U.S.-Sponsored Mortgage Giant Blacklists Private Analyst, Creates Dissidents-Jon DiPietra Update

[ucbruin]

No doubt about that. Most of these people seek shelter in organizations such as TAF and the Appraisal Institute Because A) they do not have what it takes to value property and put their signature behind it i.e., incompetence, or B) they lack Ethics and hide behind these two institutions as cover. Telford is the perfect example of someone who is dumber than a rock but somehow ends up as CoreLogic's “chief” appraiser. I remember I attended an Appraisal Institute chapter meeting way back and the president at the time told me “ I can get the client whatever value they want for the right price.” I will give BBG the benefit of the doubt for now. But if it turns out they committed fraud then this is yet another black eye for the Appraisal Foundation.

Victimless crime....

 

[Mejappz]

Reading the following, it strikes you that the entire GSE entities must have been involved in the effort to create the false, racist appraiser narrative and forgot why they exist. While policing words like church and near and superior, the wolves have been robbing them blind.

"The scale of this fraud is still unclear, in part because there is community pressure for all involved to stay mum, but investigations could net big, known players, not just little guys. One thing is certain: For midmarket buyers, tweaking deals was easy, easier than a lot of consumer transactions."

The mortgage fraud scam exposing broader cracks in small-time commercial lending

The DOJ and other official agencies are cracking down on loopholes that let fraudulent loan documents slip through

therealdeal.com

Sound familiar? Just another day in the office for the unethical stakeholders. Just don't say the word convenient.

In deals like Drillman’s, owners could “self-certify” rental income: Property owners tell lenders, “trust us.” These loans were then sold to Fannie Mae or Freddie Mac. Lenders often rely on title insurers to report a flip, but — critically — title companies have no legal requirement to do so.

 

[Mejappz]

Again gross incompetence by the GSEs. But hey continue allowing Mortgage Brokers to appraise properties they have an interest in. "Trust us" Fannie and Freddy will just run it through our AVM what could go wrong.

 

[TerryRohrer]

Sound familiar? Just another day in the office for the unethical stakeholders. Just don't say the word convenient.

In deals like Drillman’s, owners could “self-certify” rental income: Property owners tell lenders, “trust us.” These loans were then sold to Fannie Mae or Freddie Mac. Lenders often rely on title insurers to report a flip, but — critically — title companies have no legal requirement to do so.

I was taught that loans don't go bad, bad loans are made bad. Gives new meaning to "Day one certainty."

I guess speed in closing is paramount. How else could you close two sales in 24 hours for a 30% profit on a little old $70 million deal?

 

[Elliott]

Found this about Jon:

https://bbgres.com/leadership/jon-a-dipietra-MAI/

And this about Scott:

Scott Reuter - Freddie Mac | LinkedIn

35+ years of appraisal industry and collateral valuation experience leading up to Chief… · Experience: Freddie Mac · Education: The Ohio State University · Location: Washington DC-Baltimore Area · 500+ connections on LinkedIn. View Scott Reuter’s profile on LinkedIn, a professional community of...

www.linkedin.com

 

[Mejappz]

Lol

Day 1 Certainty | Fannie Mae

Day 1 Certainty simplifies lending with tools that make closing faster and provide a better borrower experience.

singlefamily.fanniemae.com

 

[TerryRohrer]

Found this about Jon:

https://bbgres.com/leadership/jon-a-dipietra-MAI/

And this about Scott:

Scott Reuter - Freddie Mac | LinkedIn

35+ years of appraisal industry and collateral valuation experience leading up to Chief… · Experience: Freddie Mac · Education: The Ohio State University · Location: Washington DC-Baltimore Area · 500+ connections on LinkedIn. View Scott Reuter’s profile on LinkedIn, a professional community of...

www.linkedin.com

Those bios remind me of Cheif Dingebat at Classless. A week in the trenches, suck a little, and soon your leading a huge band of merry theives!

 

[Mejappz]

Found this about Jon:

https://bbgres.com/leadership/jon-a-dipietra-MAI/

And this about Scott:

Scott Reuter - Freddie Mac | LinkedIn

35+ years of appraisal industry and collateral valuation experience leading up to Chief… · Experience: Freddie Mac · Education: The Ohio State University · Location: Washington DC-Baltimore Area · 500+ connections on LinkedIn. View Scott Reuter’s profile on LinkedIn, a professional community of...

www.linkedin.com

DALLAS, Nov. 5, 2020 /PRNewswire/ — BBG, a leading national due diligence commercial real estate firm, today announced that it has appointed industry veteran Paul E. Ping, MAI, as Senior Managing Director who will be responsible for expanding BBG Evaluation, a USPAP-compliant desktop valuation service for banks and other financial institutions to use for commercial properties and other assets that do not require a traditional appraisal.

Mr. Ping will also join BBG’s Senior Leadership Team.

BBG appointed industry veteran Paul E. Ping, MAI, as Senior Managing Director. Mr. Ping will be responsible for expanding BBG’s desktop valuation service.
With an accomplished career spanning more than 35 years, Mr. Ping is recognized as a well-respected valuation expert and business leader who has successfully led his firms’ diverse teams and utilized cutting-edge technology to meet clients’ goals in highly competitive, fast-paced environments.

Before joining BBG, Mr. Ping served as an Executive Managing Director and National Director Alternative Valuation Products and Services at CBRE, where he was responsible for new business development, quality control, and supplying platforms, processes, and procedures.

Earlier in his career, Mr. Ping served in a similar role at Cushman & Wakefield, where he developed and implemented a national platform for evaluations. He has also held various senior-level appraiser and management roles at commercial banks and accounting firms.

Mr. Ping is a member of the Appraisal Institute and former Vice President of the Industry Advisory Council of the Appraisal Foundation.

BBG CEO Chris Roach, MAI, commented on Mr. Ping’s appointment: “We are very fortunate that someone of Paul’s caliber has joined our growing team. His deep understanding of our business, exceptional leadership skills and an innate ability to forge strong client relationships make him extremely qualified to lead our growth plans for our BBG Evaluation service.”

BBG Senior Managing Director Kenneth Konrath, MAI, also commented: “Demand continues to grow nationwide among financial institutions seeking one point of contact for their desktop valuations. Paul’s outstanding reputation and extensive experience in the industry will help us broaden our market reach and deliver the highest quality USPAP-compliant evaluation to our clients.”

Mr. Ping added: “I am ecstatic to be given this tremendous opportunity to join the nation’s largest independent due diligence firm. BBG has a proven track record of attracting some of the industry’s sharpest minds and embracing technological innovation, both essential to meeting the complex challenges facing the firm’s clients in today’s rapidly shifting commercial real estate market. I look forward to providing the best possible outcomes for BBG’s clients and helping the firm achieve its strategic growth initiatives.”

About BBG
BBG offers comprehensive due diligence services including valuation, advisory, property assessment, energy services, cost segregation, zoning, and ALTA surveys. Headquartered in Dallas, the firm has 37 offices in key US markets and more than 2,700 clients. As one of the Big Five national commercial real estate valuation firms, BBG has achieved a reputation for personal attention, on-time delivery and deep expertise in multi-family, office, retail and industrial sectors. For more information about BBG, please visit www.lauras42.sg-host.com.

https://bbgres.com/press-release/bbg-names-paul-e-ping-MAI-as-senior-managing-director/

 

[djd09]

let the good times roll...

 

[djd09]

I saw Shawn Telford bumbling through a webinar on the new forms and couldn't figure out how someone so clueless was at the table. Then I see he is on the AQB. And among the most inept and unethical in the land are on the TAF Board of the Untrustworthy. The best cronies capitalism can buy, for sure.

telford...