Gather round, shipmates. and listen closely
We are in a WAR...and war is hell. But when you fight that war on a tall ship with truth behind you, the war can be won.
This monumental battle has gone beyond a few shots over the bow. Ponder this, if you will.
1. The ports user agreement is the most onerous agreement anyone has ever seen........including the E & O carriers. Ask yourself why. Why should it be necessary for this huge corporation, handling thousands of appraisal reports, to design such an agreement? Why is it so all-inclusive? What is it that they feel must be protected? If there is nothing happening with reports, if they are being delivered to lenders as the appraisers wrote them, why this agreement?
LIA is asking those questions.......and lenders are starting to ask the same questions.
2. Numerous lenders are reacting to this agreement and the implications behind it. Numerous lenders are getting very uncomfortable with what may be headed their way. They are finally beginning to understand the foul bill of goods they have been sold.
3. Outsiders are starting to pay attention. Appraisal Scoop and Working RE both have articles that are being widely read. Reporters are starting to ask the right questions. I was interviewed yesterday, along with several others - I know this is fact.
Hard questions are being asked and a bright light is finally being shone into the dark corners of the port. The corners they would just as soon never see the light of day.
If there was ever a time for appraisers to act in unison, THIS IS IT. Our Irish Pirate, Mr. Kennedy, spoke the truth............the hull is taking on water. THIS IS IT...stand with your shipmates and fight. Your injuries will be minor, your booty great. Will you watch this battle unfold from the sidelines................or will you take up a weapon and join your crewmates? It matters not any personal bias or dislike or likes any of us may have of others. For the moment, put dislikes, fear and prejudice aside and join as one. The port has given us the very weapon we need - served it up to us on a silver platter. We HAVE help from unexpected quarters. More ships are sailing to us. We must push the advantage. It is time to turn every cannon we have on the port, fire at will........... and sink her.
You may say...but I have no weapon. YOU DO. You may say, but I will lose clients. I DOUBT IT. You may even say......but I don't use the port......why is this my fight? Think on what is ahead and the stakes to be won. The port is still selling her foul brew. The next lender to drink it may be one of YOUR clients.
Your weapons are simple......your phone, your fax, your email. Contact the lenders you know to be using the port......give them a copy of this shameful agreement AND the two letters from LIA posted earlier. Ask them if this is really what they intended when they signed on. Ask them to review the documents and decide for themselves if they want to be put in the posiition of buying back loans. Tell them that appraisers all over this country are refusing to sign this agreement. Tell them that what they will be left with is those appraisers who don't care to stay current, don't care about this profession, don't care about the quality of their reports and don't care what their client receives. If you fear telling them all that, then simply ask them to review the documents and decide for themselves. NUMBERS COUNT. Don't sit back and say "well, I know so and so already called Lender A.
NO. YOU - and YOU - and YOU - call Lender A through Z. At least one very large lender is taking ACTION - BECAUSE they have been inundated with phone calls.
Second........call your E & O carrier. Many have contacted LIA. Don't let them carry this battle alone. If your carrier is different, get this agreement and LIA's statements to them. They see the foulness of this agreement - they can be our ally.
For those of you working for AMC's through the port. Call them. Give them a copy of the agreement and LIA's letters. Ask them if they are aware of the jeopardy they are placing themselves and their lender clients in. You may find yourselves pleasantly surprised. If a lender or AMC seems not interested, ask to speak to their Chief Compliance Officer or Manager. THEY will be interested.
For those working for Fannie............they too have been sold a bill of goods. Contact them.......get the agreement and LIA's letters in front of them. They are already under siege.............do they really want more??
If you need the letters or the agreement they are posted and I have them as well. PM if you need assistance.
IT IS TIME, MATEYS....sail with us and join the boarding of the opposition's ship. OUR ship is finer, faster and armed with truth. OUR ship is better manned to fight in a storm. Again.......help from unexpected quarters is on the way.......we are not fighting alone.....but WE MUST FIGHT TOGETHER. NOW. TODAY.
THINK, mateys..........we have this chance..........this ONE chance. Take it NOW. We CAN win this.......but every hand is needed on deck. HOIST THE COLORS.........TO ARMS!!!!!!!!
http://www.youtube.com/watch?v=l-eDORp7IEg&feature=related
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