Veteran Affairs Home Loan Guarantee Program Faces Appraisal Problems Dsnews.com

[Michigander]

I had a short stint on the VA panel but resigned. What I didn't like was as follows:

1) Could not decline an assignment
2) Tidewater (it is what it is and this pre-reconsideration reconsideration does not sit well with me)
3) Had to accept work through vendors that I would never in a million years be willing to work for
4) Fees were lower than what my other clients were paying
5) Could not negotiate higher fees for complexity and I kept hitting the weird ones
6) Could not decline an assignment which affected overall ability to manage my business.

Other than that, the reviewers were great and the questions were all smart. No problem on that end, biggest issue was by far not being able to decline assignments so I could set my own schedule better. If they got rid of that, I would rejoin in a heartbeat (except now I am a reviewer).

 

[Joe Flacco]

It seems like VA panel is great for those that want to work exclusively with VA.

 

[Don Clark]

http://www.dsnews.com/daily-dose/04...an-guarantee-program-faces-appraisal-problems


VA Home Loan Guarantee Program Faces Appraisal Problems
DSNews.com - ‎Apr 4, 2017‎
The National Association of Realtors (NAR) and other industry leaders testified before Congress this week to discuss the Veterans Affairs (VA) Home Loan Guarantee Program. “America's veterans have been well-served for years by VA's appraisal system, ...

Real Estate Agents and NAR will never be satisfied as long as there are appraisers. They do not like appraisers telling them they are wrong, or that there opinions of value are wrong, or that "Mansion" is often just an ordinary house.

It was the nationwide hue and cry of real estate agents in 2002 that caused the VA to develop the "Tidewater Initiative" in the first place. I knw. I was at the local meeting where the VA met with real estate agents and appraisers. I was part of the Beta Test program for the TI. I saw it as an alternative to constant request for reconsideration of value. I DO NOT and have never seen it as a "Bulls Eye" or a target. My opinions are seldom the amount that a contract shows. Sometimes my opinion is lower, sometimes higher. I was recently lambasted for an opinion that was over $30,000 higher than a short sale listing and contract. I have also been called the Devil's offspring when I see less than what someone wants.

As to pay: I have never had an AMC pay me anywhere near what I get for a VA Appraisal. I have quit doing AMC work for that reason.

I can always tell when a property is listed by a seasoned agent or one who has been in the business a long time. They do their home work and are usually pretty accurate on their opinions.

I have held first a salesman's license then a brokers license since 1972. Thousands of agents have come and gone. I am still at it.

TI is what it is, a preemptive reconsideration of value. It is very rare that when I do a TI, and give the parties an opportunity to provide additional data to cosider, that I actually change my opinion of value.

 

[Mike Kennedy]

I had a short stint on the VA panel but resigned. What I didn't like was as follows:

1) Could not decline an assignment
2) Tidewater (it is what it is and this pre-reconsideration reconsideration does not sit well with me)
3) Had to accept work through vendors that I would never in a million years be willing to work for
4) Fees were lower than what my other clients were paying
5) Could not negotiate higher fees for complexity and I kept hitting the weird ones
6) Could not decline an assignment which affected overall ability to manage my business.

Other than that, the reviewers were great and the questions were all smart. No problem on that end, biggest issue was by far not being able to decline assignments so I could set my own schedule better. If they got rid of that, I would rejoin in a heartbeat (except now I am a reviewer).

Same 6 Reasons I won't apply until those restrictions are lifted. Given those restrictions all VA Appraisers should be W-2 employees.

 

[CindyR]

[QUOTE="Michigander, post: 2761372, member: 73698"
OK - i must provide some additional insight here.

1) Could not decline an assignment
Yes you can - if you have a valid reason - I have.

2) Tidewater (it is what it is and this pre-reconsideration reconsideration does not sit well with me)
TW is no big deal except to those folks who make a mountain out of a mole hill. I am not changing my value or giving in to any pressure just asking them to provide any comps they want me to be sure to consider before i finalize my OMV

3) Had to accept work through vendors that I would never in a million years be willing to work for
The vendors have nothing to do with the process other than an email address. all VA vendors are the same and respectful and non-intrusive.

4) Fees were lower than what my other clients were paying
YMMV - not a problem in my experience

5) Could not negotiate higher fees for complexity and I kept hitting the weird ones
Yes you can - if you have a valid reason - I have.

6) Could not decline an assignment which affected overall ability to manage my business.
as noted above, yes you can decline an assignment for a valid reason. as for managing your business you simply set your VA weekly maximum to whatever number best suits your business needs.

And these 'restrictions' do not make you an employee of any entity. they simply reflect the VA appraisal platform of random assignments based on geographic and volume availability.

.[/QUOTE]

 

[Michigander]

delete

 

[Don Clark]

[QUOTE="Michigander, post: 2761372, member: 73698"
OK - i must provide some additional insight here.

1) Could not decline an assignment
Yes you can - if you have a valid reason - I have.

2) Tidewater (it is what it is and this pre-reconsideration reconsideration does not sit well with me)
TW is no big deal except to those folks who make a mountain out of a mole hill. I am not changing my value or giving in to any pressure just asking them to provide any comps they want me to be sure to consider before i finalize my OMV

3) Had to accept work through vendors that I would never in a million years be willing to work for
The vendors have nothing to do with the process other than an email address. all VA vendors are the same and respectful and non-intrusive.

4) Fees were lower than what my other clients were paying
YMMV - not a problem in my experience

5) Could not negotiate higher fees for complexity and I kept hitting the weird ones
Yes you can - if you have a valid reason - I have.

6) Could not decline an assignment which affected overall ability to manage my business.
as noted above, yes you can decline an assignment for a valid reason. as for managing your business you simply set your VA weekly maximum to whatever number best suits your business needs.

And these 'restrictions' do not make you an employee of any entity. they simply reflect the VA appraisal platform of random assignments based on geographic and volume availability.


I have had the same experience, some very recently when a couple of assignments were reassigned at my request. Also, I rarely, maybe once or twice in past 5 years, ever had a reason to change my opinion of value in a TI.

I am not an employee of the VA, I am a contractor, not paid by by VA, paid by a VA Approved lender. I set my own hours, I pay for my own office, expenses, and as long as I fulfill the basic contract to do an appraisal in accordance with VA requirements I am treated with respect. if a lender fails to pay me, the VA will assist in having that lender comply with their contract to pay me in a specific time frams. That is far different than the many sleeze balls that want me to do exactly what they want me to do, when they want me to do it, and in some cases buy their software and pay a fee to send the report to them.

I have been on the panel since January 1992. I have never worked for a better client.
.

[/QUOTE]

 

[sandpiperapp]

What amazes me is that the people that complain the most about the supposed shortcomings of the VA are appraisers not on the panel.

It also seems to me that the the appraisers on the VA panel and are intimately familiar with how it really works, are happy, or at least content with the way the VA works their appraisal system.

Let me state that I am on the panel and the VA is the best client I have ever had. No system is perfect and the VA has some of its own quirks, but I gotta tell you, the VA is appraisal Heaven compared to the AMC hell most residential appraisers have to deal with.

If you are not on the VA panel, and dont want to be on the panel, thats cool. Just do us a favor. please stop yapping about how bad a system it is. You know not of which you speak.

 

[Michigander]

What amazes me is that the people that complain the most about the supposed shortcomings of the VA are appraisers not on the panel.

It also seems to me that the the appraisers on the VA panel and are intimately familiar with how it really works, are happy, or at least content with the way the VA works their appraisal system.

Let me state that I am on the panel and the VA is the best client I have ever had. No system is perfect and the VA has some of its own quirks, but I gotta tell you, the VA is appraisal Heaven compared to the AMC hell most residential appraisers have to deal with.

If you are not on the VA panel, and dont want to be on the panel, thats cool. Just do us a favor. please stop yapping about how bad a system it is. You know not of which you speak.

Well if that was geared to me, I tried it, didn't like it, left it. I just explained why some people don't like the system. Some people love it, others don't, but if you want to get to the bottom of why some appraisers do not participate, read my post without your own filters. The post was simply to respond to why there can be a shortage in some areas.

 

[sandpiperapp]

No it was not meant for you. Your comments were based on experience and the VA did not fit your business model. It appears to me that you made an adult decision and left the panel. For the record, my experience on some of these items has been different than yours.
My statement was for the people that have no experience with the panel and offer negative opinions with no experience.