Waivers, huh?

[djd09]

My PFA guess is that if DW was in a position to disclose everything his employer knows about the situation - which they obviously hold as proprietary and confidential information - it would make you guys even more unhappy.

Appraisal Waiver (Explosion)

Prevalence of appraisal waivers at the GSEs, including CLTV statistics Table 1 and 2 (GSE appraisal waiver share and counts by product): The use of appraisal waivers at the GSEs has exploded in recent months and now accounts for 40% of all valuations (the other 60% consist of traditional...

appraisersforum.com

DW had no problem posting in that thread...you had zero...clueless

 

[George Hatch]

Just think, that thread was current 30 months ago. I wonder how much their conclusions have changed since then? If at all.

What do you think?

 

[George Hatch]

maybe you should go the appraisal waiver forum to discuss the under handed workings of the scum bag mortgage brokers and the unethical stakeholders...

I'm glad your preferred client group got kicked out of the loop. Good riddance.

 

[djd09]

you don't do these appraisals...so the question is how much does 15th st pay you to post your nonsense...

 

[George Hatch]

Not responsive to the question I asked:

Just think, that thread was current 30 months ago. I wonder how much their conclusions have changed since then? If at all.​

​

What do you think?​

 

[J Grant]

Apparently those investors - and the govt - disagree with what appraisers think they need. That's unfortunate.

Here's a hypothetical for you to answer:

If the market correction which follows the current upleg of this RE cycle DOESN'T reveal a significant number of grossly overvalued-at-the-time appraisals, then what? If the numbers don't support the talking point that the lenders' usage of the AMC scheme and sloppy/lazy AMC appraisers and of other alternative modes of valuation isn't the cause of the pain at the investors or the taxpayers then what's your next move? Because such a fact pattern - if that's what emerges - guts the "it's a THREAT.....to the ECONOMY !!" accusations that some appraisers have been making.

And while we're at it, such a hypothetical outcome would also completely justify the move to reduce or eliminate the level of control the outside loan originators had over those appraisals.

IMO, if significant losses in the coming downleg aren't attributable to gross overvaluations then there is no chance the AMC conduct or bundled fees will be prohibited by the govt in the future. And almost no chance the lenders will divert from what they've been doing except to do more of it. From there, the math does itself.

So lemme ask you: how confident are you that the lender and AMC conduct has resulted in a significant percentage of grossly overvalued-at-the-time appraisals? Put a percentage on your confidence level.

only will answer the last !Q as I am working on appraisal ( my last one lol?

I have no idea how many grossly overpriced appraisals resulted by AMC and lender conduct, but whether it is grossly overvalued or only a lesser percent over valued the conduct, or more realistically the fact that a limited number of clients have so much of the volume and can wreck an appraisers income by stopping work if th appraiser comes in "low"- it was an amount that could have been avoided -

 

[George Hatch]

The number of clients (lenders) is limited whether they are working through an AMC or not. Taking their business elsewhere is how they depart from doing business with appraisers they don't trust, or appraisers they don't like. For whatever reason.

Bad appraisers should get cut off. Obviously. As for appraisers who are uncooperative with nominal deals (like me), those appraisers can just go seek other clients who aren't trying to do such deals. There are a few lenders out there with which I decline to do business because I don't want my name on any of their deals. I have a couple clients who will cut me off if I do business with the outlaws. The blacklist works both ways. Leastwise, it can work both ways.

 

[George Hatch]

Hey Tiffany, you always me-too these idiots. Feel free to respond to any of these questions. I thoroughly enjoy watching you try to reason through some of your opinions. You seem especially fond of the appeal to motive, which is a category of fallacy:

 

[Mike Ault]

Hey Tiffany, you always me-too these idiots. Feel free to respond to any of these questions. I thoroughly enjoy watching you try to reason through some of your opinions. You seem especially fond of the appeal to motive, which is a category of fallacy:
View attachment 85783

"Appeal to motive" explains the history of mortgage lending after securitization allowed everyone to offload their risks onto an unsuspecting bond market. "Appeal to motive" explains why the major lenders shopped rating agencies, auditors, and valuation providers to see which ones offered the least resistance to their "motives". All of which recently resulted in the biggest financial crash since the Great Depression. We are supposed to trust them now?

 

[djd09]

and yet...they still cannot name one address of a property that the unethical stakeholders have waived