Welcome to the new 1004

[George Hatch]

hahahaha the mortgage brokers duped the big banksters, fannie, the regulators cheer on bro

You laugh about it all you want. But that is the excuse the lenders used - that they were innocent victims of the crooked MB. That the MBs LIED to them and defrauded them behind their backs. Plausible deniability (and a lie) as if the lenders had no means at all to check up on the appraisals.

That's why Congress acted to strip from the lenders the opportunity to use that particular excuse. More recently, if a lender wants to claim that the AMCs which THEY directly engaged to manage these appraisals have defrauded them they're going to have a tough time getting away with that untruth. Too much paper trail.

 

[George Hatch]

i am done holding back punches...15th st sellout

I work for nobody but my appraisal clients. Which don't include any of the parties you complain about. The last time I got paid by a non-appraisal client (other than teaching CE/QE courses) was about 15 years ago when I edited-for-accuracy a licensing study guide for a competing education provider and they reneged on their agreement to keep my name out of it. I got paid $1500 for that.

Your problem with me isn't that I'm anyone's rentboi; it's that I have a different opinion than you on certain things. OTOH I agree with you on other things. It's like a cafeteria; we have the freedom to pick and choose what we do/don't agree with.

 

[djd09]

I work for nobody but my appraisal clients. Which don't include any of the parties you complain about. The last time I got paid by a non-appraisal client (other than teaching CE/QE courses) was about 15 years ago when I edited-for-accuracy a licensing study guide for a competing education provider and they reneged on their agreement to keep my name out of it. I got paid $1500 for that.

Your problem with me isn't that I'm anyone's rentboi; it's that I have a different opinion than you on certain things. OTOH I agree with you on other things. It's like a cafeteria; we have the freedom to pick and choose what we do/don't agree with.

you must be slow...

 

[djd09]

https://twitter.com/x/status/1838489924560900103

 

[Tiffany Gibbons]

Please re-read USPAP and the SOW rule regarding assignments conditions.

Please go fly a kite.

 

[Tiffany Gibbons]

No, they said market theory suggests dollar for dollar is expected in undersupplied markets and by not adjusting appraisers are inflating appraised values.

I say let’s leave the decisions about how much to adjust in the hands of the professionals, instead of flip flopping based on the agenda for that day. Like every other adjustment, concessions adjustments should always be market-derived. Like every other adjustment, depending upon how it is derived the market will say different things.

Dollar for dollar is always going to be a safe and valid approach because it is rational, in the same way a cost based adjustment is safe and rational. Is it perfect? No. But it’s reasonable and supported via “market theory” or whatever.

Or you can do a regression and show that maybe the adjustment should be 50 cents on the dollar. Or maybe the regression shows little correlation for that coefficient, so no adjustment is needed.

Based on the similarity of the data you can do a sensitivity analysis and find what I’ve found many times, which is that the market does not recognize an adjustment, even when market theory suggests otherwise.

Basically depending on how you look at it, it is pretty easy to support anywhere from 0.00 to 1.00 on concessions, and the fighting about it is people disagreeing about their preferrences.

Well, it's being left out of MLS completely soon, so? Calling sometimes 9 different sales just to verify concessions? Sure, that's going to happen fast and cheap.

 

[Sadie]

Well, it's being left out of MLS completely soon, so? Calling sometimes 9 different sales just to verify concessions? Sure, that's going to happen fast and cheap.

Send them an email. We have never had the concessions available.

 

[Tiffany Gibbons]

unethical...like passing out millions of no doc loans...and the gse's accepting them

Every day, all day, no rules, just right! Lol

 

[Tiffany Gibbons]

Send them an email. We have never had the concessions.

Honestly, I haven't seen significant concessions in a while now around here. When I moved here about 8 years ago there was an undersupply of housing. There still is. So please stop the hyperfocus on me. You are in a different area.

 

[Sadie]

Honestly, I haven't seen significant concessions in a while now around here. When I moved here about 8 years ago there was an undersupply of housing. There still is. So please stop the hyperfocus on me. You are in a different area.

USPAP is not based on geography.