What a big crock of c#P!

[Let me be Frank]

The world through rose colored glasses

Why waste your breath? They have only one mindset and it is that appraisers are an impediment to their deals. You can't educate them, you can't reason with them and you sure can't change them. Kind of like pond scum.......you can't really clean it up and it just keeps proliferating. Leave them to their rantings and go chill - you'll feel better:mellow:

I agree strongly with this comment.

The 2 back to back posts I copied below below from the other forum clearly shows the contrast of attitude from the loan side. We all know which comment the majority of loan officers take. The 2nd post sounds like it came from a true profession doing their job. To post 1; yes, please let me invest my time and pay a fortune for data sources so I can help you make money. But don't pay me for doing your job. Where did this industry become so confused? I have been appraising for 5 years and from the beginning I always said, why are the appraisers doing value checks when it is the loan persons job to do their homework. how many times have we heard "we don't want to waste the borrowers money"??? Oh, but you will call me up and waste my time/money? S&%#w you!

Many (not all) appraisers have been their worst enemy catering and bending over to aid in the B A S T A R D ization of what was once a good profession. In the "perfect world" if everyone said no to comp checks then we could just all move forward and get on with our jobs. As we know we do not live in the perfect world and it is now time for me to put on my armour and rubber boots so I can spend another day wading through the morass. Have a good day.

[FONT=Verdana, Arial, Helvetica]SolarMTG[/FONT]

[FONT=Verdana, Arial, Helvetica]10 Posts[/FONT]

[FONT=Verdana, Arial, Helvetica]Posted - 06/14/2008 : 8:36:09 PM[/FONT] [FONT=Verdana, Arial, Helvetica]you appraisers are funny. does it really take that much time to login the MLS, type in the property address and look up recently sold properties? literally, it takes a minute to login, a couple mins to type the address and then maybe 5 more minutes to scroll through the sales. then maybe a few more minutes to attach them in an email you can send to the mortgage company. maybe there are some brokers out there that ask for a specific value to be hit, but most of the mortgage companies want to know if they have a deal or not. if the value is not there, we simply tell the borrower that they cant get a loan due to the value. why should a borrower pay you $400 for an appraisal report if the deal cant get done? what a waste of money that would be. you know damn well if you were not in the business and you were in their shoes, you would be ****ED!!!! instead, you would rather have us order an appraisal blind and hope and pray that its a deal. obviously if the value is not there, the money is wasted and do you think that borrower will ever come back to us again? hell no. a real estate agent has the same capability to look up recent sales. should we ask a real estate agent instead of you appraisers for comps? thats absolutely ridiculous. appraisers that bump up the value to hit a number are just as unethical as the brokers requesting it. what is the problem with asking for recent sales? if you see a house that sold down the street a month ago for 200k, that should be enough to reasonably think the appraisal should come in for about the same as long as it is similar. what are you appraisers going to do when we cant even ask you to do an appraisal? what are you going to do when your existing relationships are gone? if you are a good appraiser, you should have no problem helping us out with trying to figure out if the loan is worth pursuing or not. some of these borrowers cant even afford the appraisal. i'll be damned if i order a blind appraisal and find out the borrower was over equity when this could have been avoided and then have me stuck paying you. a comp. check and a pre-determined value IS NOT the same. a comp. check is requesting recent sales in the area so you can see what the other comparable homes have sold for. a pre-determined value is when the broker says we have to hit this value or im not giving you the appraisal. there is BIG difference. if the comp. check tells us that there is an issue, we tell the borrower and move on. you waste your 10 mins and we save our borrower $400 and ourselves hours of time processing and working up a loan for someone that won't qualify. again, what are you appraisers going to do when your existing relationships are gone? our request for recent sales will seem like a joke when you end up struggling to get orders through the new appraisal ordering system. you can thank WaMu for that... not us brokers.[/FONT][FONT=Verdana, Arial, Helvetica]homebroker@sbcgl[/FONT]

[FONT=Verdana, Arial, Helvetica]1605 Posts[/FONT]

[FONT=Verdana, Arial, Helvetica]Posted - 06/14/2008 : 8:46:09 PM[/FONT] [FONT=Verdana, Arial, Helvetica]I agree to make comp check Illegal does not always help the borrower in any way, I am also a realtor with MLS access, I check my own comps, these days people are tight on cash, it is terrible to have them fork out $350 if their is not deal. I understand why comps check are illegal on one side, on the other side I can see how they could also protect a borrower from forking out cash and a loan that will never fund. If it an out of area deal you can call most title companies and order a property profile with comps and get a good idea of the values. Better than having the borrower spend $350 for nothing. I never ask for comps checks from appraisers, but do check them myself to protect my client from spending cash on a possible dead deal. Realtor.com can at least give you an idea where and active prices are and a range of what the current price may would be, of course the overpriced listings are of no help, try these avenues before spending your clients hard earned money.[/FONT]

 

[Caligirl]

should we ask a real estate agent instead of you appraisers for comps? thats absolutely ridiculous.

Anyone understand the thinking behind the above?

some of these borrowers cant even afford the appraisal.

Here's another gem. If the borrower can't even afford a $350 appraisal should they be borrowing money to buy a house they can't afford either?

I don't get it.

 

[Hamlet]

Those people for the most part are not professionals and have little or no ethics or regulation.

A Standard of USPAP should be developed for MBs and LOs and they should be held accountable for the loans they put together. They should be the ones bonded, not appraisers.

 

[TC]

One thing about that forum, everyone here looks like spelling champeons.


TC

 

[Bama Bayou]

It used to be that the borrower would estimate the value of their home before trying to refi. Pay the lender the appraisal fee and then see what happens.

 

[Hamlet]

One thing about that forum, everyone here looks like spelling champeons.


TC

And we are a lot nicer.:icon_mrgreen:

 

[Riick]

You might think, with the percentage commissions they earn, they could go an buy a flippin' AVM
-or- try and get a "Zestimate" or some other Freebie AVM quackery.
So Why oh Why can't these SOBs do that?
... Must be a part of their genetic makeup, it's "non-productive time" for them.

 

[c w d]

If it an out of area deal you can call most title companies and order a property profile with comps and get a good idea of the values

I find this quote most telling. They know better than to ask a title company for anything. They'll >order< a profile. Damn, I'd love to do comp checks for $20 bucks a hit if all I had to do was send them three (comparable removed) sales in the area so they can make their on decisions.

But try charging for a comp check.

I like this quote too:

if you are a good appraiser, you should have no problem helping us out with trying to figure out if the loan is worth pursuing or not. some of these borrowers cant even afford the appraisal. i'll be damned if i order a blind appraisal and find out the borrower was over equity when this could have been avoided and then have me stuck paying you. a comp. check and a pre-determined value IS NOT the same. a comp. check is requesting recent sales in the area so you can see what the other comparable homes have sold for. a pre-determined value is when the broker says we have to hit this value or im not giving you the appraisal.

So, I can take "10 minutes" of my time, 2 to log in remember, and come up with a magic number to tell you if you should do the loan or not. Damn, and I thought that was the WHOLE POINT TO THE APPRAISAL PROCESS TO ALLOW OUR CLIENTS TO MAKE INFORMED F@%^ING DECISIONS. So, Mr. MB, if I tell you incorrectly that the home won't make the needed value and you can't do the loan when in actuality you could and lets say it was a really big deal, multi-million dollar property and you were looking at a very posh commission and your company lost significant income or visa versa, but again I told you wrong cuz I only took 10 minutes to allow you to make an "informed" decision, DO YOU THINK I'M LIABLE FOR ANYTHING? Somehow, I bet you would.

I'm preaching to the choir here. I know it. And there is no sense in trying to make that a#$hole understand because he will refuse to do so. Even if something in the back of his brain was telling him he was wrong he'd lobotomize himself to remove it. I've read enough posts between MB's and Appraisers to know it is a waste of time. They don't care, they don't care, they don't care. Some do, but those MB's are the same types as those of us getting out or pondering getting out or struggling to make ends meet.

 

[Let me be Frank]

IMHO, this is not US (Appraisers) vs THEM (Loan/Mortgage). This situation has developed from US vs US (Appraisers vs Appraisers). We (not all) are the one who have altered our ethics and standards by catering to the other side and created this expectation why we should help them without charging them.

Think about that first caveman/woman "wannabe" appraiser who took their State Appraisal Exam filled with useless qustions not applicable to his profession (he was taught through the company he bought his study materials from that it is not about what you learn when in order to pass this test but learn the answers and HOW to pass this test). They pass their state exam and hook up with their mentor, Mr. Caveman/woman #2 who is a Licensed Appraiser but only has 2 years experience. #2 has very little practical experience but sees the opportunity to make money off of having trainees so he gives #1 all he knows and turns him loose. #1 stumbles his way through his 2,000 hours of practical experience and then is offered their full license. What do they do...model their mentor and they start doing value checks and pushing value to get the deals just like they were taught. Because they are not goo d at what they do they feel the only way they can get business is to steal it away from other appraisers and they think by offering discount appraisals the L/O's will flock their way and they will get rich fast. A little time goes by and guess what, #1 is now hiring Trainees so he can make money off of them and keep the Appraiser Life Cyle alive. Etc, etc, etc...think about it. The loan and mortgage industry is not our enemy, unethical and untrained appraisers are. A gun does kill people unless YOU pull the trigger.

I also wanted to share with you that yesterday I called my printer and altered my order for my new business cards. I had them replace my title of APPRAISER under my name with CLAIRVOYANT so when the next loan officer calls me for a value check he knows I have completed my online Clairvoyancy 101 class. I also ordered my crystal ball to assist me in value checks. That reminds me, I need to scan my Clairvoyant 101 certificate and add it with my resume and license to show I know what I am doing.

I would love to stay and chat this morning but I need to throw on my appraisal loin cloth grab my club/roller and hit the road. I heard Fred Flinstone's house was just forelcosed on and because my value check came in higher than the other 100 appraisers who received the same email blast I got the order (did I mention I had to bid for the order and won at $150 for this priviledge). You see Fred refinanced 3 years ago at an inflated value to pay off his new boat and credit card debt and his loan adjusted this year so he could no longer afford the payments.

Out...

Oh, by the way...I forgot to mention Caveman Appraiser #2 was blacklisted by almost every lender and their name just showed up on my daily email list which is emailed to me of apraisers not renewing their license or license suspensions. Hmmmm, wonder if the FBI is investigating them. Better check the Mortgage Fraud website.

Out, out...