What a Loan Officer Should NOT Say To an Appraiser

[Blue1]

Charlotte:

:lol: :lol: :lol: I KNEW I wasn't the ONLY one!!!!!

I especially like the "calling for status" thing. Told one client (who calls 5 times a day) that I'm too busy answering the phone to complete his report. He stopped calling, I finished the report.

Realtor says, "The property is a 2 story, therfore it must be worth much more" I said "How much will that house be worth to an older person who can't climb stairs very well?" (We have a huge retirement population and they statistically buy single story homes)

Have a good one!!!

 

[Mike Seward]

You can have the order if you can come in at $300K.

 

[Will Granger]

:lol:
That was good. I got a call from a new "trawler" the other day who asked if I would give a discount for volume. "You're asking me to do a long-term fixed rate at a discount?"
"Huh?"
"Tell you what. I'll do every 10th report free. How's that?"
"Uh-h-h-h..."
They won't make a long term loan at a discount, but they want us to do that. Hm-m-m-m-m.
8)

 

[Julio E. Sune Jr. (FL)]

"I am allways looking for good, experienced appraisers, but they have to do what I tell them."

"We have appraiser who will go out of the area in order to meet contract sales price."

 

[Will Granger]

Some people drive over the speed limit in a pack of cars, because they know the chances of getting caught are minimal. And so it is with many appraisers traveling with the pack, befriending Rillators, lenders, homeowners who refinance, lawyers in equitable distribution cases, the general public, and politicians with whom the appraiser spends and donates their high income. Hm-m-m-m-m. White collar terrorism? :?:

 

[Bemis Pownall]

ever hear this one?

Joe X apprasier has comps that will support it,

but hes on vacation
but hes not on this investors approved list
we'd rather work with you
but hes too busy now


If you were reviewing a report and the appraiser called the GRAVEL road a DIRT road, then when its raining would it me a MUD road??

 

[BarbaraNJ]

Have heard most (but not all) of the above. I must say that while I was not laughing when they were said to me, they seem pretty funny now!!!

Must be misery loves company.

One more, and I'm certain you all have heard it more than once.
Have not heard this recently due to heavy sales, but heard it all the time when sales were slower.

L.O.: "The underwriters kicked this back. They want three closer sales (closer proximity) that are similar to the subject."

My response has evolved to this: "Appraisers are not lazy, but do you think that I would travel one mile in one direction, turn around and travel a mile and a half in another direction and once again two miles in another direction if I had two sales across the street from my subject and one next door?"

Rhetorical question, but the L.O. didn't get it.

 

[Tim The Enchanter]

"Appraisers are not lazy, but do you think that I would travel one mile in one direction, turn around and travel a mile and a half in another direction and once again two miles in another direction if I had two sales across the street from my subject and one next door?"

Rhetorical question, but the L.O. didn't get it.

:lol: :lol: :lol: Much too obvious and logical, to understand.

Heard this little gem today. "Can you change the box that says it's a condo conversion and not say it's a conversion?" I told him if I screwed up and put the wrong thing there I'd change it, but if it was right...

So I looked, and I was right, a conversion. Not gonna change it. Was tempted to ask him if he wanted me to lie 8O, don't why I held back. :twisted: He didn't try to push his luck any further at least.

 

[Mountain Man]

I just tell 'em. DARN!! You figured out the appraiser's secret. We always save the best comps for later.

 

[P.Johnson]

"Our policy is not to pay the appraiser if the lender is unhappy with the value." Bill S. @ LSI