What now for CA appraisers?

[Civic]

They should also make laws for borrowers, last week borrower called me after inspection & pressure me into value of her house, i immediatly let AMC know of this pressure, what do you think they did? They said sorry about that we will reasign this order .

 

[TMG]

Good idea. It’s the sure fire way to stay out of trouble. Until the loan goes up in flames and then they blame you.

But in all seriousness, declining sketchy orders is the best way to avoid unhappy borrowers and their complaints.

 

[sputnam]

Many appraisers live in the world where given an appraisal assignment, as long as they follow USPAP, appraiser should be fine.
Through my experience and business decision, I have always appraised with owner/borrower in mind. I get criticize for this since they're not my clients.
But the ones usually filing the complaints are not our clients.
I anticipate more unhappy borrowers and agents will be complaining about lower appraised value.

You are supposed to be appraising with the PROPERTY in mind. Not the owner. Not the borrower. Not the Realtor. Not the Lender. That's what being unbiased in your appraisal practice means. You are there to tell the property's story. Not to make anyone happy. If you can't, or won't, approach the appraisal in that way.... please find something else to do.

 

[Tom D]

my business decision was to write the report for the underwriter. guess that's why i never get stiped, and have had long staying clients.
some of you appraisers also need to appear more human to the owner's then just walking around with your appraiser nose up in the air. maybe your silence, in a different neighborhood, is showing your subliminal systemic racism.

 

[Fernando]

my business decision was to write the report for the underwriter. guess that's why i never get stiped, and have had long staying clients.
some of you appraisers also need to appear more human to the owner's then just walking around with your appraiser nose up in the air. maybe your silence, in a different neighborhood, is showing your subliminal systemic racism.

True, I hear some complaints other appraisers come in and get out. Some like to make conversation, some don't.
I make effort to get rapport with occupant so when I leave, we have a good understanding that their appraisal fee was worth it (paid to a great appraiser).

 

[Cob]

Good thing about Texas is that value complaints are automatically rejected.

Like this person.

3. On or about January 29, 2021, complaint #21-232 was filed with the Board by an appraisal management company. The complaint alleged that Respondent utilized a comparable property that was too distant from the subject, and that he failed to adequately explain a 38% increase in valuation between his original report and a revised report submitted after a reconsideration of value was submitted by the lender.

 

[Dublin ohio]

my business decision was to write the report for the underwriter. guess that's why i never get stiped, and have had long staying clients

Bingo!

some of you appraisers also need to appear more human to the owner's then just walking around with your appraiser nose up in the air. maybe your silence, in a different neighborhood, is showing your subliminal systemic racism.

I am always cordial and try not to walk around with my nose up in the air. If owner chooses to accompany me around the house. I will always ask them questions about each room (if necessary). Otherwise, I will discuss updates and remodeling either at the beginning or end of my inspection. I also always have a couple of dog treats in my pocket. Since it seems the majority of people these days have at least one dog. No better way to put a dog person at ease. Of course. I always ask before I give the dog a treat.

 

[Fernando]

I'm too cheap to give treats. I may complement the dog if it's a good dog to the owner.
Sometimes I feel I have to complement babies and little kids to make parents happy.
Some kids and dogs get in my way in my photos and wish parents would have more control.

 

[Dublin ohio]

Like this person.

3. On or about January 29, 2021, complaint #21-232 was filed with the Board by an appraisal management company. The complaint alleged that Respondent utilized a comparable property that was too distant from the subject, and that he failed to adequately explain a 38% increase in valuation between his original report and a revised report submitted after a reconsideration of value was submitted by the lender.

I don't get it. It was not about "value". Like a homeowner filing a complaint because they did not "like" the value. It was about not supporting or explaining something that any appraiser I know would have done without thinking. Appraising a property above list when it has been on the market for multiple months with no explanation. A 38% change in value due to ROV and no explanation. Seriously

 

[nachocheesefries]

With tomorrow's new law signed in CA that complaint for perceived low value can be filed by borrower , how can you possibly sleep well at night? I honestly don't think most appraisers properly digested this news yet. Or their defense mechanism is on full blown denial mode. I gurantee that out of 5 new appraisals you will do , at least 1 borrower will take advantage of that clause. All CA appraisers should boycot lender work & specificly telling them why. I can imagine E&O firms will be jacking up fees starting next week there.

I have been turned in multiple times over value...I think three now in 18 years?

I don't care...I just fill out the rebuttal and submit it to the board. We live in a social credit score society whether Appraisers realize or not. Business owners are harassed by the Govt and crazy customers all the time. Its simply too easy. Look us up, click a button or two..vomit all over the page and at least the Appraiser wil have to waste their time on the complaint. Guilty until proven innocent.

To my knowledge, in Missouri, ALL complaints have to be investigated, no matter how stupid they are...so the reg boards just send out non-stop notices for logs, work files, etc just to dismiss the claim. Its a really ignorant system but is likely designed to protect the public against shady actors in all professions. I have a friend that is a Physician and he is constantly turned in by angry elderly pill seekers b/c he won't load them up on Fentanyl patches/Oxy.