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Working Re & Realtor Magazine

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Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
both arrived today. NAR seems oblivious to the uberization of RE sales.

WRE apparently thinks we can make money on $50 hybrid appraisals on inadequate forms provided by these so-called clients. duh. High liability.

BPO's being used by Black Rock and others to create mortgage backed securities are being looked at by SEC. Obviously these outfits may have to use something besides a BPO or Zillow to peddle this crap to the public. So we're supposed to stick our neck in this noose willingly for $50??? Prolly. And bet some are already. Nice.

Does anyone except WRE seriously think rural appraisers can make money doing $50 appraisals? It's all about cheap and hanging the liability for securities fraud (yes, you are a fiduciary under the law) upon the appraiser who has a license.
 

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
WRE just reports the issues - It's a business decision for appraisers and there are lots that will except these assignments.
 
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