Author: Jonathan Miller

AI Damaging Appraisers' Livelihood - Shame on All AI National Leadership 22

AI Damaging the Livelihoods of Appraisers

Congrats AI National, you got a win and hope you can sleep at night… The Appraisal Institute succeeded pushing SB-70 into CA law without informing their own membership. Their long-term goal for all their anonymous lobbying to dismantle all appraisal licensing is to revert to a previous time before FIRREA when membership in trade groups mattered a lot more. Unfortunately, they are heavily damaging the livelihoods of appraisers in the process. Be sure to shake hands with Scott DiBiasio, Bill Garber, Jim Amorin and the rest of AI executive leadership at your next AI meeting. The background on this insanely...

Indirect Appraiser Pressure of The Daily Kind - Appraisers Blogs 9

Indirect Appraiser Pressure

An appraiser shared this email from a mortgage underwriter: I saw you called a few days ago and I apologize as I have been very busy. If you can just email back notes as to why your not changing value or you can input notes into the appraisal. This can give the borrower a better understanding why the appraisal is low. If your updating value; that is find too.” My response to the appraiser: “Good grief. The Appraisal already explains why the value is the value in the report to your client – the bank. The lender is the one...

Cuomo Opened the AMC Pandora’s Box... 2008 Crisis a Decade Later 4

Cuomo Opened the AMC Pandora’s Box

Over the past several weeks, there has been a slew of thought-provoking pieces on the financial crisis of ten years ago. There are so many varying views on what happened and what caused it. It was such a systemic event that ten years later, there are strong opinions on the cause and the lessons learned and not learned. I’ve always looked at it from a valuation/mortgage/credit standpoint since that has been my business orientation. I saw the events roll out from my perspective, but I only saw a sliver of what the crisis represented. Mortgage brokers I knew that thrived...

“Spirited” Banks Treat Appraisers Like Cattle 15

“Spirited” Banks Treat Appraisers Like Cattle

Warning: lots of “spirited” inside jokes abound. No offense to the cows I’ve met in my lifetime (none are on a first name basis with me). When an institution has “spirit” it is all about the lowest bid and fastest turn time…period. Clerical staff usually makes the choice when institutions (with spirit) treat their appraisers whose spirit has been crushed, like this. In looking at this particular request, here’s what I find — we uploaded the request around 11:30 yesterday. The “huddle” on Appraisal Shield pushes each request out to an appraiser about once an hour — I did a...

Angelo Mozilo' Legacy of his Landsafe AMC still Lives Today within CoreLogic 3

‘Spray on Tan’ Was Never An Option

His legacy of his Landsafe AMC still lives today within CoreLogic… During the housing bubble, I remember thinking about how BofA had avoided the systemic insanity of lending that overtook most mortgage lenders including banks like Washington Mutual… and then they bought Countrywide and all hell broke loose. From the appraisal perspective, I observed them incorporate the Countrywide’s Landsafe Appraisal Management Company into the mix and all of a sudden, they took half of the appraisal fee and applied military-like rules such as 48-hour turn times and 19-year-olds chewing gum who followed long checklists without regard for local market knowledge....

An Avalanche of Appraisal Waivers Continues 3

The Appraisal Waiver Avalanche

The State of North Dakota Along With Their Banking Lobby, Applies For a Waiver This just came in so I will expand on this post in the future, but here is what we know. The governor has submitted a request to the Appraisal Subcommittee for an appraisal waiver but the letter seems more orientated towards raising the de minimus which just occurred. By the way, isn’t it apparent that the banking lobby is a little to cozy with the Governor’s office to actually cosign this letter? The letter also makes references to the lack of rural appraisers as a long-term...

That Terminator is out There! - AI National Is Vigorously Fighting For Evaluations 4

That Terminator is out There!

One of my favorite lines from the original Terminator movie from the Kyle Reese character that can apply to the unknown driver of AI National’s obsession to force evaluations on residential appraisers because they can count on the designation handcuffs that keep many from speaking out and continue to damage the public trust and continue to damage the livelihoods of its own members in slow motion without bothering to reach out and explain what is behind it (gasping for air sound). Remember that it took 10-years of screaming by AI membership to get AI National to disclose their dealings with FNC with an...

Fake Hybrid Inspections 17

Fake Hybrid “Inspectors”

I did a screenshot of a photo from a private appraisal group that blew my mind. Now imagine an unregulated, non-standardized, untrained inspector (home inspectors aren’t being used for hybrids) for a hybrid appraisal assignment (being paid $12 to rush through a home) actually catching this scam like a trained experienced appraiser did. LIA (Liability Insurance Administrators) has said that the appraiser is still responsible for house conditions even if they use a disclaimer. I heard this directly from LIA when they presented at TAF a few months ago. I wonder what other things would be missed by an unregulated,...

Data Collection: AMROCK (formerly TSI) Low-Balling Your Talents 15

AMROCK Low-Balling Your Talents

You know an AMC product is low-balling your talents when they express repeated concern about your car (in blue). I am contacting you today to gauge your interest in 2 new products we are planning to offer our clients in approximately August of this year. Our clients are collection product that would help streamline the lending process for low-risk loans. Below are the details, PLEASE REPLY WHETHER INTERESTED OR NOT SO WE CAN TALLY THE NUMBER OF APPRAISERS INVOLVED, THANK YOU! What’s involved – Product 1: A data collection: The first step of the process is Data Collection. This step...

States That Allow Appraisers To Switch off USPAP 4

Switch off USPAP

Senseless Acts Harmful to the Profession… This past Tuesday, (June 19, 2018), I was a keynote speaker at the Ohio Coalition of Appraisal Professionals (OCAP). I’ve always seen this organization as one of the stronger state coalitions in the context of getting things done at the legislative level. I had been looking forward to attending the Columbus conference for several months. After I made my presentation, I listened to the next speaker from the Appraisal Institute. I was startled because the speaker said there were about 5 states that currently allow certified appraisers to turn off their USPAP compliance and...

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