ALL of us should be moving to educate borrowers. Not for specific transactions but generally. It’s to preserve our profession. More to follow in separate articles either by myself or others arising out of Appraiserfest.

http://appraisersblogs.com/?s=hybrids

http://appraisersblogs.com/?s=waivers

Simple. Easy.

Been talking to realty agents about this, most of them have never heard of hybrids. Makes for a good routine talking point and agents will most certainly be able to provide better customer representation if they can help advise borrowers on the merits of hybrids and waivers. I make sure to mention these every time I meet agents in person.

And from a recent thread, photo attached. Evidence these ‘appraisal related’ inspections cost as little as five dollars and are likely handled by inexperienced under qualified people.

The attached is an actual screen view of the inspectors work log, per a national home inspection service faq video, (linked in previous article here) and the $5.25 compensation for that service.

“The appraiser has relied on an unknown inspector whom the client and or agent of the client was either unable or refused to specifically identify, provide qualifications regarding, or assure competent service and oversight of..” I don’t know if that’s something I could include, but would seem to be necessary were their conclusions to be relied upon.

Like most aspects of valuation service and oversight, regulatory and accountability corrections take time. Appraisers that have been whipping these out are in for a cold surprise when the rules change and that enforcement will likely be retroactive.