$75?

Down to $25 in USA now, and India will do it for $10. The concept of alternative products was always weak at best. Now we have seen first hand how the too big to fails intend to use them; and how much care and caution is exercised to assure they only get competent people. See other AB articles related to hybrids, etc..

I’ll go out on a limb and say outright, THERE IS NO SUCH THING AS A  GOOD ALTERNATIVE APPRAISAL PRODUCT. If there were, someone would have redacted one and published it here by now.

Keep selling those course though TAF!

Just brokers? Oh. Well if it is only brokers that are going to have some stranger forging (or more accurately using a signature without specific authorization on a specific document) that makes it all ok, right?

No misrepresentation there. I mean signing ones own name is SO difficult in this modern age. How can people survive such a burden in life!

LRES has worked very hard to earn their position near the bottom of the AMC barrel. They are in good company with such notables as Rels, Coester VMS and a veritable rogues gallery of others.

100% spot on!

IMO, the movement and push for BPOs reveals the lack of importance of the appraisal process held by nonappraisal entities in the lending arena. Plus lack of respect for the appraisal profession.

Chris you are right but… BPOs are promoted by those that want them to be used ‘almost like” an appraisal as professional inspected; knowledgeable local BROKER analyzed market analyses with credible opinions and conclusions.

The fact that they are not, is a serious issue involving widespread deception that goes all the way to the top of the regulatory agencies and GSE management.

The ability to make believe these are meaningful documents for any compliance purpose is the foundation of the product that is taking work away from regulated, professional appraisers. Its also a required part of the myth that the new varied euphemisms for appraiser assisted; third party inspected “evaluations” are anything other than what Harry Truman would have called them when he wasn’t saying ‘manure’ in deference to Bess’ sensibilities.

MY signature means I reviewed and agree with the document contents that it is affixed to.

If LRES or anyone else feels the need to “fix” things then let THEM sign it! Or, better yet, let them disclose via attachment that “the BPO signature that appears on this document was only affixed by a third party after that unknown, unidentified and unaccountable third party ‘fixed’ the BPO on their own without the signing broker’s specific additional input or knowledge.”

If they can’t do that, then they are lying, deceitful SOBs that have no business being involved in our industry or any other industry where integrity or client trust is a requirement.

Hope I have not understated my views by too much….if I have, just feel free to change them any old way that suits whatever purpose y’all may have! (Not you Chris-generic comment re LRES)

B of A was actually trying to teach them to be appraisers….It was a joke !!

I’ll give you that one. I wasn’t aware of any other request. The AMC can only claim “stupid” so many times before it does smell a little like down by the lake shore. Thanks for the update.

Al, was it a mistake the first time or the second time or how many times it has happened before? This is the second from this company that I’m aware of happening. How many appraisers mistakenly fell for this and sent in a signature? Did they accept these signatures or decline them right away? If it smells like a fish….

Instead of emailing LRES, why aren’t all recipients emailing their state real estate boards and AMC regulators? I cannot think of ANY state that would endorse the idea of a licensed real estate broker giving some anonymous clown in a corporate circus environment blank authorization to use their signature! Let LRES explain their actions to those in a position to do something about them.

Unbelievable. You know what’s even more amazing? That people that would otherwise be considered intelligent professionals actually hire these people!

Charles you are right on our part, but with this being the second time come on. You gotta assume something nefarious is going on here. Even when I was a realtor my digital signature wouldn’t be on file with any company. Crazy!

I’m as leery of these irrational requests as any of you so please pardon the bluntness of this remark but if you’re attaching and sending your electronic signature to anything but page 6 of the URAR or anyone other than your mother, you probably deserve your new career as a painter next month.

We want to be thought of as professionals but may miss the mark somewhat and lack some diligence when you read a message that the first line says-

“Thank you for being an active part of our Real Estate Agent panel..”

It was obviously not meant for appraisers in the beginning. (LRES) through Ms.Ward, immediately sent out an apology and clarification letter. Hey, they screwed up, so much for the “reliable data base”.

Anyway, kudos to those (actually all of you, based on the comments) who were professional, ethical and knowledgeable enough to protect their autograph and designation.