Comments on: Why Would You Jeopardize Everything?

By: Treasplc

Treasplc — Sat, 25 Jun 2016 12:15:24 +0000

Appraisers practice in a fractured industry within multiple industries. However, State Boards, TAF, NAR, Banks, AMC’s are organized and appraiser are not; appraisers are the problem.

By: JC

JC — Tue, 07 Jun 2016 14:07:35 +0000

No way in hell I would do these. And for $25-30? What a joke!

By: Bill Johnson

Bill Johnson — Wed, 01 Jun 2016 22:37:22 +0000

If we could snap our fingers and starting next week every assignment covered in Dodd Frank would pay customary and reasonable fees, the lenders would simply click their hills the following week and introduce new assignment types that would not be covered. The forms being created by the lenders with help of the appraisal software companies are loopholes to avoid the law.

By: Bryan Trenholm

Bryan Trenholm — Wed, 01 Jun 2016 21:36:22 +0000

You are worth what you think you are worth. There are very few things that make me glad I’m old but this is one of them.

By: Diana N.

Diana N. — Wed, 01 Jun 2016 16:38:59 +0000

After all these years Lenders never learn their lesson, and neither do appraisers who take these assignments. I just turned down a request for a 3.5M waterfront property w/dock,pool, tennis court, and on and on for $250.00 Yea Right, told them I wouldn’t touch it for less than$1,000. Never heard back. But I know someone must have taken it. So these $25-30 jobs doesn’t surprise me. I wouldn’t be surprised if the next time you renew your E & O that the company asks if you do this kind of work. You say “yes” and they drop you like a hot potato or triple your rate.

By: Baggins - You don't own it, till you own it.

Baggins - You don't own it, till you own it. — Wed, 01 Jun 2016 14:03:45 +0000

Buying at the bottom of the market is somewhat of a misnomer these days. I’m not as aged or wise as Brian but I’ve seen a few cycles already, through several industries. Welcome to the new pump and dump economy. It’s where well vested interests create value out of thin air, and then stick someone else with the bill. People still look out for straw buyers but the system has evolved to be so much more complex than that. Me, I’m saving up for the inevitable downturn and hope to strike in the lean times, however and wherever that opportunity may present. / In the context of this article, I think it’s important to remember that these quickie products are ramping up, likely because we’re approaching or already in the mania phase. Because of the cyclical nature of pump and dump systems, there can never be enough industry workers to sustain the working requirements at the peak, so the solution is quickie service products to float the industry through until the next dip. In real estate you should do the opposite of what the solicitors suggest. If they say sell, you hold instead. If they say buy, you wait instead. When they shout despair, that’s when you move on a discount purchase opportunity. Brian, you’ll be pleasantly disconcerted to learn that in CO, I’m seeing a lot of refinance requests where they’re repeat customers from within a brief year or two prior, FHA is the easy access avenue for cash out compared to conventional, and borrowers are jumping rates just to re engage and pull a little more cash out. And it’s all happening in the mania phase as builders race to match the demand. Giving additional credence to Brians concerns that quickie products are perhaps the most risky products you could choose to work with. Exponential liability exposure is probably a relevant legal term. I’m already swapping to reo clients if possible. I’ve seen this before and do not appreciate non stop refinance cash out requests.