Not hardly – just heading off the Coester news at The Pass.

https://mailchi.mp/clearbox/dj-vu-all-over-again

The really big prize for them, when are numbers go down to nothing, is that THEY will then be allowed to use the AVM’s, Hybrids and the like, to make EVEN MORE ! At our expense !

FHA reporting just a 3% over appraisal is enough, and they are keeping tract….How are they keeping track is the question, AVM’s ?  lol And we all know an AVM means nothing !!!.

Can you imagine what will happen with Hybrids and the like will be when our numbers go down to nothing ?

What isn’t being said in all this is that AMC’s and lenders are playing politics to the point that once there are no appraisers left in the field, they will have absolutely ruined the lending process to the point that no one will be borrowing money from lenders. I would like to see the statistics on how many more buyers are just paying cash or using other alternatives to buy homes. and it is not because of the appraisal process but the lending process.

And I read today, FHA will have 14 billion in default properties because of over appraisals. Let the second round of appraisers losing their license happen. And I wonder why? Could it possibly be the AMC business model….

And I hope it’s the appraiser that over appraised at half renovated property, by $70,000 on a main traffic atery, by only using the only three settled sales to make the deal, 3 miles south in a beautiful tiny little subdivision. And a renovator flip at that and didn’t even mention the major traffic artery !!! I called a friend, he looked at the report, I asked if anything would be done to the appraiser he said no, just a slap on the wrist, and I said why, he says we see them everyday, and he said they have no idea of how to appraise. The taxpayers will pay the price as usual.

Yes just try and hold on because everyone is going to find out in the next year that AMc’s lenders and even Fannie Mae are the cause of most of the disfunction, Once they can no longer blame the appraiser for everything then people will realize its the systematic process. Complexities seem to exist so much more often then they use to

This country has literally been taken over!

You have to understand that many appraisal firms were declared AMCs simply because of the number of appraisers they previously employed as IC’s. Others such as those you cite, clearly have potential conflicts.

At best, the cherry-picking of an assignment is a factor. Assign those labor & time intensive reports with clear problems to IC contractors and only keep the apparently ‘clean’ reports in-house.

AS distasteful as it is, there is nothing inherently worse about an AMC also doing appraisals than there would be for an appraisal department in a large lending institution doing their own appraisals. As long as the pretense of a firewall between commission loan production staff and appraisal staff can be maintained.

Not hugely different than Governor Kasich of Ohio appointing William Fall (as in The William Fall Group) to be a member of that states real estate appraisal board. As long as the pretense of impartiality can be maintained, who cares?

Now that is against EVERYTHING that was put in place !!!  What an industry.

Not stated is the situations created by listing agents listing too low. This is an un-curable situation which occasionally wind down into a litigation problem. A problem for the seller, the agent and an opportunity for the appraiser.

Most of the times agents and appraisers are compatible. When an agent sells the listing to a brother-in-law at a bargain price, realtors typically remain silent, many appraisers also.

This is an internal problem for all sides, airing dirty laundry has problems, which are best served by bright light.

Some appraisers handle these problems with honesty and grace, some loose reputation with in the community.

Honesty and grace are good for business.

don

Trump said he would like all workers in the country turned into self employed. Guess why ???

I’m like – looking forward to that profit sharing check and those PnL’s. Crickets

Try reading more. Good luck, you’re going to need it. Appraisers that can’t get a leg up on the worst salesmen of the industry, not much help for them.

Solutions are abundant, but first you must learn to protect the consumer first and foremost. Willfully helping amc’s defraud borrowing consumers is not a good starting point for a professional career as an appraiser.

Yes, please do tell the name of this awesome amc. I’ll pull out my amc file, and we’ll compare notes. Please. Reminds me of Dr Manhattan on the AF. Always trying to put a positive spin on outright theft. We’re friends to the appraiser. Lies.

Can you name one? I’m sure we’d all like to learn more about such great clients.