The VA loan is a recourse loan, obligating the veteran beyond the value of the security.

Lynn this is a shot in the dark. Was the ‘mortgage company’ an actual lender or merely a correspondent lender? (One that packages the loan but sells it to the actual lender). Our (AGA) Texas State rep tells me VA absolutely requires the LENDER to pay the appraiser within 30 days of the time the appraisal report is uploaded to the VA Portal.

I used to work inside a ‘mortgage co’ that was no more than a facilitator (correspondent) packaging loans for other major lenders. IF that particular deal your appraisal was foreclosed, then there is a lender someplace that owes you some money still.

I happen to LIKE AI training, though it costs far more than its worth in many areas.

While McKissock may subjectively fall short, what is FAR worse than a McKissock trained appraiser is an AI Designated MAI as an EW that deliberately misrepresents paired sales; diminution claims, and then improperly applies discounts in advocacy for lack of marketability (DLOM); & discounts for lack of control (DLOC) in TICs as if it was an entity interest. The OA in this instance is an exceptionally well-educated person. If the resume is correct he is a person of influence in AI itself.

His own deposition is what will hang him with the state.

Unfortunately, neither AI training nor AI Ethics policing & enforcement is sufficient to guarantee to discourage all designated appraisers from lying in courts when they think there is little chance of being caught. All that top quality AI education and Ivy League education produced a zero credibility report that should cost this person their license.

Maybe that appraiser would have done better learning from McKissock.

Baggins, I understand the VA loan is a full recourse loan. When a VA borrower defaults the Va files a lien for the unpaid balance of the loan. Their is a confusion when the VA RE sells the property and carries back financing. The FHA, Fannie & Freddie treat the foreclosure as an equal gamble for the lender and the borrower, Therefore there are other issues.

Small claims takes two days at least, and the lender may be broke. What a wonderful opportunity for furthering your education

We have not been able to collect for a VA Appraisal due to the fact the mortgage company closed and the VA discovered that. No help.

Lynn Sperano

Thank you. Despite our usual posts, we don’t all despise or lack respect for all agents and brokers either.

There is no group of business people that I am aware of that is as stupid as real estate appraisers. I have retired from this pitiful profession but it just never stops showing me how silly our profession really is. Numerous entities MUST have our services! We are a very few professionals as a total group. We allow these AMC SOB’s to pimp us out at will. As a group we deserve every damn cheap appraisal thrown our way. Wise up people! No bucks…no Buck Rogers….tell the AMCs to do the appraisals themselves! If you do not provide the service…they cannot provide the appraisal! Let’s stop these parasites!

We had a va appraisal we did for an amc and when I asked for help from the va for non-payment all they did was to tell me the amc was out of business. Were they supposed to go to the lender to get our money?

I concur. I don’t care how an AMC gets paid by the lender for (only) the AMC fee. I DO care how appraisers get paid. We have been prohibited from collecting directly from the borrowers at the door for the appraiser fee by the official policy of FNMA effectively forcing us to permit lenders to fix, set and quote our prices; and control how we perform our jobs..

The bank depends on closing the loan for their ‘commission’ when it is sold to FNMA.

FNMA won’t let us collect direct because we can’t be trusted not to be unduly influenced by the $400 or $500, or even $600 (used to be $350) fees we may charge for non-complex work.

The bank, on the other hand, CAN be trusted to collect our fee, or better yet delegate the collection of our fee to a third party contracted directly by the bank, but whom the bank can pretend they have no appraisal fee obligations for when their agents go bankrupt.

Of course, the banks & their correspondent lenders earning tens of thousands of dollars profit per deal can be trusted by FNMA not to be unduly influenced by greed. Nor would they ever think of using their influence over their AMC lackeys to pressure the appraisers to hit value; or heaven forbid coerce them!

Requests for reconsideration are never framed in a way to pressure anyone, right?

thank you!

IF you are serious, about what you can do; join the American Guild of Appraisers. We are fighting full time to identify, analyze and propose potential solutions, but in the end, if appraisers don’t organize and speak as a united voice nothing happens. Contact janbellas@appraisersguild.org for more information.

IN ADDITION, you should join your state’s coalition of appraisers. Ideally, they will be best suited to monitor and respond to state appraisal issues. We are always willing to assist them. AGA seeks national solutions or solutions to those state issues that have national ramifications.

Being paid thru escrow is a form of contingent pay. If the escrow is extended for any reason your fee is postponed, if the escrow falls thru, your pay may be canceled. The work finished and delivered is evidence of an earned fee.

Most judges will accept that a licensed contractor is due his fee as billed.

If you accept postponed payments, will you also discount your FEE?

USPAP states that you include that YOU are competent to accept and complete the job. Any challenges toward your competence would involve questioning your license as issued by the STATE.

Good on you Frank, we with good English names should stick together and protect our selves with good English law

Thank you. Appreciate it. See the new article I shared today.

Cut to the quick. How or when an AMC gets paid by the Lender is NOT the Appraisers problem and a business arrangement that must be worked out between AMC and Lender! They pass the buck back and forth and Pressure must be brought to bear on that relationship

What about placing a mechanic’s lien against the property?

Michelle, that’s been done quite a bit both here and on FB 100% Appraisers Group. It was also a focal point of Appraiserfest down in San Antonio. Feel free to call or email anytime…er after 10 AM “anytime” (714) 366 9404. Best, Mike.

100% agreed, There is enough work for everyone !! We need a Union like the Va panel, here are the rules to our employment with you a**holes !!! End of story !!!