Comments on: The Appraisal Waiver Avalanche

By: Baggins

Baggins — Fri, 17 Aug 2018 17:06:33 +0000

Maria, you’re beginning to really truly understand the lending industry better. I’ll take you that final yard line here.

If an activity is profitable to the lender, they promote it and find a way. If an activity hinders lending institutions profitability or they don’t get to dip into the cookie jar, they self regulate and write new rules to prohibit such competition. Audit the fed. That three word statement carries much more gravity than most people realize. If we do not know our history, we are condemned to repeat it.

Debt is a very dangerous proposition. There is no such thing as a safe mortgage loan.

By: Maria Hopkins, SRA,RA

Maria Hopkins, SRA,RA — Sat, 11 Aug 2018 15:52:32 +0000

What is really amazing with even thinking about anyone wanting hybrid appraisals is that currently we can’t get lenders to allow us to have a trainee inspect the property and perform an appraisal with a supervisory appraiser even if the supervisor inspects the property with them. I also can’t send even a cert residential appraiser to perform the appraisal even under my supervisory license without the lender approving and changing the appraiser name on the assignment. But now they will allow a nonappraiser to go inspect the property and we are to trust and use their inspection info and perform the appraisal from our office. They are going from one extreme to the other. How many more people can we insert into a transaction? Communication or the lack of it is already a major problem and this will just make it even worse. Just let us do things the way licensing was intended. We supervise a trainer until WE know they are competent and ready to inspect on their own and then directly supervise them. Now we just trust whoever went to the property. There is no way successful experienced real estate agents will go to properties for cheap fees. That kind of work goes to the newbies who don’t even know what they are doing.

Every time there is a change in the process it has unintended consequences. And every change send to make things worse.

By: Baggins

Baggins — Tue, 07 Aug 2018 23:25:28 +0000

Mr Miller, we all really hope you make headway pushing back against this. The careers of over 40,000 appraisers whom still complete mortgage lending assignments are at stake.

On the balance, there are plenty of working avenues for tech sector people, they don’t need to steal our workload in an effort to make a few easy dollars at the expense of consumer safety and sound valuation practice for the majority of mortgage lending product consumers in this entire country. Also raised deminimus is illogical. Only rich people deserve fairly balanced consumer protection?

Remember when Coester first came on the scene and a professional senior appraiser quizzed him on appraisal terminology live on camera, and he got most definitions and process questions wrong? Same thing needs to happen with the purveyors of hybrid technology products. Bet you a pepsi they can’t answer the simple questions about proper valuation and compliance methods. Names, dates, locations, specifics.

I’m still waiting on initial questions to hybrid solicitations; What is the consumer paying for these? Although I’ve answered dozens of solicitation requests, that specific question has never been answered in a truthful straight forward manner. Thank you for the great articles, keep them coming. Did you say working with energy companies can pay 150k for 6 months of labor!? I’m looking into this immediately. Thank you.