Comments on: Appraisal Bullying, Still Going Strong!

By: Mike Ford CA AG, SCREA, GAA, RAA

Mike Ford CA AG, SCREA, GAA, RAA — Thu, 20 Aug 2015 01:38:04 +0000

Baggins, I think you’ve won me over (mostly). I don’t like flat fees for us anymore than I like them for AMCs from banks ($495) nationally. Having said that; IF we set up a multi tiered pricing system, it could work. $650 for a non complex, FNMA conforming loan limit SFR; $850 if “complex” and $1,000 IF the proposed transaction amount requires a certified residential appraiser OR the AMCs policies make that a requirement (we’ll see a LOT more work open up for licensees this way). Anything over 1.5 goes up $500 for each increment of $500,000 ESTIMATED value over 1.5. presuming that the degree of difficulty USUALLY increases among higher priced housing (better than the current assumption which holds they are the same as a $200,000 house in terms of complexity).

The numbers may vary, but if the result is something that approximates equivalent federal pay scales for appraisers, them Im ok with it.

By: Doctor Manhattan

Doctor Manhattan — Sat, 04 Oct 2014 04:36:41 +0000

Appraisers need to straighten themselves out and realize that they should be thanking the AMCs every day for cleaning up all of those error filled nonsensical appraisal reports.

By: Retired Appraiser

Retired Appraiser — Fri, 29 Aug 2014 15:53:36 +0000

In reply to Donna Corrado on Facebook.

They chose a more crafty way of seeking a higher number with us. After spending three days on an incredibly tough assignment we were hit with a list of some 35 comparable sales the next day from the AMC. The note simply stated please evaluate each of these comparable sales with regard to your appraisal and submit comments about why each one was not used in your appraisal.

We evaluated them promptly by copying their idiotic request and submitting it to the proper authorities with the statement claiming that it was an attempt at change the final value of the property.

The AMC refused to pay us for the assignment at that point and we then sued then in court winning twice the original cost of the appraisal. Thankfully that AMC went out of business within the year. I am now thankful for that particular assignment because it provided me with a glimpse of the future of appraising. We closed our doors within months and headed for fields of gold, leaving the fields of rust to younger lesser inexperienced appraisers.

By: Baggins

Baggins — Thu, 21 Aug 2014 17:22:20 +0000

But the article on this same website just before this, told me that 95% of all appraisals should come in at purchase price, almost as a defacto standard. LOL! / Great article here. Illustrating the process of backwards rewards and that rewarding advocacy is still present. Want accountability? Originators and salespersons must be held accountable. Absent of fines based on income, citizen and governmental enforcement simply cannot afford to prosecute. That or eliminate the secondary government avenues for loan packaging and resale. Skin in the game and such needs to be 100% and no less. As neither of those are really feasible at the moment, I’ll continue to argue for mandated rotational distribution panels, uniform fees for all appraisers on panel, and equalization of the distribution process. The root of all evil when it comes to appraisal distribution, is the art of preferential assignment. If you’re an advocacy minded appraiser, you will get more work than the next guy. That simply should not be a permissible action.

By: Annemieke Roell Hamilton

Annemieke Roell Hamilton — Wed, 20 Aug 2014 13:58:05 +0000

An Opinion of Value below the Contract price will result in a (or more) Reconsiderations of Value, insults by the realtor and, in many cases, a frivolous complaint filed to the Appraisal Board. We are held to extremely high standards but are fought every step of the way.

By: Donna Corrado on Facebook

Donna Corrado on Facebook — Wed, 20 Aug 2014 12:54:33 +0000

If you don’t bring a property into value, you will see a revision request, wanting an explanation why? And you will not see another order either.