Comments on: Big Battles Ahead for Appraisers

By: Wayne Courtney

Wayne Courtney — Fri, 04 Jan 2019 16:43:47 +0000

In reply to Baggins.

Does it really matter who ordered such foolishness? The typical appraiser should take the time to let the “WORLD” know that they are an appraiser and open for business. If they would do this they would have so much appraisal work that they can just hit the delete button when crap such as this is in the mail. Appraisers have NO bigger enemy than themselves!

By: Baggins

Baggins — Fri, 04 Jan 2019 13:23:49 +0000

In reply to Wayne Courtney.

My first question is who ordered that, do they have any practical experience in real estate and lending, and are they individually licensed. I’ve never seen such a large group of ‘managers’…

By: Baggins

Baggins — Fri, 04 Jan 2019 13:20:34 +0000

In reply to Joe Henkel.

Joe, that’s an incomplete picture. The loans are backed by fdic insurance which we the taxpayers are on the hook for. For that and many other reasons, the public has an interest in responsible lending practices. Cost is a side issue. Please stop shilling for big lenders.

By: Wayne Courtney

Wayne Courtney — Fri, 04 Jan 2019 05:17:48 +0000

In reply to Joe Henkel.

Very true….if lenders lend their OWN money. They can lend to anyone anywhere for any purpose. If they are going to take MY money as a deposit and lend it to bozo the damn clown…..I have a problem with that! Get an appraisal or lend their own money! People should be told that the bank is lending to any clown without any regard to safety….if depositors are ok with that then everything is okey dokey!

By: Wayne Courtney

Wayne Courtney — Fri, 04 Jan 2019 05:01:43 +0000

I just received an email requesting a bid and turn time for a “Commercial Only Exterior Narrative” property located about 2 hours away from my home. The appraiser is to complete a “Cost Approach” but the appraiser cannot inspect the property. The assignment requires “TWO APPROACHES”. I think they want one approach to be from an idiot and the other from someone retarded. Who in the hell is working for companies like this? No wonder why my E&O is so expensive!

By: Joe Henkel

Joe Henkel — Fri, 04 Jan 2019 03:59:03 +0000

Most AMV fall within 10%. These loans are packaged up and sold to investors. Lenders do not needs anything exact as values change over time anyhow $500 for an appraisal and wait a week or eappraise it for $30.00 and get the loan rolling?

By: Wayne Courtney

Wayne Courtney — Thu, 03 Jan 2019 23:07:00 +0000

Gee…there are some of us that want to appraise the universe…we want to be quoted in all professional publications! Then there are those of us that just want to work a typical week and provide for our family. Why does it piss me off to hear members of an organization such as AI saying that they are “THE BEST” if you do not believe it just ask them! REALLY?…they are NOT the best! All of us have backgrounds and previous experiences that make us valuable as appraisers. How many of us have appraised an explosive manufacturing facility or a partial interest for the air rights for the area above the moon! This bullshirt as I am a better appraiser than you should stop now! We should work as a group and get some results!

By: Gynell Vestal

Gynell Vestal — Tue, 01 Jan 2019 00:53:11 +0000

In reply to Abdur Abdul-Malik.

Well said Abdur!

By: Baggins

Baggins — Mon, 31 Dec 2018 15:39:44 +0000

In reply to Abdur Abdul-Malik.

“100 years of not being federal, and not having any reserves.” Mismo is just the latest face in an ever evolving usury, now even more efficient than before! Lenders can not be contained. However, consumers can be educated to understand the dangers of debt, usury, and fiat currency systems. To take the loan, or not take the loan is everyone’s individual choice. Abdur, you should post more and how about another article?

To also respond to Chris above; Did you notice how brief this up swing period was this time around? Powers that be were successful at making sure institutional investors were well positioned prior to opening the flood gates of inflation and rising prices for the masses. Not a moment after the affordability threshold was exceeded, it appears we’re moving right back into recession territory. Not a coincidence, audit the fed.

And to Retired; Are you back on that fake news again? Corporate media is a well oiled sophisticated psychological operation, don’t trust your mind and independence to them or you will be led away from traditional American principals and be delivered mind body and soul to a new global order.

By: Baggins

Baggins — Mon, 31 Dec 2018 15:19:31 +0000

In reply to Baggins.

Dang, they stay busy. Mismo news.

http://www.mismo.org/news-and-events/all-news

By: Baggins

Baggins — Mon, 31 Dec 2018 15:16:40 +0000

Mismo talks a big line… “MISMO, the leading technology standards development body for the residential and commercial real estate finance industries, is a wholly owned subsidiary of the Mortgage Bankers Association. The MISMO standards are grounded in an open process to develop, promote, and maintain voluntary electronic commerce procedures and standards that allow mortgage lenders, investors in real estate and mortgages, servicers, industry vendors, borrowers, and other parties to exchange real estate finance-related information and eMortgages more securely, efficiently, and economically. An all-volunteer organization, MISMO promotes data consistency among transaction participants, reduces processing costs, increases transparency, and boosts investor confidence in mortgages and real estate as asset classes, while permitting cost savings to be passed on to borrowers and other customers.”

There is a lot to unpack when it comes to learning about this group. Let’s talk numbers and income first.

https://docs.google.com/viewerng/viewer?url=http://www.mismo.org/Documents/MISMO/Documents/Policies+and+Procedures/MISMO+PandP+v4.0_11_16_17_APPROVED.pdf

By: Retired Appraiser

Retired Appraiser — Sun, 30 Dec 2018 22:00:04 +0000

In reply to Abdur Abdul-Malik.

“I resemble that remark”

~ President Trump

By: Abdur Abdul-Malik

Abdur Abdul-Malik — Fri, 28 Dec 2018 19:54:24 +0000

“Power tends to corrupt and absolute power corrupts absolutely.”–Lord Acton

Until sensible containment of the lending industry is in place and there is serious accountability, the desire will be to ascend towards the lending equivalent of heaven: infinite loans and infinite growth. Appraisers just get in the way of that dream…

By: JW

JW — Fri, 28 Dec 2018 19:32:38 +0000

I think if the issue really is a shortage of appraisers and timeliness why don’t we look at allowing appraisal companies train and hire employees themselves instead of tying our hands and allowing the AMC model create new types of services. Fannie Mae needs to get on board as well as USPAP. Let the appraiser create more efficient ways of completing assignments. Take out the redundant reporting and computer driven from filling that is bogging down the appraiser. Otherwise appraisers just need to ride this out because if AMC’s think they are going to save time and money by hiring realtors to complete inspections for appraisers I can tell you this will be a huge flop. Pricing will go up even more and turn times will increase

By: chris

chris — Fri, 28 Dec 2018 17:48:36 +0000

After the last 10 years, they learned about how much money is made with foreclosures, how much money they get to write off of there books…and the % of people will to pay their under water mortgages on 2nd mortgages.

Let the foreclosure work begin !!!

By: Kai Erickson on Facebook

Kai Erickson on Facebook — Fri, 28 Dec 2018 17:35:13 +0000

In reply to Kari Jacobson on Facebook.

Adapt

By: Kari Jacobson on Facebook

Kari Jacobson on Facebook — Fri, 28 Dec 2018 17:34:26 +0000

Kai Erickson

By: Jack Of All Trades

Jack Of All Trades — Fri, 28 Dec 2018 17:11:44 +0000

“Cry havoc and let slip the dogs of war“