Any chance of accepting ONE order just to get screen shots of the form and the order? You could always tell them before completing it that you determined it cannot be completed in a USPAP compliant manner – therefore has to be cancelled?

They don’t stop asking even though I’ve told them NO at least a dozen times or more.

Outstanding. Also IF we get any that claim to be USPAP compliant, lets submit them for group comment here on bogs. If consensus is a thumbs down, then we have something specific to suggest in state complaints.

For the record; AGA is not ‘going after’ appraisers. AGA IS trying too defend sound appraisal practices and assure that we are all playing on the same level regulatory field.

Appraisers don’t do the kinds of these products that I’ve seen so far.

Mike, I will do the same in CT if I get any. will be interesting to see if CT does anything about, they always seem to be more about the $$ than regulations.

$10 for India product; $11.37 for American?

I will not accept discount hybrid orders under any circumstances. ANY that I hear about with enough data to identify an order; borrower and property (+ appraiser), I will be sending to state regulators inquiring as to whether they really think $25 products are USPAP compliant. Let the chips fall where they will.

Starting to sound a lot like 2006, 2007 and “BOOM”!

Idea for a new potential source of work. Forensic reviews of BPOs for litigation purposes for any investor that feels they may have been taken advantage of.

Don, we aren’t ‘afraid’ of outsiders. We are licensed or certified through state tests that make your agents license exam look like child’s play (I’ve been a licensed salesman twice spread over a 16 year period from 1971 -1984/6).

ALL we insist on is a level playing field. Federal Law required that we become licensed, back in 1989. Ever since that time, lenders and Loan Officers, along with some agents have sought to undermine those regulations that bind us  In this specific instance, what we are referring to as a concern is the outright fraud being perpetrated against investors when these overseas magical guesses of value are portrayed as being any kind of appraisal OR  BPO! For the rating agencies to arbitrarily discount values by 10% is pure subterfuge.

I cannot think of a single Realtor®, OR broker that I know who would support such a process. Would you outsource your CMAs to Bangalore?

This issue goes far beyond the traditional Agent-appraiser conflicts; and yes, we know most agents are as honest as any other person.

Too true. Its terrible to hear the are doing them at all, let alone for free. At least they are only charging what they are worth *g*.

I agree and understand what you are saying mike, most of those realtors that I have talked to belong to NAR, the problem with realtors as you know is anyone can be one with limited education, the new ones that fly out of the door typically do them for free or for $10 to establish themselves in there mind, ultimately though they fizzle really fast, just like we have problems with AMC’s they too have problems. The smart ones don’t do them obviously or the established ones

Hi Jack, Two points;

1. Realtor® and Realtor® are registered trademarks. Lately it seems like appraisers don’t know the difference between a Realtor(r) and a real estate agent or broker. A broker is not a Realtor(r) unless they agree to abide by the NAR Code of Ethics; pay a fee and are either a broker or real estate appraiser. Its sort of like the difference between a new licensee and a certified appraiser. Much higher standards involed.

2. Agents used to do free BPOs to get business…about three to five years ago. I doubt any are that stupid anymore. Even back in 2007 BPOs didn’t pencil out when fees were $125 each.