Mark it is so good to hear your voice again. Government was designed to protect but I haven’t seen that in quite some time. The Appraisers are responsible for the general public and the government’s agenda is to stop that from happening because of their vast agendas and it has been my experience that those quasi governmental agencies will swiftly remove anything that gets in their way. Just watch what they called the news and their so call journalists. Agenda based propaganda. Most people haven’t a clue because they don’t want one, they want their way. In the world today people lie, cheat and steal and ruin an industry when they don’t agree with it. The exception to that is The Fed, FNMA and FHLMC and the other alphabet quasi governmental agencies. The Uniform Standards of Appraisal Practice, our ethics, only allow us to advocate our work. Not a gang mentality of political hacks whose agenda is to be re elected.

Amen!!!

Fannie and Freddie had to have the Securities and Exchange Commission come down on them the last time the market had trouble. We took the brunt of that mess because we had no one to represent us, not even the Appraisal Institute. The SEC focused on fraud with FNMA and FHLMC. Just more of the same. It’s awful.

You are correct, Sir.

Situation; In Denver, multi families were common. Meaning, singular ownership of multiple units, income properties. They required renters to be in place, because there were multiple units under one singular owners deed. This is the proper definition of a ‘multi family’ property.

But over time, investors and others do ‘party wall agreements’ where they buy all those units, in one simple sale, then separate the individual ownership of all units at once, into every unit having it’s own owner and it’s own singular deed for each singular unit. So no longer multi family, but now they all become single family attached. And then if it’s a duplex, they sell two units, if it’s a triplex, they sell three units, quadplex, they sell four units. These will never again be multi family properties because their use has changed to single family attached.

The sales records indicate much higher pricing previously, because those higher prices reflect a singular deed, which conveyed three or four units, all at once. But now they’re parsed out and separated each with their own individual deed, they sell for less per individual unit. And although the market keeps ticking up, the actual cost per unit goes down compared to them all selling at once as a multi family group.

This confuses the hell out of avm systems, exacerbated by the fact the dullards at MLS Corelogic Matrix, as well as the RESO group (real estate standards) can not even define these properties correctly and are calling single family attached units as multi family units, simply due to attached structure. Multifamily is income, multiple units under one singular ownership. And attached single family is correct for multiple attached units, each with their own singular owner.

This is also a mechanism for investors to defraud home owners because the owners do simple research for multi family and find results which indicate single family attached, described improperly as multi families, which leads to incorrectly interpreted data. The program is so wildly successful due to Corelogics improper building type descriptions, the majority of multi families have been targeted by investors whom make damned fortunes tricking people into selling multi families for far less than they are really worth.

What’s a nearly 100% higher avm value or $200k spread being off, with a 91% confidence score by the avm, and a very high sell score prediction, among friends? Image attached.

It takes additional research to identify the units are now separated to single families, to correctly interpret the now qualified data. Especially confusing when the subject property, still carries the main address which used to describe all three or four properties in that multi family. With proper party wall agreements, also comes postal service address adding, a technical challenge the investors are aware of but most individuals are not aware is a possibility after separating the deeds. Like with multi, they’ll often all have the same address, with a unit # a,b,c,d, after or something like that. But after parsing, they may all then get a 1/2 or a number tick down for a new address for each individual unit. The avm systems are simply not sophisticated enough to properly qualify and then interpret this data.

Another clear as day example of the avm systems being so unreliable in many common situations. And an example of how people relying on avm systems, may confuse inadequate programs for some form of biased interpretation by the appraiser. ‘Let my check the avm and see if you did this appraisal right.’

And one more, this from the first accidental hit.

Borrowers bill of rights.

Flash forward today, modified the goal to; ‘borrowers bill of entitlements’ instead.

People in this industry used to actually care about consumer protection. We did not have industry insiders whom masquerade as appraisers, trying to tell us our service was to the lender and the lender alone regardless of how they treated and deceived consumers. Appraisers whom play along with the new status quo of today would have been kicked right out of this business a mere decade ago.

third

two of three

https://web.archive.org/web/20090221025846/http://www.mortgagefraudwatchlist.org/

O.k., dot org not dot com. Third times a charm. Many more hits too. That’s how the archive works, just keep at it and eventually you get there.

Below, three in a row, the ‘about us’ commentary from Pam.

Oh sorry, I picked the wrong website, just going by memory. Above I researched stopmortgagefraud dot com. But Pams site was;

http://www.mortgagefraudwatchlist.org

Let’s do the same thing again instead.

https://web.archive.org/web/20230000000000*/mortgagefraudwatchlist.com

Oh yes, far less content here, so we get the interactive calendar instead. Click and go, screen save image with snipping tool, and that’s how it’s done.

Oh the links to appraisers petitions! Appraisers used to care. We can’t even get but a handful of people to write in about avm’s subbing us out completely, and today is the final day of letter writing.
https://appraisersblogs.com/dazzled-by-wizardry-federal-mortgage-regulators-ignore-zillow-debacle

https://web.archive.org/web/20230607075514/http://www.stopmortgagefraud.com/

Her old domain name is up for sale in case anyone wants it.

How to use the way back machine.

1. Know what the way back machine is.

A dedicated effort of pioneers in the internet and tech industry whom understood that now there is so much content being proliferated via digital media which is not in long lasting physical media form, this could cause a dark ages missing ages type of effect in the future if the data was not somehow maintained in a dedicated digital media repository. Because the internet is monetized, and it costs money to host, they felt it was an altruistic effort worthy of expense, such as that of a library, to retain this data. The way back machine is your digital library assistant for websites from the past. Bot cralwers surf the net relentlessly and follow various random links to assemble partial digital profiles of popular websites. An additional note is that nefarious actors are starting to wipe archives in a manner similar to the living nature of the now so discredited and biased wikipedia efforts. So we hope the Way Back Machine continues to stand the test of time, it can be an invaluable resource and will only gain value as time passes and domain ownership shifts. Personally, this is why I still buy books, in support of traditional long lasting physical media models of informational sharing. Modern day book burning is all around us but people are unaware that’s happening, because; digital. People go to Way Back to see the content as it was at a specific point in time, such as reviewing a civil war event, from a rare book published at that time. Other similar data repository formation efforts have been ongoing with twitter facebook and such but are nowhere near as helpful as way back.

2. Type in the website name to see if there are results (link provided for pams website above.)

3. Observe the top bar chronological time line of data saving and content saving.

Note the ability to hover over, use calender tool, and then randomly select. You can often just go to the obvious high point highest traffic range, then click in. I picked a few from 04/22/2006, which is where I randomly clicked to this time.

4. Attempt to navigate the pages and see what works. Click away. Save as image snips if wanted. Use right click open image in new window to review small texts, if the image is condensed on the page, otherwise sometimes the effect is similar to a non reversible zip file and permanently reduced in pixel density and size. Use calender option upper right to observe site changes in chronological order if desired.

Other times, you may see interactive calendars with little bubbles like heat maps sort of tracking, depending on how many site scrapes the auto bots acquired. Just click away and see what you find. Now you know how to use the way back machine and there are many more functions and capabilities there as well.

Agree, she truly deserved a medal. Per Joyce Potts, she’s alive and kicking!

Great points Bags about the decimation of our “industry”. In 2007 they were raising education requirements to try and lower the # of Appraisers entering the “profession”. If anyone is owed reparations in this country it is the Independent Fee Appraiser.

Crowley 😉

Oh yes, I’m posting this alternate link to the full document all the time. As her site is no longer active.

My repeat statement whenever amc’s come up; Missing the IVPI proposal yet?

https://www.workingre.com/wp-content/uploads/2013/08/IVPI-Proposalfinal.pdf

Imagine if the tens if not hundreds of billions the appraisal management companies stole from appraisers went to appraisers instead. How diverse our industry would be, how many quality well educated experienced new hires there would be. Imagine the entire mortgage lending industry having to go through one central location to order appraisals, and all appraisers willing to participate received a fair and evenly balanced portion of those orders. There would never have been slimebag cut through undercutting appraisers reducing fees in order to get ahead in line and more volume than the next guy. We could have all made it, just like the old days when appraisers could simply appeal to mortgage people directly for work. Again; Missing the IVPI proposal yet? People need to give that a full on read front to back to understand that was the popular model prior to the whole sale sell out by taf and hijacking of our industry by tavma, now revaa, and their supporting conspirators like alterra. This one deserves a meme from the crypt.

I can’t say for sure about Pam Crowley, it’s been a long time since HVCC and the IVPI Proposal and battle – which we lost. She was under a lot of pressure, probably litigation from AMC’s and there were some health issues with her husband if I remember correctly. I think she ghosted herself from the industry after working selflessly for years from what I saw. She deserves a medal are at least a Hall of Fame nomination. . From Back to the Future 2008 – READ THIS THREAD https://appraisersforum.com/forums/threads/time-for-the-dodd-crowley-ivpi-proposal.143700/

Eric, what happened to Pam?

https://money.com/housing-bubble/

Article about unraveling housing bubble via 2015. History repeats. They’re going to transform something, that’s for sure. Having learned lessons from the past, now instead of flipping out foreclosure notices left and right, we get artificially propped up markets where the foreclosures are staggered, and never seen by regular citizens, because, like always, like before, the lending communities primary obligation is to investors, not borrowers. Investment class gets first dibs on all defaults. Problem solved. Nevermind that’s trillions of savings possible to the people, held with banksters instead. They just have to eliminate independent checks and balances to get there. From below article, the four billion dollar a year appraisal industry. Most people will never get their minds around how much the amc industry stole from all of us, and how compromised the lending markets have become due to their presence.

The coin has now flipped, as pdc people will storm borrowers homes, bifur and desktop appraisals from half a world away, avm’s and waivers will rubber stamp every hopeful deal. We’ll hear new stories of deceit and deception. Lenders are maintaining a false sense of security because everyone is not mad at them yet. Give it time. These moves towards automation are offensive and intrusive. As if society shifted and we’re cool with dealing with artificial intelligence on every stop, screw the humans, who needs them, authoritarian model or bust. We as a country are really losing sight of the goal, We The People, not we that answer to machines. An AI chatbot called me sweetheart in an old ladies voice at wendy’s and I’ll never use a wendy’s drive through again. Terminator vibes.

Soon that AI will be telling you at the behest of it’s programmers, what your home is worth, if you’ll keep the home or lose it, if you deserve freedom and liberty, or even food and access to medicine. They’ll have a complete 3d scan of every home eventually. Your privacy? Not their concern. People need to take a big giant step back from this automated bull crap and consider what it means to be human, to care bout others, and to have sensible manual processes involved. To believe in fairness that we should all have jobs. We’re in 1980 again, when all the slimebag company owners are offshoring everything possible and doling out pink slips to employees as fast as humanly possible. Great news guys, you’re fired, AI is here.They’re worshiping the next golden idol right now. Replace an entire industry of licensed professionals with AI, sure why not. Valuation, sales, taking orders, phone support, art, science, literature, screen writing, delivery, engineering, drafting. Gone. Welcome to our dystopian future. The real pandemic is how stupid everyone is to continue subscribing to these models.

Excerpt; a machine with cogs called brokers and bankers, fueled by money poured in by investment banks, bond traders and hedge fund managers. The system prospered and grew, introducing new players into the financing transaction and transforming the roles of others. Finally it ran amok, creating huge incentives at every level of a home sale or a refi to sacrifice prudence in pursuit of a killing. Market checks and balances should have prevented the process from getting out of control. But they were corrupted, co-opted or simply steamrollered.

Prayers to Pam Crowley. I got to meet her once and very proud of that opportunity. She is missed