http://www.appraisersguild.org So far in the past 1 1/2 years we have successfully represented 43 appraisers that were either falsely accused of USPAP violations; blacklisted or had payments improperly withheld.

Bill, you are right. It’s one of the reasons that I don’t have any associations with Clearbox, or those that do.

I recently received an email from a firm offering $89 commercial QC reviews for appraisers. Subject to all the fine print, I thought this could be relatively inexpensive form for 3rd party checking of my own work with me as the client….Until I later saw they are a member of Ms. Trice’s various associations and a sponsor of Value Expo.

I will never attend that self serving promotion of hers, nor will I willingly use any of the services that sponsor it.

Appraisers are too smart to join as a group-“I’m smart enough to figure this out on my own, I dont need help.

Be dumb-join or creat a group, join that group with other groups, create a national lobbying powerhouse that can affect change.

goodness knows the AI is not on our side.

They say.
“Many of you will need to reach appraisers in the areas impacted by Harvey and Irma to engage appraisers for damage assessments.

You may subscribe to the Clearbox RECRUIT™ tool by subscribing here or you may purchase data (email address) and contact appraisers directly. Email address data is $1 per valid record with a minimum purchase of $2500.00.

So they are offering OUR e-mail addresses for only a dollar, but you must buy 2,500 of them ($2,500). When will the profit off of the appraiser ever stop.

Seek the truth.

The funniest part of this (and there IS a hilarious aspect) is that CU was based on appraisal data collected up to and through 2014. ALL of the analyses were based on pre 2015 data sets.

In January 2015 FNMA announced that because most appraisers had been appraising to (adjusting to) artificial FNMA guidelines for decades, FNMA was discontinuing those guidelines with an admonition for appraisers to only appraise to actual market conditions from now on.

So, this “Big Data” based state of the art alternative to professional appraisal is based on a fatally flawed data system. The so called “peer adjustments” turn out to be meaningless non market adjustments.

Couple that with regression analyses that on a good day only captures about 70% of meaningful value perceptions and what could possibly go wrong?

If you ever wondered & worried about what happened to the folks that didn’t go to jail at Enron; Lincoln Savings and Loan, Indy Mac, Aurora, Countrywide, WAMU, and a host of others you needn’t have. Apparently they are alive and well working at organizations like FNMA, FreddieMac and / or commissioned loan brokers.

Well, not all of them. Some must have been elected to Congress and the Senate. Others were already there. Still others are regulators or rule makers with ties to associations sponsored by the very people sabotaging USPAP compliance.

Come on now, y’all don’t think that is funny?

BB, where have you been friend? We looked into class action suits quite some time ago on C&R issues. Short answer-It’s not going to happen. It’s a jurisdictional quagmire issue. Attorney’s description, not mine.

And when the value doesn’t come in at the sales price or where the lender wants it, that’s the last assignment you get from them. Been there, had it happen a few times.

You hit upon the ONLY solution to the problem: Move on and profit elsewhere.

F#%# FNMA & Freddie Mac. They can shove their illegal data up their *BEEPS* There is reason they both faced insolvency but had to be saved at our expense. Incompetent Leadership From Top To Bottom

Another great article from “The Hampster”, one of a handful in the industry that predicted what was coming years ago.

The GSE’s found that 98% of the time the appraisal comes in at the Sales Price. And, the appraisal process slows down the loan funding process.

Publicly traded financial institutions have two types of income, Interest and Fee’s. When they have more Fee income, or when it is a larger part of their total income, their Stock Price goes up.

Fees are generated when new loans are made.

The more loans funded, the higher the Fee income.

Stock Prices are enhanced when Fee income increases.

Fund more loans, bonuses go up.

Lenders have contractual arrangements with the GSE’s regarding underwriting and appraisal related issues. Since 2003 one could waive an appraisal on a 80% loan in a purchase transaction if the borrower had good credit.

Instead, lenders when the other way, making more sub prime loans, and asking appraisers for their insurance, selling the loans or MBS’s saying to the investor not to worry, all their appraisers are Insured.

It only takes about 4,000 pieces of market data in any given market to be able to run an AVM. In some markets appraisers were paid $1.00 per comp by early AMC vendors. One story was that in Kansas City in 2003, two appraisers provided the 4,000 sales over a weekend to a vendor.

Change is inevitable. Technology has improved, and the use of the appraiser is changing, maybe being marginalized in the lending world.

It is time for the vocational appraiser who only took enough course work to sit for their license exam, to either get out and go do something else, or step up and take advanced course work, maybe even get a degree in RE, and credentials, and become a professional.

There is lots of appraisal work outside of lending.