Pure sophistry Don.

You know darn well these are not the types of appraisal hybrids being hyped. Frankly, they aren’t hybrids at all other than land use hybrids (aka mixed use).

Concur, Don. Back when we were ranked as Class I, II; III & IV appraisers a designation was a big deal. Its why I was a Candidate for several years. While not the same thing, it was a back door to work that would not otherwise have been available.

I also priced myself out of most reviews. ANY review takes at least as much work as the original appraisal since we are checking what that appraiser SHOULD have checked in addition to what they may or may not have checked. I still believe that 1 in 10 appraisals MUST be field reviewed in order to assure meaningful quality control. Desk reviews are essentially crap and no substitute for a good field review by a local reviewer. A decent review should cost at least 1 1/2 times what the original appraisal SHOULD have cost if not discounted below C&R.

The first time Landsafe asked for an opinion of value on a so-called “enhanced desk review” where I didn’t believe there was sufficient credible information it went all the way up to a V.P of Corporate Security for BofA, who agreed that the regional supervisor for their old Landsafe division would be getting some remedial education on what can and cannot be asked… and why.

Don many feel I come too close to that magic line for language. Perhaps. Though it was my use of limiting language in my disputed report with BREA that the judge said clearly proved the state’s allegations had no basis.

Mike, like you I mentored starting in a small fee shop, that was before licensing and the only license to be had was a brokers license. The FHA fee was $20, and the VA $5 more. Major recognition came from the designations won thru several of the professional organizations. Much of our work came from government bodies and agencies. Mortgage companies, Banks, S&L hired in-house appraisers, and if they had underwriting it was because they were too small to handle the loan by themselves.

When I left and went private, I discovered responsibility in the form of being sued. Reading carefully the terms of reviews I discovered that when you agreed with the first appraiser you took responsibility for his work, mistakes and all.

I charged full price for reviews and the few I did discovered a reason for not agreeing. That reasoning took more work than going along and my extra charges priced myself out of the market.

The world Ain’t free, and appraisal clients may try to mislead, take care and use protective language and lots of it.

I’d bet there is a hamburger menu app for that even an illiterate person across the world could use. The miracle of integrated meta tags… If you use one of those fancy new camera’s, the lenders likely can learn exactly how long you spent at an appraisal visit, if judging time frame of first picture to last, to include comps! One mortgage banker came on the forum once and disclosed this to appraisers, specifically, it’s in the jpg data. That’s why I love my kodak dc210 all these years later, have a dozen of them in the drawer. Never run out batteries, never lose the memory cards, and my meta tags still show 1999 because it resets to factory state every time you press the power button. lol. I show lenders what I want to show and otherwise really appreciate a good old fashioned simple grainy non geo tagged non time stamped photo. This is me, whistling past the graveyard. The more you know about tech… I’ve spent entirely too much time reading about the details of tech and it’s possible underlying uses and function to actually spend my own money on it. Ha! Telemetry is for the birds. Musk 2018; We’re all cyborgs now.

Article worthy, if you would, pretty please…

“A severe lack of qualified persons in appraisal distribution departments.”

Someone should do a study…

Referring to my client files… Not looking very good.

Don’t forget our services and the consumer appraisal fees which are improperly co mingled to fund middle management, are now publicly traded commodities on the stock market. I finally made it back to the corporate table, just without the entire range of normal employee benefits. Picked the wrong career again, bad luck I guess.

Yup, and don’t forget they hate us, they know how much we make, and they think all we did was walk through a house for 30 minutes, these people are called jealous haters.

They want to be able to control (hire and fire) appraisers exactly like the assignment clerk you speak of in the first paragraph. Having complete control over appraisers and they want appraisers to beg for pennies. Its pathetic

Well said !!!

And I can honestly tell all of you, I am dealing with the dumbest people that I’ve ever had to deal with in the last 30 years. Every day!!!

One of the assignment clerks I dealt with moved on up in the world and now he’s an insurance adjuster. He probably did not get along with the new panel manager who also had no experience in real estate, lending, brokerage, sales, or valuation of any sort what so ever. Lenders are obviously remiss to hire people without extensive direct experience in either lending, appraisal, or mortgage to be the top manager of appraisal panels. It’s probably better to be on the hesitant more cautious side, given these inconsistencies with what should be all around an absolutely credible trustworthy process ran by experienced professionals.

Don’t play language games. The root premise of the questions at hand are should we trust un named, unknown people to provide appraisers information we rely on? Also confused on the difference between hybrid vs gmo foods? Clearly nowhere near similar. A hybrid report is a misnomer. It’s actually a super light version of an appraisal, less the quality experienced licensed accountable respected person showing up and performing essential duties. If you can overlook that, sure it’s a ‘hybrid’. A hybridization of totally unqualified servicing persons, irresponsible licensed individuals, and deceptive middle management self promoting practices. Consumers and taxpayers deserve better.

Hybrids, Insurance company’s use accountants to INSPECT recently insured for dangerous dogs etc? Accountants and insurance agents are Professionals!?

Lenders Ask Appraisers to judge: dangerous threats to a loan, such as street widening, for threats to the loan, such as potential erection of Leased phone towers. Does the leased fee of a potential erection and income from said tower detract or enhance the property?

All of these situations are hybrid and REQUIRE a Professional appraiser.  DISALLOWING hybrids is stating all professionals are Krrooks.

Only some are, some not. We must stand on  our reputation that’s one reason starting a new business is tough

don

The engagement cited any help and type of help by name, so my assistant could have a record. The engagement cited what value I was seeking; FMV, Insurance, for a divorce, whether a cash out price or Institutional third party financing, ERC interpretation, etc. Also included is-was a caveat for collecting any fees spent for defense because of the assignment and a daily cost for any demands beyond the basic report.

Mostly no one objected, Mostly any additional work or I thru it in because the fee was adequate. Once in a while I charged for the extra stuff. When the request was dumb, like Adjusting the listings, I refused. Some clients Fired me, many didn’t.

WHAT did I loose? dumb clients?

Glad I hung it up, Used tooo bee an appraiser for 57 years.

Did I  make mistakes, WHO DON”T. All of the institutional lender have and still are.

You’d have to audit your own records and make specific comparisons to know for sure. I’ve looked back and said, how did I miss that, but knew it was my data error.

For tech support, if something high level happened to data integrity their job would be to sweep it up, if they were even aware of it in the first place. The corporate guys wanted the data, the tech guys have no practical use for it. The purchase was a data grab so your theory is plausible.

Great idea in between other duties, earning a living and blogging.

I think it IS a good idea and we should be in touch with Christensen if no one else. …IF I can only figure out how to stretch my normal 30 hr day into 36

Chris When HVCC my approach was let the market take care of it…until the market never did. HVCC wasn’t killed by AI either. It was people like Pete Vidi, Marion, Pat Turner and more than I can recall right now that killed it – I THINK past of the vehicle was DF but I could be wrong about that.

Waiting on the market to fix appraisal abuses simply does not work. I spoke to a VP of Corporate Security at BofA bank in 2010 or 2011 about a policy problem. He agreed with it. He even fixed the specific issue (a Landafe one); and told me even while he’d forward the concerns upstairs; IF BofA agreed 100% the very next day it would still take them two years to implement any policy and procedural change on how appraisals were ordered and serviced.

There is a lot of inertia in ‘the market’. It takes effort to stop and start changes.

I’ve found database export tools to be a waste of time. It’s just easier to use comparative entries anyways. Better, superiorC, good match, inf – lrgr dk, things like that.

Maybe in order to sale the data there had to be a consistency parameter so the data would look more reliable hence the manipulation. You have to prove the data to be consistent for it to bring top dollar. I am a silver membership, apex sketcher that does not subscribe to the vault or use the cloud either.

Cross reference with each other.  Mac or Windows.  Base software aurora or total, vault or not, how are you using export and import features, cloud or internal, and have you or have you not participated in the comps sharing program?

“Technology integrations”.  I believe that is exactly what Corelogic specializes in.  They’ve stumbled on a massive data grab, things you were not supposed to find out about? 

I used to get a copy of my report or a few vital pages of it now and then from an auditor whom wanted me to verify the copy they sourced from the lender was the same copy I turned in as intended.  It used to be a somewhat frequent event, I’d get several of them a year, always printed and mailed. Not lately though.

I came out of the fee shop training camp Mentors were an MAI and an SRPA. I think my first reviews were around 2 or 3 years into it.

At the time I thought the idea was to ‘catch’ something. A mistake that nearly ALL novice reviewers make. MY desk review and face to face meeting with my mentor ended that notion in no uncertain terms. Performing objective field reviews is a great learning experience (for our own appraisal work). I think you are right though. 5 to 10 years before we think about criticizing the work of others. Even longer for commercial.

Even today, after 32 years there is so much that I don’t know…though I DO know where and how to learn.