sadly 100% accurate

A lot of info there. Usually there is a reason low fee appraisers are able to capture work beyond the fee itself. It’s never been a secret that some appraisers (even when prohibited from doing so by FNMA guidelines) would send either trainees or completely unlicensed appraisers out to do field inspections; while they sat back in the office bragging how they regularly do 2 or 3 full appraisals a day.

Eventually some of the more influential among the deceitful pond scum decided the pretense was simply too risky to continue; and that they could con others into believing their ‘methods’ (non appraiser picture taker; google and lts photos coupled with meaningless AVM/hybrid stats derived from an mls written up by a ‘trained chimp’ er forgive me-trained, obviously highly ethical, appraiser) could do the job just as well.

They lowered the bar so far that GSEs started thinking their systems were credible alternatives.

Following a logical progression, if American appraisers can do it all without ever seeing the property why can’t INDIAN sources do them even cheaper?

When the new forms are created you can bet all neighborhood data will simply give way to census/MSA data (which as always will still continue to provide racial compositions so that redlining can be secretly retained).

No more site data or highest and best use which will all be assumptive anyway. Legality of use? Who cares? Externalities? What are the percentages that the subject is affected by any? Condition of improvements? Does anyone really care?

Comparables? No longer necessary. CU will have replaced it all and automated any adjustments…or a least half will be automated and the other half simply not made.

Hurray for Big Data! Hurray for misapplied regression software!

Maybe we should all start looking forward to a career as an ice cream truck driver. Everyone likes them.

Per the video posted, a lot of disinformation in there. The premise is false. Poor work quality is a direct result of amc’s biased and greed oriented selection trends.

Buddy of mine fielded an amc staff offer recently; $130K yearly, 40 turns a month. Given estimates of $550 or higher base to consumer, the amc had targeted him for about $260 per, keeping more on their side than they paid out. Prior to amc meddling, per the congressional report to congress on impact of valuation regulation, your average 3 person office made upward of $260K in yesterday’s money. Now that they have colluded in a systematic process of racketeering, restraint of trade, and price fixing approaches for about a decade, they’ve finally moved enough appraisers away to begin to answer the reduced servicing base they directly contributed to, with their own proprietary products instead.

In the absence of middle management, this industry would have flourished and grown, adopting new technologies which were more apt to be effective towards increased quality of work. As it stands now, if you can undercut your peers and take short cuts, you will get the majority of middle management assignment, so much you’ll field what is likely 2 to 10 new requests per day. The more you field, the more the amc profits, in clear violation of fdic rules on appraiser selection as well as junk fee rules which apparently do not apply to amc’s. Amc’s have sought to raise the deminimus because this also accelerates their goals to monopolize the market and scoot individual appraisers aside in favor of more pliable software where they have vastly more ability to control the valuation results. Because there is no individual licensing, there is no accountability. The 10K/20K dodd frank rule on C&R was supposed to stop them.

But seriously, let’s get to the most important point. What’s your fee and turn time?

Here is a screenshot of a discussion in a private forum between rural appraisers. I’ve blurred out the personally identifiable information.

Clearly, there is no shortage of rural appraisers…