it just doesn’t pay to have staff appraisers, it’s cheaper to go to subcontractor route, when will these companies learn.

That argument only holds up for so long. Government for sale regulations. But first comes the acclimating message.

GSE’s, made possible by the FDIC with their less than 1.4% capital reserve requirement of insured funds, courtesy of the taxpayer. Are you trying to start a fight with defense of ethical process via GSE documentation? That’s sadly what’s going on these days.

Ethics is not about what’s technically allowable or not, it’s about right or wrong. It’s up to each of us individually.

What’s the ‘value’ of completely restructuring the appraisal industry to redirect all possible cash flow to tech companies? Value to whom? Probably more than an antique watch, fancy amoir, even a rich vein of gold on the side of that thar mountain. Perhaps Lady Liberty will peek and put an end to this coordinated charade where decision makers are biased in favor of those benefiting?

The cumulative societal price paid in order to roll with automated valuation, avm’s, evals, waivers, hybrids, all clearly much much higher than their actual value. If appraisers could tell laymen readers one thing, I think it would be that price is not the same as value, which is why we clearly recognize automated appraisal value products as being ultimately negative return items, despite their ‘low prices’. It’s going to be a lender free for all, all over again. What’s new?

Can you name anyone effectively regulating the tech industry as of this very moment in time?

Wordsmithing is by and large a waste of time and something best reserved for hot dog lawyers.

Appraisers estimate an opinion of value. It’s not rocket science, newspeak is for the birds.

Don’t worry about that scenario, CJK, an amc representative will be there in any given state to defend the process.

According to the fnma white paper regarding quality differences in a cooked up biased study about amc vs non amc work quality, about a year back, we did get a few important non biased facts.

Roughly half of all 80,000 licensed appraisers nationally are not seen in the FNMA CU roles. Of the 40,000 half that are known to have submitted XML reports through the CU system, roughly half of those (20,000) do not appear as having submitted anything through an amc.

The take away is this.

When lenders use an amc, they lose out on 75% of potential appraisers out there. (60,000 out of 80,000 licensed appraisers do not work for amc’s that submit through the CU system). At a bare minimum, if a whopping 50% of all appraisers total (40,000) refused mortgage lending out of principal (which we know is not the case), an amc captures a mere 50% of all available vendors out there whom do submit through the CU system. (So half are not submitting through CU, 40,000 not seen, and of the remaining 40,000, only 20,000 are known to have submitted through the CU system in a way which involved an amc.) How’s that for ‘vendor management’? The amc’s are so awful and unfair, deceptive and incompetent, even half of the backstop bottom half of appraisers who can’t escape mortgage lending still will not work for them. Hows that for bragging rights?

If more lenders would move away from amc’s, and stop suppressing fees, there would be roughly 60,000 more appraisers available for mortgage lending work. Amc’s and lenders whom work with amc’s, have caused irreparable harm for the appraisal community. They’ve hijacked work flow, driven volume down, and created unrealistically low fee standards.

This is the ‘shortage of appraisers’ argument in a nutshell.

Before the advent of CU and amc’s proliferating in 2008, does anyone know a proportion of all licensed appraises whom submitted through GSE’s?

Speaking of trade publications. In mid 2019, WorkingRE magazine published both an inspectors mag and an appraisers mag. In the inspectors mag, the headline; Don’t be a bottom surfer! In the appraisers mag; an amc solicitation every other damned page. What a joke, this industry does not have publications anymore, it has a loose assortment of self interested shills, and sometimes a decent article on this website. That’s what makes this website different, it’s not another self promoting rag, although appraisers whom write here often mistake it for such.

Care to like pay an extra technology fee or a records check fee? What’s your fee and turn time? We allow appraisers to enter their own fee so they too can participate in defrauding home owners when cost savings from reduced appraisal costs are not returned to borrowing consumers. Appraisers whom work for amc’s need to stop talking about ethics, because ethical application is not just about making a dollar, it’s about right and wrong. Something almost all amc’s and almost all appraisers whom work for them seem to be having a very difficult time understanding.

Hey Dave,

you can do anything you like, and back it up with a USPAP instructor, until you are trying to do something for a lender which is already covered by requirements, regulations and/or laws. Then you can’t do anything you want, even if it meets the minimum USPAP requirements, because you have to produce the report for the intended use. When an AMC and hence a lender is involved, all of those “intended uses” are covered by appraisal requirements for development and reporting, that no AMC can give you a pass for not doing.

So yes, it is misleading to produce a report for lending that the intended user is a GSE, if the report does not follow the printed GSE appraisal requirements. You could do anything you want for a lender that is not going to resell to a GSE, well, unless it is a regulated lender, then no, you have to follow the IAEG. But, if it is an unregulated lender with no intention of selling to the secondary market, heck yeah, you can do anything you want within USPAP, oh but, there won’t be any AMC involved either.

Funny how that appraiser independence thing really works.

If I were an AMC Dave, your two cents would only be worth one cent (fee split).

Seek the truth.

AVMs estimate value. You can certify to it.

Too bad we don’t “estimate” value. Since about USPAP 1997 or so we provide OPINIONS OF VALUE.

Of course the appraiser will be at fault. You don’t think the board with AMC employees on it, will find an AMC at fault do you?

A Real Property appraiser is required to estimate the value of a property that he has never even seen. The value will be based on photos that were taken by a person who the week prior worked at Burger King. If the appraiser makes a mistake in his report he will be called before the all mighty state board. Even if the appraiser covers all of the bases, when the loan goes into default, the appraiser will personally be held responsible for it. If 2 complaints are filed against the appraiser the all mighty state board will revoke his license. This former appraiser will now be able to take photos of homes for the few remaining appraisers for a fee of $15.00 each.

I don’t remember seeing any stats in trade magazines of how many licensed appraisers are independent appraisers vs staff appraisers. Please do share those stats. Thanks

So you don’t believe that there are staff appraisers anywhere else in the country who a lender might tap to do this? I’m quite certain my market was not unique. How do I know? Because I once WAS a staff appraiser for a regional, multistate bank (we all have those type of jobs when young). But you’re right. We’ll all come together as appraisers and “just say no”, the banks will have no choice and all will be right with the world.

Each of the various appraisal organizations has published statistics like this from time to time. There have also been various surveys published in appraisal trade magazines.

Because when it crashes, the lemmings will be called to the carpet for producing desktop appraisals, when full 1004s were required. Oh, but the AMCs, will just change names and keep it moving. Corporations never hold liability, beyond a slap on the wrist. The lemmings will take down the reputation of the industry.

And one large metropolitan area does not make a country.

What’s your point? You don’t keep up with financial news?

MKS – Where do you find such stats?

I was just responding to your statement “Ask any appraiser that has worked with RELS, now CoreLogic how that works.” Corelogic staff appraisers are no longer…