Tagged: AGA

AMC Abuses? What's Your Story? 85

AMC Abuses? What’s Your Story?

Many of you have filed formal complaints against AMC abuses with State appraisal boards… The place was a small subdivision developed with coastal style homes on the Ocean side of route 12 in the Outer Banks of North Carolina. The bank was Bank of America. The AMC was LandSafe and the time was just before Corelogic purchase of Landsafe for $122 million. I was asked by this AMC to appraise a home for a purchase transaction. My comparable sales consisted of one recent sale of the next door neighbor, one on the same street, and two closed sales in the...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / LandSafe

Send it to India & Save Billions! 10

Send it to India & Save Billions!

Appraisal? Obviously its only worth ten bucks – off to India with it… Most appraisers (and consumers) know the difference between ‘right and wrong’. We don’t need the tortuous, twisted ambiguities of ASB straddling the fence, on all issues to know what is and is not okay. So far ALL they do is hypothesize that bad products can theoretically be used, IF they conform to all the USPAP rules that we all already know they fall short of. As in every single exception being sought for regulatory exceptions in the financial sector, only impractical, not very probable, best case scenarios...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / ASB

TAF Admits Current USPAP Is Inadequate & Requires Substantial Change 11

TAF / ASB Challenge USPAP

30 days after implementation of the last changes, ASB/TAF is already admitting they think the current USPAP is inadequate and requires substantial change. They’re ALREADY Doing It Again! On January 30, 2018 the Appraisal Standards Board announced the release of their Discussion Draft for the 2020-2021 USPAP based in part on a survey from 2017 & prior draft comments. I’m confused. Didn’t we just have the 2018-2019 become effective 30 days ago? Should all those that have not yet purchased 2018-2019 just save their money and wait for the significantly revised 2020-2021 revisions? Rely on word of mouth and online...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisal Subcommittee / Appraisers News

Evaluation NOT required to Meet USPAP - AGA Views on Legislative Bills 17

The Devil is Always in The Details

An evaluation is NOT required to meet USPAP requirements… I went over the bills VaCAP requested action on (see VaCAP Legislative Call to Action) and wanted to share my views as it appears they were interested in individual views. HB 1453 Real estate appraisers; changes definition of evaluations. Introduced by: R. Lee Ware SUMMARY AS INTRODUCED: Real estate appraisers; evaluations. Changes the definition of "evaluation" from an analysis, opinion, or conclusion relating to the nature, quality, value, or utility of specified interests in, or aspects of, identified real property to an opinion of the market value of real property or real...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

BPO Outsourced to India Replacing Appraisals 27

BPOs ‘Made in India’

$10 a pop ‘Made in India’ BPO… When saying you’re 'sari' just won’t do. The Blackstone Group is nothing short of legendary. To say it is a 'Big Deal' is an understatement squared. A little background from their website. “Who We Are Our investments are designed to preserve and grow our limited partners’ capital, provide financial security for millions of retirees, sovereign wealth funds, and other institutional and individual investors, and contribute to overall economic growth.” An honorable & worthy objective by any measure. Helping retirees on fixed income, little old ladies, grandmothers and mothers, albeit wealthy ones I’d guess. Sovereign...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Fannie Mae - Freddie Mac

Reconsideration of Value Requests & Undue Influence on Appraisers 21

Reconsideration of Value Requests

Open invitation for spurious reconsideration requests… No thank you. I just checked your website and glanced at your “clients” tab, Reconsideration request form. It pretty well negates all the puffed up hyperbole in your email invitation. It is people like you that are the problem, not solutions. Do you think a one of two items drop down menu is an adequate reason for asking an appraiser to reconsider their value? Do you not see a need to request a full and thorough explanation as to why your clients might be asking for a reconsideration? At a minimum didn’t you feel...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Professionals With No Appraisal Experience Cornering The Hybrid Market 6

New Hybrid Desktop Hucksters

What could lure these successful 'professionals' from their chosen careers? Fellow appraisers, I just received an advertisement for a company that wants to pay ‘me’ $50.00 an hour to do desktop appraisals. Actually, probably not me, because they prefer a degree. Now, my routine hourly rate for complex appraisal assignments is $150 ($500 for EW and something variable in between for pretty much everything else). So they are asking me to take a cut of 2/3… assuming I could meet their degree requirement “preference”. It got me thinking. I cannot always command my hourly rate for 8 hours a day,...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Experience Requirements Reduced, College Degree Still Required for CG 18

Experience Requirements Reduced

Sometimes the only substitute for experience, …is more experience. Dear Mr. Traynor: The American Guild of Appraisers has long been on record in opposition to the original requirement for a college degree to become any level of real estate appraiser. This was never a requirement of Congress at all, but rather one developed by the AQB over time. While we are pleased AQB has abandoned the college degree at the licensed and residential certification levels, we are disappointed to see it is still being proposed at the general certified level. We repeat for the record; there is nothing involved in...

AARO / AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News

Order Takers? AQB Advocating For All The New Garbage Products 24

Careless Order Takers?

Appraisers were simply order takers… A friend that refers a lot of commercial work to me forwarded the following communications from an AMC. He’s been telling to ‘go away’ for some time now. This time he played along to see exactly what it is they are hustling. I’ve redacted my friends name and eliminated excessive line spacing and repetitive email signatures. I also bold highlighted references to John Brenan & AQB communications. Otherwise it’s as copied from my email. We’ve all heard enough about hybrids so you can either read the copied emails or skip them. It’s the article from...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

AMC Business Model is Based on Lies That Hurt The Consumer 36

The Reality

There is no shortage of appraisers, only appraisers willing to work for Appraisal Management Companies, but there will be a shortage if the current toxic business climate does not change. The AMC business model is based on lies that hurt the consumer and your constituents. There are many voices that have agendas to reduce the qualifications to become a Real Estate appraiser, whether it be a Licensed Appraiser, Certified Residential Appraiser or a Certified General Appraiser. There are also voices that would like the requirements of an appraisal by a person licensed by the state to be waived as there is a...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / AppraiserLoft / Appraisers News

xml sitemap