17 comments

• Comment Link Monday, April 13 2009 21:34 posted by IvanB

  Regulations and policies related to an appraiser’s independence from influence by anyone, including the entity writing the loan. Some say it is the love of money that is the root of all evil. Others say that the only people, who believe that, are the ones who don't have any money. Regardless, it seems so much more important during a recession. More people are getting payday loans yet donations to foundations and charitable contributions have increased from some people. (Some no doubt in order to get a tax break, but hey – every little bit counts.) How do you feel about payday loans and money?
• Comment Link Tuesday, March 24 2009 20:43 posted by J

  Another profession being destroyed by corporate take over. Appraisal has long been a profession of trust and confidence. This relationship is between the lender and the appraiser. That's right the appraiser is supposed to be the eyes of the lender. An appraiser is expected to be looking out for their client. The one who is lending the money. Is the property a sound investment and security for the loan being provided? Can the lender recover their investment in the event of a default by the borrower? When did it become necessary for there to be an intermediary between the lender and the one they hold in trust to provide them with an honest and sound estimate of the value of the asset that is being provided as collateral? Why is it the lender does not have the appraiser report directly to them via their own independent representative and I don't mean a commissioned loan agent. In a world of streamlining processes we must remember that no one is going to take care of your interests better than you and or those directly representing you that are accountable to you. When volume represents income watch out. The incentive to crank out as many transactions as possible becomes irresistable. Anyone standing in the way of volume is an obstacle and ultimately an enemy of profiteering. The system creates it's own problems. When quality is compromised for volume there is no other outcome than a breakdown. There are those that calculate the casualty losses as part of the expense of "doing business" the appraisal profession and those long employed in it are just part of the expendable casualty losses that are disposable as long as the profit is made for as long as it lasts. Then on to the next plunder. These Businesses are built on a life span that will extract as much profit for as long as possible and when the gig is up they will off it to the first sucker that comes along. When it runs it's course that all folks. Dust off your tracks and spend or hide the take. Another scam another rip off. How many more rip offs can the American Public absorb or Our Government that pays for them through our tax dollars?
• Comment Link Wednesday, January 07 2009 11:20 posted by S Wolfson

  Its happened to me, and I have the stupid lender comments in writing to prove it. I always try to get them to put their really blatantly stupid requests in writing.
  
  I have a big file I am saving up for a really big stupid lender class action suite. What I can't figure out is with so many of us appraisers out there that have been SCREWED by dirty stupid lenders, why we don't join together and have a class action against those that can be identified as being really stupid so we can operate as professionals in a free market with the intellectual propriatary agreements that lawyers have in their profession with their products.
  
  I am no less educated or certified then the lawyers are and yet.... they make a whole lot more than I do for every real estate sale they close.
• Comment Link Wednesday, July 16 2008 13:52 posted by Pete

  This was happening to me from August 2006 until June 2007. I was "recommended" by loan officers from ALL banks I work with to "change the market to stable from declining" It's no secret we are in the real estate market we are in. Real Estate with loan interest rates became a Multi Trillion Dollar Ponzi Scheme. I think it will be 5-10 years before things get any better. They are going to get MUCH worse than they are right now. Just about all of US banks are technically insolvent and it is just a matter of time before it all implodes. I was an appraiser for years running a successful small business. Now I cant survive anymore and had to close my business. I am so frustrated. Now I am in serious debt and my life if ruined. Thank you Wall Street and all the shady lenders and brokers out there.
• Comment Link Friday, February 01 2008 11:22 posted by VA Loan

  have the right apprasier and knowing what to expect from them really makes a differnece. aslong as the broker and the appraiser are working together. it really becomes a problem when one whats a little more from the other. an it is usually the broker wanting more. that is when the appraiser needs to remind the broker why and what an appraisal is. Brokers want to close deals however they need to do it the legal way.
• Comment Link Wednesday, January 30 2008 11:36 posted by Chuck Weber, SRA

  I hope every appraiser that is fearful of losing a client for providing high quality, ethical appraisals that comply with USPAP is encouraged by this.
  
  I am so tired of losing work to unethical appraisers.
• Comment Link Wednesday, January 30 2008 09:02 posted by Sharon Robertson Broome

  Good For Jeniffer!!!!!!
• Comment Link Wednesday, January 30 2008 08:43 posted by Mark A Goodwin

  This doesn't surprise me. I wish I had the information to sue also. We are now seeing many of these AMC's broadcasting orders for cheap fees and demanding 2 day turn times. What happened to quality?
• Comment Link Wednesday, January 30 2008 08:00 posted by Diana Nytko

  I have had similar experiences with LO's. and Underwriters. My addendums are getting longer & longer.
• Comment Link Wednesday, January 30 2008 05:46 posted by Henrietta Rawie

  How about Mortgage Service companies that have lost mortgage payments, take a borrowers money, but don't credit their mortgage, it happened to me. I believe the FBI is now checking it others that it's happened to. Chase Mortgage Services, with amount of $1200 Plus, taken in June of 2007, so trying to take time to fight their error, my home is now in foreclosure. I found they are so over whelmed with accounting problems, when they lost my payment and I'm still fighting their error.