Comments on: The Home Valuation Code of Conduct http://firsttuesdayjournal.com/the-home-valuation-code-of-conduct/ Wed, 08 Feb 2012 04:44:54 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: allan bataiff http://firsttuesdayjournal.com/the-home-valuation-code-of-conduct/comment-page-1/#comment-38344 allan bataiff Fri, 24 Jul 2009 01:11:12 +0000 http://blog.firsttuesdayjournal.com/?p=1176#comment-38344 Government compulsion through various CRAs was a substantial contributing cause to the housing bust. And how do the feds respond? By punishing the risk takers and hard working participants in the private sector. "The Director of Government and External relations for the Washington DC Office of the Appraisal Institute?" Is this a beltway lobby or something else added to laden Atlas' shoulders? Government compulsion through various CRAs was a substantial contributing cause to the housing bust.
And how do the feds respond? By punishing the risk takers and hard working participants in the private sector. “The Director of Government and External relations for the Washington DC Office of the Appraisal Institute?”
Is this a beltway lobby or something else added to laden Atlas’ shoulders?

]]> By: David Pimentel http://firsttuesdayjournal.com/the-home-valuation-code-of-conduct/comment-page-1/#comment-38336 David Pimentel Fri, 24 Jul 2009 00:38:28 +0000 http://blog.firsttuesdayjournal.com/?p=1176#comment-38336 What happened to concern for the "middle class, small business owners"? I have worked very hard over 11 years to develop a business that I can be proud of. I send all of my clients a survey after the loan closes to ask their opinion of how my company did in meeting their needs, and expectations. Every single one has come back saying their expectations we either met, or surpassed, and that they would use my company again. The main thing that got me to this point is building a team of diligent, ethical business associates that can be counted on. Appraisers, title & escrow officers, RE agents, and AE's with different lenders. And now the solution to a cyclical market is to destroy industry relationships? Who is the originator of this HVCC idea? I don't believe there is an industry that exists without some "bad apples". But because there is a small percentage of appraisers that will over value a property for a few dollars, the way to deal with them is to eliminate the good ones? That is what will happen. The good, ethical appraisers will find work else where, and who do they think will stay in business and work for a 38.5% pay cut? The bad / inexperienced ones. Here it is bottom lined - consumers bought homes at higher amounts. They are the ones that created comps for the appraisers to use. Then the next guy selling his house wanted more, and someone was willing to pay it. And away we went, until we got to the point that no one was willing to pay the higher amounts any more. Then the downward cycle began. HOW IS THAT THE APPRAISER / MLB'S FAULT??? One of my AE's told me regulations are in the works to edge out MLB's next. So instead of punishing the few bad apples, they are going to eliminate the whole industry? Are we still in America? What happened to concern for the “middle class, small business owners”?
I have worked very hard over 11 years to develop a business that I can be proud of. I send all of my clients a survey after the loan closes to ask their opinion of how my company did in meeting their needs, and expectations. Every single one has come back saying their expectations we either met, or surpassed, and that they would use my company again.

The main thing that got me to this point is building a team of diligent, ethical business associates that can be counted on. Appraisers, title & escrow officers, RE agents, and AE’s with different lenders. And now the solution to a cyclical market is to destroy industry relationships? Who is the originator of this HVCC idea?

I don’t believe there is an industry that exists without some “bad apples”. But because there is a small percentage of appraisers that will over value a property for a few dollars, the way to deal with them is to eliminate the good ones? That is what will happen. The good, ethical appraisers will find work else where, and who do they think will stay in business and work for a 38.5% pay cut? The bad / inexperienced ones.

Here it is bottom lined – consumers bought homes at higher amounts. They are the ones that created comps for the appraisers to use. Then the next guy selling his house wanted more, and someone was willing to pay it. And away we went, until we got to the point that no one was willing to pay the higher amounts any more. Then the downward cycle began. HOW IS THAT THE APPRAISER / MLB’S FAULT???

One of my AE’s told me regulations are in the works to edge out MLB’s next. So instead of punishing the few bad apples, they are going to eliminate the whole industry? Are we still in America?

]]> By: glenn egelko http://firsttuesdayjournal.com/the-home-valuation-code-of-conduct/comment-page-1/#comment-38263 glenn egelko Thu, 23 Jul 2009 17:43:13 +0000 http://blog.firsttuesdayjournal.com/?p=1176#comment-38263 The comments regarding maintaining the relationship between the mortgage broker and the lender are disingenuous and ignore that this relationship and "hitting the number" is what produced the overvalued market from which we are recovering. Perhaps another solution, such as a mandatory appraisal review by an independent third party may be more productive, but a return to the incestuous relationships that occured during the heating up of the market would be short sighted and wrong. Commisioned mortgage brokers seek out appraisers that come in with valuations that make them deals. It is unfortunate that competent appraisers may suffer from this new regulation, but they will eventually work through this. The comments regarding maintaining the relationship between the mortgage broker and the lender are disingenuous and ignore that this relationship and “hitting the number” is what produced the overvalued market from which we are recovering. Perhaps another solution, such as a mandatory appraisal review by an independent third party may be more productive, but a return to the incestuous relationships that occured during the heating up of the market would be short sighted and wrong. Commisioned mortgage brokers seek out appraisers that come in with valuations that make them deals. It is unfortunate that competent appraisers may suffer from this new regulation, but they will eventually work through this.

]]>