2009-01-09 — chicagotribune.com
The "home valuation code of conduct," issued by the companies' federal regulator late in December, is under attack by the very industry it purports to protect –– professional real estate appraisers. It's virtually certain to turn into a political issue in the new Congress, and may be the subject of a federal court suit.
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AppraiserMayhem at 07:42 2009-01-10 said:
These new appraisal "standards" are a disaster all around. I worked for appraisal management companies the largest of whom shall hence remain unnamed, and I can tell you not only did I get paid dreck for these, these were the HARDEST appraisals and review appraisals I have EVER done! Forget $150-$200, TRY EIGHTY BUCKS for A SFR APPRAISAL! THAT'S WHAT THESE AMC'S ARE PAYING! What kind of research and analysis is THAT going to buy? Try NONE! They don't care, they are not LIABLE for any E&O they are not signing. AMC's are like any other business, trash hauling, brake repair, hemorrhoid removal - they want the CHEAPEST BARE BONES suppliers out there! It's all gonna be: BROADCAST appraisal orders! The ultimate nightmare where the ORDER goes out over the wire to multiple subscribing appraisers simultaneously, and ANY Tom, Dick and Harry out there who replies first GETS IT! Appraisers are MUCH better off dealing directly with brokers - and yes, I have been threatened and worse and all I did was WALK AWAY! Permalinkadd a comment | go to forum thread
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