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Published by OREP, E&O Insurance Experts | Sept. 11, 2013 | Vol. 286 |
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> AMC Resource Guide - Updated Aug. 2013: Quickly Find the Best AMCs to Work With |
Thursday's Webinar: Top Five Questions Asked of an Appraiser and How to Answer. Learn the most common requests that appraisers face and how to answer these questions legally and correctly.
Editor's Note: Is appraisal Independence a non-issue? You tell us.
Appraiser Independence and the Survey that Never Was
by David Brauner,
Editor
There are many ways to interpret survey result “numbers,” as any statistician
will tell you. My hunch is that sometimes
the most telling results are reflected not in the response “numbers” but in the
number of responses. Here’s what I mean.
The survey we are running to measure
Appraiser Independence in 2013 has had only 400 or so appraisers
participate. Contrast that with the nearly 18,000 who participated in the
OREP/Working RE Customary and Reasonable
Fee survey a few years ago and you
see where I’m going. Does the lack of
interest in the appraiser independence survey suggest that this issue is, well,
not much of an issue anymore?
The survey was mentioned only once, as part of the related story in the last WRE
News Edition,
Pressure
Alive and Well: Stearns Lending Sued by Ex-Chief Appraiser
(worth reading if you have not), so perhaps it got lost in the bigger picture. Or
does it indicate that
the profession has seen some real progress?
(story continues below)
(story continues)
I’m sure you hear the stories to the contrary, just like we do.
Appraisers say that influence is still a problem- a thorn that the
alphabet soup of regulation has not removed.
Most agree that it is less
flagrant today than in the days when mortgage brokers “told” appraisers what
number they needed. Most folks today are
a little more subtle. Still, appraisers
report that they are apt to lose a client for holding their ground and saying
“no” when they feel a request crosses the line.
So here’s the question: are we only hearing from the small, vocal minority who
complain pressure is alive and well or is it still an issue for you? You can
weigh in by participating in the short survey and then we’ll all know for sure.
The questions are reprinted below with a link to the survey. We’ve
included a comment box this time to
permit more nuanced responses. Please be
sure to pass the survey link along to other appraisers if you care about the
issue or think they might. We’ll report
the findings after the survey closes in a couple of weeks.
Can you Please Change the Name of the Client?
There is a live webinar tomorrow Sept. 12 presented by Richard Hagar, SRA on
how to recognize and deal with issues of appraiser influence called:
Top
Five Questions Asked of an Appraiser and How to Answer.
If you would like to be on solid footing about which requests are
proper and/or legal and which aren’t, this webinar is a very good use of your
time.
Hagar is an acknowledged expert, consulting with banks, regulators and others on appraiser and lender compliance issues. He was “there” when many of the laws were written, providing key input at the state and federal levels. More than that, he runs a successful appraisal business and faces these issues too. He shares his recipe for keeping the clients who are worth keeping without putting your license at risk: two parts knowledge and one part finesse allows you to respond authoritatively and professionally.
Who attends Hagar’s webinars? Typically, AMCs and lenders attend in significant numbers, as well many appraisers, because they know he knows his stuff. AMCs/lenders face ruinous penalties if they are caught operating on the wrong side of the law- just like appraisers. Both sides of the equation learn how to do the right thing with Hagar’s webinars. We even see the occasional regulator in attendance, to learn what Hagar knows. You can learn more or sign up here: https://www.workingre.com/webinars/top-5-questions-asked-of-an-appraiser-and-how-to-answer/
New Appraiser Independence Survey (closes 9/15/13)
1. Since HVCC was implemented (5/09) “Appraiser Independence” for you has:
A. Increased
B. Decreased
C. Remained about the Same
2. How often do you feel there is an attempt to influence your value conclusion?
A. Never
B. Infrequently
C. Occasionally
D. Fairly Often
E. Regularly
3 Within the last year, you believe you were “dropped” from an AMC/Lender roster or lost work for not meeting conditions/requests that you felt were contrary to an accurate appraisal:
a. Never
b. Infrequently
c. Occasionally
d. Fairly Often
e. Regularly
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