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According to appraiser Thomas J. Inserra, MBA, MAI, SRA appraisers are adapting their practice to different markets and customers rather than lender loan origination work only and there is great opportunity if you know where to look. Speaking at the Valuation 2010 Expo, Inserra said appraisers can find abundant work, as a result of the current financial turmoil, from private contractors at the Federal Deposit Insurance Corporation site (links below). The work includes: litigation/attorneys; receivership assistance contractors; investigatory organizations; insurers- E&O, M&I, P&C; asset managers; loan workout and REO; tax and appeal; loan servicers and sub-servicers; accounting, audit, mark-to-market; federal, state and county governments; due diligence, securitization, portfolios; mortgage reps and warranties; auctions, REITs, investors; AMCs; Fannie/Freddie and contractors. “It probably would not do any good to simply send a resume,” said Inserra. “Each company has its own needs and procedures for engaging contractors. But appraisers should be alert to emerging market needs for appraisal services beyond just traditional lending.  Appraisers should investigate the firms, establish a relationship, understand their needs and find out specifically how to establish a contractual sub-contracting relationship.  The firms on that list are a good start but they have many competitors so there are plenty of opportunities out there for those who want to track them down,” Inserra said.

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