Appraisers' Free Forum Forum Index Appraisers' Free Forum
Hosted by freeforums.org
 
 HomeHome   FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups    CalendarCalendar    RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Welcome
Welcome to Appraisers' Free Forum.

You are currently viewing our boards as a guest, which gives you limited access to view most discussions and access our other features. By joining our free community, you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content, and access many other special features. Registration is fast, simple, and absolutely free, so please, join our community today!

Will Appraiser Bond Requirement Put You out of Business?
Goto page Previous  1, 2, 3
 
Post new topic   Reply to topic    Appraisers' Free Forum Forum Index -> General Appraisal Matters
View previous topic :: View next topic  
Author Message
Steve Owen
Certified General


Joined: 14 Aug 2007
Posts: 1919
Location: Joplin, Missouri
PostPosted: Mon Jun 30, 2008 8:47 am    Post subject: Reply with quote
FrankA wrote:
Somebody please just shoot me………………..


I feel like that on a fairly regular basis when dealing with government regulation of the banking and real estate industries, Frank.
_________________
I haven't a particle of confidence in a man who has no redeeming petty vices.
- Mark Twain, a Biography
Back to top
Steve Owen
Certified General


Joined: 14 Aug 2007
Posts: 1919
Location: Joplin, Missouri
PostPosted: Tue Jul 01, 2008 6:11 am    Post subject: Reply with quote
Mako wrote:
So long Mr. & Mrs. Sweatshop! College degrees required Skippy! Trainee Limits - Short Cut Artists!

Things are really beginning to look up. Never thought I'd see the day.


Not to be argumentative, but it seems to me that in an environment where bonding and AMC's are used that it won't be the sweat shop that disappears from mortgage work, but rather the independent fee appraiser.
_________________
I haven't a particle of confidence in a man who has no redeeming petty vices.
- Mark Twain, a Biography
Back to top
Mako
Member


Joined: 11 Aug 2007
Posts: 849
PostPosted: Tue Jul 01, 2008 12:40 pm    Post subject: Reply with quote
Quote:
Not to be argumentative, but it seems to me that in an environment where bonding and AMC's are used that it won't be the sweat shop that disappears from mortgage work, but rather the independent fee appraiser.


I believe trainee limits & college requirements will eliminate the sweatshops. In fact my areas largest sweatshops during the late 90's & the early half of this decade are already a thing of the past.

I don't believe AMC's & more importantly AVM's can exist without appraisers, and sweatshops only served to corrupt AVM's data. I've always said, 'garbage in = garbage out.' If anything I believe AVM's will become more accurate in the current environment & going forward because, appraisers will NEED to be more accurate. I don't see any more reliable source than (ethical/accurate) appraisers for AVM's data.

The bond issue will work itself out IF it comes to pass. The cost WILL HAVE to be passed onto the client.
_________________
Is that Bob Dylan I hear? "The Times They Are A Changin."
Back to top
Goodpasture
Certified Residential


Joined: 11 Aug 2007
Posts: 934
Location: Pawnee Nation
PostPosted: Tue Jul 01, 2008 2:38 pm    Post subject: Reply with quote
Not sure what is going to be bonded. Bonding ensures performance and there are only two things about performance by an appraiser that can be bonded......completion of an assignment, or guaranteeing results. The other type of bond would be a personal bond in that the appraiser is bonded so he doesn't steal from the homeowner. If an assignment is dropped, another appraiser is engaged, and I am not sure there would be damages resulting from it. Bonding for value would be a violation of the law, so it doesn't apply. That covers performance bonds. Security bonding seems to be irrelevant. What other sort of bonding would there be?
_________________
You should wake up with a smile on your face.....that way you can get it over with early before you have to deal with the world
Back to top
Steve Owen
Certified General


Joined: 14 Aug 2007
Posts: 1919
Location: Joplin, Missouri
PostPosted: Tue Jul 01, 2008 9:28 pm    Post subject: Reply with quote
Goodpasture wrote:
Not sure what is going to be bonded. Bonding ensures performance and there are only two things about performance by an appraiser that can be bonded......completion of an assignment, or guaranteeing results. The other type of bond would be a personal bond in that the appraiser is bonded so he doesn't steal from the homeowner. If an assignment is dropped, another appraiser is engaged, and I am not sure there would be damages resulting from it. Bonding for value would be a violation of the law, so it doesn't apply. That covers performance bonds. Security bonding seems to be irrelevant. What other sort of bonding would there be?


There isn't that I am aware of... that was my whole problem with the whole thing. If an appraiser can't accept an assignment for pre-determined value it sort of leaves the whole thing in limbo. It's a really good example of how little the big shots in Congress understand our profession.
_________________
I haven't a particle of confidence in a man who has no redeeming petty vices.
- Mark Twain, a Biography
Back to top
FrankA
Certified Residential


Joined: 21 Aug 2007
Posts: 115
PostPosted: Wed Jul 02, 2008 6:03 pm    Post subject: Reply with quote
Goodpasture wrote:
Not sure what is going to be bonded. Bonding ensures performance and there are only two things about performance by an appraiser that can be bonded......completion of an assignment, or guaranteeing results. The other type of bond would be a personal bond in that the appraiser is bonded so he doesn't steal from the homeowner. If an assignment is dropped, another appraiser is engaged, and I am not sure there would be damages resulting from it. Bonding for value would be a violation of the law, so it doesn't apply. That covers performance bonds. Security bonding seems to be irrelevant. What other sort of bonding would there be?


Thank you Greg for agreeing with the intent of my post; much appreciated.
Back to top
Display posts from previous:   
Post new topic   Reply to topic    Appraisers' Free Forum Forum Index -> General Appraisal Matters All times are GMT - 5 Hours
Goto page Previous  1, 2, 3
Page 3 of 3

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum

Community Chest


Powered by phpBB
Hosted by FreeForums.org