Wall Street Renovating Properties; LOs Influencing Appraisers; Why Youth Shouldn’t be in Lending

By Rob Chrisman

Posted To: Pipeline Press

In spite of the holidays notes and letters continued to come in, and covered a number of topics including influencing appraisers, how renovating properties is not for the timid, whether or not young people should be in this business, and the credit environment. Let’s jump in! Guy K. authored, “Regarding dodgy appraisals being in the news lately, I’m not sure where to start. I can see where a real estate agent can try to influence an appraiser, but as a lender, we have no control over anything related to the appraisal. We have to order appraisals through an AMC and am never able to talk to the appraiser (this includes all my support staff including processors, underwriters, etc.), so I find it hard to believe that lenders are somehow convincing appraisers to increase values by 20% (unless there…(read more)

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