Friday, October 14, 2011

iAppraisal Advantage attempts to legitimize BPOs

From Dave Towne, the following emails:

Subject: iAppraisal Advantage-- We have work in WASHINGTON, ARE YOU SIGNED UP FOR THIS PRODUCT?

From: Stephanie Eckes
Sent: Wed, Oct 12, 2011 6:31 pm


We have a client who is ready to start placing orders for the new iAppraisal Advantage report in your area. Please let me know if you are interested in completing this product and what your fee will be.

Most of the vendors completing this product for us today are charging in the $20.00-$35.00 range. They have said that the first report takes approximately 45 minutes to complete but once you are familiar with the form and the process that each order takes approximately 20 to 30 minutes.

Stephanie Eckes

Sent: Thursday, October 13, 2011 10:11 AM
To: Stephanie Eckes

Let me see if I understand this correctly. This "new product" is a BPO sent to me an appraiser. I'm to review the BPO's opinion and data. Pull my own research, review my research against the BPO, then render an estimated market value as an Appraiser on the subject based on a desk review of a BPO and my verification of the BPO is that about right?


Sent: Thu, Oct 13, 2011 7:17 am
From: Stephanie Eckes

You got it.

Sent: Thursday, October 13, 2011
To: Stephanie Eckes

Good Morning Stephanie!!

Thought so. This will give total credibility to a broker's opinion of value. It will in the end legitimize Brokers to bankers/lenders of what their estimation of what market value is by establishing a track record and in the end, I cut my own throat. I hope every appraiser turns you down.

I shall not be part of it.


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