In this podcast I speak with Joseph Palumbo, SRA, Director of Valuation and Appraisal Management, Weichert Relocation Resources. He manages a nationwide vendor network and an in-house staff of certified review appraisers.

We talk relocation industry, USPAP, HVCC, today’s appraiser and finding $5 in both your pockets.

Check out the podcast

The Housing Helix Podcast Interview List

You can subscribe on iTunes or simply listen to the podcast on my other blog The Housing Helix.


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One Response to “[The Housing Helix Podcast] Joseph Palumbo, SRA, Director of Valuation and Appraisal Management, Weichert Relocation Resources”

  1. Edd Gillespie says:

    Even though your theme centered on appraiser competence, kudos to both of you for discussing your observations of what appraiser independence, objectivity means to lending clients.

    From what I have been told, the lending industry believes it is every bit as able to value properties as are licensed and certified appraisers. If that is what an LO believes and appraiser evidence of the value of collateral is important in the lending process then why would he/she ever allow an appraiser to be influential in whether the loan closes or not?

    This remains a burning issue for the majority of the appraisal industry and particularly the portion of it that finds enforcement of USPAP desirable and essential.

    HVCC is all that has come of any effort to bridge the divide and even though it is still touted to be the cure, it has resulted in nothing more than enabling the AMC industry. It didn’t work to solve the real problem, it wasn’t designed to work, and no amount of tweaking will fix it so it will work.

    So lets discuss a way out of this. Some proactive steps we appraisers can take to ensure the survival of the integrity of the appraisal industry while it remains a viable business. So far, my solution is anything but proactive and I’m not particularly proud of it even though by refusing anything related to AMC mortgage work I am relieved of the pressure to cheat or be fired.

    I don’t think many appraisers are in the position to refuse work, or at least they say they can’t. So how do we maintain appraiser integrity in the margins of high volume mortgage work for clients that don’t seem to want what we do?

    The problem is real. Many, many appraisers simply cannot maintain their business and remain ethical. Many have learned to do what is required by clients in order to survive and then say what is required in order to be accepted among their peers. Is the industry just doomed to live on in this schizophrenia?

    I have a feeling this didn’t start just with licensing, even though it is a popular scapegoat. I believe we have a systemic problem to solve in presenting a clear picture of what an appraiser does. Convincing clients we are not their advocate is no small part of that, because that is what they are willing to pay for. We sell honest, competent opinions, but they ain’t buying those.