Appraisers are paid for their thinking, as well as some other skills. If there is no thinking, it can be called an “Automated” appraisal. Thinking is defined as giving thought to consider or reason about something – using rational judgment. Thinking about thinking can cause discomfort. “What will people think of me — if my […]
A better ROV! Please reconsider the direction of your boat. Try this bigger oar. And use it only on the right side of the boat. Appraisers have long been asked to “reconsider” their opinion. Now we have a more official “standardized process” which affects appraisers, lenders, AMCs, GSEs, and of course, the borrower. This part […]
ROV (Reconsideration of Value) is now in the boat. Is it safe? We suspect this will be a long row to get to the chosen island. Just row! It is likely this topic will be the focus of more of our “analog blog” series. To read part one of this series or other blog post […]
“Ya gotta show your work,” my third-grade teacher said. “But I got the answer right!” said I. “Ya gotta support your adjustments,” they say. “But I’m credible!” say I. Incredible. Why are we harangued to “support” our adjustments? Why are we sold one form after another of magical adjustment calculators? Another enchanted $129 class to […]
How did this “official” ROV process happen? We used to just swim, now we have a rowboat and an oar! Editor’s Note: To read the entire Row, Row, ROV series, and a few more posts on Reconsideration of Value, click here. ROV (Reconsideration of Value) is ostensibly motivated by bias issues, as well as other […]