At the Collateral Risk Network meeting in New Orleans a few weeks ago the primary focus was on development of a new appraisal reporting format. Some referred to it as the “chutzpah” conference. Others thought it was flat out crazy town. And then there were a bunch of leaders who found it the opportunity of a lifetime to effect real change that could potentially dramatically impact the appraisal process and appraisal quality.
We had just under 100 in attendance—appraisers, lenders, AMCs, regulators, and some “inside the beltway” folks. We have Valuation Expo just about a month away and we will regroup and continue our work.
In an effort to receive additional valuable feedback from field appraisers we would like to have a contest for great ideas on how to improve the appraisal process. We will give away 3 full conference passes to Valuation Expo, including the CRN meeting. Free passes! (Room and transportation not included).
What are we looking for? Just great ideas whether they are simple or complex. Your submission can be in a narrative, can be a marked up 1004, and may focus on just one segment of the process. For example, one of the goals would be to remove superfluous data and silly processes. What needs to go? What needs to be added? Should someone other than the appraiser perform the inspection?
How about standardizing the appraisal order so you actually know what you are appraising without having to waste time just identifying the subject property?
Care to define architecture styles? Drop down menus are needed for everything. Green energy items- what do you need to report? Think outside the form.
Anything and everything is fair game. Just submit your ideas to email@example.com. Remember contest entries must be emailed and not posted on the message board below. The leaders from the CRN Forms Work Group and I will review all submissions and announce the winners after June 1st.
Have any comments or would you like to submit content of your own? Email firstname.lastname@example.org