Appraisalport Conference
Hey gang!
I am recovering from 3 days of CE and man was it a good bit of info to be exposed to. The main theme of the conference was related directly with fraud in the appraisal industry, mainly with mortgage transactions. I got in one class about Institutional Fraud, put on by NAIFA, and a class about appraisal reporting fraud, put on by the institute in conjunction with FNC.
There was a real gathering of high quality appraisers there. I talked with many and you can tell when someone is serious about ethics. To say the least I was very impressed.
We had several panel discussions: Government lending, Non-Origination Panel, Lender Panel, Key Note address by Chris Low, chief economist for FTN, and a panel of AMC companies.
The best one, labs related of course, was an hour about...(drum roll, please) GIS, and appraiser assisted valuation modeling. The guy putting it on, Mark Linne (who's ancestor was the guy who created genus film organization for biology, kind of a big deal), is an appraiser that is very qualified to value, but specializes in information technology.
He is a firm believer, as am I, that appraisers are bridging the gap between AVMs and traditional appraisal products. I will be writing an more in depth article about this,as it really is one of the most intriguing things I have seen in many years.
The only thing I was disappointed with was the failure of Bill Raeburn,CEO FNC, to address or mention the hundred million dollar lawsuit that was filed against them for data stripping. I happen to be an admirer of one of the plaintiffs, and I feel like it was improper to leave it just to sit out there. Data is such a big deal right now in our business that it should have either been mentioned or explained. Just my take, what's yours?
I am recovering from 3 days of CE and man was it a good bit of info to be exposed to. The main theme of the conference was related directly with fraud in the appraisal industry, mainly with mortgage transactions. I got in one class about Institutional Fraud, put on by NAIFA, and a class about appraisal reporting fraud, put on by the institute in conjunction with FNC.
There was a real gathering of high quality appraisers there. I talked with many and you can tell when someone is serious about ethics. To say the least I was very impressed.
We had several panel discussions: Government lending, Non-Origination Panel, Lender Panel, Key Note address by Chris Low, chief economist for FTN, and a panel of AMC companies.
The best one, labs related of course, was an hour about...(drum roll, please) GIS, and appraiser assisted valuation modeling. The guy putting it on, Mark Linne (who's ancestor was the guy who created genus film organization for biology, kind of a big deal), is an appraiser that is very qualified to value, but specializes in information technology.
He is a firm believer, as am I, that appraisers are bridging the gap between AVMs and traditional appraisal products. I will be writing an more in depth article about this,as it really is one of the most intriguing things I have seen in many years.
The only thing I was disappointed with was the failure of Bill Raeburn,CEO FNC, to address or mention the hundred million dollar lawsuit that was filed against them for data stripping. I happen to be an admirer of one of the plaintiffs, and I feel like it was improper to leave it just to sit out there. Data is such a big deal right now in our business that it should have either been mentioned or explained. Just my take, what's yours?
posted by woody fincham | Read entry and post comments (1 comments)
1 Comments:
I'd have been surprised to hear that the CEO of a big company spoke publicly about pending litigation. But I've been surprised to hear big companies that rely on appraisers for their business models call appraisers buggy whip manufacturers at the advent of the automobile age, so sometimes you have to expect the unexpected I guess.
In my last gig before a la mode I attended a GIS /valuation conference put on by the IAAO, and it was fascinating stuff. GIS seems to me to be like the Internet was 10 or 15 years ago: the potential for so much information and nobody has really come up with a practical application for all of it yet, at least (w/r/t GIS) in appraisal. It's going to be exciting to see how the technology and its applications develop.
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