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Other observations.(Letters to the Editor)(Letter to the editor)
- Article from:
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Valuation Insights & Perspectives
- Article date:
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January 1, 2008
- Author:
- Chapman, Craig
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Copyright informationCOPYRIGHT 2008 The Appraisal Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dear Editor:
I wanted to pass on a couple observations I've noticed lately.
A lender requiring "no time adjustments" in a declining market. Seems like a clever attempt to influence value on the high side to me. When I called to ask them about it, I got no reply. Makes me wonder. I think it could lead to a misleading appraisal.
Orders going to the cheapest, fastest appraiser. I thought Fannie Mae had a rule against that, but I have also run into appraisal management companies that are increasingly doing that all the time. Years ago when I was just going out on my own, I started doing some work for several management companies who seemed fair. At that time they took ...