AQB's latest dumbing down by 'Stakeholders' Dropping the College Degree Requirement

[Terrel L. Shields]

everyone involved will always act in their own interests.

Except government. They viewed the origin of licensing appraisers as being "in their own interests" to "protect the public" by regulating RE appraisers. So, if it is in the best interest of the nation to have INDEPENDENT appraisers, then why is it not in the best interest of the public and government to see that appraisers are shielded from pressure, paid adequately to assure that the appraiser can afford the assistance and tools to make a living while doing a good job of being independent, and enough oversight be on the banks to prevent them and the AMCs from starving the appraiser into submission and forfeiting that independence? Why? Because government is about the appearance of concern, not real concern for the class of people who "suffer" from bad appraisers whose only apparent reason for being 'bad' is that they are racist. What BS. The government does not care about the appraiser, nor do they care about the downtrodden minorities. It's all hat and no saddle. It's just PR while THEIR BOSSES (the banks) continue to raid the national treasury... or as Tytler wrote - " ...they can vote themselves largesse from the public treasury."

 

[Tiffany Gibbons]

My question is not that hard on who you believe is behind this?

Next question I will ask is why?

I can get deep after you answer question one.

First initials are F and F for the who, for the why? To carry on as unregulated as much as possible and make millions packaging, and selling their bad products with good cover, then having their stakeholders betting on the shortages before the inevitable crash, that these GSE entities fully know about, that will take much longer this time due to over inflated "waiver" comparable keeping the market artificially inflated because 2% rates were much too low to try this again. Not to mention trying to cull 45,000 appraisers down to 15,000 by any means possible, so they can get their supposed appraiser shortage. Then when it all goes south (again) get the bailout by the taxpayers, fat cash for the directors and a new position. If Yellen, as out of touch as she may be, is starting to question the game, why is everyone still playing along?

 

[Tiffany Gibbons]

IDK how long someone can be in business for themselves and still object to the reality that everyone involved will always act in their own interests. You went solo in furtherance of your own interests - nobody else's. What gives you the moral standing to criticize the lenders for doing the same (within the context of what the law allows)?

At whatever point these lenders think they can get by on 90% of their deals without an appraisal then that is how they're going to proceed. Most of us will not remain in the appraisal business after that outcome settles in.

Nobody is going to bail us out for our own dumb decisions, that's the difference.

 

[George Hatch]

Except government. They viewed the origin of licensing appraisers as being "in their own interests" to "protect the public" by regulating RE appraisers. So, if it is in the best interest of the nation to have INDEPENDENT appraisers, then why is it not in the best interest of the public and government to see that appraisers are shielded from pressure, paid adequately to assure that the appraiser can afford the assistance and tools to make a living while doing a good job of being independent, and enough oversight be on the banks to prevent them and the AMCs from starving the appraiser into submission and forfeiting that independence? Why? Because government is about the appearance of concern, not real concern for the class of people who "suffer" from bad appraisers whose only apparent reason for being 'bad' is that they are racist. What BS. The government does not care about the appraiser, nor do they care about the downtrodden minorities. It's all hat and no saddle. It's just PR while THEIR BOSSES (the banks) continue to raid the national treasury... or as Tytler wrote - " ...they can vote themselves largesse from the public treasury."

All true - the govt chose to interpret C&R differently than intended, the govt chose to let the lenders slack off on their underwriting - including the quality of appraisals they're using, and the govt is one of the parties that continually says one thing and does another.

The social justice advocates appeal to the politicians to address the racial bias in appraising issue and that resulted in the politicians leaning on everyone involved in furtherance of their goals. Certain results have already ensued. That's the example I think appraisers should have been emulating. Sell their case to their politicians and beseech the govt to intervene on their behalf. Be the special interest group, don't just LARP at it.

Because so far, complaining about lenders acting like lenders and AMCs acting like AMCs hasn't been having the desired result. All that time and effort spent with zero to show for it.

 

[George Hatch]

Nobody is going to bail us out for our own dumb decisions, that's the difference.

Quite right. We are not too big to fail.

If I get hit by the big giant meteorite tomorrow a couple clients will be annoyed about having to re-order the appraisal assignments I have in process. But that will be just a distant memory to them 2 weeks from now. Nothing personal WRT me, it's just business for them.

 

[djd09]

maybe if TAF did less rewriting definitions...and more enforcing of independent...we would be in a different position...what if crooked coumo came back and wrote a new version of the hvcc, or the appraisers started a new petition...or how about an ivpi...

 

[djd09]

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what a clown show...tell them george, USPAP doesn't even require an inspection

 

[Surf Cat]

Actually, lots of people are, and there are tons of college grads - mixed degrees - who are applying for minimum wage jobs just so they can eat. One tik-tokker was whining she had dual degrees in liberal arts and spoke 3 languages. Cannot find a job and was applying at fast food places, etc. Right now, many folks in SOME places are not getting jobs readily.

This is my kid right now....

 

[Mark K]

I'm guessing that someone has done a cost-benefit analysis of loans that went bad and discovered that the best possible appraisal report did virtually nothing to stop or even slow the default rates of loans to deadbeat borrowers.

Maybe they should make borrowers have a 4-year degree instead?

 

[Tiffany Gibbons]

Quite right. We are not too big to fail.

If I get hit by the big giant meteorite tomorrow a couple clients will be annoyed about having to re-order the appraisal assignments I have in process. But that will be just a distant memory to them 2 weeks from now. Nothing personal WRT me, it's just business for them.

That's a bad analogy. Getting hit by a meteorite is not the same as a "too big to fail" entity building a "meteorite" to take down the whole appraisal profession (appraisers being the sole unbiased party in a transaction) out of the equation for theirs and their "stakeholders" reaping the benefits regardless of where their money and power actually comes from (taxpayers). I don't know how you imagine your constant running down the appraisal profession does not affect YOU as an APPRAISER, yes, appraisers want to make money working, just like YOU , but these parties have made out like bandits in the past, remained unscathed, and intend to do it again. And it is wrong, to the appraisal profession, the economy, and in effect, "the public trust". Even if you don't do lending SFR appraisals, the freewheeling will eventually affect everyone, just like last time.