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

[TerryRohrer]

Let me pose a question related to that self-identified rumor:

Given that neither GSE actually has a list of approved appraisers for origination appraisals (a fact that anyone working in valuations at a GSE would certainly know), how exactly, does one remove folks from that list?

I would wager a fair amount the following is effective, and likely very long overdue. So, is it simply semantics or a red herring when you talk about a list of approved appraisers, or are the GSEs truly without any means to prevent acceptance of and reliance on deficient appraisals? Or do they not know deficient appraisals when they see them?


"DiPietra is on Freddie’s “restricted vendor” list, which is essentially Freddie’s blacklist."

Freddie Mac places appraiser BBG under review

Freddie Mac halted accepting loans using valuations or appraisals from one of the Big Five appraisals firms amid widening investigation into mortgage fraud.

therealdeal.com

 

[TerryRohrer]

Let me pose a question related to that self-identified rumor:

Given that neither GSE actually has a list of approved appraisers for origination appraisals (a fact that anyone working in valuations at a GSE would certainly know), how exactly, does one remove folks from that list?

Is an Exlusionary list similar to a blacklist?

The Exclusionary List excludes individuals from participating in transactions or doing business, directly or indirectly, with Freddie Mac. Seller/Servicers are required to use the Exclusionary List in accordance with the Freddie Mac Single-Family Seller/Servicer Guide (“Guide”) and must not use the Exclusionary List for any other purpose without Freddie Mac’s written permission. Document Custodians and certain other Related Third Parties (as each term is defined in the Guide), each a “Freddie Mac Counterparty,” are required to use the Exclusionary List solely in accordance with the terms of its applicable agreements (“Agreement”) with Freddie Mac.

Freddie Mac's Exclusionary List

The Exclusionary List, or E-List, excludes individuals from participating in transactions or doing business, directly or indirectly, with Freddie Mac.

sf.freddiemac.com

 

[TerryRohrer]

Let me pose a question related to that self-identified rumor:

Given that neither GSE actually has a list of approved appraisers for origination appraisals (a fact that anyone working in valuations at a GSE would certainly know), how exactly, does one remove folks from that list?

How about a Restricted Vendor List?

" Freddie Mac reserves the right to refuse to accept Appraisals completed by any specific appraiser. Freddie Mac will maintain, at mf.freddiemac.com, the Multifamily Restricted Vendor List. If an appraiser appears on the Multifamily Restricted Vendor List, the Seller/Servicer may not use that appraiser for Multifamily Mortgages offered to Freddie Mac until notified otherwise by Freddie Mac. The decision to place a third-party vendor on the Multifamily Restricted Vendor List is solely within Freddie Mac’s discretion."
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://mf.freddiemac.com/docs/chapters/mf_guide_ch_60.pdf

 

[DWiley]

How about a Restricted Vendor List?

"The decision to place a third-party vendor on the Multifamily Restricted Vendor List is solely within Freddie Mac's discretion."
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://mf.freddiemac.com/docs/chapters/mf_guide_ch_60.pdf

You keep missing the point. The GSEs don't have approved lists. They have exclusionary lists. Anyone actually working at a GSE would know that and would never refer to an approved list. But if you want to put your faith in self-identified unsubstantiated rumors, go right ahead.

 

[TerryRohrer]

You keep missing the point. The GSEs don't have approved lists. They have exclusionary lists. Anyone actually working at a GSE would know that and would never refer to an approved list. But if you want to put your faith in self-identified unsubstantiated rumors, go right ahead.

You keep missing the point. What is the difference between "not having an approved list of appraisers" and "having a list of not-approved appraisers?" What is the difference between an appraiser who can't do any appraisals that might end up at a GSE (which includes are least some FHA reports, I understand) and an appraiser who can't complete any appraisals that might end up at a GSE? Silly little game of semantics if you ask me. Just like your defense of the infamous, garbage "Research Note" because it doesn't include the phrase "This is a persistent problem that disproportionately impacts hundreds of thousands of Black and Latino applicants" when the Press Release issued simultaneously, citing that Research Note, includes that very phrase. And I have seen Scott Reuter speaking when he was presumably sober and am not convinced that he nor many of the 7,800 Freddie employees are have the capacity to speak in only in perfectly exacting, insider phrases and buzz words whether drunk or sober. But, keep splitting hairs! I don't have enough left to pursue that exercise!

 

[Tiffany Gibbons]

There are

I'll bet the GSE jacka$$ quoted below knows! Just need to get them a bottle of Knob Creek and hear them sing!

'That GSE jacka$$ at the conference bragged that they plan to remove a considerable swath of the nation’s residential appraisers from their approved lists (they call it “de-populating”).'

GSE Exec Boasts Scheme to Slash Appraiser Numbers - Appraisers Blogs

A GSE exec bragged about their plans to drastically reduce the number of residential appraisers on their roster in favor of computer models.

appraisersblogs.com

The most hilarious part is who the mysterious GSE Jacka$$ referenced in Mr Miller's article actually was that was doing the boasting about "culling the herd" to "fellow" appraisers while drinking and smoking cigars with them. Not that the GSE webinars and conference calls don't essentially say the same thing, of course, in so many words, but it's generally a little less obvious to most, but it was made clear to those that happened to be there. But it's nothing we don't already know.

 

[TerryRohrer]

The most hilarious part is who the mysterious GSE Jacka$$ referenced in Mr Miller's article actually was that was doing the boasting about "culling the herd" to "fellow" appraisers while drinking and smoking cigars with them. Not that the GSE webinars and conference calls don't essentially say the same thing, of course, in so many words, but it's generally a little less obvious to most, but it was made clear to those that happened to be there. But it's nothing we don't already know.

Apparently, there cannot be any veracity whatsoever to the story as the supposed drunk didn't speak in precisely FreddieMac/FNMA approved terminology. I sure do wish I could defend my appraisals with a hair split that many times over!

 

[TerryRohrer]

You keep missing the point. The GSEs don't have approved lists. They have exclusionary lists. Anyone actually working at a GSE would know that and would never refer to an approved list. But if you want to put your faith in self-identified unsubstantiated rumors, go right ahead.

"Chinese whispers (some Commonwealth English), or telephone (American English and Canadian English),[1] is an internationally popular children's game in which messages are whispered from person to person and then the original and final messages are compared.[2] This sequential modification of information is called transmission chaining in the context of cultural evolution research, and is primarily used to identify the type of information that is more easily passed on from one person to another."

Telephone game - Wikipedia

en.wikipedia.org

 

[Tiffany Gibbons]

Apparently, there cannot be any veracity whatsoever to the story as the supposed drunk didn't speak in precisely FreddieMac/FNMA approved terminology. I sure do wish I could defend my appraisals with a hair split that many times over!

I believe it was an Appraisal Institute conference, so maybe another "hat" was being worn at the time.

 

[Tiffany Gibbons]

"Chinese whispers (some Commonwealth English), or telephone (American English and Canadian English),[1] is an internationally popular children's game in which messages are whispered from person to person and then the original and final messages are compared.[2] This sequential modification of information is called transmission chaining in the context of cultural evolution research, and is primarily used to identify the type of information that is more easily passed on from one person to another."

Telephone game - Wikipedia

en.wikipedia.org

I'm sorry, your comment was not accepted by the "biased word checker" app. (I'm assuming, mine stops on China cabinets every time, lol).