Where are the orders!

[George Hatch]

What I think is completely irrelevant to what has been happening and what surely will happen as these trends proceed to their logical conclusion.

 

[J Grant]

What I think is completely irrelevant to what has been happening and what surely will happen as these trends proceed to their logical conclusion.

What people think leads to what they do and say, and doing and saying X instead of Y affects trends and teh outcomes. IDk what you consider a logical conclusion, but some conclusions cause extreme financial instability, pain in the loss of equity, and collapsing housing and financial markets . Every time the regulations get watered down or corrupted, it happens - the last housing crash and near collapse of the financial markets. .

Which is worse...n "Screw capitalism" - or "Screw people" - Capitalism or any economic system is decided on by people wrt what laws, policies and taxation system supports and chooses the winners and the losers within that system. Collective bargaining by the people, workers/professionals supports their role in capitalism vs the vast financial power of the fewer at the top -

 

[Zoe]

I predict government will own GSEs. @DWiley may not agree.

I predict the next downturn, it will happen. Might not be a bad time to buy GSE stock. Buy a few shares. Government will have to pay something for the stock.

Maybe not. When all the numbers are red. Stock may have negative value.

 

[Zoe]

I hope Chopra (CFPB) jumps in the mix by next year.

 

[George Hatch]

What people think leads to what they do and say, and doing and saying X instead of Y affects trends and teh outcomes. IDk what you consider a logical conclusion, but some conclusions cause extreme financial instability, pain in the loss of equity, and collapsing housing and financial markets . Every time the regulations get watered down or corrupted, it happens - the last housing crash and near collapse of the financial markets. .

Which is worse...n "Screw capitalism" - or "Screw people" - Capitalism or any economic system is decided on by people wrt what laws, policies and taxation system supports and chooses the winners and the losers within that system. Collective bargaining by the people, workers/professionals supports their role in capitalism vs the vast financial power of the fewer at the top -

You keep misunderstanding the difference between an observation and a moral judgement or advocacy. I don't LIKE what appears to be inevitable in the appraisal business but that doesn't blind me to it's virtual certitude.

 

[Zoe]

You keep misunderstanding the difference between an observation and a moral judgement or advocacy. I don't LIKE what appears to be inevitable in the appraisal business but that doesn't blind me to it's virtual certitude.

I don't think so George. You can't impose your thoughts on how her brain thinks. I think she reads things pretty good most times as far as the overall market structure and the intricacies within.

 

[Terrel L. Shields]

What I think is completely irrelevant to what has been happening and what surely will happen as these trends proceed to their logical conclusion.

And how can that logical conclusion be defeated? Is it really inevitable or can something sweep back the sea?

 

[Surf Cat]

My thinking is that if you can prompt the politicians to hold hearings on the matter some news outlets might pick up on it in furtherance of their "screw capitalism" narrative. There's plenty of rage on that theme among appraisers.

For a capitalist, value comes predominantly from labor.

So when a capitalist (the AMC) does little work and takes a disproportionate amount as profit due to their position of power they are exploiting the appraiser (the labor).

 

[George Hatch]

Self-employed appraisers are not locked into any single source of engagement or employment. No different than a farmer who sells their output in the market, whether hand-to-hand at a farmer's market or in lots or batches or its entirety to a wholesaler or brokerage. No different than a parts manufacturer who's output is being sold to a car manufacturer for use in their operations. No different than an accountant or atty who sells their output in the market.

Not to belabor the point, but the consumers in every one of these mortgage-related transactions are the lenders, not the borrowers. And the govt has already brought those lenders under regulation by first imposing our services on them and then imposing further limits on the form and the sourcing of these appraisals. Govt has prohibited two of the potential sources (borrower controlled or broker controlled) of these appraisals but has left direct engagement and AMC engagement in lieu of direct engagement. This entire end of the profession already exists as an unfunded tax on commerce. Insofar as mortgage lending end of the business, most of it wouldn't even exist if the govt hadn't imposed our services on these lenders - against their will.


Moreover, when the only solution to the self-employed appraiser's problem is govt intervention into the marketplace to FORCE the consumer (the lender) to pay more than they would otherwise pay in those transactions, that's the opposite of capitalism.

In any case and as it relates to self-employed entrepreneurs, free to profit on their own also means free to fail on their own. Any self-employed appraiser who doesn't want to go commando can go seek a 9-5, where they really WILL be working for a single employer and a single source of income.

 

[George Hatch]

And no, acknowledging the additional risks of self-employment is not a denigration of self-employment or an insult to self-employed business operators.

Consider this: The reason the mortgage-related fee appraisal business exists in it's current form is the direct result of the lenders choosing to outsource that work (the appraisals) to outside contractors (fee appraisers), paying by the piece instead of carrying them as employees (still working for splits) through thick and thin. Outsourcing the engagement and management is just another example of these lenders outsourcing the fixed and variable expenses for this work.