Correct. It is all for show, they really do not care about quality as long as they keep everything liquid. Low quality supports their argument for more waivers, which is why what I describe has not happened and will never happen.
Mortgage Backed Securities are, IMO, what started F/F down the path of removing appraisers from the equation. F/F and companies like Goldman Sachs run the business like a sports car and appraisers are nothing more than a speedbump on their way to Billionaire land.
BTW, all appraisers should watch "The Big Short" and "Margin Call" if they want to learn a little about what happened behind the scenes in the meltdown and what will probably happen again to some extent.
I've always felt sorry for appraisers that think, and have always thought, that appraisers have some type of special calling and that our jobs have real importance, i.e., protecting the public, in the lending equation, far overestimating their importance in the Big Picture. I suppose it's good for their egos. Appraisers have been tolerated by the powers-that-be and they, the appraisers, have been giving willingly their plantation masters a massive database of info via the UAD forms to be used against them and their profession.
New forms, more fodder for the databases, less need for appraisers. Get what you can while you can and start planning a good exit strategy from the F/F appraising world. Soapbox off.
As to the qualitative issue, some people seem unable to differentiate qualitative analysis and/or adjustments from incompetence and blame poor reports from incompetent appraisers on an analysis process.
