No College Degree for Cert Generals or Residential Appraisers

[Surf Cat]

Do nothing but appraisal reviews for a year. You'll think that the qualifications and requirements for becoming an appraiser should be increased.

This is the flip side of the coin.... the appraisers who produce poorly supported appraisals, rife with boilerplate, nonsensical adjustments, with stupid statements such as "most weight given to the sales comparison approach" for their reconciliation...."are rewarded" with more work as opposed to being corrected and made to take a course to bone up on their skills to have a better grasp of appraisal methodologies. Some people are just not meant to be an appraiser.... they can't solve the puzzle. Thus, they should have their licenses revoked.

The guys and girls who have the skill set, know how to solve the problem, are not hired because they're more expensive than the slipshod skippies for the AMCs.

Then there's the big elephant in the room, the lenders are done with appraisers and appraisals as evident from their lack of oversight by their underwriters. They've handed the whole ball of wax to the AMCs. They don't care about appraiser independence by preventing themselves, borrowers, and real estate agents from influencing the appraisal process. They are not worried about overextending their loan as the taxpayers will take care of that if it defaults. They want a system like self checkout at the grocery store.

 

[J Grant]

If you're being a hypocrite then that doesn't make saying so a disparagement. It might be "not nice" for me to articulate the observation but the accuracy of the observation still stands.

The observation is a personal opinion and not benchmark-accurate. You continue to demonize appraisers for in your view, being hypocritical, pounding on about it in posts hundreds of times a year here on the board, yet rarely leveraging the same charge at the stakeholders. Yet it is all about fees for them, apparently fine for them to game regulations and get govt perk handouts.

The fact that a segment of lenders and wholesalers who want good appraisals and use their own panels must drive the stakeholders nuts- I fear they will eliminate that last holdout if they can manage it.

 

[djd09]

The bad actors and unethical stakeholders wouldn’t even have a seat at the table in determining appraisal standards and qualifications if I were king of the profession.

makes you wonder why there is a TAF...so they can launder money maybe...anyways for profit and public trust can never mix...for they will love the one and despise the other

 

[George Hatch]

Your history of posting is to twist around anything you are caoable of thinking about in order to disparage appraisers and excuse the stakeholder behavior

I never said the lenders are required to use an AMC . What the govt enabled was that it COST NOTHING for the lender to use an AMC, thus gifting the AMC an enormous market share it would not otherwise have.

I am aware the lender "pays" the AMC; however, it is a pass-through payment from the borrower's paid appraisal fee and does not COST the lender anything ( the majority of the time )

You refusal to acknowledge this reality and how it greatly tipped the scales for lenders to use an AMC is telling.

Govt didn't enable that. Not prohibiting something isn't the same thing as enabling it. AMCs saw an opportunity to pitch a program and in lieu of being prevented from exploiting that opportunity they proceeded to act in their own interests. Govt didn't GIVE them anything, govt simply didn't TAKE that alternative from them.

And stop saying I am not acknowledging the effect. That's a lie. Never have I ever disputed the effect.

 

[George Hatch]

I will also take note of the direction of this particular exchange. You are not arguing that non-college individuals are incapable of learning how to appraise under the current or previous iterations of the qualifications criteria. This exchange has been about nothing other than controlling the level of supply in the fee appraisal business (to the exclusion of all other modes of professional appraisal practice).

With respect, the fee appraisal business is not the only relevant expression of professional practice insofar as developing qualifications for licensure.

 

[J Grant]

Govt didn't enable that. Not prohibiting something isn't the same thing as enabling it. AMCs saw an opportunity to pitch a program and in lieu of being prevented from exploiting that opportunity they proceeded to act in their own interests. Govt didn't GIVE them anything, govt simply didn't TAKE that alternative from them.

And stop saying I am not acknowledging the effect. That's a lie. Never have I ever disputed the effect.

Govt did GIVE them it - in their regulatory decisions to allow a second fee survey than the first proposal etc.
When the fee abuses became evident, the government could have intervened but chose not to. That enabled it.

Prior to the HVCC, the % a third party charged was 10%- 15% - after the HVCC it jumped to 50%, or any amount the AMC can get away with. The AMC as a firewall preventing lender pressure is a joke esp when a lender can own a captive order AMC under a division.

Its too late, I am wasting my valuable time here. It is just sickening seeing the hypocritical spin go unchallenged. I will continue to work for my non-AMC clients until they, too are poached by stakeholders and AMCs who want 100% control. I feel bad for the next generation of appraisers on the res side .

 

[George Hatch]

Govt did GIVE them it - in their regulatory decisions to allow a second fee survey than the first proposal etc.
When the fee abuses became evident, the government could have intervened but chose not to. That enabled it.

Prior to the HVCC, the % a third party charged was 10%- 15% - after the HVCC it jumped to 50%, or any amount the AMC can get away with. The AMC as a firewall preventing lender pressure is a joke esp when a lender can own a captive order AMC under a division.

Its too late, I am wasting my valuable time here. It is just sickening seeing the hypocritical spin go unchallenged. I will continue to work for my non-AMC clients until they, too are poached by stakeholders and AMCs who want 100% control. I feel bad for the next generation of appraisers on the res side .

"govt could have intervened but chose not to" - I.e., govt didn't prohibit the conduct. You are literally acknowledging the fact.

In any case, this tangent still isn't an appraiser qualifications discussion, about what it takes for an individual to learn how to appraise.

 

[J Grant]

I will also take note of the direction of this particular exchange. You are not arguing that non-college individuals are incapable of learning how to appraise under the current or previous iterations of the qualifications criteria. This exchange has been about nothing other than controlling the level of supply in the fee appraisal business (to the exclusion of all other modes of professional appraisal practice).

With respect, the fee appraisal business is not the only relevant expression of professional practice insofar as developing qualifications for licensure.

We are arguing that the continuity of the ignorance in posts here and reports reviewers see shows several non-college individuals are incapable of learning how to appraise (or some dense folks who managed to pass college, perhaps )

Nothing wrong with controlling the supply, at a higher quality level of entrants. It works in commercial license appraisals and in other fields. Leave it to you to bring it up as another dig at the appraiser hypocrisy thought. The fee business is the bulk of the demand on the res side and the only side of the business so affected by the regulations around that demand.

 

[chad hampton]

I do agree jgrant, we do waste a lot of valuable time arguing **** on here. I just like pointing out all the unethical behavior that’s been occurring mostly over the last 10 to 15 years in this profession.

And I agree there isn’t much that can be done about it unless people are willing to go to extremes and quite frankly very few people in the American public are prepared to do anything like that. This went from a locally controlled profession with local clients a business model that required good customer service, accurate valuations, and a somewhat decent business acumen to control by a handful of national corporations owned by hedge funds and private equity in which churning and burning is the only thing that matters. the end result is predictable.

 

[J Grant]

"govt could have intervened but chose not to" - I.e., govt didn't prohibit the conduct. You are literally acknowledging the fact.

In any case, this tangent still isn't an appraiser qualifications discussion, about what it takes for an individual to learn how to appraise.

The tangent shows why non-competent and inexperienced appraisers are hired by clients, perpetuating the problem. These appraisers will never learn how to appraise under the present system. When the UAD 3.6 announcement came out, the board was flooded with questions about software they could buy to do the adjustments and fill out everything- they would have no problem with it picking the comps either. Maybe not their fault, they entered the field when all trust was eroded and it was churn and burn to survive.