Abolish TAF?

[Non Sequitur]

Mr. Dawson speaking to the Federal Reserve Board. Can’t say I agree with everything he says, but the abolish TAF part I support 100%.

 

[DWiley]

Mr. Dawson speaking to the Federal Reserve Board. Can’t say I agree with everything he says, but the abolish TAF part I support 100%.

I have a couple of questions for you.

What does it mean to suggest that TAF be abolished? TAF is a private non-profit organization, What governmental entity has the power to "abolish" such an entity?

Since its inception, the USPAP has required appraisers to analyze market conditions and apply appropriate adjustments. If appraisers are failing to do that, and nothing is happening, is the primary fault for that with the entity that writes the rules or the entities that enforce the rules?

 

[George Hatch]

I listened to this clip a few days back and wasn't going to comment. The guy has been around a long time but he doesn't seem to understand the difference between establishing a standard, legislating it into law, and enforcing the law on both the licensee and the lenders who are using these appraisals. Each of which are different functions that are performed by different entities.

In looking his org up this looks like a fishing for grant money situation.

 

[Non Sequitur]

I have a couple of questions for you.

What does it mean to suggest that TAF be abolished? TAF is a private non-profit organization, What governmental entity has the power to "abolish" such an entity?

Since its inception, the USPAP has required appraisers to analyze market conditions and apply appropriate adjustments. If appraisers are failing to do that, and nothing is happening, is the primary fault for that with the entity that writes the rules or the entities that enforce the rules?

Before I start, I'm in no way hopeful that the Federal Reserve Board gives two hoots about boots on the ground appraisers or has any authority over TAF. But I love that someone is speaking truth to power, even if it's the wrong power.

Simple, congress authorized TAF to be the source of appraisal standards and appraiser qualifications for real property appraisers. Remove that authority. Then work on down the line for the rest of the insider mess that exists in DC.

As far as his belief that market condition adjustments hurt minority wealth building in real estate, it's a talking point I can excuse when I hear "abolish TAF" being spoken to powerful groups.

 

[Non Sequitur]

I listened to this clip a few days back and wasn't going to comment. The guy has been around a long time but he doesn't seem to understand the difference between establishing a standard, legislating it into law, and enforcing the law on both the licensee and the lenders who are using these appraisals. Each of which are different functions that are performed by different entities.

In looking his org up this looks like a fishing for grant money situation.

I don't disagree. But given the politics of DC and depending on how the midterms play out, he may gain traction. And he isn't the only one advocating for a national license, his difference is getting rid of the useless insider orgs in DC at the same time.

 

[George Hatch]

Revolution is comparatively easy to foment, but the irony is that it's easier to throw bombs than to govern over disparate and conflicting factions.

National license or not, appraisal standards are going to be established, promulgated and legislated into existence by some entity; that entity presumably being operated by humans, not angels. Those legislated requirements will still be enforced by some entity, also operated by humans and also comprising the weakest link in the entire licensing program.

Can't help that. The labels will change, some of the names may/may not change, but the human factor replete with all its frailties will remain consistent and untouched. The appraisers who have that oppositional defiance disorder will still express those tendencies regardless of who/what is in charge and the complaints will continue unabated. Meanwhile everyone else will continue to muddle through their own professional practice as best they can.

No matter where you go, there you are. The people who can function in this environment will be just as viable in whatever comes next, and the people who struggle will continue to struggle. Each according to their own resilience or lack thereof.

 

[Non Sequitur]

Revolution is comparatively easy to foment, but the irony is that it's easier to throw bombs than to govern over disparate and conflicting factions.

National license or not, appraisal standards are going to be established, promulgated and legislated into existence by some entity; that entity presumably being operated by humans, not angels. Those legislated requirements will still be enforced by some entity, also operated by humans and also comprising the weakest link in the entire licensing program.

Can't help that. The labels will change, some of the names may/may not change, but the human factor replete with all its frailties will remain consistent and untouched. The appraisers who have that oppositional defiance disorder will still express those tendencies regardless of who/what is in charge and the complaints will continue unabated. Meanwhile everyone else will continue to muddle through their own professional practice as best they can.

No matter where you go, there you are. The people who can function in this environment will be just as viable in whatever comes next, and the people who struggle will continue to struggle. Each according to their own resilience or lack thereof.

Maybe, maybe not. Either way, this “experiment” as Mr. Dawson described it has failed for boots on the ground real property appraisers.

 

[George Hatch]

"Failed for boots on the ground real property appraisers" means what, exactly? I mean, other than at the marketplace for services and the fees resulting from that environment.

If you're mad about the content of USPAP then which part(s) is that, exactly?
If you're mad about appraiser qualifications then which part of that and how does it affect how appraisers perform?
If you're mad about C&R then which entity are you mad at for that?
If you're mad about the lack of enforcement at the lender then which entity are you mad at for that?
If you're mad about enforcement actions not being more active and more harsh *with all of the licensees* then which entity are you mad at for that?

 

[DWiley]

Maybe, maybe not. Either way, this “experiment” as Mr. Dawson described it has failed for boots on the ground real property appraisers.

His "proof" of that failure is noting that 90% of appraisers don't make time adjustments. Is that proof of what he asserts?

If appraisers don't do market analysis and don't make time adjustments, how is that the fault of anyone other than the appraisers doing the work?

 

[Non Sequitur]

His "proof" of that failure is noting that 90% of appraisers don't make time adjustments. Is that proof of what he asserts?

Dunno', but the talking point landed him a spot in front of the Federal Reserve Board.