3.6 Crunch Time

[glenn walker]

Unfortunately, USPAP has a recent history of bending over backwards and making revisions to permit whatever their revaa partners want. As has been pointed out numerous times.

The USPAP nda folks get their feelings hurt when someone calls out taf or their golden book for what it really is.

Shouldn't put unethical folks in charge of creating a book on ethics.

Their not Unethical their Amoral which isn't Immoral and your feelings or emotions don't matter.

 

[George Hatch]

You keep stating what the appraiser's roles are, USPAP, Etc. You have a "stay in your lane and don't complain" mentality.

Half of us here as you say, have a problem with the rules for thee and not for me changes to the laws that.....lenders have to follow. Sure....lender's can choose among the allowed evaluation products. However, they cannot simply ignore the appraisal regulations and replace required appraisals with whatever is cheapest or fastest.

No, appraisers don't control lenders choice. Lenders are not our peers or partners. But lenders rules and laws regarding appraisals, still exist. Just because they have oodles of money to Lobby with, doesn't mean they can ignore them.

The mentality is that USPAP applies to appraiser conduct. Not to user conduct. It is not on the users to acknowledge or enable compliance. It is on the appraiser to either renegotiate an unreasonable expectation or assignment criteria or else decline the assignment.

As for
(first) forming the opinion that an appraiser with 5 or 20 years of full time experience at appraising SFRs and who is sufficiently proximate to a subdivision neighborhood to understand how "special and different" that neighborhood is when compared to every other subdivision in the region and
(subsequently ) shopping among those appraisers for the lowest fee...

That process is entirely permissible under their rules and regs. And it's nobody else's business as to whether that process is actually sufficient to purpose or otherwise conforms to the intent of the law.

Your apparent presumption that the low cost leaders are routinely unqualified to appraise those properties is ....interesting. Especially when 80+% of everybody is now or has previously been competing for those assignments by fee.

 

[jay trotta]

Just read this;
Insurance has become one of the biggest cost drivers.

According to the Foundation for Community Association Research, 93% of surveyed associations reported increases in property and casualty insurance premiums.

More than half those premiums rose between 11% and 25%, while about 10% reported increases exceeding 100%, adding further pressure on HOA budgets and increasing the need to collect assessments from homeowners on time.

Original article source: Cash-strapped HOAs ramp up foreclosures against delinquent homeowners: report

Keep an eye on Condo's

 

[George Hatch]

I'm confident that everyone here understands that...

The market conditions which will come to pass in the next 5 years will be even tougher for fee appraisers than they are now.

 

[J Grant]

You're talking about what you want. What you think "should be"
I'm talking about what I see of their conduct. What I think "actually is". I think even you can understand the difference between the two.

Of course I know the difference. Unbelievable.

 

[djd09]

amazingly...they do not do gse but they know it all

 

[chad hampton]

I see REO work skyrocketing again. I already seen a nice uptick. The only thing that will save it is the GSEs continued use of pumping the market with loan officers appraisals/waivers. It should already be here.

You guys should get some hard money clients. They actually still do appraisals on most every loan and they actually read them, they pull them up in credit meetings when they’re discussing loans and look at it.

Pretty bad when loan sharks act more responsibly than government sponsored Enterprises.

 

[djd09]

how about the revolvers that go from the gse to revaa to taf and then back...unethical stakeholders

 

[George Hatch]

Of course I know the difference. Unbelievable.

So if you know the difference then why do you keep referencing "what should be"? By definition, what should be...isn't. And never will be.

 

[NC Appraising]

Allegedly....

They are doing God's work. Huge profits while record low mortgage transactions?

The GESs bragging about saving borrowers money....but then making a net income of 3.8 bills.

https://www.investing.com/news/transcripts/earnings-call-transcript-freddie-mac-posts-strong-q2-2026-profit-as-stock-stays-flat-93CH-4824765

The company reported net income of $3.8 billion, up 61% from a year earlier, while net revenues increased 1% to $6.0 billion.

https://www.appraisalinstitute.org/...145&utm_content=431583145&utm_source=hs_email

Putting Fannie Mae’s $3 Billion Appraisal Savings Estimate in Context​

Fannie Mae estimates that appraisal alternatives have saved borrowers $3 billion since 2018, but what does that headline reveal about housing affordability? A closer look shows that the estimate largely reflects an assumed $550 savings across 5.34 million loans, many likely tied to lower-risk refinance transactions.