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AI, ASA, ASFMRA and NAIFA Response Letter on HVCC

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Elliott

Thread Starter
Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
http://www.appraisalinstitute.org/about/news/2008/12_26_08_RevisedHVCC.aspx

"We are reviewing the revised Appraisal Code to study its impact on the appraisal profession and the mortgage lending industry. While we applaud the thrust of the Appraisal Code to increase appraisal independence, we have continuing concerns that certain elements are at odds with the goal of obtaining competently prepared appraisals, specifically, provisions that place increasing reliance on unregulated appraisal management companies. Like much of the mortgage industry during the years that led up to the current housing crisis, these entities are unregulated. Further, the current business model of many appraisal management companies places appraisal quality last, while shifting the cost of appraisal management services to the consumer without any disclosure. "
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
I like the letter. Hopefully, these groups will follow up, forcefully.
 

Ken B

Elite Member
Joined
Feb 18, 2004
Professional Status
Certified General Appraiser
State
Florida
Yet the reality is that the very most they can do is write letters. It is humorous when non-members gripe about the organizations (any and all of them) "not doing anything." What, they should go bust some kneecaps?
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
Yet the reality is that the very most they can do is write letters. It is humorous when non-members gripe about the organizations (any and all of them) "not doing anything." What, they should go bust some kneecaps?
Let me see what could be done... aside from writing letters that end up in circular file??
  • Full page ads in the NY Times and Washington Post?
  • Interviews on 60 minutes and 20/20?
  • Asking to testify at Congressional Hearings?
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
BTW... I read recently that years back, a wealthy guy who'd had a heart attack, and learned that snacks loaded with tropical fats (coconut & palm oils) were causative factors, took a full page AD in NY Times with headline saying:
THESE PROCESSED FOODS ARE KILLING AMERICANS
Within 2 weeks, hundreds of snacks were reformulated w/o tropical fats.
 

jnordquist

Member
Joined
Sep 10, 2007
Professional Status
Certified Residential Appraiser
State
Pennsylvania
I'm was on the fence about joining as an Associate Member, that swayed me. The AI said what I was feeling and thinking.
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
Well, they have done more than ask. There have been numerous appearances before various Congressional committees.

http://www.appraisalinstitute.org/newsadvocacy/letrs_tstimny.aspx#Testimony
Last Testimony:

Appraisal Institute and partners testify before the Senate Subcommittee on Housing, Transportation, and Community Opportunity, June 26, 2007
Appraisal organizations express support for Congressional action on appraiser coercion, mortgage fraud, and appraisal reform
 

Ken B

Elite Member
Joined
Feb 18, 2004
Professional Status
Certified General Appraiser
State
Florida
So, should I assume you are dues paying member of a professional organization who feels that their organization could be doing more for you?
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
So, should I assume you are dues paying member of a professional organization who feels that their organization could be doing more for you?
(Very) Soon to be ex-SRA.
 

Doug Wegener

Senior Member
Joined
Apr 14, 2005
Professional Status
Certified Residential Appraiser
State
Oregon
Competition

Yet the reality is that the very most they can do is write letters. It is humorous when non-members gripe about the organizations (any and all of them) "not doing anything." What, they should go bust some kneecaps?

Well, maybe busting kneecaps might be a bit too much. Maybe.

What exactly prevents the appraisal orgainzations from establishing a management type company that competes with AMC's without pimping the appraisers?

I would join then.
 
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