Allegations of Appraiser racism

[Meandering]

Our business has had an oversupply problem for the last 15 years, with only 2 brief "shortage spikes" occurring during that entire time frame. 35+% of our licensees literally got starved out for lack of demand. In addition to that the trainee-driven sweatshop model has effectively been gutted so that's why they had to approve PAREA in order to create opportunity despite the (long term) lack of demand in the market for additional appraisers.

Even if there is a flood of PAREA-qualified licensees coming in over the next 5 years, most of those will get starved out during a bust due to not having a network of people they have previously worked with or having an extensive client list. It's just too common for a junior appraiser to be primarily reliant on a couple of accounts and then be vulnerable to cash flow setbacks when one of those accounts goes down.

If it is good enough for white people....................................................

 

[George Hatch]

"but they are the great defenders of public trust. ask their neighbors

"​

They don't control what the lenders or the GSEs do with their disclosures.

 

[Carnivore]

I don't have all the answers ....

I get the thing about judging people by who they are as opposed to what they are..

We appraisers did not create this problem, nor will we be able to solve it.

Most Appraisers are White Thus Most Appraisers are racist - that is just a canard

 

[George Hatch]

If it is good enough for white people....................................................

I would say that when the public's perception of appraisers declines for whatever reason those effects are not just limited to any one group of people. And the longer these allegations continue to accrue without a meaningful response the more damage it's doing to our remaining economic life.

This is basically what we are attempting to react to:

"an unknown number of appraisers are performing an unknown number of appraisals with racial bias to an adverse effect, the locations and extent of the effect per appraisal are also unknown. All we do know is that some neighborhoods have lower prices than others"​

 

[Carnivore]

What makes you think there is a problem, to begin with? In the County, I work in(which is quite diverse), I would say that at least half of the appraisal population are minorities. Most are Hispanic. Guess what they went through the process like everyone else. So, in my County, there is quite a bit of diversity in the appraisal industry.

What evidence is there that African Americans are banging at the door of TAF, Congress, the state boards, etc., demanding entry into the Appraisal Profession?

Like I’ve said since the beginning, this is all a political Chimera designed by those wishing to push a particular narrative.

• Appraisers are racist and are undervaluing minority neighborhoods even though we have no evidence. To support this accusation. The goal is to artificially juice up values in these neighborhoods to create phony wealth that will come crashing down once the housing market collapses. Keep in mind these are the same people who, in the early 2000s, were pushing for minority homeownership. And later recklessly foreclosed on the very same people they were trying to “help.”
• The white man is placing barriers in front of minorities(especially African Americans) and not allowing them entry into the appraisal profession. Where is the evidence to support that claim?

As far as TAF and the AI. Both love to throw boots on the ground appraisers under the bus any chance they get, in order to save there on the skin, so it is only fair to call them out on their BS and hypocrisy whenever possible. But, unfortunately, both organizations have been ignoring the real problems facing the industry for years.

Did you see the Results of the TAF Survey? Your county must be one of the few Exceptions

Most of what you said after that I can agree with.

 

[Carnivore]

I would say that when the public's perception of appraisers declines for whatever reason those effects are not just limited to any one group of people. And the longer these allegations continue to accrue without a meaningful response the more damage it's doing to our remaining economic life.

This is basically what we are attempting to react to:

"an unknown number of appraisers are performing an unknown number of appraisals with racial bias to an adverse effect, the locations and extent of the effect per appraisal are also unknown. All we do know is that some neighborhoods have lower prices than others"​

Well I am not sure that will make a difference because of the Current Agenda and Ultimate goal. They're just collecting evidence across a wide range of our Society. What I am saying it's not just about us appraisers specifically, they have a goal and it's all about Equity.

 

[Meandering]

Seeing that, by federal law, rules and regulations

it is the banks that are responsible for the diversity of their subcontractors,

perhaps the new trainees should investigate banks that will take upholding the diversity issue, more seriously.

32 Black-Owned Banks and Credit Unions, Sorted by State​

https://www.businessinsider.com/personal-finance/black-owned-banks-credit-unions?op=1
In 1888, Capital Savings Bank in Washington, DC, became the first Black bank to open, and the Savings Bank of the Grand Fountain United Order of True Reformers in Richmond, Virginia, became the...

 

[djd09]

real slow taf is a private organization created by congress to set standards for appraisals. if their standards require the appraiser to be the bankers toy, then they are at fault.

have these appraiser given what the client wants or not. hee haw

 

[George Hatch]

TAF was not created by Congress, so you're wrong there.

And "banker's toy" is not what "meaningful to intended users" means, so you're wrong there, too.

But, you might be right about what a lot of appraisers are doing WRT what the lenders want. Especially when at least most, if not all, of those "what lenders want" expectations are entirely reasonable and wholly unrelated to the allegations of the day.

 

[djd09]

yawn yawn yawn bank of america chief appraiser still there. and how many diversified chief appraisers are there?