Appraisers Don't Understand

[George Hatch]

More like 24 hours. Where do the GSEs fit into all of this? They know of the situation but are allowing it to proceed. And what about TAF and the ASC? Oh, that's right—they're collaborating with the same groups pushing these directives.

Agree. The GSEs decide what they will and won't actually accept by what they do, every day. And they are responsible for that decision. It is apparent that the GSEs have struck a compromise between purity and expediency. Same as have all the other players, including the appraisers.

Fannie/Freddie COULD go full purity spiral on the appraisers by rejecting every substandard appraisal and by cutting every one of those appraisers off until they clean up their act. That would probably bring most of these lending pipelines to a screeching halt. As a practical matter there probably aren't very many appraisers who would want that.

Present company excluded, of course.

 

[Mejappz]

It's interesting that most of the top German generals at the end of World War II, knew they were going to lose the war, but at the same time, Heinrich Himmler and other top generals insisted that Hitler's order be followed to take offensive action along all fronts, rather than pull back and build up their defensive lines. - At least up to near the very end. The generals followed orders, even though they were highly unwise.

So, Himmler tried to cut a deal with the Allies when he realized the war was lost. The Fuhrer found out and was furious, so he had Hermann Fegelein—who knew about Himmler’s attempts—arrested and executed by firing squad. Downfall is a great movie if you haven't watched it.

 

[Mejappz]

He did, and credit for not removing the post and taking the heat. Another thing I noticed, the few hear-hear posts are from other supposed innovators just looking to brown nose. What a mess this industry is in. If there wasn't a crap ton of stupid VC and hedge fund money flowing into our industry most of those innovators would be selling ShamWows at home shows.

Who is Brian?

 

[Non Sequitur]

Who is Brian?

CEO of Reggora.

 

[Mejappz]

Of course, that explains it all.

 

[djd09]

By doing so, we can level the playing field for everyone.

level playing field...that is the last thing they want...socialism requires misery...without it the sheep may start thinking for themselves

 

[Terrel L. Shields]

What they are concerned with is the appearance of quality.

the regulatory system was designed to create the 'appearance' of safety.

Double Bingo

Build a better mousetrap, and the world will beat a path to your door​

The caveat for that being that it is usually the consumers who decide what they want to buy.

Or the seller is able to convince the consumer that's what they need...It's the advertising that counts. Do you really think Air Jordans are better? I have a relative who won't wear anything but a Nike shoe...or the cowboy that will only wear a Stetson, although a Bailey hat might be better quality and cheaper. Why do some folks drive Chevys? Fords? BMWs? Buying into the dream that they are better value.

 

[Non Sequitur]

Another person speaking the truth and he details the consequences he’s suffered:

 

[alebrewer]

Remember, the regulatory system was designed to create the 'appearance' of safety.

Not only the regulatory system, but the FAA, the ATF, the TSA, OSHA - you name it. As if walking through a body scanner is going to stop someone who really wants to blow up a plane.

 

[Zoe]

I agree 100%. The GSEs/FHA/USDA should copy the VA appraisal system.

I agree whole heartedly. I think you are a veteran.

The pressure is not there. The market structure is different.

Plus VA don't take crap off lenders or appraisers or veterans.

It hurts sometimes because you have to take the good with the bad.

They needed no bailout.

FHA operated like VA when I first entered the business.

I want to say FHA fee was like $350 minimum like 40 years ago.