Appraisers Petition in the Milwaukee Journal Sentinel

[Don Moore]

http://www.jsonline.com/homes/buy/apr02/34642.asp

http://www.jsonline.com/homes/buy/apr02/34640.asp

Although I only mentioned the Appraisers' Petition to the writer somewhat in passing, she prominently discusses not only the petition but also mentions the AppraisersForum in her article. This is all part of my strategy to bring attention to the corrupt processes FNMA and FHLMC have allowed to develop. Read the article I wrote in the last issue of the Communicator to understand how I believe our industry's problems can be reduced.

http://frea.com/fannie.htm

As Wisconsin Chapter President, I am going to press AI National to agitate to remove federal subsidies for the GSEs. I believe everyone else should do the same. Also as Chapter President I am going ask my Chapter leadership to call for a state-wide boycott of Wisconsin Realtor Association educational offerings for appraisers in response to their recent support of a Wisconsin Senate bill that would have allowed licensed real estate agents to call what they do an "Appraisal." (Fortunately, our Appraisers Board was able to beat back this poorly thought-out piece of public policy.) I feel that if you pay dues to belong to the NAR Appraisal Section you support an organization at cross-purposes with the betterment of our profession.

Basically I'm here to say I'm doing something about getting the word out about the problems we face. The best way to get the word out is to get involved, be creative, be honest.

Donald J. Moore, MAI
President
Houses.com
2002 President of the Wisconsin Chapter of the Appraisal Institute

 

[Anonymous]

Don,
Thanks for your good work. Have you considered joining the Guild? A person with your talent and position could benefit from the support of a strong union.

 

[Blue1]

I would like to know which appraiser organization is doing the most for our cause. Is AI the best one for this? How do I go about finding this out?

 

[Residential Appraisal Ser]

Don: NAR has a pattern of trying to get written into law, in states that have a federal deminimus, that all valuations under the federal deminimus that is not a federal transaction a BPO would be considered an appraisal. This was one of our pet peeves with the ILL law. The appraisal organizations instead of fighting it, signed off on the bill. Everyone knows the trouble that ILL is having now. We were able to beat it back in KS but it was passed in Mich, and Ohio. There are several other states where NAR and the lenders are trying to get the same provision passed.

William Sentner
President
American Guild of Appraisers OPEIU AFL-CIO
RESASINC@aol.com

If we don't hang together we will surly hang apart.

 

[Francois K. Gregoire]

Don: NAR has a pattern of trying to get written into law, in states that have a federal deminimus, that all valuations under the federal deminimus that is not a federal transaction a BPO would be considered an appraisal. This was one of our pet peeves with the ILL law. The appraisal organizations instead of fighting it, signed off on the bill. Everyone knows the trouble that ILL is having now. We were able to beat it back in KS but it was passed in Mich, and Ohio. There are several other states where NAR and the lenders are trying to get the same provision passed.

William Sentner
President
American Guild of Appraisers OPEIU AFL-CIO
RESASINC@aol.com

If we don't hang together we will surly hang apart.

Bill,

First things first - NAR and State Associations of REALTORS are not the same thing. NAR does NOT get involved in state legislation, plain and simple. Your allegations concerning the NAR have no basis and are completely false.

READ THIS!! and click on the LINK for the Full Policy Statement.
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NAR POSITION: NAR supports a licensed or certified appraisal for all federally-related transactions. The Association's policy of supporting a threshold level of $100,000 for residential loans and a $250,000 level for commercial loans has been in place for some time. NAR firmly believes that using appraisals leads to better loan underwriting.
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There it is in Black and White. Show me something in Black and White to refute this.

NAR does not control State Associations. Some state associations may be involved in these actions, but it is not with the blessing or support of the NAR. If you have some proof for your allegations, cough it up.

Baseless allegations concerning other organizations does nothing for the credibility of the author. In case you've missed the news lately, NAR is far from being in bed with the banks.

 

[Francois K. Gregoire]

Basically I'm here to say I'm doing something about getting the word out about the problems we face. The best way to get the word out is to get involved, be creative, be honest.

Donald J. Moore, MAI
President
Houses.com
2002 President of the Wisconsin Chapter of the Appraisal Institute

Don,

Good work! You're not alone in your quest.

REALTOR Mag Article

 

[Les Brant]

An excellent article that would serve us well if published and read nationwide. I did take the time to e-mail a note to the author, thanking her for it. Something we are often remiss in doing (I am guilty of this myself).

Les in Coastal (N)Carolina

 

[Brad Pack]

If we don't hang together we will sure

Bill, I believe you meant:

"We must all hang together, or assuredly we shall hang separately" - Ben Franklin

Ponder this:

"Problems cannot be solved at the same level of awareness that created them". - Albert Einstein

Don, well done!

 

[David C. Johnson]

<span style='color:darkblue'>Thank You, DON.

I though your Communicator article was great.

Since your work has been nationally published, it will be much easier (i.e., much less risky) for the next publication to print on the subject (as well as for other forms of the media).

Journalists, and often even more so, their publishers, are rarely as fearless as they are made out to be.

Dodging bullets in Afghanistan or Somalia is one thing -- potentially taking a direct hit to advertising dollars and/or market share -- is quite another. It could get serious all the sudden.

You and the Communicator have played "point man" by paving the way for others.

Regards,

David C. Johnson, Raleigh, NC</span>

 

[bradellis]

Don,

Great post. YES YES YES- it is high time that Congress stopped providing subsidies to the GSEs. I'd also like to have those $20 Million bonuses repaid.

The simple fact here is that these organizations keep telling us how great they are in underwriting, how much they know about credit risk, etc. They have told us how great their own AVMs are. If that is so, why on earth do we taxpayers have to give them both direct grants and then also subsidize their own borrowing?

Together, Fannie and Freddie represent only about 25% of the secondary market. That means that 75% of the deals bought are done by private investors (even with FHA insuring another 30% or so).

And how much of their profits are now coming from derivative trading?

Time to let them sink or swim on their own. it si simple. Just removfe the federal charters and then we'll see how good they really are.

If you can get the AI to officially back your position- let me know. I'm betting the NAIFA board would join in- if asked.

Brad Ellis, IFA,RAA