AQB Update On Proposed Changes To Appraiser Qualifications

[J Grant]

The fee and turn times are what lenders are pushing as a reason to use computer generated values. There is a push to not have an appraisal, on residential property, unless the lender just wants one for their comfort level.

It is not that easy, or possible for lenders to replace all appraisals with computer generated values. They are developing bifurcated appraisals as an alternative. Appraisals will still be needed in some form for res lender work- do you want a flood of trainees competing with you for the work, or not .

 

[The Warrior Monk]

Please report that to Microsoft. Try Microsoft Word spell check and see what happens.

Try telling an English teacher that they should rely on MS for English skills. They ripped into students that did so.

 

[BRCJR]

It is not that easy, or possible for lenders to replace all appraisals with computer generated values. They are developing bifurcated appraisals as an alternative. Appraisals will still be needed in some form for res lender work- do you want a flood of trainees competing with you for the work, or not .

I work for a lender and am very aware of the chatter taking place, currently. It has never been, at least for the past 10 years or so, this talked about.
We have a "new" generation of lenders that embrace the computer generated numbers. It is what they have "grown" up with.
I do not want a "flood" of trainees but, without them the alternate valuations will take hold and it will happen in my career (next 10 years or so) I believe. I do not think the sky is falling, either. Just an opinion based upon my inside knowledge.
FTR, I do not do ANY mortgage related appraisals.

 

[Evincere]

The designated appraisers I saw failing were typically the people that had taken their basic courses a long time before licensing. .

See...This makes no sense. Those SRA (or other designation) courses/requirements (demos) and subsequent years of field experience should have amply prepared them for the certification test.

Did the basic concepts of Appraising change so vastly for the designated vs non designated?

 

[Evincere]

My opinion, from having reviewed hundreds of these appraisals and interaction with appraisers over the years, is that bad appraisal are rarely due to poor writing skills, a segment may be due to poor reasoning skills, and a larger segment due to violations of the ethics rule. Where I depart from you is I believe that lack of a degree /equivalent in SOME cases, but far too many imo, leads to inadvertent violation of ethics because they cant' stand their ground and are easier to manipulate into it. Just as post HVCC the manipulation went to low fees/ knock them out like fast food TT

It is far less frequent that the college grads or equiv cant' tell the difference of an ethical line into a rationale of everybody is doing it or it's just another 10k slippery slope. If a college grad s going to cross the line, it is likely to be deliberate . There are far fewer people with the sociopath tendency to commit ethics violations or inflate value deliberately than there are weak reasoning or ill prepared to deal with pressure people that go in the wrong direction.The fact that professions with a higher level of education barrier see far fewer go in the wrong direction is an indicator.

For years I took live continuing ed USPAP with a great instructor who gave textbook and real world ethics violation examples...the eye rolling, doodling of cartoons and derision under breath elicited from a section of appraisers was telling- I did not ask them did you go to college,but their demeanor, conversation etc indicated they did not. I hate to write it because I don't want to sound like a snob but this is my direct experience.

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Given your vast experience I think its fair to ask - for how many of these hundreds of appraisals you reviewed did you document whether the Appraiser had a college degree, or not.

 

[George Hatch]

Since everyone licensed is grandfathered in, realize this can can impact your income the rest of your working life as an appraiser. if appraisers are divided about this, the AQB will bend to AMC interests and drop the degree requirement,

Why would you assume that? We didn't come from "no college necessary at any license level" to "must have 4yr degree to appraise SFRs" in a single step. There was an interim step that included an alternate pathway to get to both CR and CG. And that interim step was not a going-through-the-motions cheap shot, either. It included writing, math, economics courses that would have directly addressed the "can't analyze" allegation currently being levied.

If this argument was really about results and not about competition control and ego I think a few of you might have taken that set of qualifications criteria more seriously.

 

[J Grant]

Given your vast experience I think its fair to ask - for how many of these hundreds of appraisals you reviewed did you document whether the Appraiser had a college degree, or not.

There was no way for me to tell, most of the times the appraiser's name was blacked out. But given what I read and they way the reports were written, either a good many did not go to college, or if they went, was the world's worst college.

 

[The Warrior Monk]

See...This makes no sense. Those SRA (or other designation) courses/requirements (demos) and subsequent years of field experience should have amply prepared them for the certification test.

Did the basic concepts of Appraising change so vastly for the designated vs non designated?

The concepts didn't change, but it doesn't mean that they can remember everything they learned from, say, 20 years prior. A lot of what one learns is not used on a daily basis at the level of detail that is expected on a test. And in other cases, some people are simply bad at taking a test.

 

[The Warrior Monk]

Given your vast experience I think its fair to ask - for how many of these hundreds of appraisals you reviewed did you document whether the Appraiser had a college degree, or not.

Not everyone puts this type of information in a report. But in some of the reports I reviewed, CVs were included, invoices were included, etc. Plus, CE in person was much more common a dozen years ago, so appraisers had at least some interaction with their peers. Definite patterns started arising.

 

[TRESinc]

While a degree does not make people ethical, lack of a degree does not make people ethical either. .

but you already said that a lack of a degree make people less ethical, which is equivalent to stating that having a degree makes people more ethical...

My opinion, from having reviewed hundreds of these appraisals and interaction with appraisers over the years, is that bad appraisal are rarely due to poor writing skills, a segment may be due to poor reasoning skills, and a larger segment due to violations of the ethics rule. Where I depart from you is I believe that lack of a degree /equivalent in SOME cases, but far too many imo, leads to inadvertent violation of ethics because they cant' stand their ground and are easier to manipulate into it.