AQB's latest dumbing down by 'Stakeholders' Dropping the College Degree Requirement

[J Grant]

Everyone wants supply and demand free market capitalism....
Best system in the world....
Until they're no longer in demand....

The AMC system is not free market capitalism.

 

[Dublin ohio]

The AMC system is not free market capitalism.

What part of the AMC system prevents a lender or appraiser from making their own decision.

 

[George Hatch]

The AMC system is not free market capitalism.

Perhaps not, but it's also not govt controlled. Or govt mandated.

 

[Dublin ohio]

With the dumbing down of education across the board. What does a college degree really mean today. Entrance standards have been lowered to where you can get into college as long as you are breathing. No need for the ACT or SAT. It used to be that getting accepted to what was considered a "prestigious" university took something and that in itself could open doors. Even without a degree. I remember having to take an entrance exam as part of my application. Scheduled for 6 hours 100 miles from home. I didn't graduate from college. I was just plain burnt out after an intense high school program (my choice). But where I went opened more doors than I could have imagined. Got me jobs that would normally require a degree. That wouldn't happen today. Degrees have become a dime a dozen

 

[J Grant]

Perhaps not, but it's also not govt controlled.

It is government enabled, and a large market share enabled, by the fee split on the HUD compensating the AMC from a portion of the borrower-paid appraisal fee, resulting in no hard cost to the lender in most cases.

Do you think lenders would use AMC's in the same volume if appraisals were excluded from the HUD bunded fee, and lenders had to pay a hard cost for AMC service, the way the lenders pay a hard cost for other professional services, such as Tech support or accounting?

f

 

[chad hampton]

Why did AMC market share go from less than 20% in 2007 to 80%+ in 2010? You sure that had nothing to do with gov't?

And almost nothing I would do is currently put in place in this profession. If anyone has a problem with the system or likes to talk about how ****ty appraisers and appraisals are, they should be blaming those at the top, who have been in random positions of power for the last 30 years. You don't get to have a front row seat at the policy tables for 30 years and still ***** about how bad things are.

Maybe they should do what George Costanza did - whatever he thinks is the right thing to do - do the exact opposite and he will be right more often than not

 

[J Grant]

With the dumbing down of education across the board. What does a college degree really mean today. Entrance standards have been lowered to where you can get into college as long as you are breathing. No need for the ACT or SAT. It used to be that getting accepted to what was considered a "prestigious" university took something and that in itself could open doors. Even without a degree. I remember having to take an entrance exam as part of my application. Scheduled for 6 hours 100 miles from home. I didn't graduate from college. I was just plain burnt out after an intense high school program (my choice). But where I went opened more doors than I could have imagined. Got me jobs that would normally require a degree. That wouldn't happen today. Degrees have become a dime a dozen

So you say,-

Colleges still require grade point averages, and the better colleges have a competition to get accepted. The students still have to put in the hard work over 4 years to pass the courses and graduate. Some can't finish it and drop out. If a degree is a dime a dozen and it so easy to get, then pay your 10 cents and get one-

 

[DWiley]

If the education initially conveyed it to the student but the supervisor told them to forget everything they've seen because the supervisor will show them how it's really done then that's on the supervisor.

I had to fight that in my own training (which occurred before the existence of the term Supervisory Appraiser). After taking classes and learning how to extract things from market data, I had to push back on adjustment rates, total economic life, etc. It is very easy "in the heat of the daily battle" to rely on past analysis for too long.

 

[George Hatch]

Why did AMC market share go from less than 20% in 2007 to 80%+ in 2010? You sure that had nothing to do with gov't?

And almost nothing I would do is currently put in place in this profession. If anyone has a problem with the system or likes to talk about how ****ty appraisers and appraisals are, they should be blaming those at the top, who have been in random positions of power for the last 30 years. You don't get to have a front row seat at the policy tables for 30 years and still ***** about how bad things are.

Maybe they should do what George Costanza did - whatever he thinks is the right thing to do - do the exact opposite and he will be right more often than not

WRT the first question, it happened because govt didn't prohibit it from happening. Obviously

Govt DID prohibit the lenders and GSEs from accepting outside appraisals but govt didn't prohibit the lenders from engaging via AMC. The lenders ended up with fewer alternatives and proceeded to act in what they considered to be their own best interests.

 

[ucbruin]

With the dumbing down of education across the board. What does a college degree really mean today. Entrance standards have been lowered to where you can get into college as long as you are breathing. No need for the ACT or SAT. It used to be that getting accepted to what was considered a "prestigious" university took something and that in itself could open doors. Even without a degree. I remember having to take an entrance exam as part of my application. Scheduled for 6 hours 100 miles from home. I didn't graduate from college. I was just plain burnt out after an intense high school program (my choice). But where I went opened more doors than I could have imagined. Got me jobs that would normally require a degree. That wouldn't happen today. Degrees have become a dime a dozen

I used to say something similar to my SPNB co-worker....
He would brag that he was a USC grad and put down that I was a UCLA grad....
Yet, our cubicles were right next to one another....

To be honest....
Whether a college degree means anything then or now....
I'm glad I graduated college....