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

[J Grant]

Public perception occurs in the eyes of... the public. The perception is literally the thing.

Look at our own PR drama. These allegations of appraiser racism and misconduct are wholly unrelated to the education or the qualifications of any of those individuals. Nobody thinks the solution includes increasing academic or technical training. The allegations are about ethical misconduct; about appraisers allegedly not adhering to the role of D3P and not refraining from violating the existing prohibitions against the use of personal bias in their professional work. It is the allegation of ethical misconduct on the nationwide basis that has resulted in everyone being required to go through the proscribed cultural re-education camps.

I don't think too many among the public are aae or or care about the fake appraisal bias claims - what does this have to do with college recruitment for appraisers?

The support of this fake bias charge could have been nipped in the bud by Fannie and Freddie if they had stood up and told the committees that MV often chooses comps by proximity much of the time and the same thing happens in white and other white nearby homes - one house or one subdivision is worth more than a nearby one -the buyers make that happen with prices, not appraisers. IMo, Fannie and Freddie fed into this claim with their targeted and very limited study, which only came up with a so-called "gap " of a few percent wet purchase appraisals in some census tracts - did they do any control data studies in lower-income vs. higher-income white-majority census tracts and purchase price gaps ( what a stupid metric btw )

 

[djd09]

Actually, you’re not far off. I’m sure pretty soon There will be a new definition of the word public.

what about trust...2009? racists? come on man

 

[J Grant]

I don't know why you're whining about professionalism when your real complaint is about the money. Have you ever considered making an argument in good faith based on some reasoning?

I taught the professional standards and other courses for 16 years, and have done similarly on this forum (for free) for longer than that. That's my agenda. OTOH, you have been complaining about the money so that's obviously your sole agenda because you certainly never add anything of substance to any other discussion.

Yes, well, money drives what decisions and valuation policies that Fannie, Freddie, and the stakeholders make, and yet I never hear you accuse them about it.

Money means a profession either lives or dies, and the strategy of starving appraisers out on the real estate lending end by stakeholders results in them having the control and profit of valuations.

 

[J Grant]

I don't know why you're whining about professionalism when your real complaint is about the money. Have you ever considered making an argument in good faith based on some reasoning?

I taught the professional standards and other courses for 16 years, and have done similarly on this forum (for free) for longer than that. That's my agenda. OTOH, you have been complaining about the money so that's obviously your sole agenda because you certainly never add anything of substance to any other discussion.

How about YOU making an argument in good faith?

The policies and decisions and tweaking of regulations by Fannie, Freddie, and the stakeholders put vast amounts of money into our points or their AMC companies. yet they get a free pass from you on it while you constantly post to accuse the appraiser of hypocrisy for their trying to maintain a meager C and R fee.

IDk if it is deliberate or not, but that continual accusations of hypocrisy discredit appraisers-what effect did you think it would have?

 

[djd09]

im sure DW will post and straighten this all out...he was the chair of AQB, right?

 

[djd09]

george dont care...they won't be his competition

 

[George Hatch]

I don't think too many among the public are aae or or care about the fake appraisal bias claims - what does this have to do with college recruitment for appraisers?

The support of this fake bias charge could have been nipped in the bud by Fannie and Freddie if they had stood up and told the committees that MV often chooses comps by proximity much of the time and the same thing happens in white and other white nearby homes - one house or one subdivision is worth more than a nearby one -the buyers make that happen with prices, not appraisers. IMo, Fannie and Freddie fed into this claim with their targeted and very limited study, which only came up with a so-called "gap " of a few percent wet purchase appraisals in some census tracts - did they do any control data studies in lower-income vs. higher-income white-majority census tracts and purchase price gaps ( what a stupid metric btw )

Last point first. You understand that the GSEs haven't done enough analysis to prove or disprove the outcome that appraisers are asserting. The worst thing they could do for their own credibility is assert a conclusion they cannot prove because so far nobody knows how the more in depth analysis will turn out. We don't know how common/rare any biased outcomes are occurring, we don't know what the geographic distribution is/isn't, we don't know what mechanisms the offenders are using to express their biases, we don't know where in the appraisal process they are doing their misdeeds. Etc., etc. All we have so far are some indications of a gap between contract price/value which without the smoking gun of "this appraiser told that lie" is but an indirect indicator at best.

Problem identification comes first and so far we haven't yet gotten to that point.

As for the first point (nobody cares), if that was the case we wouldn't have politicians up to POTUS talking about us. And I said zero about recruitment for appraisers. What I said is that the public's perception of our professionalism hinges on our perceived performance, particularly WRT our professional ethos. Not on our academic or technical qualifications. If someone is ashamed of being an appraiser it's because of the actions of some of their peers, not their qualifications.

 

[George Hatch]

george dont care...they won't be his competition

I care about your competition and your fees. And yes, I do care even though none of you are in a position to compete with me in my book of work.


With that said and on the purely logical and objective and principled basis it still isn't the role of AQB or the AQB-advised govt to protect you or me from the marketplace. WRT licensing criteria those are intended to establish a minimum qualification for what it takes to competently perform the role. That's it. Apart from that the buyers are going to buy and the sellers are going to sell, subject to their effective legal limitations.

 

[J Grant]

Whether merited or not, professions requiring a college education command a greater degree of respect and tend to weed out some of the complete idiocy that led to a lack of ethics among too many appraisers - they didn't profit by big $ intelligent criminal conduct like Enron or insider trading ( that is terrible of course, but at least took brains and made their crooks millions )

Instead, we had naive appraisers who would not get a professional foothold elsewhere- doing comp checks and meeting value pressure simply to get work or being too intimidated to say no.

Again, to be clear, some individuals who do not go college are smarter than some college grads and more ethical as well in some cases. It is about the net result and impact on the profession .

 

[J Grant]

I care about your competition and your fees. And yes, I do care even though none of you are in a position to compete with me in my book of work.


With that said and on the purely logical and objective and principled basis it still isn't the role of AQB or the AQB-advised govt to protect you or me from the marketplace. WRT licensing criteria those are intended to establish a minimum qualification for what it takes to competently perform the role. That's it. Apart from that the buyers are going to buy and the sellers are going to sell, subject to their effective legal limitations.

The " buyers" on the res mortgage side (lenders and AMC's, FF) ensure they have a set of regulatory policies in place that protect THEM in the marketplace yet you are fine with that.