ASC In Chaos?

[Non Sequitur]

I could rebuild the appraiser license lookup portion of their site in maybe a month. I also offered to fix the find an appraiser portion of the Appraisal Institute site, which is hot garbage but was rebuffed. In fact, I kind of did: https://www.findanappraiser.com/usa (still WIP, I have too many other projects going on).

Team up with a few connected individuals and charge millions. You’ll still do all of the work and get paid a fraction (like AMC work) but the websites will get fixed.

 

[glenn walker]

There really to small to even exist. You could fit the 10 into cubicles inside HUD office and be done. Most of their bull**** can be done virtually on line

 

[Tom D]

Operating one of those is a privilege, not a right.

My dem city just loves to tax you. We have 2 buisness taxes to pay. The city has it figured out to not call it stealing. It's actually called a business privilege tax. I'm sooo lucky to have the city appreciating my privilege, at my expense.

 

[djd09]

Jim Park - Collateral Risk Network

Appraisal Subcommittee Since 2009, Jim has served as Executive Director of the Appraisal Subcommittee. He is the senior staff person responsible for the day-to-day ASC operations and staff. Under direction of the ASC, the executive director is responsible for implementing ASC policies...

collateralrisk.org

...

 

[cpursley]

“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”​

― Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations

 

[jay trotta]

Senators Say Appraisal Regulator 'Chaos' Risks Undermining Real Estate Markets

The ASC has been without a permanent director for more than six months, has seen its staff dwindle by 30% and has clawed back grant funding from states.

www.bisnow.com

You can sign up with your email to read the while article.


"The Appraisal Subcommittee has been without a permanent director for more than six months, has seen its staff dwindle by 30% and has clawed back grant funding meant to grow a profession undergoing a demographic crisis.

Those issues have caught the attention of two senators, who sent a letter on Wednesday to the chair of the Federal Financial Institutions Examination Council — which oversees the ASC — on Wednesday, expressing concerns about the appraisal industry’s top monitor."

"They cited previous reporting by Bisnow on the ASC's staffing cuts and failure to hold required public meetings and litigation alleging fraud in the state appraisal certification process."

"Appraisal Subcommittee acting Chair Luke Brown and acting Executive Director Matt Ponzar declined to comment for this story or answer a list of written questions."

"Since its founding, the ASC has been given additional authority over appraisers through the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, amendments to Title XI, and special projects, such as the recently disbanded Property Appraisal and Valuation Equity Task Force, a Biden-era initiative aimed at eliminating racial bias in appraisals.

In 2017, the subcommittee also began overseeing appraisal management companies, which have arisen as middlemen between lenders and appraisers. The creation of the AMC registry boosted the ASC's gross revenue by more than 200%, according to a February 2023 staffing and reorganization proposal created by consulting firm KL Scott & Associates."

Yeah, licensing AMCs was such a great idea. No wonder they have so much influence in DC.

"The ASC's reserve fund grew faster than projected, ballooning to $29M last year.........."

"Appraisers have for years raised concerns about the financial motivations of The Appraisal Foundation, the quasi-governmental entity that creates guidelines and standards for the industry. TAF has been distancing itself from the ASC, its federal monitor, Bisnow previously reported.

The senators gave the ASC board until Aug. 29 to respond to their questions. In the meantime, ASC insiders have continued to worry over how the hiring freeze could impact the subcommittee’s ability to execute its duties — more of its employees are expected to retire in the coming months.

“The Appraisal Subcommittee never had much fat to cut in the first place,” one former employee told Bisnow. “It does not serve the appraisers or the appraisal community at all.”

The problem-IMO is a President who had No idea about the appraisal process yet initiated "racial bias" where limited if any existed. Yet everyone jumped on the bandwagon and insisted it did exist (sound familiar?). Which lead to the actions, via court, that appears to have supported that Bias if any, does not exist (perhaps limited if any). After all we did/do the Sticks & Bricks and land to provide an opinion of value within the neighborhood as defined.
Just a thought

 

[Non Sequitur]

Appraisal Subcommittee Head Departs Amid Trouble At The Agency

Matt Ponzar took over as ASC acting executive director after James Park retired from the agency this year.

www.bisnow.com

Ruh roh:

"Matt Ponzar is out as the head of the Appraisal Subcommittee, capping off a week of tumult at the chief regulator of the U.S. appraisal industry.

Ponzar had been acting director at the ASC since January, but he exited his role on Friday as a Bisnow investigation into the agency was set to publish.

Two days earlier, a bipartisan pair of U.S. senators sent a letter to the chair of the Federal Financial Institutions Examination Council — which oversees the ASC — expressing concerns about the government agency. The ASC's board was cc'ed on the letter, which Bisnow obtained. Ponzar was not.

He has been removed from the subcommittee's website, and emails sent Friday afternoon and Monday morning received automatic replies stating that he was “unavailable” and directing senders to Luke Brown, the ASC's acting chair.

Ponzar was in his role and responding to emails on Friday morning.

Brown now holds the titles of vice chair, acting chair and acting executive director, according to the automatic reply message and the ASC's website. He is also an associate director at the Federal Deposit Insurance Corp.

Ponzar didn't respond to a request for comment via LinkedIn. Bisnow was unable to reach him otherwise. Brown didn't respond to multiple requests for comment."

"A current employee, speaking to Bisnow on the condition of anonymity, said that as of Monday morning, the ASC's remaining staff have received no official communication about leadership changes."