- Joined
- Feb 14, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Louisiana
Another spot-on analysis by Dr. Cindy Chance.
"I spent one painful year as CEO of the Appraisal Institute calling out this bizarre spectacle from the inside. What I saw was a profession that was not just stagnant, but actively harming professionals as it defended against change, led by insiders who benefited from the status quo."
"TAF’s own description of its mission: “advancing the valuation profession by setting standards of excellence, promoting education, and upholding the public trust” is totally at odds with its conduct.
What TAF actually did: ensure that professional education did not evolve in any meaningful way as our tools, knowledge, and capabilities exploded. As theoretical opportunities to advance professional practice grew, professional practice did not."
"As the CFPB noted in a formal comment letter to the Appraisal Subcommittee: TAF’s governance structure “featured a pay-to-play mechanism whereby paying ‘Sponsors’ selected around half the members of the Board of Trustees” — meaning industry players paid for the right to write the standards that governed them. The CFPB further identified “severe deficiencies in The Appraisal Foundation’s conflict of interest policies,” noting that board members worked for vendors regulated by the very body on which they sat. This is the architecture of a closed system, not a professional regulator serving the public."
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How Regulation and Calcified Appraisal Education Failed Banks, Consumers, and Real Property Valuation
"I spent one painful year as CEO of the Appraisal Institute calling out this bizarre spectacle from the inside. What I saw was a profession that was not just stagnant, but actively harming professionals as it defended against change, led by insiders who benefited from the status quo."
"TAF’s own description of its mission: “advancing the valuation profession by setting standards of excellence, promoting education, and upholding the public trust” is totally at odds with its conduct.
What TAF actually did: ensure that professional education did not evolve in any meaningful way as our tools, knowledge, and capabilities exploded. As theoretical opportunities to advance professional practice grew, professional practice did not."
"As the CFPB noted in a formal comment letter to the Appraisal Subcommittee: TAF’s governance structure “featured a pay-to-play mechanism whereby paying ‘Sponsors’ selected around half the members of the Board of Trustees” — meaning industry players paid for the right to write the standards that governed them. The CFPB further identified “severe deficiencies in The Appraisal Foundation’s conflict of interest policies,” noting that board members worked for vendors regulated by the very body on which they sat. This is the architecture of a closed system, not a professional regulator serving the public."
How Regulation and Calcified Appraisal Education Failed Banks, Consumers, and Real Property Valuation
The Epstein files currently dominating headlines offer a lens that applies far beyond their immediate subject: what happens when elite insiders capture a system, shield it from scrutiny, and pay no price when it fails. What happens when they conspire constantly — not with shared intention, but throu
