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Investing in the Future of Appraising

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
I have my doubts about that situation. But yeah, you're basically right about it being the market for appraisal services which effectively determines how much or how little development and reporting is sufficient for their usage. (aka "meaningful" to their intended use) Not the appraisers.
 

djd09

Elite Member
Joined
May 20, 2009
Professional Status
Licensed Appraiser
State
Ohio
did someone try to correlate morals and the IAC? :rof: :rof: :rof:
 

Mejappz

Thread Starter
Senior Member
Joined
Dec 16, 2005
Professional Status
Certified Residential Appraiser
State
Florida
One thing that hasn’t been mentioned about the PAREA sham is this: Most Lender’s don’t allow trainee’s to inspect by themselves even if the State and GSEs do.

So the PAREA form-fillers(and there soon to be employers (CoreLogic and Clear Capital) will have a competitive advantage over the small mom and pop appraisal shop.
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
so what is meaning full. such they cut every corner knowing that the taxpayers pick up the tab. smh
That problem is occurring far beyond any decision making TAF can make.

Appraisers cannot make users value the elements that those users consider to be extras. It will take the power of govt to impose those additional requirements on these users, which makes this a political problem, not an appraisal standards problem.

BTW, USPAP isn't just used for mortgage appraising, and many of those other users have very different needs than the lenders have.
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
One thing that hasn’t been mentioned about the PAREA sham is this: Most Lender’s don’t allow trainee’s to inspect by themselves even if the State and GSEs do.

So the PAREA form-fillers(and there soon to be employers (CoreLogic and Clear Capital) will have a competitive advantage over the small mom and pop appraisal shop.

It is not the role of TAF to protect the business interests of some appraisers. The small mom and pops (of which I am one) are not entitled to any protections from the vagaries of commerce. Least of all from TAF.

If it comes to pass that the self-employed appraiser becomes an obsolete business model the appraisal profession and some form of appraisal standards will surely continue on just fine without us.
 

djd09

Elite Member
Joined
May 20, 2009
Professional Status
Licensed Appraiser
State
Ohio
That problem is occurring far beyond any decision making TAF can make.

Appraisers cannot make users value the elements that those users consider to be extras. It will take the power of govt to impose those additional requirements on these users, which makes this a political problem, not an appraisal standards problem.

BTW, USPAP isn't just used for mortgage appraising, and many of those other users have very different needs than the lenders have.

sure they can. if they are just roll overs then they are as useless as my. oh never mind.
 

djd09

Elite Member
Joined
May 20, 2009
Professional Status
Licensed Appraiser
State
Ohio
It is not the role of TAF to protect the business interests of some appraisers

yes i agree because obviously they are not here to protect the public. see financial crisis. also note that no changes were made to them. carry on
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
sure they can. if they are just roll overs then they are as useless as my. oh never mind.
How? What could TAF do to compel lenders to refrain from using the appraisals they're choosing to buy?

yes i agree because obviously they are not here to protect the public. see financial crisis. also note that no changes were made to them. carry on

What changes could be made to anything TAF has done over the last 15 years that would have further protected the public from the decisions the lenders were making? Not approve PAREA? The argument can be made that all that would have resulted in would be lenders continuing to move to competing alternatives for their valuation work, thereby hastening the decline of our market share.

You need to come to terms with the fact that the appraisal profession itself is at least as much a special interest group as are the lenders. We wouldn't even be here if not for the heavy hand of the govt imposing us on the lenders against their will. We should be happy enough that the govt hasn't yet retired our entitlement.

You're barking up the wrong tree here. What you need is for the govt to impose more limitations on these lenders and prohibit them from acting through the AMCs, and prohibit and effectively prevent them from paying less than the C&R fee or using any appraisal product other than the 1004 appraisal product which you prefer to sell. You need the crutch because without it your interests are suffering.
 

Mejappz

Thread Starter
Senior Member
Joined
Dec 16, 2005
Professional Status
Certified Residential Appraiser
State
Florida
I have my doubts about that situation. But yeah, you're basically right about it being the market for appraisal services which effectively determines how much or how little development and reporting is sufficient for their usage. (aka "meaningful" to their intended use) Not the appraisers.

According to the GSEs and almost all Lenders, this is "meaningful" to their intended use.

From Fannie Mae:

Fannie Mae Guidelines require Sales Comparison adjustments to be "Market Derived," including the Sales and Financing Concessions adjustments.



From a Big Box Lenders 21 page engagement letter:

1606848369297.png


Not to mention USPAP requires "evidence and logic."

If you think the majority of secondary market appraisal adjustments are market-derived well, you live in a dream world.

What happens is the appraiser who goes through the process to comply with these guidelines, i.e., mandates, are punished, and the ones who flaunt them get rewarded.
 
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