Maryland Commission versus Appraiser Bias

[residentialguy]

AK said: "They are going to hire family first, then friends, then maybe friends of friends, then it is most likely someone from their community. It's a major hurdle."


And that is different from every small business in the world, how?
That's not a color issue. Everybody has friends and relatives, regardless of color. And they could go to those friends or relatives and probably get a job.

 

[residentialguy]

If a person is sharp they will get hired.. If they're not very sharp then they won't get hired because they're not very sharp.

 

[shrubberyvaluation]

Supervised experience requirement is a major hurdle for minorities. It is not equally open.

I saw minority and women trainees quit for government jobs. White males have a harder time getting these jobs. Can this create a bias for when a mentor takes on a trainee?

 

[Zoe]

This will blow to NAR and lenders. It will expand to interest rates, closing costs, sales commissions, etc. Composition of work force. The list goes on.

 

[Carnivore]

It's not they are not going to hire someone because they are black. It is not about racism.

They are going to hire family first, then friends, then maybe friends of friends, then it is most likely someone from their community.

It's a major hurdle.

Yes, I see your point. I have s solution and it will have stiff resistance by certain groups and entities. In the beginning, my solution requires initially doing an end-run around those groups and entities. If I am successful these same groups and entities will have a subservient important role. They will not be happy because of the loss of control and money.

 

[Zoe]

It will blow to NAR and lenders and AMC's.. The main reason for my conclusion is because HUD has data in HMDA. It will blow.

 

[Zoe]

Just read this if you don't believe me:

The History of Lending Discrimination

Laws have made lending more equitable, but the effects of ongoing discrimination against people of color continues to bolster the racial wealth gap.

www.investopedia.com

 

[Zoe]

Would I rather be an appraiser or a real estate agent, lender, or AMC? I guarantee you I would rather be appraiser. I know where the big liability will fall.

 

[Zoe]

If I am employee and don't have to worry about it because my employer will handle my liability?

They may handle your liability, but they may get throwed under bus as employer. I won't swear they can handle your liability personally as employee.

If your agent of any kind, I won't swear the company you work for can handle your liability personally.

That may not happen.

See the risk level if you are professional appraiser?

Weigh them against the other people (entities).

The risk level is way higher against lenders, NAR, AMC. Way higher level risk.

We can throw Zillow or whoever in there. Way higher risk level on them than licensed appraisers.

 

[Zoe]

Here is reason. MV definition is the total clue as defined in a 1004.

Why do you think VA has lowest loss ratio of any loan program? You can answer the 5th amendment. They don't play. That's why.