More AMC and PDC Bull

[Terrel L. Shields]

AI scans social media and learns from it as well.

AI like in Artificial Intelligence, and not AI such as the Appraisal Institute, who seems immune to anyone's suggestions except those originated in the halls of Chicago.

 

[George Hatch]

They did write rules though

But your friends have nothing to worry about, they won't enforce either.

Even if you want to say the state boards wrote the rules then their inability to bring to bear the rules they "wrote" becomes its own problem. It looks like your state board backed out of a fight they didn't think they could win. Possibly on advice of their own legal counsel.

It would be immoral for govt to regulate individuals or other entities without providing the right to appeal. And that's what you're mad about - that your state's regulations provided for the AMCs legal rights to appeal. As a society we even have a cliche for that kind of thing that goes back 250+ years "no taxation without representation".

This here is still America. That pesky rule of law thing is a real bummer because it places the burden of proof to meet each element of their complaint on the accuser, not the accused.

 

[chad hampton]

You have a warped view of what really matters when it comes to the law. Who do you think sued Louisiana? You really think it was the ftc?

But I do agree with you in one aspect, I’m sure the board’s attorney did recommend that the board ignore state laws and rules. They had been threatened very clearly in the past, and appraisers as a group are too disorganized to threaten lawsuits the way revaa does.

But you go on thinking the law works great as it was intended to do.

 

[chad hampton]

The only thing appraisers have working for them is that they are at least voters in this state. Some state politicians still care about that.

There was a lot of legislation that we saw come across North Carolina that would’ve benefited appraisers. We always had the votes until the last minute when out of state lobbying groups would get a hold of things and then start cutting their checks.

It’s just politics I suppose. It’s dirty and disgusting, that’s why all the sewage finds its way to DC eventually. I don’t participate anymore.

Most people don’t realize how bad it is until they actually see it up close.

 

[George Hatch]

You have a warped view of what really matters when it comes to the law. Who do you think sued Louisiana? You really think it was the ftc?

But I do agree with you in one aspect, I’m sure the board’s attorney did recommend that the board ignore state laws and rules. They had been threatened very clearly in the past, and appraisers as a group are too disorganized to threaten lawsuits the way revaa does.

But you go on thinking the law works great as it was intended to do.

If you're saying the FTC itself is corrupt and working for the AMCs that's quite the allegation. But even if it could be explained that way all that means is that the FTC doesn't ignore input just because its source is the AMC trade. Deplatforming might work in GrrlWorld but it doesn't work in governance. The govt is required to hear everyone out, not pick-n-choose who they will allow to provide input to them.

As for how the legal system works, I have personal exposure to that in my previous occupation. I am quite familiar with the distinction between the allegations I wanted to make vs the allegations I could prove to the extent that the DA would prosecute and the courts would rule. The DA only prosecutes the cases they think they can win. Prosecuting the cases where they suspect they will lose is financially irresponsible.

 

[Zoe]

If that lawsuit in California coming from a borrower gains ground, FTC might not be the only Federal regulator or State of CA regulator that gets involved.

Where they would focus is like Appraisal fee to borrower $1,000. Appraiser paid $200.

AMC and bank indirectly kept the rest.

 

[George Hatch]

The state still can't prosecute or administrate for acts which are not prohibited under their law.

You guys know that govt can't operate off of subjectivity, right? Judges don't have the discretion to legislate from the bench. Govt can't enforce a law or rule that doesn't exist or is otherwise unconstitutional.

If you actually thought your way through it, you probably wouldn't even WANT the state boards to have enough authority to operate off their personal discretion and subjective judgement. You certainly wouldn't want to find yourself in front of an activist board that operates with the mentality of "I don't care what the law says, I know misconduct when I see it". If anything you should respect the idea of govt regulators moving with restraint and circumspection rather than militancy and confrontation. In our legal and regulatory systems a tie is supposed to go to the runner rather than to the plate. That's a feature, not a bug.

 

[Zoe]

The state still can't prosecute or administrate for acts which are not prohibited under their law.

You guys know that govt can't operate off of subjectivity, right? Judges don't have the discretion to legislate from the bench. Govt can't enforce a law or rule that doesn't exist or is otherwise unconstitutional.

Govt is not bringing the lawsuit in California. A borrower is. I don't think he is suing California, but he may be. They may be in the mix. He may be suing the bank, AMC and California. I don't know.

If somebody like Morgan and Morgan are involved, they are probably looking class action lawsuit.

 

[George Hatch]

Maybe. But IMO nothing that happens in the consumer lawsuits is going to stop the lenders and their pet AMCs from shopping by fee.

 

[Zoe]

Number 1,it is going to take a long time to subpoena truth in lending disclosures from Bank and AMC records and feed them into Artificial Intelligence. They will need what appraiser was paid vs AMC also.

It will take a little bit.