No College Degree for Cert Generals or Residential Appraisers

[Surf Cat]

There is no defined definition of what a quality appraisal is and therefore it's a broken system until someone lays it out and the truth is your doing reviews only because the lenders have to show the regulators X Percentage of reports are reviewed.

That's not true in regards to a quality definition for appraisals.

Fannie Mae emphasizes that the quality of an appraisal is critical to ensuring the reliability of the opinion of market value, which must reflect the property's market value, condition, and marketability in compliance with its Selling Guide requirements.

Lenders are responsible for confirming that appraisal reports are complete and that any changes are made by the original appraiser, and they must resolve concerns about the appraisal's reliability before making a final underwriting decision. If concerns cannot be resolved with the original appraiser, a replacement report is required.

And therein lies the rub.....lenders relying on AMCs to manage the appraisal process, including the review and quality control of reports, washing their hands of the whole ordeal which creates a disconnect between responsibility and execution. As we all know, lenders have moved on to waivers and other methodologies for their valuation needs.

Low fee, barely readable, High School dropout appraisals win the day.

 

[Non Sequitur]

Oh joy. The AQB released a "Super Exam" concept paper today. The exam would create an examination only pathway for experience requirements. In all honesty, if it screws over PAREA and practicum providers I'm all for it. Let them eat cake too.

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[glenn walker]

That's not true in regards to a quality definition for appraisals.

Fannie Mae emphasizes that the quality of an appraisal is critical to ensuring the reliability of the opinion of market value, which must reflect the property's market value, condition, and marketability in compliance with its Selling Guide requirements.

Lenders are responsible for confirming that appraisal reports are complete and that any changes are made by the original appraiser, and they must resolve concerns about the appraisal's reliability before making a final underwriting decision. If concerns cannot be resolved with the original appraiser, a replacement report is required.

And therein lies the rub.....lenders relying on AMCs to manage the appraisal process, including the review and quality control of reports, washing their hands of the whole ordeal which creates a disconnect between responsibility and execution. As we all know, lenders have moved on to waivers and other methodologies for their valuation needs.

Low fee, barely readable, High School dropout appraisals win the day.

How can Pre Printed Forms not be readable it's 90% grids and check boxes and go back to 1985 and it was almost all grids and boxes. There's nothing to read and what is attached by most is junk disclaimers. The issue is the low fees and scope creep not whose qualified. It's always about the fees just be honest.

 

[Surf Cat]

How can Pre Printed Forms not be readable

Boilerplate, sales that are not comparable, pull from behind adjustments, no explanation when explanation is needed for comparables in alternative competitive neighborhoods, widespread gross sales prices, widespread adjusted range leading to no indication of value, the appraised value that looks like it was chosen from a dart board, reconciliation (most weight given to the sales comparison approach). On and on... I know you've seen these reports.

There's nothing to read and what is attached by most is junk disclaimers.

Exactly.

The issue is the low fees and scope creep not whose qualified. It's always about the fees just be honest.

I was being honest. Yes, it is about the fee...for the AMC's.... why do you think appraisers are driving 50 miles to the subject location? There's plenty of geographically competent appraisers where the subject is.... they just won't work for di*k in the dirt fees.

 

[cdanj]

So wait... I just read its only for Residential Appraiser, but still bachelors for Cert and General. Yet some states may choose tp allow people with certain associates degrees to become certified.
Does this sum it up?

 

[Non Sequitur]

So wait... I just read its only for Residential Appraiser, but still bachelors for Cert and General. Yet some states may choose tp allow people with certain associates degrees to become certified.
Does this sum it up?

No.

Eliminate all college-course and college-degree requirements for the Certified Residential and Certified General classifications, replacing them with enhanced qualifying-education expectations and a more detailed Examination Content Outline
See page 5 of the Exposure Draft

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[Non Sequitur]

Appraisers Would No Longer Need A College Degree Under Proposed Change To Certification Criteria

The Appraisal Foundation called its exposure draft the “most extensive reconsideration” of appraiser qualification criteria since 1989.

www.bisnow.com

In the draft, TAF said it was guided by an analysis conducted by a consulting firm, which “confirmed that degree attainment did not correlate with better performance in appraisal practice.”

 

[djd09]

No.

Eliminate all college-course and college-degree requirements for the Certified Residential and Certified General classifications, replacing them with enhanced qualifying-education expectations and a more detailed Examination Content Outline
See page 5 of the Exposure Draft

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appraisalfoundation.sharefile.com

i cannot chase them forever...but here look

Rationale for Proposed Revisions
1. Executive Overview
The Appraiser Qualifications Board (AQB) is issuing this Exposure Draft to invite public
comment on a comprehensive revision of the Real Property Appraiser Qualification Criteria. This
effort stems from a multi-year reassessment of the Criteria and is informed by the 2025 National
Job Analysis, structured decision-making support from The Decision Lab, extensive input from
state and federal regulators, educators, professional organizations, and individual appraisers,
and the AQB’s detailed internal review of current pathways into the profession.

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[Fernando]

Appraisers Would No Longer Need A College Degree Under Proposed Change To Certification Criteria

The Appraisal Foundation called its exposure draft the “most extensive reconsideration” of appraiser qualification criteria since 1989.

www.bisnow.com

In the draft, TAF said it was guided by an analysis conducted by a consulting firm, which “confirmed that degree attainment did not correlate with better performance in appraisal practice.”

Really?
Why doesn't TAF put more effort to show whether how prevalent bias is in appraisal practice since TAF’s mission is to protect the public by ensuring appraisals are objective, unbiased, and competent.

 

[Surf Cat]

structured decision-making support from The Decision Lab

Ah Ha..... so that's it.... the AMC's consulted The Decision Lab. Their structured decision-making support led them to conclude "take the lowest fee" even if a previously hired appraiser it's in route to the subject.