PAREA Update

[Non Sequitur]

Not "don't believe"....
More like, "don't care"....

Unfortunately, true.

 

[Sadie]

And make no mistake, the incoming "generation" will be trained to do what the AMC wants them to do.

Thanks for posting the link, we still have appraisers who don't believe PAREA is charging forward.

Just like the previous generation was trained to do what the client wants them to do. No difference just another layer.

 

[Non Sequitur]

Just like the previous generation was trained to do what the client wants them to do. No difference just another layer.

Touché.

 

[djd09]

Three former Wells Fargo execs face fine of $18.5 MILLION for failing to stop the mega-bank's fake account scandal ​

In a decision released on Wednesday, administrative law judge Christopher McNeil said there was enough evidence to recommend hefty fines against the three former execs of the US bank.

the pinnacle of public trust

 

[Non Sequitur]

Another update for appraisers who think PAREA ain't nuthin' to worry about:

“'The Appraisal Foundation (TAF) hopes to see the next generation of appraisers jumpstart their careers with the launch of multiple PAREA programs in 2023,” TAF President David Bunton said."

"The Appraisal Institute (AI) shares a similar present wish and sentiment.

“My wish would be to continue supporting opportunities for aspiring appraisers to enter this wonderful profession through programs such as the Appraisal Institute’s Education and Relief Foundation scholarships for women and minorities, the Appraiser Diversity Initiative (ADI), a partnership with AI, Fannie Mae, Freddie Mac and the National Urban League and the Appraisal Institute’s Practical Applications of Real Estate Appraisal (AI PAREA) program and future efforts with the goal being the faces of the appraisal profession mirroring the faces of the communities in which we work,” AI President Jody Bishop said."

"If I could have one gift under the Christmas tree that would be to have all state appraisal boards and commissions accept PAREA for 100 percent of experience credits toward appraiser credentialling,” veteran appraiser Greg Stephens said. “A second gift would be for several prospective providers to successfully complete a comprehensive PAREA program, receive approval from the AQB and make it available in the market."

What gifts await appraisers under the holiday tree? | News | Valuation Review

Once again, it is the time of the year to ask appraisers what their ideal gift from Santa Claus is. Appraisers, legal experts and organizations were kind enough to reveal what they’re hoping for this holiday season. Read on to find out what is on the industry's list.

www.valuationreview.com

 

[shrubberyvaluation]

Starts at the 34:00 minute mark. Wish someone would have asked why they aren’t trying to diversify the certified general side.

Politics.

 

[shrubberyvaluation]

Appraisal Business Fears Modernizing And Newcomers​

Appraisers also need to mitigate appraisal bias

A panel that included Julie Giesbrecht, senior policy analyst with FHFA, Elizabeth Green, chief strategy officer with Appraisal Logistics, and Jillian White, head of growth with Aloft Appraisal, discussed those topics and more.

What You Need To Know​

“The appraiser’s role doesn’t change. He’s still there,” said White. “The skills and responsibility might change, but he still needs to ensure that the data is accurate.”


Green added that modernization will actually help because it allows them to spend more time analyzing data. “With desktops and hybrids they could be on vacation and do an appraisal as long as they are comfortable with the data,” she said.

Green added that modernization will actually help because it allows them to spend more time analyzing data. “With desktops and hybrids they could be on vacation and do an appraisal as long as they are comfortable with the data,” she said.

​

“A lot of bias is baked in. Bias is ingrained. We need to recognize that.”

– Elizabeth Green, Appraisal Logistics

https://nationalmortgageprofessional.com/news/appraisal-business-fears-modernizing-and-newcomers

i cant stop laughing

Do they mean like if your opinion of value is lower than they need to make the loan it has to be wrong...bias.

 

[shrubberyvaluation]

View attachment 68072

I thought her knitted mask for COVID was pretty stylish.

 

[shrubberyvaluation]

When VP Harris used the 'equity' word on who should get help first from Hurricane Ian, I thought, that sounds familiar. And I wondered how "equity" will work in appraising. So will all appraisals need "equity" consideration or just some properties (and how will that be determined). And how will the appraiser know this is an "equity" situation, since we typically don't know or meet the borrower, and the seller isn't necessarily the "buyer." I'm just curious how PAVE is going to accomplish their equity goal.

Equity means discrimination.

 

[shrubberyvaluation]

Unfortunately, I believe those striving the hardest to quantify the alleged bias are full of their own biases.

Everyone has preconceived biases, the question is how well we overcome them. There are certain house features I hate and don't value, but I have to look at how a typical buyer reacts to it.