PAREA Update

[shrubberyvaluation]

Had to close it when he started talking about implementing their "Diversity, Equity, and Inclusion Plan"

So I guess public trust is no longer the goal. I'd wager most people using those terms just do it because they are buzzwords the cult likes. So we have to change Mother's Day to Birthing Persons day to be more inclusive...who is being included?

 

[glenn walker]

The Public doesnt even know who we are or what we do until a value comes in low. The Public Trust was just the Preamble for using in USPAP back in 1988 - It sounds good just like today its about race and gender and social equity. Just repeat it until you have it memorized

 

[djd09]

Black reporter for Wall Street Journal detained outside a Chase Bank in Phoenix while conducting interviews​

Phoenix police officials told NBC News on Thursday that the department has agreed to a probe after Editor-in-Chief Matt Murray wrote a letter dated Dec. 7 to Phoenix Police Chief Michael Sullivan “expressing concerns” regarding the incident. On Nov. 23, Dion Rabouin, who covers finance for the Wall Street Journal, was detained in a police car while conducting interviews outside a Chase Bank. An officer accused the reporter of trespassing and took him into custody.

“We’re deeply concerned that Wall Street Journal reporter Dion Rabouin was detained, handcuffed and placed in the back of a police vehicle while reporting,” a Journal spokesperson said in a statement. “No journalist should ever be detained simply for exercising their First Amendment rights.”

Rabouin was interviewing passersby for a story about savings accounts when a pair of employees walked up to him, asked what he was doing and went back inside, he told ABC affiliate KNXV. He said the employees did not ask him to leave. Soon, Police Officer Caleb Zimmerman approached and told Rabouin he was trespassing, he said.

Black reporter for Wall Street Journal detained outside a Chase Bank in Phoenix while conducting interviews

that is right, there is no such thing as public trust when criminals sit on the IAC. get them racist appraisers they say

 

[djd09]

This also means that a new ethics rule contained in the standards won’t take effect until 2024, as well.


“After careful consideration, the Appraisal Standards Board has voted to extend the current edition of USPAP through December 31, 2023,” Appraisal Standards Board Chair Michelle Czekalski Bradley said in a statement. “The ASB launched a comprehensive review of the ETHICS RULE in February and just released the resulting Third Exposure Draft in July. As USPAP matures, revisions such as this will take more time to conduct the requisite research to ensure changes continue to uphold the public trust. I am proud of the work we have done, in conjunction with the preeminent fair housing law firm Relman Colfax, to develop the proposed changes to the ETHICS RULE in the Third Exposure Draft, and the Board looks forward to receiving public comment on this proposed change.”


The delay comes as federal housing regulators and the news media are increasing their scrutiny of racial bias in home appraising. The Biden administration and the Massachusetts Board of Real Estate Appraisers have launched action plans aimed at eventually rooting out such bias, whether conscious on the part of the appraiser, caused by poor training or problems in the way the appraisal system works that cause Black-owned homes to be frequently undervalued compared to white-owned homes.


The draft ethics rule released by the Appraisal Standards Board in July includes a new nondiscrimination section that explains how existing nondiscrimination laws, like the federal Fair Housing Act, also apply to appraisers. It also tries to guide appraisers away from ways bias can creep into an appraisal, like using “assumptions, stereotypes or proxies” about people based on race, gender, sexual orientation, disability or other protected classes or the demographics of a neighborhood when writing an appraisal.

• Relman Colfax PLLC
  1225 19th Street, N.W., Suite 600
  Washington
  DC
  20036

 

[chad hampton]

I’ve never met anyone involved in lending, who isn’t looking to lend out the maximum amount they possibly can. This entire topic is stupid beyond measure.

 

[shrubberyvaluation]

I’ve never met anyone involved in lending, who isn’t looking to lend out the maximum amount they possibly can. This entire topic is stupid beyond measure.

I mean its easy when its not their money. I've worked with hard money lenders that have gone through periods that they did not accept new customers.

 

[TerryRohrer]

I’ve never met anyone involved in lending, who isn’t looking to lend out the maximum amount they possibly can. This entire topic is stupid beyond measure.

Appraisals for lenders exist to transfer liability for poor decisions from lenders to others. The last 30 years has been a systematized process to allow that while simultaneously lending the maximum amount possible. This is just a late stage.

 

[shrubberyvaluation]

Appraisals for lenders exist to transfer liability for poor decisions from lenders to others. The last 30 years has been a systematized process to allow that while simultaneously lending the maximum amount possible. This is just a late stage.

Which is why PAREA is so important. Its much easier to get people to put their license on the line when they just have to take some classes then when they have to apprentice for 2+ years.

 

[TerryRohrer]

Which is why PAREA is so important. Its much easier to get people to put their license on the line when they just have to take some classes then when they have to apprentice for 2+ years.

And when that is all that appraisers are exposed to at the outset, along with the play along for pay system now entrenched, it will quickly become the norm. Those who learn the many ways to game the system will be able to control huge swaths of the appraisal industry, and can do do without ever being trained as an appraiser. An army of PREA grads, each with a laptop loaded with ChatGPT, and any volume can be met by a few large firms, like Class Valuation. And when things go awry, close shop and start anew with a new entity name.

 

[TerryRohrer]

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