Regulator wins TAF CEO position

[George Hatch]

Is that $2,500 for each of those 40+ anti-appraiser companies? How much influence does their $50k fee to reeva get them?

You're running out of steam on the graft/bribery allegation. There are at least 8 non-AMCs on the IAC, and probably more. Moreover, the IAC doesn't even get to nominate members for any of TAFs staff or boards.

How much bribe money do you think it would take to buy enough members of the ASB to enact a change to USPAP that benefits the briber?

While we're at it, can you point to ANY change in USPAP or the AQB Qualifications criteria that has ever been made which advantages the AMCs or the lenders at the expense of the appraiser? I'll give you PAREA as a freebie even though the Appraisal Institute had a hand in that one.

 

[Mejappz]

Is that $2,500 for each of those 40+ anti-appraiser companies?

It sure is. Nice 100K.

 

[Mejappz]

Is that $2,500 for each of those 40+ anti-appraiser companies? How much influence does their $50k fee to reeva get them?

I should mention that Fee got Zillow to lead the IAC AVM task force.

 

[chad hampton]

I should mention that Fee got Zillow to lead the IAC AVM task force.

Stop it. They just pay the fee out of the goodness of their heart. It’s the right thing to do to help out the honorable and ethical appraisal foundation.

 

[Mejappz]

Stop it. They just pay the fee out of the goodness of their heart. It’s the right thing to do to help out the honorable and ethical appraisal foundation.

And that fee is the one that’s made **public** we have no way of knowing how much if any they are receiving under the table. And with TAF's lack of transparency, we will never know. Unless Congress steps in and acts.

 

[George Hatch]

I should mention that Fee got Zillow to lead the IAC AVM task force.

I don't know which of the others own/operate their own AVMs. Do you?

 

[George Hatch]

And that fee is the one that’s made **public** we have no way of knowing how much if any they are receiving under the table. And with TAF's lack of transparency, we will never know. Unless Congress steps in and acts.

So the mere mention of the facts triggers you, huh?

The "secret" payoffs" are probably buried somewhere in the NDA the instructors sign. Because it's a conspiracy.

 

[Zoe]

Has this new director ever done an appraisal? Interesting.

 

[djd09]

The Appraisal Foundation’s governance structure is insular and favors private interests​

Before the end of last year, The Appraisal Foundation’s governance structure featured a pay-to-play mechanism whereby paying Sponsors selected around half of the BOT members. The remainder were elected by that same Board, and many of these elected trustees were members of Sponsors. Although the BOT supposedly changed its structure, the latest hearing brought to light that in practice, the new structure works a lot like Sponsorship by another name.

The Appraisal Foundation has essentially renamed Sponsors “Partners,” whose nominees will almost certainly be added to the BOT. The Appraisal Foundation’s new bylaws state that Partners can only nominate trustees. The bylaws permit up to 10 Partner-nominated candidates be put forward in a given election cycle, but do not limit how many total Partner-nominated Trustees can sit on the BOT. The Appraisal Foundation has publicly stated they intend to have between 9 and 10 Partner-nominated Trustees on the Board. Currently, 11 out of 12 Partners are former Sponsors.1 That means most or all Partner-nominated Trustees will be selected by these Sponsor-Partners.

At the last hearing, Appraisal Foundation President David Bunton confirmed that members of Sponsor-Partners can nominate themselves as “public interest" trustees. Other organizations can also nominate members of Sponsor-Partners. That means there is nothing to prevent the BOT from electing “public interest” trustees that are all members of Sponsor-Partners.

These Sponsor-Partners can still financially contribute to The Appraisal Foundation. Mr. Bunton stated at the last hearing that Partners make no financial contributions. But Partners can choose to do so. Under its bylaws, The Appraisal Foundation can also require Sponsors to make financial contributions at any time. And as recently as January 30, The Appraisal Foundation publicly committed to creating a mechanism that will allow organizations to support The Appraisal Foundation financially and gave no indication that Partners would be barred from using this mechanism.

The Appraisal Foundation’s processes, including the selection of its President, lack transparency.​

Submission of CFPB Director Rohit Chopra to the Appraisal Subcommittee Regarding Oversight of the Appraisal Foundation | Consumer Financial Protection Bureau

On March 8, 2024, CFPB Director Rohit Chopra submitted a comment to the Appraisal Subcommittee regarding oversight of The Appraisal Foundation.

www.consumerfinance.gov

conspiracy...

 

[Zoe]

Just change the name of the foundation. Call it something else besides TAF.