Senate Passes Housing Bill--Does it have the Dodd Bond?

[Michigan CG]

and has been said over and over... Passing the test,or for that matter taking USPAP classes every two years will not automatically infuse ethics, honesty or a desire to preserve the profession

tis a dam shame isn't it?

The requirements for certified after 2008 were made very clear for two years and everyone had the same opportunity to upgrade. Being certified doesn't necessarily make someone more ethical, but it does make them more educated.

I personally do not understand anyone not upgrading to be more recognized and competent in their profession, the minimum standards are just that, minimum.

 

[Mike Phillips]

In addition, singling out state licensed appraisers against state certified appraisers is discriminatory by nature and they wouldn’t do it unless they had a very good reason and I didn’t see any reasoning for that action.

But...there is nothing vague about the new AQB requirements. All licensing is by definition, discriminatory. The licensing of any vocation or governance of any human action is discriminatory. Society says, "you can flip burgers at BK" without a license - it is your right; your employer and the marketplace will discriminate against you as they see fit. However, "in order to practice this vocation" you need a license - you must demonstrate your competence as we set forth because a license is a privilege that must be earned.

The Licensed level category is not in the best interest of the appraisal profession. It will be phased out - the AQB has spoken - the minimum is Certification. In the future there will two levels: Trainee and Certified. Entities at the federal level will trump state law.

What some of you don't like is when and where society draws the line. You saw it coming, but you didn't believe it because the justification for the new requirements do not fit your system of logic.

If the regulators decide to require a professional designation such as the SRA to complete certain appraisals I won't like it either. Actually, what I won't like is facing the reality that I had plenty of time to earn it long ago and I didn't.

 

[moh malekpour]

What some of you don't like is when and where society draws the line. You saw it coming, but you didn't believe it because the justification for the new requirements do not fit your system of logic.

If the regulators decide to require a professional designation such as the SRA to complete certain appraisals I won't like it either. Actually, what I won't like is facing the reality that I had plenty of time to earn it long ago and I didn't.

First of all, I am certified appraiser and have been certified appraiser for last 16 years. So, I am not talking for myself.

Secondly, a discriminatory action is the action with no reasoning behind it especially when the government does that action. The AQB licensing classification was not discriminatory because they had a reason for that classification and they said that reason when they wrote it. They let anyone who wanted to be appraiser to know that a licensed appraiser cannot do appraisal on properties with value more than $1 million dollars. This was very clear to everyone who wanted to be licensed or certified appraisers. Based on that rule, some appraisers who were practicing in areas that didn’t need certified appraisers didn’t bother to upgrade their licenses. But now the lawmakers are trying to deny them to do FHA appraisal without any reason. There is no FHA loan for more than $1 million even the new-moderated FHA cannot finance more than $760,000. So, what is the government’s reason to deny state licensed appraisers to do FHA appraisals? Are they generalizing that all licensed appraisers are incompetent? If they do, I think it is discriminatory and unfair because I know it is not true. Do you personally think that all licensed appraisers are incompetent to do FHA appraisals? Do you think that all Certified appraisers are superior to licensed appraisers in doing FHA appraisals? Of course if the bill, which is going to be the law, stands as it is written, lenders are not going to select any licensed appraisers not because they don’t want to but because they are told by government not to do so.

 

[Mike Garrett RAA]

FHA isn't the end all to end all anyway. I suspect that the license level will be gone by 2010 and everyone has the chance to upgrade their license albeit harder to do now than it was prior to 2008.

Appraisal organizations do not "certify" appraisers so the bill, as presently written, is flawed. Look for it to be re-written before it becomes law. Would it be a bad thing that all appraisers be a member of a professional organization? I don't think so. Should all appraisers have additional appraisal education? I think so.

There are a number of appraisal organizations that are legitimate. They also have educational requirements, continuing education, and grant designations. Cost of membership varies as does the quality of the programs. Membership should be considered a cost of doing business.

The goal, as I see it, is to improve the quality of the appraisal and public trust is the end result. We made it far too easy to become an appraiser. 75 hours basic training, a test that was taught by the proprietary schools, and a mentoring program that didn't get the job done. The ASC and TAF are working to correct the deficiencies but it's like closing the barn door after the cows are out.
In my state, it takes 1200 hours just to become a barber, 1800 hours if you want to be a cosmetologist. Why did we make being an appraiser less of a career?

If you are a licensed appraiser, see the hand writing on the wall and work toward your certification. If you don't think you can do that look for another job.

I wish you well.

 

[Bama Bayou]

Everyone take a chill pill and wait it out.

If you are licensed and depend on FHA work I would not wait it out. Get your education hours in, take the test, and get certified. Start now.

This bill will become law 10/1. FHA does not have any flexibility on this.

 

[Bama Bayou]

Appraisal organizations do not "certify" appraisers so the bill, as presently written, is flawed. Look for it to be re-written before it becomes law. Would it be a bad thing that all appraisers be a member of a professional organization? I don't think so. Should all appraisers have additional appraisal education? I think so.

It is flawed just as you explained.

This bill will not have even a comma changed before Bush signs it next week. The exact same bill has been passed by the House and the Senate. Changes are not allowed. It can be vetoed but W says he will sign it. This is a done deal.

I think the appraisal organization provision is meaningless for all practical purposes. The certification requirement is not meaningless. It will become law 10/1.

 

[Mike Phillips]

moh - my bold.

RE: "Secondly, a discriminatory action is the action with no reasoning behind it especially when the government does that action."

Obviously your opinion. My opinion is my tax dollars are going to fund the bailout - my opinion is, the borrower deserves an OMV by an appraiser who has demonstrated more than what the Licensed level requires, regardless of the MV of the property.

Big bucks from gubment will attract many flies. I don't want the flies who are now at Trainee level getting motivated to obtain their Licensed ticket in the next year so they can get in on the pickin's.

RE: "This was very clear to everyone who wanted to be licensed or certified appraisers. Based on that rule, some appraisers who were practicing in areas that didn’t need certified appraisers didn’t bother to upgrade their licenses."

Ah...yes...and what better time to encourage them to get off dead center? A little motivation from HUD is a nice start. Hopefully, next it will be Fannie and Freddie, OR (more likely) the final phase-out of the Licensed level license category will be announced in some future legislation. Then the whiners will do their thing, just like the quasi-appraiser RE agents/brokers did back in '89 and the vocation will take another step to becoming a profession.

The notion that the Licensed level appraisal license category is damaging to the appraisal profession is not well understood. It will take some time. The damage comes from the ability of the Trainee to enter the field and in the short-run, slightly more than 1 year (actually 1-2) and compete directly, unsupervised, with the Certified appraiser who required 2-4-5 years. A "quick path" to entry into the field must be eliminated.

Pontificate a while on the affect this might have on the supply of appraisers willing and able to work for AMCs and let me know what you think next time we chat.

 

[Anthem]

Two things here:

1. To all the Licensed appraisers out there, I would quit looking for loopholes and look to upgrade. Many states have gotten rid of the Licensed level. Talk among groups such as AARO (for a few years now) is that the Licensed level will soon be gone nationwide, with our current environment I am betting sooner than later.

2. Has anyone found anything else in this bill that is directly related to Appraisals, Appraisers, HVCC ????

 

[Bama Bayou]

Two things here:

1. To all the Licensed appraisers out there, I would quit looking for loopholes and look to upgrade. Many states have gotten rid of the Licensed level. Talk among groups such as AARO (for a few years now) is that the Licensed level will soon be gone nationwide, with our current environment I am betting sooner than later.

2. Has anyone found anything else in this bill that is directly related to Appraisals, Appraisers, HVCC ????

I would have to agree with number one. I would also expect the elimination of the licensed catigory to accelerate due to this provision. I think we can expect Fanny & Freddie to follow suit even though they don't have to.

As far as number two, there are several mentions of appraisal and appraiser in the bill, but the most significant is requiring a certified appraiser to do FHA work. The rest of the references to appraisers are a rehash of don't influence, blah, blah, blah. No mention of bond for appraisers.

The provision for someone who is "certified" by a national appraisal org is hogwash and makes no sense.

 

[Truett Neathery]

Fannie Fred's past predict future

I wonder if fnm will continue to go down.

Both those GSEs were busted a few years back for "bookkeeping irregularities' , meaning "cooking the books" to qualify the APPOINTED execs for large bonuses. Those guys are certainly of the same type as the current execs. It only takes 2 years for any type of disaster to be forgotten by the public.

TN