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

[Mike Garrett RAA]

I just read the entire bill, almost 700 pages and about 10 lines devoted to appraisal. Glad I am certified.

 

[moh malekpour]

moh - my bold.

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.

Mike,
This is not the way to encourage licensed appraisers to upgrade their license levels. If AQB wants to eliminate the license level, they should either honor those who have already been licensed or give them a year or two to upgrade their license to ceritification. They issued them a license and suddenly deny them to do FHA appraisals merely for the lack of certification is unfair in my book. I am for more education and I have a college degree. I am also for more experience and I have 17 years but relying on license level or designation only for appraisal qualification is unfair to licensed appraisers.
I have seen review appraisers and underwriters who scrutinize licensed appraisers more because there is an assumption that they are less experienced or incompetence. This is a generalization and it is not true all the times. The same people can be intimidated by CGs or designated appraisers because the assumption is CGs and designated appraisers are not doing anything wrong and they know it all. to me, both assumtions are wrong.

 

[Bama Bayou]

Mike,
This is not the way to encourage licensed appraisers to upgrade their license levels. If AQB wants to eliminate the license level, they should either honor those who have already been licensed or give them a year or two to upgrade their license to ceritification. They issued them a license and suddenly deny them to do FHA appraisals merely for the lack of certification is unfair in my book. I am for more education and I have a college degree. I am also for more experience and I have 17 years but relying on license level or designation only for appraisal qualification is unfair to licensed appraisers.
I have seen review appraisers and underwriters who scrutinize licensed appraisers more because there is an assumption that they are less experienced or incompetence. This is a generalization and it is not true all the times. The same people can be intimidated by CGs or designated appraisers because the assumption is CGs and designated appraisers are not doing anything wrong and they know it all. to me, both assumtions are wrong.

The AQB did not stop licensed appraisers from doing FHA work. HUD/FHA didn't either. Congress did and POTUS will sign off on it. If you want someone to blame that would be the US House of Representatives, the Senate, and the President.

While it may be unfair to some it will be signed into law next week and take effect 10/1/2008. Expect lenders to put this provision into effect immediately.

 

[Mike Garrett RAA]

Seems to me they did give you two years to upgrade!

 

[Bama Bayou]

I was thinking more like fifteen.

 

[Greg Bell]

I sent an e mail to my Congressman and senators.They will take care of the FHA licensing thing , all is saved..

 

[moh malekpour]

Seems to me they did give you two years to upgrade!

I upgraded mine 16 years ago and I didn't need anyone to tell me to upgrade it because there were not too many appraisers around at that time anyway. Can you please tell me when did HUD or AQB gave a notice to licensed appraisers to either upgrade their license to certificate or they are not going to be able to do anymore FHA? As I said earlier, I have no dog in this fight but I am just curious to know where this requirement started? Please post it here if there was any official notice or annoucement from HUD or AQB requiring Certification only to do FHA appraisals?

 

[Bama Bayou]

Moh, I think Mike was being rhetorical by the use of the word "you". Your certification level is obvious.

The AQB did not stop licensed appraisers from doing FHA work. HUD/FHA didn't either. Congress did and POTUS will sign off on it. If you want someone to blame that would be the US House of Representatives, the Senate, and the President.

While it may be unfair to some it will be signed into law next week and take effect 10/1/2008. Expect lenders to put this provision into effect immediately.

 

[Bama Bayou]

I upgraded mine 16 years ago and I didn't need anyone to tell me to upgrade it because there were not too many appraisers around at that time anyway. Can you please tell me when did HUD or AQB gave a notice to licensed appraisers to either upgrade their license to certificate or they are not going to be able to do anymore FHA? As I said earlier, I have no dog in this fight but I am just curious to know where this requirement started? Please post it here if there was any official notice or annoucement from HUD or AQB requiring Certification only to do FHA appraisals?

HUD and AQB have nothing to do with it. Congress told FHA they must use certified appraisers. The bill passed congress yesterday and Bush says he will sign it this week. It goes into effect 10/1/2008.

This is not regulatory. It is (or will be 10/1) federal law.

 

[moh malekpour]

HUD and AQB have nothing to do with it. Congress told FHA they must use certified appraisers. The bill passed congress yesterday and Bush says he will sign it this week. It goes into effect 10/1/2008.

This is not regulatory. It is (or will be 10/1) federal law.

I know it. that is why I wrote post# 58 and gave 3 scenario for that section of the bill with neither of them making any sense. PLease read post# 58 and tell me which one of those 3 makes sense to you or if you have your own reason that why they wrote that section that way, let me know.