TAF paid over 500K to the Law Firm trying to destroy Shane Lanham

[George Hatch]

My read of it is that TAF is under pressure to "do something" and has chosen to align with a law firm that specializes in - and is beyond reproach - in that "something" as a means to stave off further criticisms.

As for Bunton, he gets what he gets. But since he isn't the source of any of these problems his departure isn't going to do anything for the critics. Not unless they can get him replaced with a minority face who is chosen because they're a minority - and even that individual isn't going to be able to do anything for the critics except to remove that one allegation from their arsenal.

 

[Elliott]

Changes to TAF's organization. Sounds more like an 'appointed' board, so it can be whatever someone wants it to be. Less 'stakeholders' more DEI. Getting away from independent appraisers opining value and being told what value they will provide?

"The Appraisal Foundation Board of Trustees Overhauls Governance Structure, Ending Direct Appointments by Outside Organizations

News provided by
The Appraisal Foundation
12 Dec, 2023, 15:38 ET

"Today's vote is the culmination of 18 months of hard work by the Board Structure Work Group," said Board of Trustees Chair Dayton Nordin. "The Appraisal Foundation's boards and staff have done extensive listening and reflection over the last three years to identify opportunities to be more responsive to stakeholders and better uphold the public trust. I am pleased with our proactive efforts to make The Appraisal Foundation's governance nimbler and more transparent."

......................
"Change the structure of the Board of Trustees so that there are nine to ten trustees nominated by a partner organization & nine to eleven public interest trustees, three of whom are nominated by Foundation councils. All trustees will undergo vetting and public interviews with the Trustee Nominating Committee before being seated. Remove earmarks from all seats on the Board of Trustees and transition to using targets to ensure equitable representation among stakeholder groups."

The Appraisal Foundation Board of Trustees Overhauls Governance Structure, Ending Direct Appointments by Outside Organizations

/PRNewswire/ -- The Appraisal Foundation Board of Trustees today adopted the Foundation's first major governance overhaul in over a decade, making...

www.prnewswire.com

From 'swamp' to 'deep swamp'?

 

[djd09]

So... the law firm is only allowed to have one Client? TAF knew that the law firm had been retained by the plaintiffs in the suit against Shane Lanham? TAF knew before they paid that law firm for whatever services were provided? All that we know, from the posted information, is that TAF paid that firm for legal services. If you want to argue that the law firm should have declined to represent the plaintiffs because of a conflict of interest then... maybe. I don't know the details of the work done for the TAF or the circumstances of coming to represent the plaintiffs in the suit... and neither do you.

deny deny deny...

 

[Surf Cat]

are you trying to convince me that the MC has meaning

Look....the 1004MC was dropped....for good reason. It's just as convoluted as many parts of USPAP. Having said that, it's still required by many of these AMC's. If the MC is not utilized, the appraiser still has to give an explanation of how the market analysis was determined....which this dude didn't. Furthermore, the appraiser is in control of determining the subject's market area and which sales are /are not competitive to the subject. Apparently, this dude used a broad brush and didn't scrub the data. Because... according his analysis, he had over 35 "competitive" sales to choose from and he only used a weak 3....

and what would you value the property?

I have no idea....

But what I do know based on reading his report, is that he has a bunch of contradictions as well as a lack of data, explanations, on the how and the why's that convince me, the reader, that his valuation is credible. Apparently, the client had the same reservations as there appeared to be some sort of ROV.

I know I'm being painted as the guy who's against this guy and not rooting for him. When it actuality, I'm just being a realist.

 

[Mejappz]

Look....the 1004MC was dropped....for good reason. It's just as convoluted as many parts of USPAP. Having said that, it's still required by many of these AMC's. If the MC is not utilized, the appraiser still has to give an explanation of how the market analysis was determined....which this dude didn't. Furthermore, the appraiser is in control of determining the subject's market area and which sales are /are not competitive to the subject. Apparently, this dude used a broad brush and didn't scrub the data. Because... according his analysis, he had over 35 "competitive" sales to choose from and he only used a weak 3....


I have no idea....

But what I do know based on reading his report, is that he has a bunch of contradictions as well as a lack of data, explanations, on the how and the why's that convince me, the reader, that his valuation is credible. Apparently, the client had the same reservations as there appeared to be some sort of ROV.

I know I'm being painted as the guy who's against this guy and not rooting for him. When it actuality, I'm just being a realist.

If you think USPAP was a convoluted mess before you should check it out now.

 

[Mejappz]

This website is going entirely haywire it's now posting the blast orders from Class Valution million-dollar desktop propetis on different threads. Lol

 

[Surf Cat]

If you think USPAP was a convoluted mess before you should check it out now.

This website is going entirely haywire it's now posting the blast orders from Class Valution million-dollar desktop propetis on different threads. Lol

If the lenders have deemed appraisers completely irrelevant, I wish they'd just pull the Band-Aid off quickly.

This slow, circling the drain demise with desktops, hybrids, Uber driver inspections with the pittance of what they call a fee is not sustainable.

 

[Mejappz]

Let's All Build the Gallows Together - Appraisers Blogs

Fannie & Freddie have issued a clarion call to all appraisers to pitch in & help build the gallows from which they will hang us all in 2025.

appraisersblogs.com

 

[djd09]

Look....the 1004MC was dropped....for good reason. It's just as convoluted as many parts of USPAP. Having said that, it's still required by many of these AMC's. If the MC is not utilized, the appraiser still has to give an explanation of how the market analysis was determined....which this dude didn't. Furthermore, the appraiser is in control of determining the subject's market area and which sales are /are not competitive to the subject. Apparently, this dude used a broad brush and didn't scrub the data. Because... according his analysis, he had over 35 "competitive" sales to choose from and he only used a weak 3....

no matter what...you cannot analyze corruption, fraud, and waivers...

I have no idea....

But what I do know based on reading his report, is that he has a bunch of contradictions as well as a lack of data, explanations, on the how and the why's that convince me, the reader, that his valuation is credible. Apparently, the client had the same reservations as there appeared to be some sort of ROV.

I know I'm being painted as the guy who's against this guy and not rooting for him. When it actuality, I'm just being a realist.

that is right...you have no idea of value and either do i...but the accusation is the appraiser was biased...well biased compared to what?

 

[ddnma]

That's why I was wondering what is the status of the lawsuit. It's been almost a year and half since filing of lawsuit.
Why hasn't Shane's attorneys demanded to see the 2nd appraisal. It can clear up the discrepancies with the different values.
Or exposes how licensing hasn't met its purpose in stopping incorrect appraisal values out to the public. TAF has failed in what it intended.

Before licensing, lenders used appraisers they feel were competent.
TAF now allows anyone who is licensed to be called an appraiser even if incompetent (Lenders assumes appraiser believes he/she is competent) and Lenders can accept their appraisals.
If an appraiser selectively chooses comps with racism in mind, that's incompetency.

In a rare instance... I agree 100% with you-that licensing has not not met it's purpose and TAF has failed miserably at what it was supposed to do.
Who in their right mind can argue that the quality of appraisals has improved since licensing?