Read every post here. It's not over yet...
Read Mr Bagotts article on FNMA fraud. Then read the open comments.
Fannie Mae has been a breeding ground for fraud & abuse, dismantling critical underwriting standards that once protected our housing market.
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The significance of Mr Pulte stepping in, removing management, walking entire departments out never to return. Fired. Fired. Fired. Everyone was told to shape up or ship out. Many of which were the same people whom have systematically diminished the appraisers position over many years. They are gone. Those remaining are unlikely to be so bold into the future.
The CFPB is hanging on a lifeline thread by way of judicial injunction. If the CFPB goes away, so does the safe harbor C&R fee interpretation rule. Call me crazy but I do believe that means the original intent of Dodd Frank on C&R billing using free market fee surveys that do not include AMC fees, instantly goes into effect. Or as the good Mike Kennedy used to say on this website; Please advise when the ficticious CFPB safe harbor C&R billing interpretation will be rescinded. Merry Christmas Mike. Merry Christmas.
Then all that needs to happen is a few policy roll backs of several possible options, and residential appraisers may be in high demand again. Be that waivers, demins, less optional eval or hybrid valuation fulfillment options. Take your pick, if any one of a dozen or more policy revisions happen, this could revitalize the appraisal industry.
This is basically the final push. If you want to make a difference right here and now, it's time to write letters and adopt pro residential appraiser advocacy type activity. Write the FHFA. Write FNMA. Write thoughtful articles for submission to The Appraisers Blogs. That site has many vip decision maker readers, even if they don't post in the free reader blogs areas, they read much of that content.
This is an important moment much like when HVCC came into effect and the inter agency final rules which were a part of DF came into play. When tens of thousands of appraisers nationwide rallied and pushed real reform. If not for the underhanded CFPB safe harbor rule interpretation, we'd all be busy, AMC's would have never proliferated or would have a notably different presence and approach today. We would have never dealt with most of this nonsense over the past decade and longer.
Don't crawl into the grave or give up on a great rewarding part time opportunity through your retirement or remaining working years just yet. You all have put in so much effort, then sit here complaining and looking forward to the industry sunset, like running out the clock. Imaginine something better. Please for the younger appraisers and yourself, the community in general whom were so well served and protected by the appraisers presence; Write some letters. Write open submission articles. Set aside a day or two so regardless of what happens you can look back and say at least you tried. The world is what we make of it. No more. No less. Like all institutions and large scale systems, there is a pull and a flow which changes over time. Now is that time once more.
Appraisers blogs article submission contact link. You guys here on the AF, you know the arguments, you know the content, you know the solutions needed. I'm sure you could simply scroll through much of your recent commentary, lay that out in bulletpoint then essay format, harvest a few links or data verification or reference points, and push meaningful articles. Nobody is going to save this industry except us. If we don't try you might as well quit logging in and even talking about it. You're here still lingering on for all the good reasons, many of which were stated in this one thread. The independence, low stress, need and value of specialty service and a rich body of experience and knowledge. Dig deep, put in a little more time just in another way, send letters, write an article, and we'll see what happens. Just when you thought it was over; like a flash of lightning, here comes the final round, overtime. Even if nobody is looking, please at least get up, get dressed, take off the bunny slippers and pj's, and write a dang letter or article. Dress for success. Even if this trajectory continues and this is the end for most practical purposes relating to gse work, you can always reference the published material you posted, link to that in the future and say look; we tried to warn them this would happen.
Mic check, one two one two. Is this thing on? Is anyone listening? You'd better believe they are. Respond accordingly.
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That less than my 22 year old niece makes fresh out of college. Maybe that’s why they pushed so hard to get rid of that requirement.
