TO RECAP - HOW WE GOT HERE:
1990s - Racist Clintoon Admin implements rules FORCING lenders to give anyone breathing mortgage $$$ lest they lose their lending licenses for ... rayyyycism ...
2000s - Bush II The Horrible's Admin doubles down on the policy, causing MASSIVE rapid growth in lending/refinancing/Bubbling; Appraisers rush into profession to handle the volume, their numbers swell;
*BOOM* 2007-2008 RE market crashes, banks go belly up due to the above GOVERNMENT POLICIES ... the 'Big Boys' get off scott-free ... Appraisers get blamed for the "Bubbling" when all they did was provide a service UNDER THE RIDICULOUS LENDING RULES IMPLEMENTED BY DA GUBMINT:
"Reforms" of 2008, that were UN-needed, essentially END the accession of new appraisers into the field by making it too onerous to train new ones; Half of appraisers leave due to lack of work ...
By the late teens, and another "Rebound RE Boom", everyone is crying about appraisal turn times, because no new appraisers have entered the business in a decade .... DUE TO GOVT OVER-REGULATION ...
Solution: Eliminate the trusted and true, proven appraiser business model, a model that was the only UNBIASED component in the entire RE lending process, by going blindly into the "Brave New World" of ... what - 'Hybrids', 'Desktops', 'AVM's and ... the ridiculously over-engineered and unnecessary "UAD 3.6 Abomination" ... instead of creating a system that encouraged appraiser accession into the business and introducing technological change gradually, integrating it over TIME into the appraising business.
ALL THIS TO CURE A 'PROBLEM' - THAT WAS SOLELY CREATED BY GOVERNMENT POLICY AND THE BUREAUCRATS.
Like Glenn, I have no words to express my dismay that many, many people who have devoted many decades of building their appraisal businesses will have the "rug pulled out from under them", for no fault of their own, before they are able to retire.
This is NOT the "American Way". Its a disheartening ****ing Situation, to channel the late Lee Elia.
