Todays Bombshell Executive Order Ends Traditional Appraisals.

[keysersosa1]

only congress can pass laws...

this congress? come on

 

[chad hampton]

Garbage or not, your license requires your compliance. Especially when you sign reports which certify that compliance. That makes the competency with the material a virtue, not a vice.

TBH, I don't know why you even bother to argue the content or the underlying reasons for the content with me. You clearly don't have what it takes to defend the myths you tell.

You push a book that can be used to defend any position possible. It’s been that way for a while.

I also didn’t sign an NDA. so I’m allowed to have an opinion

 

[George Hatch]

When considering the book doesn't defend the position you're taking on this topic that already invalidates your reasoning here. That's why you keep ending up on the losing side of the quotes.

 

[keysersosa1]

If this really expands no-appraisal loans, it could make things faster, but I’d still want some kind of valuation check - markets can get weird real quick.

its a recipe fot disaster

 

[keysersosa1]

This is all about affordability Housing shortage and 30 million immigrants that take up a lot of housing I think we have seen the handwriting on the wall for the past few years'


I hate it for the regulars at this forum. I hope you can survive until you can retire

The affordability crisis is a widespread economic challenge where the cost of essentials like housing, healthcare, food, energy, and childcare rises faster than wages,


leaving millions of Americans struggling to meet basic needs.

Scope​

The affordability crisis affects a broad spectrum of Americans, including middle-class families, younger adults, and people of color. Across 160 U.S. metro areas, at least 20% of middle-class households cannot afford basic necessities, with Latino or Hispanic families facing the highest burden at 50% and white families the lowest at 27% (Brookings

do you really think those immigrants are buying houses? come on get serious- corporations are buying the houses its why they want to buy your time share- we are moving to a pre FDR rental society- corporations and investors are buying the housing stock. It's why there is no inventory -this BS that trump is pulling is just making it easier for him and his cronies to buy houses to rent- its why you see all those "we pay cash for your house" advertisements

 

[djd09]

You push a book that can be used to defend any position possible. It’s been that way for a while.

I also didn’t sign an NDA. so I’m allowed to have an opinion

USPAP is so useless...that in trumps executive order there is no mention of it

 

[keysersosa1]

Your boy Trump is dead in water after November. trump is lame duck and knows it. He is taking all the money he can and knows he is done.

He is cooked goose.

The stars are aligning. I can smell it in the air.

Money can derange a person. It is like the more you get the more you want and don't care how you get it.

My Lord Jesus fed multitudes with what little a boy had in small basket.

trump is a criminal he thinks like a criminal- this is all about making it easier for investors and corporations to buy housing as we move to a rental society they want to take all your money make you beholden to them like the mining company store -its why there is no inventory

 

[TerryRohrer]

do you really think those immigrants are buying houses? come on get serious- corporations are buying the houses its why they want to buy your time share- we are moving to a pre FDR rental society- corporations and investors are buying the housing stock. It's why there is no inventory -this BS that trump is pulling is just making it easier for him and his cronies to buy houses to rent- its why you see all those "we pay cash for your house" advertisements

Too bad you are wrong on all the facts. Immigrants are buying homes, many through our mortgage programs. Corporate buyers own a very small percentage of homes. Inventories are atypically low in large part because so many mortgages are at 3% or so. All the actual numbers are posted throughout the Forum if you want to search and get the true facts. I have no idea what Trump's motivations are, much like you don't.

 

[djd09]

https://twitter.com/x/status/2032846064739623419

hello AI...

 

[keysersosa1]

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 ... traditional lending guidelines go out the window ... hello "no income verification" mortgages ...

2000s - Bush II The Horrible's Admin doubles down on the policy, causing MASSIVE rapid growth in lending/refinancing/RE 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 "RE Bubbling" - when all they did was provide a service UNDER THE RIDICULOUS LENDING RULES IMPLEMENTED BY THE GOVERNMENT:

2008 - UNneeded "Appraisal Reforms" 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 ...

2015-2022 - By the late teens a "Rebound RE Boom" leaves everyone crying about appraisal turnaround times, because no new appraisers have entered the business in a decade .... (AGAIN, SOLELY DUE TO GOVT OVER-REGULATION) ...

2026 -Their 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 and maintaining the integrity and checks and balances of the system. Instead - those checks and balances (read: Independent Appraisers) are thrown out.

ALL THIS TO CURE A 'PROBLEM' - THAT WAS SOLELY CREATED BY GOVERNMENT POLICY AND THE BUREAUCRATS.

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.

you think fair housing is racist? wow- the 2006-2008 housing crisis was caused by breakng down the banking walls -allowing investment banks to write mortgages allowing wall street to invest in mortgages- wall street flooded the market with hundreds of millions that needed to earn interest immediately thus the crazy loans to unqualified buyers and the collapse. the point is deregulation caused all these problems- the idea that any industry is going to regulate it self is infantile and history shows that.