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Two appraisers voiced their opinion about the agreement

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moh malekpour

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http://www.latimes.com/business/la-fi-appraise4mar04,1,7050354.story
Some appraisers, however, said the agreement, which takes effect at the start of next year, was unlikely to solve the problem.

Banks will continue to put unspoken pressure on appraisers to value homes at desired levels, said Bill King, owner of ValueOne Appraisal in Federal Way, Wash.

"It's going to be a long time before the fundamental way business gets done gets changed," King said.

And many appraisers still will do as banks and brokers ask because they want to keep getting hired, said Steve Smith, an appraiser in San Bernardino who has been critical of the industry.

"There are more ethical appraisers who have been put out of business than there are appraisers who remain in business," Smith said
I have to agree with both of them.
 
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Tom Woolford

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I agree with them, this is not a "Magic Bullet". Unless the secondary market changes the way it does buisiness, and requires loans to be seasoned for two or three years, nothing will change.
 

USPAP Compliant

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Why should we expect someone else to police this business when the OFFICIAL policemen have chosen not to?
 

Karl

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"Fannie Mae and Freddie Mac also agreed to pay $24 million to fund an oversight board to monitor compliance with the agreement. The new body would operate a hotline for homeowners and appraisers to lodge allegations of wrongdoing"

Who is putting up the 24 Million & who is in charge of the keys???
 

Hal Mann

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Jan 19, 2005
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Willful Neglect

Why should we expect someone else to police this business when the OFFICIAL policemen have chosen not to?
This all reminds me of the debate over gun control laws. For them or against them, if they would bother to enforce the ones already on the books, there'd be no need for new ones.

Thank you, UC
 
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