Waivers 50%. Hybrids 30%.

[Surf Cat]

Whatever damages these programs end up creating will eventually result in losses. What nobody can even guess at so far is whether those damages will be significant or insignificant.

That's the whole thing..... it doesn't matter because the GSE's will get bailed out.

They're saving money now though! By skirting around the system.... some executive is getting a new yacht or seaside villa.

 

[shrubberyvaluation]

That's just it, whenever I talk to a borrower or homeowner about what's "really" happening in regards to the appraisal process. They are like a deer in headlights...no idea, no clue.

This is to the AMC, appraisal modernization, lender's advantage..... and to the appraiser's detriment.

And the consumers detriment.

 

[shrubberyvaluation]

That's the whole thing..... it doesn't matter because the GSE's will get bailed out.

They're saving money now though! By skirting around the system.... some executive is getting a new yacht or seaside villa.

Like I said, to perpetuate fraud, in the name of modernization.

 

[Surf Cat]

And the consumers detriment.

I actually don't think the consumers care. As long as they get the house, the payment, the refi, whatever....It's all good.

That's why in my opinion, Public Trust smattered all throughout USPAP is meaningless. The public trust is only waned if the deal doesn't go through.

I follow USPAP, Fannie Mae guidelines, lender conditions because those are the rules. I follow the rules for my own moral compass, and pride in work product.

When I work on our house or our rental, detail our cars, etc. I don't do a slipshod job. I do it to the best of my ability because I have pride. Same thing with appraisals, even though the profession seems to be going down the drain.

Maybe there will be some sort of Revelation and it'll all turn around. That makes me wonder how the Korean appraisers are doing....

 

[George Hatch]

The operative term is "public trust in appraisal practice". Not public trust in the mortgage lending business or the RE markets.



And, 99% of the enforcement of appraisal standards occurs at the individual level, by choice. Not out of fear or coercion and especially not at the hands of the state appraisal boards. We choose to consider ourselves part of the group and point to our compliance as proof of our status.

 

[alebrewer]

I follow USPAP, Fannie Mae guidelines, lender conditions because those are the rules. I follow the rules for my own moral compass, and pride in work product.

Agreed. This (above) promotes public trust, but that's not our job (IMO). Our job is to do what you just stated - TAF can promote and uphold public trust.

 

[George Hatch]

Your professional reputation is the result of the trust you have earned with your clients and users.

 

[Non Sequitur]

Per the owner of a mortgage company. I asked him to give me a rough estimate of the amount of waivers and hybrids at my appointment today.

For the mini refi boom we had, he said 50% waiver, 30% hybrids.

Those numbers are for his firm and market....may not represent all markets.

I believe it, I have heard and read this too many times for it not to be true. Obviously the caveat is "may not represent all markets" but it's coming soon.

 

[DWiley]

I will just leave this for anyone who wants to see actual data.

https://www.aei.org/wp-content/uploads/2025/09/GSE-Appraisal-Waiver-Infographic-July-2025-FINAL.pdf?x85095

 

[Surf Cat]

Agreed. This (above) promotes public trust, but that's not our job (IMO). Our job is to do what you just stated - TAF can promote and uphold public trust.

How can TAF promote and uphold public trust when they don't advocate for the profession? They turn a blind eye.

After a hiatus away from the appraisers forum, I came back on here and here's Mejappz and Robot dude (djd09) going off on them...I was like "Whoa.... these dudes are black helicopter, conspiracy theorists". All the back and forth with other members whom state it's not the Orgs position to advocate for us.

Look at the status of the profession now. AMC's STILL don't pay customary and reasonable fees, have their own staff, there's no indication of whom is being paid what for an assignment, and non-appraisers are inspecting the subject property that's being appraised. It's gone to Hell in a hand basket.

It's difficult to make an argument that TAF has fulfilled their role as advocates for the profession. They instead allow the status quo to persist, which benefits AMCs and lenders at the expense of appraisers and consumers. And yes, I know before you start typing.... that's not their role. However, you can't be dedicated to the advancement of professional valuation, without advocating for it.

So, while TAF is busy setting national standards and qualifications to ensure public trust and professional integrity, appraisers are drifting rudderless at sea....