Category: The Appraisal Foundation

July 2, 2025

The AMC Industry Won’t Be Toppled by Code

Call me when AI stops summarizing and starts suing, because until it drags the AMC industry into court, raids their coffers, and rewires the entire system they broke, it’s just another overhyped spectator in the plunder parade. We’ve entered an era where more people are giving AI broader directives, asking bigger questions, and expecting deeper responses, only to receive yet another AI-generated summary. But what, exactly, is AI doing in response? That’s the real limitation of the tech. Right now, millions are spinning their wheels in digital circles, posing complex problems to a machine built to mimic intelligence. And when...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / The Appraisal Foundation

April 1, 2025

Appraisal Institute Scandal – Widespread Fraud Uncovered

The Appraisal Institute is embroiled in yet another scandal, and this time it involves widespread fraud and cover-ups at the highest levels of the organization. Alissa Akins, a former director at AI, blew the whistle on a long-running scheme where the nonprofit knowingly misreported test scores to state regulators, potentially allowing unqualified appraisers to get licensed. When Akins tried to sound the alarm and fix the problems, she was met with a “don’t ask, don’t tell” attitude from leadership and ultimately got fired in retaliation. It’s absolutely mind-boggling that an organization tasked with upholding standards and ethics in the appraisal...

AI / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations / Appraisers News

July 19, 2024

Key Part of USPAP Not Available from TAF

this is a colossal failure on their part – to have a key document on BACKORDER until a month from now, or longer! Appraisers, I have a print copy of the current USPAP, but need/want a PRINT copy of the AO/FAQ Reference Manual, which TAF decided to make into a separate document for this version at a cost of $75. I prefer the printed versions, rather than the PDF so I can read it and use a highlighter for key items. I went onto the TAF web site on July 17, 2024 to order the document, and found this: In...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / The Appraisal Foundation / Uniform Standards of Professional Appraisal Practice

April 4, 2024

Obscure Federal Official Has Hatched ‘Sick Chicken’ in Housing Sector

The case eventually found its way to the U.S. Supreme Court, where it came to be known to the public as the “Sick Chicken Case” It was the Great Depression’s bleakest year – 1933. At President Roosevelt’s urging, Congress passed the National Industrial Recovery Act, a New Deal bill that partially ceded lawmaking authority to private organizations and industry boards to develop codes of conduct that would then be enforced on citizens as binding law. The owners of poultry producer Schechter Poultry Corp. were indicted for violating the new private business code for the poultry industry. The chicken men lawyered...

Appraisal / Appraisal News / Appraisal Organizations / Appraisal Subcommittee / Appraisers News / ASC

February 28, 2024

Recap of the 4th ASC Appraisal Bias Hearing

On February 13th, 2024, the fourth ASC appraisal bias hearing took place. For those who were unable to attend, the video of the hearing has been included below. The hearing was a crucial event for the appraisal industry, and it is important for all appraisers to be aware of the discussions and topics addressed. The panel of witnesses included: David Bunton, President, The Appraisal Foundation E.C. Neelly IV, Executive Director, Mississippi Real Estate Appraisal Board Maureen Sweeney, Principal, Maureen Sweeney, Real Estate Appraiser Ltd. Melissa Tran, Director, Texas Appraiser Licensing and Certification Board Jillian White, Chief Executive Officer, Appraisal Insights...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisal Subcommittee

November 7, 2023

Seller Filed a Racial Bias Complaint Against Me

So what’s caused the sudden loss of income? Could it be because of the racial bias complaint filed against me by an unhappy Seller… Fannie Mae accomplished what they set out to do in July 2011, when they initiated their Uniform Appraisal Dataset (UAD) and the Uniform Collateral Data Portal. The goal was to collect enough property data to effectively remove appraisers from the home buying and refinancing process. It all started with Dodd-Frank Act, a several hundred pages Act signed into law by then President Obama, sold to unsuspecting Americans as a protection from the corrupt business practices of...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

May 15, 2023

The New & Improved Fannie Mae “FRAUDULATOR 2.0”

Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie Mae is increasingly being referred to by some, if not many American Appraisers as The Fraudulator / Underwriter 2.0 (FU-2). To be clear it is not limited to the Collateral Underwriter (CU & CU-2) software. The new Fraudulator (FU-2) combines the CU products with their numerous improper uses. The end result of which includes OUTRIGHT FRAUD being perpetrated against banks via the repurchase letters Fannie Mae now issues on a quota based system rather than because of legitimate appraisal defects....

AGA / AI / AMC / American Society of Appraisers / Appraisal / Appraisal Institute

May 10, 2023

The Scam of Racial Discrimination by Appraisers

More and more appraisers are retiring every day. Aside from that more and more are changing to lower liability careers. Eventually, the opportunists who have been promoting the scam of racial discrimination by appraisers such as career politicians, and ‘anti-discrimination’ software hucksters like Black Knight will be shown to be what they truly are. Recently, a highly respected appraiser who is also a senior designated member of a well-known national professional peer association, wrote an article about a new proposed law in New York ostensibly targeting New York appraisers. Mr. Bagott’s article had an unusual amount of hyperbole within it...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Fannie Mae - Freddie Mac

March 22, 2023

How U.S. Home Valuations Are Being Subverted

At the crossroads of it all is a campaign to weaken or eliminate valuations… The nonprofit is now exploring ways it can set standards for automated valuations… Expect greater distortions from Freddie and Fannie’s plodding and committee-driven foray into automated valuations. Sometimes when the hair on the back of your neck stands up, there’s a reason for it. The nation’s $11 trillion mortgage market has been nationalized. This coup occurred in broad daylight and gradually. With Freddie and Fannie now in their second decade in federal conservatorship, the prospect that they will ever again be subjected to the watchful eye...

Appraisal / Appraisal News / Appraisal Organizations / Appraisal Subcommittee / Appraisers News / ASC

February 27, 2023

Look in the Mirror

The phrase “take a look in the mirror” is a common idiom used to encourage self-reflection and introspection. It is a powerful statement that can evoke a range of emotions and reactions from individuals, from contemplation to defensiveness. At its core, the phrase is a call to examine oneself honestly and objectively. It asks us to step back from our assumptions, biases, and preconceptions and consider our behavior, choices, and beliefs in a critical light. When we take a look in the mirror, we are forced to confront our flaws and shortcomings, but also to recognize our strengths and achievements....

AI / AMC / Appraisal / Appraisal Institute / Appraisal Management Companies / Appraisal News