Category: Snippets

Snippets of recommended and/or thought-provoking articles, columns, podcasts, etc. broadcasted by Real Estate Appraisers from around the web

FHFA to Screw Up Appraisals - Creating More Loopholes to Be Exploited 8

FHFA to Screw Up Appraisals

The FHFA is looking for comments on how they can better screw up the appraisal process. So if you’ve got a hankerin’ to help out with that you can find a comments section somewhere on the world wide web to do so. What are your thoughts on this appraisal idea from the FHFA? They have identified a problem where they said one didn’t exist, and they identified what the solution is, and it is going to be through comments from you… They are going to modernize the appraisal process. They have already drawn their own conclusions. Now all they have...

There is Real Corruption in National Leadership 10

Real Corruption in AI National Leadership

Here’s a reminder to all members of the Appraisal Institute that there is real corruption in national leadership: The proposed changes to the AI Bylaws will not allow people nominated to executive positions to provide any outside recommendations for the second vice president position. If they are submitted, they will be discarded. Why? It’s absurd and can only be explained by the stranglehold Jim Amorin and his posse have on AI executive leadership. This was clearly done to keep honest appraisers like Craig Steinley from doing what he did and submit an overwhelming number of letters of recommendations from leaders...

TAF Turns Down Free Grant Money, Counts on Appraisers to Foot the Bill 4

TAF Counting on Appraisers to Foot the Bill

From October 30, 2020 TAFAC meeting, TAF president Dave Bunton said: “Earlier this week the Foundation notified the ASC that it would not be seeking any grant funds for 2021” Turning down “free” grant money means that TAF is counting heavily on appraisers to foot the bill when ethically, TAF should be making USPAP free. They are not taking the money because they are trying to avoid the “strings attached” from ASC (translation: avoiding oversight from ASC). The Cosmic Cobra Guy Jeremy Bagott Asks Us To See TAF As A Disney-like Rights Management Operation From Buzzcast: Junkets, Petitions, and the...

I Can See It Now: Standards I – Sponsored By Zillow 3

Standards I – Sponsored By Zillow

Yesterday I received this feedback from TAF/IAC: The voting process was completed for Zillow Group and they were approved as an IAC member with the required affirmative votes (two-thirds of the IAC members). Thank you for taking the time to vote. My appraisal firm is a member of the Industry Advisory Council (IAC) of the Appraisal Foundation (TAF). I’ve presented to IAC in Washington and the people I’ve met at IAC are great. Before I get to Zillow, here are my thoughts about the structure of the TAF councils: IAC = Pay to Play. In order to see how the sausage...

AI Corrupt & Sham Election Process 7

The AI Corrupt & Sham Election Process

Echoes of the Sham Petition Process are alarming – The following sequence seems astoundingly corrupt. This time series has been confirmed by a number of highly credible sources. In 2017, Appraisal Institute CEO Fred Grubbe essentially resigned in the middle of the night without warning. Apparently, people close to Fred were stunned by the lack of advanced warning. In 2018 AI President Jim Murrett appointed Scott Robinson, former AI president, to lead a CEO Search Project and all of his 8 team members. At the Nashville national conference, Murrett said on stage that the Board of Directors selected the team,...

Slandering Appraisers: Cincinnati Real Estate Broker May Be Both a Fool and a Tool 21

Slandering Appraisers… Fooling the Appraiser

…the purpose of the game is to fool the appraiser into thinking that the property is worth the agreed upon purchase price… Real estate broker Karen Schlosser provides videos to her customers as part of her Tech Tool Monday Series. She recently promoted her video called “Fool The Appraiser” – a catchy marketing phrase to promote dishonesty. She literally has no idea how offensive this is to the appraisal industry and how unprofessional this makes her look to the public and her peers. From the transcript of her video: So, the purpose of the game is to fool the appraiser...

TAF Diversity & Inclusion Subcommittee 5

TAF Diversity & Inclusion Subcommittee

TAF president Dave Bunton has made it a point in the last two monthly newsletters to mention TAF created a “Diversity and Inclusion Subcommittee” which is great if it actually accomplishes something. The Appraisal Foundation Board of Trustees added a Diversity and Inclusion Subcommittee in April of this year, one month before the death of George Floyd, which highlighted some of the inequities experienced by Black Americans. The thing is, the Appraiser Qualifications Board (AQB) hasn’t had a minority member and only 3 women in decades of existence. I really hope that this subcommittee is more than just window-dressing. Adding...

Blaming Appraisers of Racial Bias Without Proof or Logic 18

Racial Bias Claims Without Proof or Logic

The Appraisal Institute just sent a letter to The Appraisal Foundation to address things that have been floating out in the ether for nearly two years. The November 2018 Brookings Institute report blames appraisers without proof or logic for lower property values in minority communities and then the June 2019 Congressional Hearing amplified the Brookings misrepresentation of the appraisal industry. It’s taken 14 months to send this letter? Interestingly, the chairman of the Board of Trustees that Jeff is writing to is a personal property appraiser and not a real estate appraiser. Real property appraisal is the reason for TAF’s...

ASC Extends the North Dakota Waiver for Another Year 3

ASC Extends the ND Waiver for Another Year

On July 29, 2020, the Appraisal Subcommittee voted to extend the North Dakota waiver for another year with a 6 to 1 vote. The overarching reason to extend was because of the COVID outbreak prevented them from meeting in person this year. HUD was the only agency to take issue with this and I have to say I agree with their reasoning. North Dakota had 7 months to come up with a solution before COVID hit. I’m not taking ASC to task on this though because there is some validity to the COVID excuse. My assumption is that there is...

Good Appraisers Lived That Hell Too... Lumped in with the Bad Appraisers 2

Good Appraisers Lived That Hell Too

Instead, good appraisers have been lumped in with the bad appraisers who are long gone… Although I’ve shared the following CNBC clip before, it’s worth showing again given my 15-year ago hairstyle. In 2005, I was interviewed by CNBC in the midst of the Housing Bubble and said that 75% of the appraisals being done then weren’t worth the paper they were written on (hey it was 2005 and they were done on paper, not pdf). They found me because I had just started my Matrix Blog because no one seemed to be listening to appraisers. Incidentally as of this week, Matrix is...

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