Appraisal Industry Outlook Under Trump Administration
In a recent article, John D. Russell, JD explored the potential impact of the new Trump administration on the appraisal industry. With Republicans set to control the legislative process, Russell analyzed various documents and comments to distill expectations for how appraisal-related issues may be handled going forward. He noted that the Trump administration’s efforts will likely reflect much of the Project 2025 platform, and that its approach to the GSEs and FHFA in the first term could mirror that of the previous administration. Late first-term efforts on housing finance reform may also provide insight into second term priorities.
Regarding the GSEs and FHFA, the clear objective appears to be completing the recapitalization and release of Fannie Mae and Freddie Mac from conservatorship, albeit with guardrails around their activities such as collateral risk management. The recent expansion of appraisal waiver eligibility may not sit well with incoming leadership, as it underscores mission creep. Stronger collateral risk management requirements could be imposed, resulting in fewer waivers and non-appraisal valuation alternatives – a net positive for appraisers as demand for services would increase.
On bias and discrimination, the administration is likely to end the PAVE initiative and reverse any actions seen as threatening the integrity of appraisals. Broader pushback on DEI efforts opens the door for challenges to related changes in appraisal standards and appraiser qualifications. The potential abolishment of the CFPB would spread its consumer protection functions among other agencies, raising questions about the administration of TRID and the disclosure of appraiser/AMC fees.
Reducing regulatory burdens and cutting mortgage costs to boost homeownership will be key focuses. This could impact the comingling of appraisal and AMC fees, or moving appraisal fees out of the zero-tolerance box. Reversing any actions viewed as undermining appraisal integrity, such as the use of CU/ACE scores to seek revisions, could also be addressed.
While the concrete proposals are limited, the mention of appraisals in Project 2025 signals a desire for change. In Congress, previous appraisal-related bills around grantmaking, licensure portals, energy efficiency, and appraiser eligibility could resurface, though larger priorities will likely dominate the early days. An oversight hearing by summer 2025 appears to be the most tangible near-term outcome.
Russell acknowledges the difficulty in predicting whether an administration’s policies and actions will ultimately benefit or hinder appraisers. However, he notes that the previous four years under the outgoing administration were characterized by an intense focus on appraisers and appraisals, particularly in relation to issues of bias and discrimination. Russell reveals insights gleaned from numerous conversations with appraisers, many of whom express a profound sense of fatigue and a strong desire to simply carry out their professional duties to the best of their abilities – with objectivity, impartiality, and freedom from bias. He suggests that the early phase of the Trump administration might offer a welcome respite for the appraisal profession, as the spotlight shifts to other priorities and allows appraisers some relief from the tumultuous scrutiny of recent years. While the long-term effects remain to be seen, a change in focus could provide much-needed breathing room for appraisers to regroup and continue their important work without the added pressure of being under the political and social microscope.
- Appraisers Freed from DEI Propaganda - January 23, 2025
- The Shadowy AMC Fees Draining Billions from Homebuyers - January 9, 2025
- Appraisal Industry Outlook Under Trump Administration - January 6, 2025
I hope so fingers crossed
Well that is “Hopeful Thinking” that all will go back to normal in our industry. Let’s be positive and see what happens.
This policy shift could be a boon for appraisers, as tighter regulations would drive up demand for our expertise. This is quite encouraging!
Wishful thinking. (nothing personal)
According to Russel’s article, the Project 2025 language includes an interesting point about reversing “any Biden Administration actions that threaten to undermine the integrity of real estate appraisals.” But what could this actually entail? One possibility is that it’s referring to the FHFA’s recent efforts to restrict certain words and phrases that appraisers use in their reports. The intention was to eliminate any discriminatory language under the Fair Housing Act. But in practice, it’s turned into a big headache for those of us just trying to do our jobs and provide honest, accurate valuations. We’re constantly second-guessing ourselves, worried that some innocent turn of phrase might get flagged as problematic. It’s like having the appraisal thought police breathing down your neck 24/7. Heck, you can barely describe a property anymore without risking blowback. So it’s no wonder the idea of a new administration coming in and reversing these restrictive policies has a lot of appraisers breathing a sigh of relief. We’d love nothing more than to focus on applying our expertise and making judgement calls without this looming specter of censorship. Give us back the freedom to tell it like it is in our reports using plain English. That’s really all we’re asking for – the ability to do our jobs with integrity and without Big Brother looking over our shoulders. Is that so unreasonable?
Donald’s policies are going to significantly increase the deficit, which will increase the yield on the 10-year bond. Mortgage rates will be closer to 8% than 6%.
Where do you get 6%? Mortgage rates are above 7% right now!
Consider a ARM Adjustable Mortgage that is fixed for 7 years. In 1974 I bought my first house in San Diego for $30k and with a FHA 22.5 % mortgage loan. The rates will come down again and just refinance at that time. I made double payments in 1974 and paid off my house in 3.5 years instead of 30 years. Find the house you want and refinance later. Bye the way, I sold that $30k house for twice the purchase price and traveled the world debt free for 3 years and then went back to work again selling real estate in 1980 to the present. Life is good.
Being a San Diego appraiser Flash I would guess that house was in the community of Mira Mesa or Clairemont. Fast forward to today and those $30,000 homes in the 70’s are worth close to or over a million.
Seek the truth.
I had a 2/1 Spanish Havienda 750 sf on a tiny lot south of University and 37th st. In 1974-77. Left San Diego in 1999 and to Monterey Ca then to Santa Cruz , Ca west of Hwy 1.
In San Diego I competed with 1,800 appraisers in 1999 to compete with 50 appraisers in Monterey Ca and Santa Cruz. I pinch myself every day. Life is good.
Nice. Some 25 years later there are ‘only” 664 active appraiser licenses in the county of San Diego with ‘only 16 trainees. For a county with nearly 3.5 million people, 16 trainees is crazy.
I’m to old and stubborn to move, and besides in another 20 years when there are 50 of us left we will be able to finally set our own fee.
Good luck to you.
Seek the truth.
If the CFPB is disbanded… And the CFPB interpretive rule regarding C&R customary and reasonable appraisal fees was no longer in effect. Instances of sending appraisal requests below C&R fee rates (as established by the VA panel and other independent fee surveys which do not include amc fees), would then be subject to the original DF Reg Z rule; $10k/$20k daily recurring fines per instance of this activity.
Now we can see why the AVM final rule was pushed through which allows lenders to use internally controlled black box computerized valuation models to substitute the appraisal, as well as expansion of the waivers program, removing the appraisal requirement for the majority of mortgage lending activity. Big corps continue to get first purchase opportunity on ever increasing defaults, true price discovery is limited. Just about everything went through with minimal to no resistance, oftentimes with the support of the appraisal trade groups. Game over.
I’ll agree that C&R fees aren’t communism when every property in the US is exactly alike.
This again? We’ve had this conversation before. Amc’s impose an artificially low parity rate upon appraisal services by way of regulatory capture. 20 billion in junk fees and counting. Free markets does not mean having to submit to pay to play or be denied the right to work. That’s not necessarily communism, but could be called racketeering, collusion, and fraud.
https://appraisersblogs.com/the-appraisal-fee-debate-exposing-the-amc-fee-deception/#comment-43752
___________________
Kazys Skirpa said; appraisers cause problems. Like protecting the American consumer from a constant stream of predatory interests? Problems for whom?
Avm’s are cheap and waivers are free. Sure. And a home robber will gladly take everything you own if you leave your door unlocked. Avm’s and waivers, synonymous with financial exploitation. You’ll just have to trust the same people and institutions whom have been so honest in the past.
https://apps.occ.gov/EASearch
Once the new President privatizes Fannie & Freddie they can do what they want.
Oh yes they will.! Private business is there to make as much $$ as possible. Appraisers cause problems and are expensive. AVMs are cheap and waivers are free.
How are we expensive? I’m making less per appraisal than I was 25 years ago. Eggs and steaks are expensive.
I make more than I did 25 to 30 years ago.
On average Kazys, for ever gross dollar I get paid as an appraiser, by way of consumers renegotiating contracts (over priced) I save the average borrower a hundred. Just yesterday, a young VA couple closed on a home where through my professional analysis they were able to cut the contract price by $35,000. Based on VA fees in my area, the borrower paid me $700 but through my independence they ultimately saved $34,300. Of note, the biggest renegotiated contract I was ever part of was for over $560,000.
Tell me again how appraisals are expensive.
Seek the truth.
Meanwhile in the world of Fannie and Freddie, every amc on the planet under similar circumstances outside of the VA;
List agent on phone call to mortgage broker; Who is this Bill Johnson appraiser you sent us, and why is he killing our deals!?!?!? Broker; We’ll get you a new appraiser right away and do not worry, you’ll never hear from that guy again. We’ll click him into the black list and he’ll never know. Also occurring simultaneously; We may have to continue to use this guy for VA assignments but we want him gone and off the approval lists outside of the VA. Done!
Like I used to tell the coach, principles before profits.
Seek the truth.
appraisers keep on drinking the kool aid…
of what kool-aid is this you speak?
How is consuming koolaide even a solution?
Let’s just see how things pan out after Jan 20 and tge first two quarters of 2025.
well I for one hope that the trump administration brings in Fannie and Freddie’s overreach on allowing waivers which serve no purpose in protecting the public from itself or predatory lending practices. I also hope that they will usher in an end to this DEI egenda inspired so-called appraisal bias. There is no such thing and there is not been a single proven case of appraisal bias to this date. Out of of everyone involved in the whole mortgage transaction pipeline the appraiser is the only one who has the most qualifications and education requirements along with standards and guidelines they have to follow which virtually guarantee they follow the antivirus practice of an unbiased impartial appraisal process. The next thing that needs to be done is a complete overhaul of AMC regulations on a national level and have more oversight because they are screwing appraisers left and right taking up to 80% of our fee in the form of commission or add-ons and forcing appraisers to bid on assignments in order to get work. Naturally the AMC will send the bid to the appraiser with the cheapest and lowest-priced and fastest bid in order to maximize their profit. The CFPB has proven this in the white paper that they wrote, in which I contributed at least two of those assignment solicitations that were cited in the paper.
Your right…. If they wanna keep AMC’s and the separation between appraiser and bank then they should separate the appraiser from the AMC. The AMC can still order the appraisal but cannot collect the appraisal fee. The appraiser is to collect his/her own fee for the work they are completing. The AMC must collect a fee for their own services ONLY. Any fee declared an appraiser fee must be collected by the appraiser at the time of inspection. This prevents the AMC charging the client $700 for the appraisal fee and only giving the appraiser a small percentage of this fee collected.
This is kinda how is used to be before Andrew Cuomo, and Fwank, Dawd, and the HVCC came about. I want my COD’s back.
I like not collecting at the door. It’s too confusing for consumers to pay someone for the service being provided, then being told the person they paid is not accountable to them. Things do work better when mortgage lending consumers pay the mortgage lender for the appraisal service, imho. The crux of the problem is corruption in the billing stream. Amc’s were supposed to be these trust worthy companies, but lack of individual licensing and inadequate oversight led to immediate abuse of the system. They could not resist the temptation to become predatory agencies for unearned income and record setting business expansion. For every employee the amc industry hired, there was one if not two licensed appraisers whom never materialized, and other currently licensed appraisers whom went under or left, refusing to provide consumer protection services for GSE’s and FRT’s. The most unethical of appraisers, ones whom would otherwise have been stripped of their licenses, were instead promoted and took a kings share.
dude how could you not want to COD…do you really want the accurate group to hold on to your money for 30 to 60 days (but really it is not your money since it is in their hands)
If the home owner pays me directly for the appraisal, then they should be my client. And should subsequently be able to shop that appraisal to any given lender elsewhere if they want.
If the home owner pays the lender, then the lender should be the appraisers client. And that appraisal is then subjected to portability rules and owned by the lender.
Pick your poison. The conversation about why they’re paying me but I’m held to confidentiality with the lender client, that’s too confusing and is not conducive to fostering public trust in the appraisal profession.
Besides, ever since the appraisal fee always ran through the lender, I’ve never once had a non payment. Appraisers whom deal with cod’s are constantly dealing with cancelled checks and other such shenanigans.
My clever tag line; I don’t care how long they take to pay me, as long as they pay me full fee because I’m not sharing with middle management.
cert 23 makes the ‘borrower’ a quasi client anyways…ask marin city
cert 23. Indeed.
Which amc was it that recommended appraisers use the language; no one should rely on this report for any reason, as a liability shield? I read that just the other day from an appraisers report.
This is the language gse’s said was valid and appraisers can add to liability disclosures instead.
Any use of this report by any party other than the named client is considered an unauthorized use. Appraiser does not assume responsibility for unauthorized use of this report.
I added additional statements that I don’t indemnify anyone, and that I don’t imply any liability protection or compensation for expenses incurred by any parties.
Did you read the one that FTC classified independent appraisers as financial institutions a few years back? You can try to reconcile appraisal industry record keeping rules, alongside the limitations of being a 1099 with cost and equipment limitations, vs this, but you will not be able to.
https://www.fileinvite.com/blog/which-financial-institutions-exempt-from-the-2022-ftc-safeguards-rule
oh i am sure the amcs love collecting the appraisers fee…and then negotiating it
You are right. Years ago I did take checks or get paid out of escrow (feeling sorry for borrowers unable to cover appraisal cost) over 35 years ago and a few of the checks were no good. This was not a problem, I just went to the county assessors office and placed a Mechanic’s Lien on the property plus I demanded the cost of the lien and the release of the lien to be paid on top of the appraisal fee. The loan process was completely stopped until I was paid. Totally legal and easy to do.
Thomas, isn’t that the exact model of the IVPI proposal? Better solutions appear to be tying the consumers fee back directly to the appraiser, forcing rotational assignment of orders to every single appraiser on panel in a more fair less biased approach, and requiring individual appraiser licensing for anyone involved in creating any sort of value product or managing the appraisal process, be that forms, avm’s, hybrids, inspection services, panel management, order distribution, as well as mandating appraisal licenses for everyone involved in appraisal review from the ground up to the CU system. If people had individual licenses, they’d be accountable to ethics and to each other. The model of independent licensing for all valuation service is clearly superior to modernized or automated appraisal schticks.
https://www.workingre.com/wp-content/uploads/2013/08/IVPI-Proposalfinal.pdf
The traditional model that worked was 100% of the appraisal service fee collected, went 100% to the individual appraiser completing the task. The amc’s appraisal handling is more of a side business compared to other income streams for many of them. Yet they operate in this regulated space basically unsupervised by having the entire company licensed under one employees appraisers license.
The lenders had been quite capable of efficiently managing the appraisal process with the old model, it can be done and there is proof it worked. Because the licensed mortgage broker ordered appraisals directly from appraisers, or had one of their staff perform this action. The cost of doing business was cooked in and everyone was free to engage with whom worked best for their individual needs.
The amc apparatus turned out to be a way for lenders to exert pressure without two way accountability, as appraisers now answer to lenders and amc agents, but there is no effective way to counter pressure as two way individual licensing accountability is replaced by independent 1099 vendors being set against multi national amc companies with teams of legal persons, unlimited slush funds, insufficiently qualified unaccountable people managing licensees for services they are not qualified to complete themselves, backed by their own amc trade group, and the appraisers trade groups whom have long since betrayed the majority of independent workers in the field.
LMAO cubed!
AMCs will be immediately abolished with all future orders going through the TNCH (Trump National Clearing House). Cha ching!
President Musk is willing to sign off on the change in exchange for 1/2 of all profits.
You’re watching too much television again. Take a break or at least change the channel.
Your hopes and dreams are futile. Having been an appraiser since 1984, I have striven to be as accomplished as possible with all of the required changes within this industry over the years, (“form improvements”, computerization requirements, software necessities, additional educational requirements, USPAP changes, as well as getting excessively “nickeled and dimed” on everything over the last 30 years. Some of my best years were after the 2008 collapse, wen some “appraisers” and mortgage brokers went to jail. It was taken seriously back then. I don’t remember a recent change within this industry that has supported appraisers. Sorry my friends, but we are in the “regulation business”, and this incoming administration and its supporters do not believe in any type of regulations, oversight, nor stewardship to protect the public
“When it’s your game, you make the rules, everything comes easy. All your friends are in key positions, so when you decide you don’t want to play anymore you never leave empty-handed. Can somebody say “golden parachute”? Well it’s not your game, you didn’t make the rules, so everything comes hard. As long as you’re signed to a contract, you’re going to take a minority share of the winnings. A select few of us will do well.” The majority will not. So as a people, we will be considered a minority. But let’s stop and take a moment to look at yourself. There is nothing minor about you. You are a blessed people. You’re the most talented on earth and you are still grateful. That is why upon winning in their game, you always think God. Tonight, I would like to ask one favor of you. Imagine what it would be like in our own game. Peace and love for one another.”
prince
The grown ups are back in charge.
Either way, it’s all moot. 85% of all current mortgages are under 5%. The yield on the 10 year and 30 year bond just went up, which means mortgage rates will follow. I retired last year and moved to Mexico. Before I deleted all my appraisal files, I did an analysis of percentage of refinances. 70%. That business is gone and it will not come back for a while.
the good news for all the old pale face male appraisers is…dei should put on the back burner now…hello TAF???
Meanwhile, Freddie Mac is going full steam ahead:
Coming Soon: Expanded Hybrid Appraisal Policy
In collaboration with Fannie Mae, we’re planning to expand our hybrid appraisal policy in Q2 2025. Look for more details in the February Single-Family Seller/Servicer Guide (Guide) Bulletin.
ACE and ACE+ PDR Expansion Effective Date Now February 24, 2025
We originally announced March 24, 2025, as the effective date for the expanded eligibility for automated collateral evaluation (ACE) and ACE+ PDR (property data report). However, the effective date is now February 24, 2025. The new effective date will also be announced in the February Guide Bulletin.
Learn more about our spectrum of collateral valuation options, get the latest insights from Freddie Mac experts and access valuable training and other resources. Visit our Collateral Valuation and Appraisal Resources webpage.
A sales agent told me that herself and other agents in her firm had been contacted by several amc’s trying to get realty people to perform PDC’s for $25 each, disclosing the service was for appraisers to use. They were confounded and said; We thought that was the appraisers job.
Want to know who’s going to be completing PDC’s? Well, I’m glad you asked. Door dashers. And it ain’t pretty, in fact it’s downright exploitative. They’re often doing these for $4-$10 dollars each and would see PDC service at $25 as quite the raise. I spent days reading this thread to learn what the heck was really going on with door dash and gig work.
https://www.reddit.com/r/doordash/
Business Insider
The hidden middlemen who cost homebuyers $12 billion — and counting
If you bought a home after 2009, your appraisal fee almost certainly included hundreds of dollars for a middleman you’ve likely never heard…
https://www.businessinsider.com/middlemen-homebuyers-appraisal-management-companies-expensive-hidden-fees-mortgage-loans-2025-1
this is what they call public trust…revaa is now a partner of taf…i cant stop laughing
The link you provided has a paywall or login wall. Readers; This link may work for you instead.
https://www.newsbreak.com/business-insider-562169/3748434625714-the-hidden-middlemen-who-cost-homebuyers-12-billion-and-counting
Additional article quote: An appraisal is a critical part of any home purchase or refinancing. Sound appraisals don’t just protect lenders from risky loans; they may also prevent consumers from overpaying and ending up underwater on their home , with more left on the loan than the house is worth.
Not according to FHFA . Couple that with the updated AVM final rule which requires lenders to use internally controlled black box avm’s, expansion of the waivers and hybrid program where everything under 98% LTV no longer requires full service appraisals.
This: https://www.fdic.gov/sites/default/files/2024-03/fil10082a.pdf
Pg 33 / 12. Appraisals Not Necessary to Protect Federal Financial and Public Policy Interests or the Safety and Soundness of Financial Institutions The Agencies retain the authority to determine when the services of an appraiser are not required in order to protect federal financial and public policy interests or the safety and soundness of financial institutions. This exemption is intended to apply to individual transactions on a case-by-case basis rather than broad categories of transactions that would otherwise be addressed by an appraisal exemption. An institution would need to seek a waiver from its supervisory federal agency before entering into the transaction.
NOT ANYMORE. Financial institutions, regulators, co opted appraisal trade groups wrote in every single allowance to bypass independent appraisals.
Article quote: Josh Tucker, an appraisal manager at a bank in Texas, has spent the past two years gathering evidence of the fee imbalance through a nonprofit he cofounded known as the Appraisal Regulation Compliance Council, which aims to root out fraud in appraisals.
https://appraisersblogs.com/appraisal-regulation-compliance-council-exposes-disturbing-amc-violations/
One of these days… Someone will train their AI with the non stop disclosure on this site… The article mentions scarce information on the matter. Want effective solutions? Uphold the original spirit of the DF RegZ rule on C&R billing and $10k/$20k recurring fines for every single instance of amc underpayment and billing fraud, and apply that retroactively as the CFPB safe harbor interpretation was part of this fraud that these companies lobbied and paid to implement in disregard for the spirit of the original rule making, which was to protect appraisers and consumers from improperly co mingled amc billing fraud.
Article quote: ‘They’re (the amc) aligned with the amc industry standards’. That does not matter, as the near entirety of the amc industry is a junk fee billing fraud industry. Being aligned with another criminals standards of operation does not justify the ongoing criminality and racketeering.
Meanwhile, CA lost another 82 licensed appraisers in the past 30 days. We have just fallen below 8000 licensed appraisers for the first time since licensing became a requirement in our state (early 1990’s). Do the math; that’s about a 1% decline in the appraiser population, in a single month. This trend is accelerating, and is now irreversible. As ever, the issue is compensation. If you pay people like a barista, they might as well become one. Less liability, and all the free mocha lattes you can drink.
I just confirmed the 7,996 Appraisers left in California. Be sure use the percentages graph according to licenses. Of the 7,796 Appraisers total, 4 317 (54%) represents Certified Res Appraisers and 2,558 (32%)General Certified Appraisers so the groups totals combined are 6,876 appraisers. 9% are licenses and 5 % are trainees. This is why appraisers need to have more licenses to sell homes as an agent or to make home loans as a MLO.
Looking at these numbers when the refinance hits my fees go up for nothing but the rush assignments. During Covid I received 40 requests a day to inspect properties for appraisal . So it could get busy again in 2025. Let’s see what happens.
Let’s take the analysis one step further. Three out of four licensed appraisers refuse to work with amc’s. Leaving 7796 ÷ 4 = 1,949 real estate appraisers, to provide appraisal safeguards for mortgage lending and consumer protection for the entire state.
So much for consumer protection regulations which required the full appraisal safeguard. 40 year loan modifications for borrowers in severely delinquent status are officially now a reality. So much for the generational wealth building argument. Consider the cash equivalent total payment for principal amount vs total interest paid on a 40 year. Compare that to a 30 year, a 20 year, a 15 year, or a 10 year. Research keywords; 40 year loan modification.
https://www.federalregister.gov/documents/2023/03/08/2023-04284/increased-forty-year-term-for-loan-modifications
“The proposed rule will promote financial inclusion and equity.” Because certain demographic groups have a higher propensity to lose their jobs or run behind on payments. Dang, I thought equity meant paying your loan down faster and building principal so one could refinance again with lower permanent payments and then either save more or contribute more to the general economy, be charitable with the extra flex cash. Our all in home mortgage payment is now lower than most peoples car payment as a result. Apparently equity in lending now means people paying more interest, for longer periods of time, with less principal pay down and permanently higher locked in loan to value ratios. Modernization! Equity!
And something about financial literacy and distorting the housing market. Well hell, don’t educate the people, or compel them to be more responsible in merit based systems for their own financial success and long term good, adjust the government programs to give them welfare and subsidies instead! Your tax dollars, hard at work.
As appraisers we are just about the ONLY party in the mortgage process who cares about a property’s true fair market value; realtors get all giddy when a listing contract to sell for 5-10% above listing price, the “lender” is extremely happy to overlend to anyone who can fog a mirror, extending a mortgage loan that may or may not reflect the home’s true fair market value, FannieMae/FreddieMac just love it when the loan amount is as large as it can get, all three of these parties do NOT make a cent unless the loan closes, that’s why appraisers are the bad guys. True fair market value? Who cares? Fannie/Freddie just pass the losses along to the taxpayer…US. I do about 2-3 preforeclosure appraisals a week in the area I cover, all are so far under water it’s amazing. In NY State it may take 3 years to actually foreclose on a property, in the mean time they just sit there deteriorating. I’m hoping to stick around another 5 years and then retire, I hope that’s possible, it certainly doesn’t look good at this moment.
My goal is to one day make it through one of Baggins comments from start to finish, but today is not that day. It can only get better under Trump, and I don’t have to worry about calling the master bedroom and master bath what the’ve been called for decades. Under Mr McGoo and couldn’t even say, comparable 1 adjusted 5% for location as it’s with walking distance to MBTA (train station) which is considered the main locational appeal, and worry that my verbiage is flagged by some DEI (didn’t earn it) algorithm!
A real estate appraiser whom can not make it through a page of reading? How do you navigate the ten thousand pages of regulation governing the appraisal process? Sounds like something a DEI hire would say.
I read where Biden refinanced his homes thirty six times and netted $6M. Does anyone know if this is factual? Sorry, I don’t have a source.
Now talk about Trump and him refinancing his properties.
https://www.forbes.com/sites/danalexander/2022/07/29/donald-trumps-great-escape-how-the-former-president-solved-his-debt-crisis/
Biden Administration To Probe Racial Bias In Home Appraisals
Domestic policy advisor Susan Rice said that since Biden’s first day in office, he has made advancing equity and racial justice a top priority across the entire federal government.
“This PAVE task force took that responsibility seriously,” said Rice. “We have a long way to go, but the steps laid out in this action plan will help our country reduce bias in home valuations, narrow the racial wealth gap, and deliver a stronger and more equitable future for all Americans.”
Jody Bishop, president of the Appraisal Institute, asserted in a statement that the nation’s largest professional association of real estate appraisers is committed to working closely with the Biden administration to ensure borrower understanding of the appraisal process and laid out its plans to address racial bias.
“We thank President Biden for releasing the PAVE task force action plan, which targets solutions to several challenging issues in appraisal and valuation, outlines appraiser and consumer education goals, and highlights programs aimed at diversifying the appraisal profession,” he said. “Our organization stands ready to work with the bank regulatory agencies, loan guarantee agencies, FHFA, CFPB, HUD and other stakeholders to develop a more accountable, actionable and efficient regulatory structure, particularly as it relates to the reconsideration of value (ROV) processes and procedures – an issue that cuts to the heart of many of the concerns recently expressed by borrowers of color.”
https://www.forbes.com/sites/brendarichardson/2022/03/23/biden-administration-to-probe-racial-bias-in-home-appraisals/
i dont know which is worse…kamala, AI, or the lying media
So… What does this mean for the appraisal profession? Image attached. (stack of executive orders)
DEI Will DIE: Govt Just Got Their DEADLINE (it’s hours, not days)
The government funded anti-White agenda, under the guise of DEI, is coming to a grinding halt.
And the deadline that President Donald Trump is giving government offices is Wednesday by 5pm.
That’s when DEI programs across federal agencies will be cancelled.
Employees working on DEI initiatives will be put on paid leave.
A memo from the Office of Personnel Management demands all DEI-related media, trainings, and contracts to be terminated.
The Trump administration on Tuesday ordered all federal employees working on diversity, equity and inclusion initiatives to be placed on paid leave as government agencies work to shutter DEI offices.
The Office of Personnel Management — the government’s top human resources agency – notified federal department heads in a memo that DEI program employees must be notified by 5 p.m. Wednesday that their administrative leave is “effective immediately.”
The memo further directs federal agencies to take down all “outward facing media” – such as webpages and social media accounts – focused on DEI programs, cancel all employee diversity trainings and terminate any DEI-related contracts by the same deadline
OPM also asked agency heads to ask “employees if they know of any efforts to disguise” DEI programs with “coded or imprecise language,” and to report back their findings on attempts to obfuscate the initiatives by Jan. 31.
Employees who do not report DEI programs that may have been renamed to skirt the Trump administration’s widely expected move to gut diversity, equity and inclusion initiatives may face “adverse consequences,” OPM warns.
https://100percentfedup.com/dei-will-die-govt-just-got-their-deadline/
https://appraisalfoundation.org/imis/TAF/Resources/Diversity__Equity_and_Inclusion/TAF/Diversity_and_Inclusion.aspx
hello TAF???
The anti merit based DEI incentive program infiltrated further than many realized. Just found this today. The people whom put this kind of research together never imagined it could be used as a road map to dial the activity back. / 500 ways the Biden-Harris administration infused dei into the federal government.
https://donoharmmedicine.org/wp-content/uploads/2024/10/Equity-Everywhere-Biden-Harris-DEI-Paper-1-1.pdf
Pg 55 for asc related disclosure.
“and terminate any DEI-related contracts by the same deadline”
Do grants count as contractual agreements in this context? If so..
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Check this image out, the FHFA removed DEI content. Their blatant lies about ‘appraisal bias’ are still present though, if you change the search term. Happened so fast, the search engines have not yet updated the indexes.
Please let them all get fired. Also these events may provide further insight why the frb and other institutions rushed through so much additional regulation recently. We’ll see if any of that gets rolled back.
Simply remarkable. Don’t hold out much hope for appraisers though. We come last and nobody cares.
Our Diversity, Equity and Inclusion Commitment
Empowering Individuals
Appraisal Institute empowers individuals and nurtures an environment that inspires and encourages diversity, equity and inclusion.
The valuation profession has a responsibility to achieve greater racial, ethnic and cultural diversity among appraisers. Recruiting for greater diversity makes us stronger and more representative of the communities we serve and contributes to greater cultural awareness.
We are committed to accelerating diversity, equity and inclusion (DE&I) initiatives and partnerships. Our efforts include the Appraiser Diversity Initiative in collaboration with Fannie Mae, Freddie Mac and the National Urban League; the Practical Applications of Real Estate Appraisal (PAREA) program; and our Minorities and Women Course Scholarship from the Appraisal Institute Education and Relief Foundation.
Creating a more equitable housing environment requires collaboration and solutions from all players in the field, from real estate brokers and agents, to banks, to government agencies.
Let’s work together to bring about positive change in the valuation profession.
https://www.appraisalinstitute.org/about/our-diversity-and-inclusion-commitment
Remarks by Vice President Harris in a Press Call on …
The White House (.gov)
https://www.whitehouse.gov › 2023/06/01 › remarks-b…
Jun 1, 2023 — Black homeowners are more likely to have their homes undervalued than other homeowners. And homeowners in majority Black and majority Latino neighborhoods are …
https://www.whitehouse.gov/briefing-room/speeches-remarks/2023/06/01/remarks-by-vice-president-harris-in-a-press-call-on-addressing-racial-bias-in-home-appraisals/
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