Charles has jokes!

Missing the IVPI Proposal yet?
https://www.workingre.com/wp-content/uploads/2013/08/IVPI-Proposalfinal.pdf

You are way off base with zero evidentiary support. No court cases to rely on, nothing but propaganda. It appears you have arrived with your own bias and no support. Do you have any? If so, can you provide it here for public scrutiny?

Baloney.

I learned of this occupation when my wife and I did a refi on our home. When we originally bought it was from a friend who financed for us. I took the classes and passed all the tests. I went to several appraisers before I got hired on as a Trainee. I took CE classes plus additional classes over a two year period. When I passed all tests I became a Certified RE Appraiser. No family connections or friends to pave the way for me. That was just over 24 years ago. I have had several Trainees over the years. Whites and Blacks. Male and Female. I paid them based on the percentages I got as a Trainee. I have nothing to be ashamed of. I do straight up honest appraisals on every assignment.

appraisers are way too busy preparing home appraisals at low fees and ridiculous turn times to keep up with the injustices unfairly dump on the appraisal profession. Nothing new……..the beat goes on.

eliminating waste is a good thing…if trump was serious about reform, he would destroy k street…the gses are cash cows for the dc swamp…all the cards are stacked….against the appraiser…they call it appraiser independence…this is not a conventional war…and appraisers are losing…this place needs a laughing emoji

Couldn’t agree more. No representation by any party interested in protecting the profession. It’s our own fault. We’re too damn independent for our own good to unionize.

Appraisers are virtually unrepresented. A consequence of the long term failures of the taf and asc to do their jobs properly. That’s your political tie in.

For all these years, not enough people been paying attention to the written rules. They’ve been too busy keeping up with a never ending stream of new rules for appraisers and changing standards constantly piled on by gse’s.
https://appraisersblogs.com/appraisers-freed-from-dei-propaganda/comment-page-2/#comment-44510

‘While the funds come directly from fees, these monies are considered federally appropriated funds for the purposes of ASC’s federal grants management practices.’

Federally regulated funds. There have been certain standard rules which have always been applicable. They have not been followed. Including right now as DEI material is still up on these orgs websites.

This appears to answer the long standing argument and question; Is TAF and ASC subject to certain rules, and are they private or government organizations? Follow the money. Define the money. Federally regulated funds.

ASC is supposed to be responsible for TAF oversight as a condition of continued grants access as well as their enjoyed congressionally approved status. A myriad of federal rules apply. The oversight is lacking. The core missions not being fulfilled. The money misappropriated. The Hatch act. Fly America act. Lobbying rules. Research misconduct. Conflicts of interest provisions. Whistleblower protections.

Title XI FIRREA
https://www.millersamuel.com/files/2020/08/Title-XI-as-amended-by-EGRRCPA-12.2018.pdf
b) Threshold level. Each Federal financial institutions regulatory agency and the Resolution Trust Corporation may establish a threshold level at or below which a certified or licensed appraiser is not required to perform appraisals in connection with federally related transactions, if such agency determines in writing that such threshold level does not represent a threat to the safety and soundness of financial institutions and receives concurrence from the Bureau of Consumer Financial Protection that such threshold level provides reasonable protection for consumers who purchase 1–4 unit single-family residences.
(c) GAO study of appraisals in connection with real estate related financial transactions below
the threshold level.
(1) GAO studies. The Comptroller General of the United States may conduct, under such
conditions as the Comptroller General determines appropriate, studies on the adequacy
and quality of appraisals or evaluations conducted in connection with real estate related
financial transactions below the threshold level established under subsection (b), taking
into account—
(A) the cost to any financial institution involved in any such transaction;
(B) the possibility of losses to the Deposit Insurance Fund or the National Credit
Union Share Insurance Fund;
(C) the cost to any customer involved in any such transaction; and
(D) the effect on low-income housing.

2) Reports to Congress and the appropriate Federal financial institutions regulatory
agencies. Upon completing each of the studies referred to in paragraph (1), the
Comptroller General shall submit a report on the Comptroller General’s findings and
conclusions with respect to such study to the Federal financial institutions regulatory
agencies, the Committee on Banking, Finance and Urban Affairs of the House of
Representatives, and the Committee on Banking, Housing, and Urban Affairs of the
Senate, together with such recommendations for legislative or administrative action as the
Comptroller General determines to be appropriate.

Question; Did the CFPB approve FNMA’s expansion of the waiver program? Where is the GAO studies for points A-D?

Fannie Appraiser news;
To increase appraiser efficiency and capacity, we’re expanding our hybrid appraisal policy option. Hybrid appraisals utilize a third-party property data collection that is provided to the appraiser for the completion of an appraisal using appraisal Form 1004 Hybrid or Form 1073 Hybrid.

Hybrid appraisal property eligibility will align with traditional appraisals except for the following exclusions:

2-4 unit, co-op, and manufactured home properties;
Construction to Perm, HomeStyle® Renovation and HomeStyle® Energy Loans; and
Proposed construction.
This expansion aims to reduce loan origination cycle time for borrowers.

Effective: This change is effective March 22, 2025.

https://www.fanniemae.com/newsroom/fannie-mae-news/fannie-mae-announces-changes-appraisal-alternatives-requirements
‘Value acceptance’. Expansion to waiver programs.

GAO financial audit FHFA 2023-2024
https://www.gao.gov/assets/gao-25-107454.pdf
pg 51 / They glossed over the entire issue and just rubber stamped FHFA’s actions, including the Tech Sprint event! The entire tech event was based on the premise appraisers are biased and they wanted to code in avm peramiters to eliminate appraisers to eliminate ‘disparate valuation outcomes based on race and ethnicity’. That same exact language now resides in the avm final rule. The GAO report and oversight appears to be meaningless, they auto approved everything.

pg 52; Division of Public Interest Examinations In April 2024, FHFA announced the creation of DPIE to centralize the Agency’s supervisory activities in the areas of affordable housing, community development, diversity and inclusion, consumer protection, and fair lending

Research keywords: FHFA announced the creation of DPIE / Actual FHFA page results get ‘denied access’ returns, presumably content removed via DEI executive order. However, news articles remain online.
https://themortgagepoint.com/2024/04/30/fhfa-forms-new-division-of-public-interest-examination/
James Wiley… That’s your guy right there. Found him. Appraisers take note. FHFA fair lending oversight. CFPB senior counsel. HUD office of general counsel and fair housing enforcement division. Instructor for the NFHTA national fair housing training academy. Appraiser complaints…

FHFA issues final rule on The Federal Housing Finance Agency (FHFA) has released its Fair Lending, Fair Housing, and Equitable Housing Finance Plans Final Rule, together with the Fannie Mae Equitable Housing Finance Plan update and Freddie Mac’s Equitable Housing Finance Plan update, as well as Performance Reports for both Fannie Mae and Freddie Mac for 2023.
https://themortgagepoint.com/2024/04/29/fhfa-releases-its-fair-lending-final-rule/
Click the links! Page not found. Page not found. Page not found. Page not found. Page not found. Five in a row, all FHFA direct reference links! Gone!

Yet the appraisal industry is shuttered due to these rules. The AVM final rule incorporated the DEI narratives. The entire GSE apparatus pertaining to independent appraisal requirements has been altered and abolished due to DEI based narratives and prerogatives. If anyone had any doubt that appraisers careers have been purposefully sidelined and decimated due to the effects of DEI policy making at the very top levels. So when does the Comptroller General GAO office actually do it’s job? When do the GSE’s roll back their expansion of waiver programs? Who will correct the mishandling of the appraisal industry, which GSE’s had to follow, because of now discredited FHFA narratives and directives?

Related Tech Sprint research. National Consumer Law Center / Appraisers are not the only ones questioning the integrity of AI machine learning algorithms.
https://www.federalreserve.gov/SECRS/2021/July/20210708/OP-1743/OP-1743_070121_138207_376771404970_1.pdf
C. More research is needed to understand the disparate impact of automated valuation models (AVMs) in real estate financing. / Real estate finance depends on reliable appraisals. Property valuation is done with computer software, either exclusively or in conjunction with a visit to the property. The software, called an automated valuation model or AVM,64 is based on data from traditional appraisals, public records, and private vendors.65 Federal law requires lenders to use a state licensed or certified human appraiser,66 but an exception to that law covers over 80% of home sales by aggregate dollar volume.67 / Consumers depend on accurate valuations. An inaccurate AVM can overvalue or undervalue a property, creating serious, practical consequences for homeowners and buyers. As the Federal Housing Finance Administration observed; inaccurate data may lead to an appraisal waiver on over valued property (data cancer). / Problems with the data fed into AVMs makes them less accurate. The history of housing and residential mortgage lending in the United States is riddled with racial discrimination. Some argue that AVMs will be free of bias if the data points do not include race.72 But that ignores the fact that AVMs are trained on data that has, itself, been shaped by race. (references the AEI Tobias report). / Financial institutions? use of AI and machine learning models may lead to unlawful discrimination and abusive practices in the credit process, including in underwriting, pricing, and credit decisions. Machine learning, the most powerful form of artificial intelligence, heightens this risk because it makes non- intuitive connections using large volumes of data that result in decisions that may not be readily understandable or explainable in an adverse action notice.

FHFA; Pg 22 / 2. Address appraisal bias and valuation equity, including by implementing the Property and Valuation Equity (PAVE) Task Force action plan;
https://www.fhfa.gov/media/51621
the PAVE government site is no longer. Yet the policies persist… If this is not enough proof, what is?

As always Baggins – you have great posts. I am one who has been forced out of business due to the lack of work and low fees. My software bill is due in April – last year I put it on a credit card that still hasn’t been paid off. Also added the MLS membership afterwards, and then the E & O. I suspect I will be out of business by April as I’m not doing that again. As for all this bias crap, I’ve been in the business for nearly 24 years, started at 30% for 3 years, and did it on my own. Had a hard start as I was pregnant at the time with my 3rd child – took months to find a mentor. Life situations insisted that I work for a living, and female appraiserrs weren’t very common then. Met a lot of “good old boys”, but so what. My mentor was a “good old boy” who decided to give me the chance – an ex-cop. I had just gotten certified and building my business when HVCC hit shortly thereafter – worked a rural FHA for $200, with over a 100 mile trip. I didn’t have a choice as I was now a single parent with 3 kids. I would have been glad to hire a trainee – no matter what ethnic background – if I had enough work and pay to do so. You are so spot on with the AMC companies which have progressively gotten worse in terms of trying to find multiple ways to keep the appraiser out of the equation. In relation to this supposed bias – I’ve had many “minority” customers and would never consider that factor in my appraisal work. It is the AMC companies directly that have destroyed our profession. Banks also have their appraisal departments and do the same thing – charge the homeowner a higher fee and expect us to work for less. I had a customer – from a bank appraisal – ask me why his appraisal cost over $1000. We’re not allowed to discuss fees expressly, but I found some way to convey that I wasn’t getting that fee (perhaps they had other charges rolled into it…..). I’m still fighting for this profession even though I realize my professional demise is inevitable. I’m not even making enough to cover basic living expenses.

Given his rapid rate of change to existing programs and the dismantling of many federal departments, we will most likely see. If history is correct, deregulation will not help but who knows maybe we can trust the bankers this time around.

Neal and fellow Urban Institute researchers have previously published research showing that deep discrepancies in mortgage lending lead to stubborn disparities in wealth. In 2023, mortgage applications from Black borrowers were denied twice as often as those from white borrowers. As of 2024, the Black homeownership rate was 45.3%, a whopping 30 percentage points below that of white households, at 74.4%.

https://www.msn.com/en-us/money/realestate/trump-s-plan-to-free-fannie-mae-and-freddie-mac-might-change-housing-market-for-the-better/ar-AA1z8Z2m

that is right…the banksters approve or deny loans…not the appraiser…heck i don’t even know the loan amount and number hitting is a violation of law…now go away crn shilly shill shills and take your forked tongues with you

Not if you provide and fee quote to cover your potential liability in those areas. Additionally, the percentages are on your side that you never will. There have less than 10 appraisal assignments that have been placed in media attention over the past 10 years. In most cases it was an issue of appraiser competence and not of racial bias.

There are many highly complex properties that I have a much higher quote for, not because I have learn more in order to do it, rather it is going to be a pain in the butt and the I know the owner is a self serving indulgent that thinks there house is the best thing since slide bread; therefore I supply at $2500 rate quote. If they want to pay that, then I’m comfortable accepting the assignment and said risk.

Appraisers will get sued for discrimination for NOT accepting appraisals in those type of markets.

The PTB will then double down on DEI and hiring for anything that moves that is not an old white man to appraise these properties.

Gotta keep pushing the narrative.

Admin tried that. Some posters were getting downvoted so much their comments became invisible with this click through to read thing which is an option for these types of websites. Did not work, so only upvotes. Admin actually puts in a ton of work to keep this site going the way it currently works. Paid thousands upon thousands year over year of personal money to keep this moving.

Nepotism is not happening in the appraisal world. The term describes something more akin to political dynasties or unearned promotions to family members in large companies. Something not even possible for most appraisers or appraisal firms.

This is what makes the third party management such as the amc industry so extra ordinarily damaging and nefarious when applied to appraisers. They’re not sharing with corporate or taking advantage of scale. Rather driving small business under with ruthless profiteering, restriction of trade, and racketeering type approaches.

Post this again I suppose. The cartoonist was capturing the issue with one state requesting appraisal waivers. But really the message is more applicable to the amc industry for the entire country. The cartoonist was referring to the perspective of lenders appealing for waivers. But what was really happening is the lenders were not calling appraisers trying to discount shop, it was their amc agents whom were calling and insisting on discounting, then despite an available appraiser workforce, they refused to pay market rates for the service.

It’s just important to clearly and accurately describe the issues. Nepotism is not an accurate description for what has been happening.

If not for the constant reduction in appraisal volume, this industry could right now support 200,000+ licensed appraisers, rather than the GSE load only supporting 40,000, of which the majority are now virtually unemployed. Courtesy of; rising demins, waivers, hybrid work products, the avm final rule, profiteering amc companies, pdc’s, the separation from loan production rule. Remember 1099 PIR’s that paid $250 each for a two page report? Standard minimum fees enforced by FHA at $400+ in the 1990’s? Amc’s captured that market. PDC’s do the job for $25 each now a days. Pass all the risk back to the taxpayer.

Mark I’m not mad but sometimes I wonder why I’m even still bothering. Trying to save a pretty silly job lately, a dead end one at that.

Home inventory highest, demand lowest in five years, report finds.

Last month brought the highest housing supply since January 2020. But buyers aren’t biting, feeling economic uncertainty and perhaps – as some sellers also do – that home prices could be at a peak.

According to a report released February 13 from real estate brokerage Redfin, last month saw the highest home inventory nationally since 2020 – and simultaneously the lowest buyer demand, as mortgage rates hit a monthly average of 6.96%, up 0.24 percentage points compared to December and 0.32 percentage points from a year earlier.

“Economic fears have been top of mind for people. I have sellers saying, ‘I think we’re at the top of the market – I’m ready to cash out and put my money into another investment,’” stated Charles Wheeler, a Redfin agent in San Diego, California, in a release.

Homes sat on the market for an average of 56 days before selling – the longest of any January in five years. And, “it’s worth noting that price growth is roughly back to where it was before the pandemic, growing 4%-5% a year, as opposed to the double-digit increases seen in 2021-2022,” according to the report.

Thus, thanks to that home price appreciation, it costs a good deal more now to buy the same house than it would have back then in 2020.

https://nationalmortgageprofessional.com/news/could-home-price-gains-be-past-their-peak

who are they going to blame this time…the appraiser

No Baggs, don’t be so touchy. Didn’t intend to strike a nerve. I’m not criticizing. I’m just stating a fact of life. In my market area and with 39 years in the business, nearly every fee appraiser I’ve met was born into the business or got in through a friend (including me). A handful came from county or state agencies but even they had contacts. You don’t see hiring fairs or job postings for fee appraisers. We hire from within. We hire people we know. It’s given our critics unjustified fodder.

‘Nepo hires.’ That’s the new liberal slander for ‘family businesses’. They’re really reaching deep lately with innovative trolling.

And the word is totally not applicable to the appraisal industry. You think we’re getting special favors and insider connections, lofty promotions because our parents manage anything? Most of our parents or family, if we came into the industry through those avenues, are long since busted out and bankrupt.

Mark Hastert. Nepotism for independent 1099’s who earn less than fast food workers and are actively discriminated against by both private industry and government? Where do you come up with these wild ideas? When a father and sons moving truck drives by on the road do you spill your coffee and start cursing every time? Good ole boys? Like Mississippi and the south or busing or what exactly does that mean? Show me where this mythical good old boys network actually exists, because I’d like to perhaps swing by to check things out. Like phone a friend or something. And why did you spell it with an ole instead of old? I don’t have time to chase down all this innuendo. Let’s post a counter meme instead. You could at least try to be creative if you’re going to post here. Thanks.