Author: Guest Author

Fannie Mae’s Conservatorship: A Babysitter’s Blunder 35

Fannie Mae’s Conservatorship: A Babysitter’s Blunder

Calling the FHFA a babysitter for Fannie Mae doesn’t fully capture the dysfunction.  What the general public doesn’t understand is that Fannie Mae has been under conservatorship since the 2008 market crash — a status far from ideal, just one step from bankruptcy. By definition, a conservatorship is a legal arrangement where a court appoints a conservator to manage the affairs of an entity unable to do so itself, due to financial distress or other incapacity. It’s a polite term for babysitting an organization that can’t handle its own affairs. A Babysitter Who Sparks Chaos Calling the Federal Housing Finance...

Appraisal / Appraisal News / Appraisers News / CFPB / Consumer Financial Protection Bureau / Fannie Mae - Freddie Mac

A Cry from the Appraisal Trenches: The Fall of GSE Oversight 75

A Cry from the Appraisal Trenches: The Fall of GSE Oversight

That could bring our best and brightest back to GSE lending, leveling the playing field with fairer work distribution.  Picture this: a system built to protect homeowners, backed by taxpayer dollars, now teetering on the edge of betrayal. The regulatory framework governing Government-Sponsored Enterprises (GSEs) was once a fortress of consumer protection, transparency, and fairness. As an appraiser, I’ve watched this fortress crumble. The rules imposed on GSEs and their partners—our trade-off for their congressional charter—have been chipped away through years of cunning maneuvers by trade groups and stakeholder interests. What’s left is a hollow shell, far removed from the...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Automated Valuation Models

Hybrid Appraisals - Flawed Data or Flawed Agenda? 55

Hybrid Appraisals – Flawed Data or Flawed Agenda?

Brian Zitin’s self-serving interpretation of Reggora’s survey results on hybrid appraisals is a textbook example of twisting flawed data to fit a preconceived flawed narrative. He triumphantly proclaims that 60% of appraisers plan to perform hybrid appraisals, painting it as some groundbreaking shift in the industry. But the reality is far more nuanced and less flattering to his agenda. “Our main question to appraisers: Do you plan to perform hybrid appraisals? The result was a 60/40 split with 60% saying yes they will! That is quite the controversial result and indicates a lot more education and effort will need to...

Appraisal / Appraisal News / Appraisers News / Trending

Realtor Fined $10,000 for Impersonating an Appraiser 46

Realtor Fined $10,000 for Impersonating an Appraiser

Impersonating an Appraiser – The Costly Consequences of Playing Dress-Up in Real Estate.  Being an appraiser isn’t for the faint of heart. The job requires thick skin, a strong moral compass, and an unwavering commitment to impartiality. There are times when you have to stand your ground, even when clients plead with you to sway the value. Sometimes, the market tells a story that’s not what people want to hear. Whether it’s a low appraisal for a refinance or a high one for a divorce, appraisers have to stay true to the facts. No matter how much pressure is applied....

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Trending

Class Action Lawsuit of Targeted Appraisers 36

Class Action Lawsuit of Targeted Appraisers

Join me in this class action lawsuit and help take a stand against HUD and the wrongful persecution of appraisers.  Nationwide Call to Action: Seeking Legal Representation for Class-Action Lawsuit Against HUD Investigations For over two Years I have been subjected to systemic abuse, unwarranted investigations, and procedural violations at the hands of the Department of Housing and Urban Development (HUD). My name is Kenneth Mullinix, and I am an experienced VA-approved appraiser who has been targeted in a series of baseless investigations that have severely damaged my career, reputation, and personal well-being. Despite being cleared by other authorities after...

Appraisal / Appraisal News / Appraisers News / HUD / The US Department of Housing and Urban Development / Trending

County Assessors' Standards - AVM Final Rule Guidance 16

County Assessors’ Standards | AVM Final Rule Guidance

County Assessors have the advantage of being able to calibrate their models specifically for one market, allowing for a more tailored and precise approach.  The OCC, FDIC, NCUA, CFPB, and FHFA (collectively, the Agencies) are adopting a final rule to implement AVM quality control standards mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The quality control standards apply to mortgage originators and secondary market investors in determining the value of a dwelling that is the collateral for mortgage financing. Under the final rule, institutions involved in specific credit decisions or securitization activities are required to...

Appraisal / Appraisal News / Appraisers News / Automated Valuation Models / AVM / CFPB

Reforming the Appraisal Review Process: The Illogical Reality of Mortgage Appraisal Reviews 27

The Illogical Reality of Mortgage Appraisal Reviews 

Reforming the appraisal review process is essential to maintaining the integrity of the real estate market and protecting consumers and homeowners.  In mortgage financing, the appraisal process is often seen as the foundation of accurate property valuation and market stability. However, beneath this façade of reliability lies a troubling rift: while real estate appraisers must navigate stringent licensing protocols and scrutiny, the individuals reviewing the appraisals often operate with minimal oversight, instead leaning heavily on automated systems and algorithms. This stark disparity not only undermines the credibility of the review process but also revives the threat of past missteps, once...

Appraisal / Appraisal News / Appraisers News / AQB / Automated Valuation Models / AVM

CFPB | Bureau Crackdown: Unfair Practices Hurting Consumers 23

CFPB Crackdown: Unfair Practices Hurting Consumers

Bureau is currently investigating various fees associated with obtaining a loan, with the goal of identifying any that may be particularly burdensome or concerning for borrowers. As we all know many AMCs are not paying Customary & Reasonable fee as required by TILA. They have consistently pushed down the pay of Appraisers while making undisclosed profit off consumers and prioritizing cheapest and fastest over quality and competency. The CFPB has been in communication with individuals behind the scenes and are concerned with what has been shown enough to include AMCs in their data collection process. Now is the time to...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / CFPB

Appraisal Fees & Value: Lessons from Picasso & Steinmetz 26

Appraisal Fees & Value: Lessons from Picasso & Steinmetz

Picasso answered “$5,000 madam.” “But it only took you five minutes.” “No, madam, it took me my whole life.”  The Appraisal Institute has been a source of frustration and criticism within the appraisal profession for quite some time. I must admit that I have also expressed my dissatisfaction with them. Nevertheless, I must acknowledge that the new CEO, Cindy Chance, appears to be a positive change and is making some valuable points about our profession from her new position. In particular, she recently discussed appraisal fees in a piece she wrote. In this excerpt, she shares two stories that provide...

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

The One-Mile Rule: Prudent Policy or Modern Day Redlining? 8

The One-Mile Rule: Prudent Policy or Modern Day Redlining?

…whether through redlined maps or implicit “one-mile rule,” the result can be undervalued properties in historically marginalized neighborhoods.  Throughout the history of mortgage banking and lending in the United States, underwriting policies have significantly influenced the appraisal process for home purchases and refinances. Appraisers must follow underwriter appraisal review guidelines meticulously to ensure their appraisal reports are accepted by the lender. Unfortunately, in the past, these policies became the basis for redlining, wherein certain communities were systematically denied access to mortgage credit. In this article, we delve into the historical context of underwriting policies and their influence on the appraisal...

Appraisal / Appraisal News / Appraisers News / Automated Valuation Models / AVM / Collateral Underwriter

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