Comments on: Cobra’s Favorite Target is TAF Dave Bunton

By: Realrose

Realrose — Thu, 17 Sep 2020 17:17:20 +0000

I am currently reading Jeremy Bagott’s book, Dispatches from the Cosmic Cobra Breeding farm. It is excellent. One question I have is why does the AI have Scott de Basio as a lobbyist? He has no experience in appraising. I researched his political background; in Maryland he ran for a local office on the republican ticket but failed; he also failed to raise even one dollar for his campaign. He has been ineffective in defending the position of appraisers and I question the AI’s value when they have selected a guy like this to represent the organization and appraisers. Another question: Why did it take a Brit to write this book? Probably because appraisers are trying to survive and don’t have time to follow all these ways USPAP is revised, and how it is “incorporated into the Federal Register”, but we have to pay $75 bucks every 2 years when we take the course update, so TAF is a “non-profit”, quasi governmental agency that is actually making tons of money off appraisers! Sound familiar? Data providers, software companies and so many products to purchase to stay in business, not counting the E&O insurance and because of a copyright, it is not available online when they publish, but we can go to WDC and read it and take notes. I am sure our comments on proposed changes are not even considered, they just make a new rule to cover their fat asses!

By: Kevin A Byrnes

Kevin A Byrnes — Wed, 26 Feb 2020 17:46:44 +0000

TAF’s 990 for 2016 shows Bunton’s base compensation at $260,000, total at $343,754. 2015: $260,000 base, $345,696 total. (Freely accessible via propublica.) Seems like reasonable comp to me.

The Illinois Department of Central Management Services requires the MAI designation to win a bid for appraisal services; I’m not sure about other agencies. I don’t think this is due to direct influence from AI as much as it is a reflection of old practice. I’ve done a number of appraisals for private parties pursuant to a “baseball” arrangement where the controlling document, sometimes drawn up many decades before, called for an MAI. It seemed clear to me that this was the code word for “commercial appraiser” in the mind of the attorney who had drawn up the document.

It does seem as if TAF has experienced some mission creep over its history, and this may be part of the reason for the tension with AI. Full disclosure: I have the MAI designation and was president of the Chicago Chapter in 2018. When it comes to these allegations about motives and conspiracies, I like Pontius Pilate’s line: “What is truth?”

Keep the blog rolling–it’s always a fun read!

By: Retired appraiser

Retired appraiser — Tue, 28 Jan 2020 05:00:46 +0000

USPAP is constantly being updated to churn CE fees. Does that surprise anyone?

By: ej

ej — Tue, 28 Jan 2020 04:24:56 +0000

One thing is for sure. TAF, the AI, the AMC cartel and the corrupt lenders are all getting filthy rich. While the working boots on the ground’s appraiser are homeless!

By: dale bailey

dale bailey — Mon, 27 Jan 2020 18:01:04 +0000

The Book is not a investigative news piece, Reeva is a business model, AI is the representative of a specific sector of Appraisers, and TAF is a non biased entity for the public good that standardizes appraisal practices, with Mr Bunton leading the way. Mr Miller points out his take on the book, Mr DiBiasio explains minor legal details in correction.

I have met all but the Author, and those that I met and know, all represent what they believe is in their professions best interest. I do not know the author so I do not know what his best interest is in the book. IF it is too sell copies and get rewarded, then this cage rattling has given him his bonus. If it is to seriously engage appraisers and the public, then he got them interested at first but lost them after the full story was expanded upon.

IF all we have to worry about is changing USPAP every two years, then we are very lucky indeed to have TAF batting for us. If Mr Buntons Salary is of concern, review all researched documents on incomes for people in his position in DC for Non Profits and see if he fall in the middle of the road for compensation. If we have more to worry about, then we better get to it and tackle the larger issues at stake.

Just my take

By: Cotton

Cotton — Mon, 27 Jan 2020 17:29:27 +0000

I gave up on AI a long time ago. They are clearly corrupt and in bed with REEVA. Both of these organizations are actively destroying the appraisal profession and ultimately harming public trust. There needs to be a in depth government investigation into both AI and REEVA. I have never met 1 single appraiser that approves of either AI or REEVA. Our money is what keeps these organizations going. Time to boycott both. REEVA and AI are leeching of our entire profession with not one single benefit to the appraiser. I along with every other appraiser consider these organizations and the people who run them to be the scum of the earth! Stay wake!

By: Scott DiBiasio

Scott DiBiasio — Mon, 27 Jan 2020 15:39:41 +0000

Mr. Miller is incorrect when he says, “This work is now illegal under FIRREA to select someone with private designations over someone without, but still the efforts for things like branded AI classes have been attempted to be pushed into law.”

The FIRREA “Prohibition on Discrimination” applies only to transactions regulated by one of the federal financial institutions regulatory agencies – mortgage lending transactions.

The assignment to which the author references do not fall into this category. FIRREA has absolutely no application to the types of assignments that the author references.