Category: NAR

June 21, 2021

Racial Bias Narrative to Remove Appraisers

…the racial bias narrative will be what is utilized to remove appraisers from the lending equation… Removing us will finally put the FOX completely in charge of the HEN HOUSE…this entire narrative could very well end up costing us all, our way to make a living… Unfortunately, Professional Appraisers have no organized voice and I don’t see that we ever will. There is no one to defend us. And that has been used against us for years. After all that Appraisers have been through over the last 15 years, the racial bias narrative and the allegations of racial discrimination in...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

March 12, 2021

Train Us and Trust Us

The most weighted technique in most automated valuation programs comes down to one over-simplified formula, based on a guesstimation from an outside source that has no interest in the real estate system… Dear FHFA: Please accept the following comments in regard to Question A1.4. The response also includes comments on several additional questions. Thank you for taking the time to review these thoughts. Technology has made so many improvements in the last decade and we now have the chance to truly improve our home valuation system. With that being said, the last piece of the quality puzzle starts at the...

AMC / American National Standards Institute / ANSI / Appraisal / Appraisal Management Companies / Appraisal News

November 11, 2020

Biden Calls Out Racial Bias Among Appraisers

To counteract low appraisals in minority neighborhoods, Biden says he’ll push for training to address racial bias among appraisers… Appraisers, you might want to “take a gander” at this article in the link below, because it indicates possible/probable changes coming. I especially like the ‘extra training for appraisers’ to avoid discrimination/racial bias. Not. In other words, appraisers are at fault for lower values in certain neighborhoods which are not as highly valued as others, and so we must be indoctrinated to be more sensitive. Buckle up folks, as it’s going to be an interesting ride. Excerpt from Biden Admin and...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / NAR / National Association of Realtors

August 10, 2020

Another ‘Pile on Appraisers’ Diatribe?

The National Association of Realtors held their “Virtual Appraisal Summit” on Aug. 5, 2020, focusing on ‘fair housing and the appraisal industry.’ We were fortunate to have Craig Morley, President of the National Association of Appraisers, represent us appraisers, but his presentation was only scheduled for 15 minutes. I’m hoping when he sees this message, he will provide more info about his presentation and the outcome of the “Summit.” Craig’s presentation had the title: Abilities and Limitations of Appraising Real Estate Under Today’s Rules Craig Morley, Managing Partner, Accurity Valuation/Morley & McConkie, LLC I’m just hoping that this Summit was...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / NAA / NAR

February 21, 2020

GAO to Investigate Appraisal Loopholes

…Arizona is seeking damages and penalties against CoesterVMS… GAO has agreed to complete the study… Maxine Waters and Congressman William Lacy Clay requested a formal study/investigation into Title XI (FIRREA) and the recent dilution of its intent by the Federal Agencies. VaCAP has learned GAO has agreed to complete the study. The Network of State Coalitions has sent the following to their state members: This is the result of so many voices – the Foundation, ASA, coalitions, NAR, etc. Our Network efforts have given us an inside connection that hopefully we can continue to build on. Our meeting in DC...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

February 13, 2020

FIRREA Under Attack!

…the federal agencies charged with implementing Title XI of FIRREA have taken steps to limit the number of transactions for which an appraisal is required… Congresswoman Maxine Waters and Congressman William Lacy Clay request a formal study/investigation into Title XI (FIRREA) and the recent dilution of its intent by the Federal Agencies. The letter to Gene Dodaro, Comptroller General, Government Accountability Office, addresses threshold increases, regulatory exemptions, appraisal waivers, the North Dakota appraiser certification waiver and evaluations in lieu of an appraisal. It is clear the Chairwoman of the House Financial Services Committee and Subcommittee Chairman on Housing, Community Development and Insurance...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisal Subcommittee

NAR Adopted a Policy on Bifurcated Appraisal Products - Appraisers Blogs

November 13, 2019

Bifurcation Policy Adopted

By no means are we promoting bifurcated appraisal products… “Credible valuations of real property are critical to the health of the overall real estate industry; therefore the practice of bifurcated/hybrid appraisals must be regulated” There has been lots of talk over the past few weeks about bifurcated appraisal products. First came the announcement form Working RE Magazine they were conducting a survey on bifurcated appraisal products. VaCAP recommends every appraiser complete the survey if you have not done so already. Next came rumors that Mark Calabria, Director of FHFA stopped all pilot programs which included bifurcated appraisals and appraisal waivers. Working RE Magazine published an...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Federal Housing Finance Agency / FHFA

July 25, 2019

Major Threat to Real Estate Agents

Appraisers, in case you are not aware, NINE law firms have begun the process to sue real estate agents and brokers across the US about how the commission process works to compensate the SELLING broker. It is believed that three of the best known internet based property purchasing and selling web sites are behind this effort. It’s being done so that they can build their own businesses, while jeopardizing the livelihood of real estate agents and brokers. The suits allege that there is collusion and racketeering among the real estate participants to ‘bake in’ a set commission for the selling agent...

Appraisal / Appraisal News / Appraisers News / NAR / National Association of Realtors

June 18, 2019

Honesty in Real Estate

Stop unfair, deceptive, and abusive iBuying tactics. Consumers are being mislead into believing that heavily funded real estate iBuying platforms are cheaper and easier than using a Realtor. Sign and Share this petition demanding that there be clarity for consumers on these deceitful iBuying platforms. Click HERE. Summary: Real estate agents, and the buyers and sellers they have faithfully represented for decades, are under threat from a small number of technology companies looking to disrupt the real estate industry. This movement began back in 2004 when companies like Trulia and Zillow were formed, and has recently neared a tipping point...

Appraisal / Appraisal News / Appraisers News / NAR / National Association of Realtors / Petition

May 28, 2019

DOJ Goes after CoreLogic!

If the DOJ investigation proves fruitful, it is possible appraisal data could be investigated as well… The Department of Justice has sent a Civil Information Demand (CID) notice to CoreLogic. The CID requires CoreLogic turn over documents and answer questions. The article by Rob Hahn explains that the case revolves around not only the search features of the MLS systems, but the contracts and agreements on the use of MLS data by CoreLogic. If this investigation proves fruitful, it is possible appraisal data could be investigated as well. If this is the case, it will be a fast rolling snowball...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News