A year later a letter was received from DPOR with the same Fannie Mae complains…. waiting for the results.

I was told by DPOR that there is an influx of complains against the appraisers.

Previously I called Fannie Mae, an administrator answered, and couldn’t give any information how can I complain against the complains, who can be called or emailed with my questions. I felt a huge government construction standing in front of me without windows or doors…. deja vu?… welcome to the communism…

Hi I just got word today that Fannie Mae put a complaint against me – first time in 24 years. In reading these comments, am I understanding correctly that you are not allowed to appraise if you have a complaint filed against you??

I called them. They knew NOTHING! Told me to call their legal team..they would know
Clueless!

Also, I am asking all of you who were accused to send your thoughts to your license agency: to your State Appraisal Board. In VA it is DPOR, The Appraisal Board. (I do not know all the states function as an immigrant, still confused.)

If you leave, let the Appraisal Board know why you are living. Just to do a good for this profession once you loved so much.

Please!

What’s funny, is that in peoples delusional state of mind, somehow they perceive themselves as insulated. Use banking services much? What about cash? Any family ties whom may one day need lending services? That upset feeling in your stomach is the pending realization you’re part of this system too. Did you ever wake up one day and say to yourself; today is a great day to join a cult? Keep on laughing there, chuckles.

https://www.zerohedge.com/markets/financial-crisis-already-here-us-banks-are-closing-100s-branches-and-laying-1000s-workers

Some agents seem to think their days are numbered due to pending automation as well. Like most agents unaware what’s just around the corner for them too. You’ve inspired me to want to insure lawn mowers. Somewhere out there, someone else cares.

Dear Fannie; Oh never mind, they don’t actually read any commentary.

->HUD is not your friend

->FNMA is not your friend

->FHLMC is not your friend

->FHFA is not your friend

->HUD Secretary Fudge is not your friend

->The Executive Branch is not your friend

Keep in mind that in March 2023 FNMA stated that traditional appraisals [i.e. Appraisers] are ranked in their cascading process as #5 [dead last] for Collateral Valuation.

#1 is an AVM. #2 is an AVM + Property Data Report, prepared by a ‘trained’ PDC.

A PDC is most likely a R.E. Agent, but could be an Uber-Lyft driver, or even an appraiser, for $45-$75.

These things are all related under Appraisal Modernization, including the marginalization of Appraisers, plus, HUD, FNMA, FHFA, Fudge & the Executive Branch all throwing appraisers under the bus for doing nothing wrong. Some might even use the term Conspiracy to describe what’s going on.

HUD & FNMA are the worst of the bunch. There’s no upside to doing work for them through a lender or an AMC. Only risk.

I completely agree with you Tom. I’ll have to start bagging groceries at the local Kroger unless I can find something else useful to do with my time because appraising doesn’t seem to be it.

Author Tom, the last post I read dated 10/20/2023 at 10:15 am is the classic response from those of us who have attained the highest license level obtainable and with over 30 years experience. Again, those that manipulate the money should be pleased to have successfully begun the process of not only stifling new entries into the business, but also forcing the veterans out of business by frivolous and substantially incompetent complaint handling. Congratulations. Tom’s post should remain on this blog forever….. as a bit of history lesson.

I’ve spent the past 15+/- years doing review work, 1 year for an AMC and 14 years split between 2 of the largest lenders in the US. An eye opening experience is an understatement! It was my experience that the majority of reviewers, FNMA included, had very limited field experience. Which is painfully obvious when they request baseless revisions for “more or better comps” As the OP so eloquently states “As anyone who has been an appraiser for more than five seconds can attest, you use the best comps available. There were no “better comps” to be used.” To make matters worse, they almost universally are delusional in thinking they know everything about every market in the US! Appalling, actually as well as insulting to the local boots on the ground appraiser.

When CU (Collateral Underwriter – pet peeve, use of abbreviations without explaining them in the 1st use!) was 1st introduced, as reviewers, we had access to it. Unfortunately, appraisers did not. Many reviewers just copy/pasted the “rules” that fired and sent them to the appraiser as a revision request. The appraiser’s response, often times, was not important, the reviewer was justifying their existence. Statistics were kept on how many revisions as a percent of total reviews completed, were used in your annual performance review. CU had access to FNMA’s entire database of appraisals performed for sales and refi’s. So when an appraiser uses a comp that has been used before in another appraisal, CU flags any and all differences in ratings, which is a direct result of revision requests that question condition, quality, room count, GLA etc. Market conditions adjustments were FNMA voodoo, varying wildly between comps used by the appraiser and the FNMA model adjustment with no rationale provided – Paradoxically, they didn’t have to support their model adjustment!

I was laid off this past February as the rising interest rate environment was having a significant impact on mortgage application/appraisal volume. I’m 63 and many around me were saying this is a great opportunity to retire. The problem was that, it was not my decision or on my terms. In addition to being a Certified General, I also hold an MBA in Banking and Finance. I say this not to impress, because that and $3 will get you a Starbucks, rather to make the point that layoffs are indiscriminate. A great deal of reflection and soul searching has ensued. I’m no longer proud to say I’m an appraiser. After reading the OPs ordeal as well as many similar tales, I really don’t think I want to be an appraiser anymore. When it affects those around you and your own health, it’s time to move on. Life is truly too short to be answering misdirected, unqualified and meaningless questions from someone that’s not qualified to lick your measuring tape!

Cheers to appraiser’s mental and physical health!

I do have one question, and I probably know the answer, but will ask it anyway: Where does FNMA send the automated complaint (or any complaint) in the case of a hybrid appraisal when the subject data does not agree with CU?

Thanks. Our wish is to save the republic and be left alone. It’s all the people whom fell into the debt traps that lost their ability to simply say no. There is no greater objection than absence.

You nailed it again, Baggins. These endless examples of isolated events revealing financial injustice are looked at as collateral damage by the elite in the implementation of their Grand Plan. The Great Reset with CBDCs is the “smart guys'” exit strategy to cover for the inevitable collapse of the international banking system’s fractional reserve banking scheme they know is coming. The puppet-masters (we have a government of the bankers, by the bankers and for the bankers) justify (to their consciences, as they don’t care about the little guy) their exploitation of the masses with the goal of global governance to usher in a communist utopia. The globalists are purposely undermining national/localized governments, cultures, and societies in order to consolidate power under the UN. The situation for most people will get worse before it gets better, but the people in the USA, and most of the world, will be better off when the United States Imperial Federal Government (biggest, most powerful government in history) goes bankrupt because we will then have an opportunity for the States to split up into smaller political units that revert to the original Constitutional principles that the USA was founded on. The elite are running this gambit on the assumption that most people will beg the UN to save them from their incompetent national governments when the collapse bankrupts every government on Earth. I hope that the people of the USA haven’t become such gullible cowards that most go along with what will likely include a referendum with UN officials counting the votes. This was the original purpose of the Second Amendment. A free-market voluntary society with no political masters would be ideal, but people aren’t ready for it. This will be a step in the right direction, though.