https://activerain.com/blogsview/5268969/a–1-million–theft–william-drabick–senior-property-appraiser-investigator–state-of-california–breau-of-real-estate-appraisers–brea–falsify-s-resume-to-obtain-a–111-000-position

Bill…have you ever heard about being as full of shirt as the Christmas turkey?  that describes this dude to the hilt! don’t you just love our fellow appraisers that send their dues to appraisal organizations that only promote their piers! Really? How much of an idiot is that? “I am not an”ABC” but they are the best…can appraiser an acre on the moon…not me but let me wave a flag for their parade! Are we stupid or what? Let’s get real!

Wayne, according to the “coach” and a recent blog post on his site, he completes 3 to 8 appraisals PER DAY. It is my understanding that he is the only appraiser in the office and has a team around him that helps. If the government has established a social security like number for each appraiser as it relates to the collateral underwriter (CU), I would love them to investigate how (if true) a single appraiser can complete 8 assignments per day. With his other ventures, and travel (including to the most recent Expo), it would appear greed is alive and well.

Solution?

GET INVOLVED NOW!

American Guild of Appraisers, Office Employees International Employees Union of the AFL-CIO. (AGA, OPEIU/ AFL-CIO)

You do NOT have to be a democrat, a liberal or a nut to be a union member. Most of us probably aren’t any of these.  I proudly identify myself as California’s only Republican union organizer in public hearings. Politicians on BOTH side don’t know what to make of that. ALL are welcome. The ONLY requirement is to be an honest appraiser concerned with our profession, or an affiliate that supports honest professionalism.

Contact JanBellas@appraisersguild.org or (301) 220-4100

Again, a minor but important correction. It does not take ten years. It takes only as long as it takes to start fooling regulators all over again, and to bribe corrupt politicians to promote their destructive views under the guise of “reforms.” HVCC was a perfect example. Less than a year after the November, 2008 disclosures that doom was imminent and unavoidable.

The underlying problems were not even identified and regulators facilitated the greatest theft of taxpayer money in history. By the way, lets all agree on ONE basic fundamental. There should never again be a former Goldman Sachs employee in charge of the Treasury. Read their history.

Then there was Dodd Frank. Again the outside, third party deep pockets were listened to rather than the experts. Mr. Trotier is employed by the insurance industry so I accept his criticisms in that area may be curtailed.

But make no mistake, it was and IS the insurance industry, specifically the Title Insurance wings that are eroding America’s regulatory protections AND the professional integrity of those majority of appraisers that even without laws, would adhere to generally accepted sound appraisal practices. Remember that USPAP was not created by a government agency. It was created by appraisers that knew what they were doing.

But USPAP and laws are not enough defense against the likes of First American that have their $$$ tentacles into all aspects of real estate transactions from listings, to sales, to arranging finance, title insurance, home warranties, AMCs, AVMs, ordering appraisals and yes even owning the number two appraisal software provider in America so that they can circumvent inconvenient bouts of principles or at least basic competency that would otherwise tell them that the product they were creating is defective, misleading, and borders on outright fraud (Go ahead First American-sue me….I DARE you!). Your advertised product was so bad it caught the attention of the Appraisal Subcommittee executives before it was even released! LETS go ahead and make it public record in a court of law rather than an obscure public agency hearing!

I digress. No Mr. Trotier is does not take ten years for institutional memory to lapse. It takes from less than one year to five or size years for unrestrained (insidiously evil) institutional greed to overcome common sense, basic morals, recognition of societal necessities and to rationalize elimination of protective regulations; replacing them with self serving carve outs.

What takes ten to fifteen years is for society to catch on and demonstrate their outrage!

Its not unlike IRS abuses. They existed since the 1970’s. In the mid to late 1980’s they got so bad Congress passed laws against quotas. (NOTE Keep in mind here that the average IRS Executive compensation manager has been an IRS employee for 35 to 40 years). In the 1990’s abuses again reared their head. And we all know about Lois Lerner. Each time new laws were passed. Each time those laws were left to the corrupt leaders to implement. How’d THAT work out?

The SAME people have been the ones committing the abuses all along! Yet we protect them, and fire whistle blowers. I’ts no different in the world of high finance. The CEOs, their senior executive staff accountants and legal advisors have all been around for more than thirty years.

One good argument for mandatory retirement would be to put an end to mini empire carve outs that erode the  rules the rest of us live by.

(ps I am a former senior IRS appraiser and have some direct knowledge about what I am speaking of).

Builders seem to be more selective, although it’s tough to know for sure anywhere but your own areas.  What gets me is the way people are so eager to put the debt on the home.  Might as well just rent an apartment, because repeat refinancing your home is exactly like being a renter, but without the benefits which are normally afforded to a renter.  The only benefit of home ownership that most people should consider, is that where they no longer have to pay a mortgage payment after a certain period.  Mortgage lending offering cash out is the fumble of the century.  That should have been limited to heloc and credit lines.  Refreshing a 30 to pull cash out is a purely irresponsible financial decision in most cases.  For FHA to offer that is clearly an abuse of the process.  What is notable about current inventory is that a much larger portion of the available housing continues to transfer to non owner occupied persons or businesses these days.  That trend has been ongoing since the last pop.  I’ll never cease to be amazed that two revolving lines of credit like a credit card is necessary to qualify for a home mortgage.  That is exactly what a responsible money manager refuses to do, take on unnecessary debt.  New rule;  You cannot qualify for a home mortgage if you have active credit cards.  Take the vikings out of your wallet and call me back when that unnecessary risk is cleared up and swept away.  And hell no we’re not offering cash out.  Get a better job, tighten the belt.  We’re not in the business of giving away money.  Oh wait, that’s not our money we’re loaning;  Cash out approved.  We’ll even throw in a bonus;  We’ll increase the effective multiplier of your cash equivalent debt amount, if you’ll swap those 5 and 10 year debt notes to a 30 and tie that up into your home.  (evil laugh – works every time!)