100% truth!

I had sort of higher hopes for this trolling event. Sadly, it fizzled out. Just when it was getting good too, lol.

Your pal; Friendly neighborhood insurrectionist. Of course, you can’t take anything I say seriously, or anything any conservative says seriously for that matter. Because there is only one party. The state. Omnipotent. Ever present. Always watching and supervising everyone’s behavior. Correcting those whom fall prey to independent thought and logic. Winston, how many fingers am I holding up now?

I’m sensing severe TDR in this one…

What’s it like to live life like a parrot in a cage, screeching red blue red blue all day?

You were saying something about ‘educated opinions’? Bruh, turn off the television.

Are you an appraiser? Don’t you prep for your assignments without knowing the racial identity of the appraisals completed for lenders? Furthermore, which is worse for the borrower — to appraise a property above market or below market?

Appraisers are naturally independent and opinionated individuals.
should be.

But how many national realtor associations are there? auto workers? coal miners? hotel workers?

now how many thousands of appraiser associations are there? and out of all those-is the TOTAL membership representative of ALL appraisers? or are they lucky to total out to 25%

until all the groups quit trying to be the main dog and just join together into ONE trade association, there will never be a single voice.

ClairB said; ‘No one should feel they must inflate (or deflate) the value of a home based on this form of bias for fear of expensive reprisals’

Sure, in theory. Except if you’re in the real world and accepting amc appraisal management company assignments. Because if you upset even one of the hundred people working there, you’ll lose every single lender they contracted with. If you upset even one lender person whom they contracted with, the call will come down from upstairs and you’re out. It’s basically impossible to maintain appraisal independence if contracting with most of the amc’s out there. The appraisal management industry, the long arm of predatory lending.

People should understand the racial bias argument is just a circus show distraction for the plebes, for the under educated and propagandized. Something to distract them from the root cause which is the actual problem of economic disparity. First receivers of money and a fiat currency system! If the people would stop buying it, they’d stop selling it.

I agree with everything you said until your last thought. There are protected classes because historically we have created the need for protective classes. Equal is not always equal especially when money is involved remember there are people living in our country who are the grandchildren of slaves. There are also people in our country and some of them with lots of money and power who don’t accept many others as equal. But insane laws like this in NJ will do more harm than good. Like my grandfather used to say we’re going to wreck on one side of the road to keep from crashing on the other lol

A steady stream of ever higher home sales price also keeps that increased tax money flowing which is where the real incentive lies. On the flip side, finally the institutional investors will have more reo stock to work with again. Will someone please answer the question; What exactly is wrong with lower housing prices? In this brave new world it is now considered discriminatory if a borrower does not pay over 100% of the market value for real property. Don’t worry, the planned economic collapse is right around the corner and if we don’t turn this around soon, none of this will even be relevant in about a year or so.

Be sure to read the entire bill, especially if you are in this state. The borrower will be handed ahead of the appraisal, instructions on how to complain to the states civil right division upon any suspicion of a discriminatory appraisal. Then the civil rights division within the government will be the ones actually performing ‘the investigation’, and will forward those findings to the appraisal board. Specifically the civil rights division appears to be a sub section of the department of law and public safety.
https://pub.njleg.state.nj.us/Bills/2022/S1000/777_I1.PDF
Initial bill. Introductory paragraph(s).

Under this bill, holders of appraisal licenses or certifications, or12
appraisal management company registrations, may have their13
licenses, certifications or registrations revoked or suspended, or be14
subject to fines, if the board determines, after an appropriate15
investigation, that the holder of the license, certification or16
registration has knowingly engaged in a discriminatory appraisal of17
a residential property on the basis of the property buyer or property18
seller’s race, creed, color, or national origin.

Then back to the final bill, observe the language changes, subbing out direct reference for appraisal management companies. And am I reading this right in the updated bill, that the appraiser would also be discriminating against the seller, their agents, the occupants, and the occupants of all properties contained within that neighborhood? They threw a lot in there on the end. Anyone can initiate these complaints, from the commission based agents to the neighbors of the aggrieved whom live in the same neighborhood. So much for the appraiser independence valuation pressure hotline. They’re setting up a hotline to complain against any appraiser whom does not bow to the pressure instead. There will be a state funded complaint avenue which goes directly to civil rights lawyers employed by the state, whom will be tasked as part of their normal course of employment, with identifying ‘appraisal bias’ against ‘protected class people’, which will generate ten thousand dollar fines for that same government body, until the well runs dry. They will freely pressure the appraisal board whom of course, will not be able to keep up. Is that possibly, a conflict of interest scenario?

3. a. Consistent with the provisions of section 8 of P.L.1978,23
c.73 (C.45:1-21), a holder of a license or certificate under P.L.1991,24
c.68 (C.45:14F-1 et seq.) or registration under P.L.2017, c.7225
(C.45:14F-27 et al.) shall not discriminate in the appraisal of real26
estate on the basis of the actual or perceived race, creed, color,27
national origin, affectional or sexual orientation, sex, gender28
identity or expression, disability, or other characteristic protected29
under subsections g. and h. of section 11 of the “Law Against30
Discrimination,” P.L.1945, c.169 (C.10:5-12) of the property buyer,31
property owner, agents of the property buyer or owner, or present32
owners or occupants of the properties within the neighborhood of33
the property subject to appraisal.

One ponders how susceptible the individual appraisal board members will be to the pressures of other state departments such as lawyers from the public safety division shoveling a constant stream of investigative reports their direction whenever a borrower is protected from debt traps via the independent appraisal process.

https://www.fdic.gov/news/financial-institution-letters/2010/fil10082.html

Missing the IVPI proposal yet?
https://www.workingre.com/wp-content/uploads/2013/08/IVPI-Proposalfinal.pdf

Thanks, Bruce. Same to you.

A view from someone who has no idea what Appraisers do. A fine of $10,000 for the first offense would put most Appraiser out of business. If that’s what you want, good luck buying a home in New Jersey.

I agree with one of the comments…I would charge $10,000 to perform an appraisal in New Jersey if I’m subject to such fines.

Mark, well said and Merry Christmas and Happy New Year,

How do you make the determination that a buyer/seller is the same as you?

Who lined up those deals in the first place, commissioned based agents and commission based lending companies? Buyers can be handed additional disclosure forms that they may use their appraiser complaint settlement money to help offset down payment requirements if they want to try again. But they’ll never escape the debt trap which occurs from amortized commissions over a 30 year schedule! HO HO HO Merry Christmas!

The GSE’s appraisal developmental guidelines, the appraisers Uniform Standards of Professional Practice guidance, the CFPB Reg Z confirmations and interpretations, and the core regulatory guidelines contained within Dodd Frank, Regulation Z on Appraiser Independence, and FIRREA Title XI not enough regulatory guidance on the matter?

The aggrieved whom were unable to line themselves up for debt traps will rarely have anything. Waste of time and resources. The bright side might be some incentive for the general public to bring lawsuits against appraisal management companies.

The snarky combative discourse you have initiated from the start of this discussion is typically referred to as trolling on-line. What makes you think I want to cry?

Possible, I don’t know you and I don’t make silly guarantees born of ignorance, so I obviously can’t say what your relative experience is. However, I can state that I have appraised over a thousand commercial properties since starting in 1983 that includes every sort of office, retail, industrial, agricultural, and residential property including shopping malls, hotels, orange groves, golf courses, high-rise luxury apartments, car dealerships, college campuses, marinas, medical centers and everything in between as well as residential homes as part of large subdivisions and PUD appraisals; in every part of Florida, most of Georgia, East Texas and a couple in Ohio.

Those guidelines you refer to, that have been in place since before I started, is why these new guidelines, laws, and fines are redundant at best, and caustic virtue signaling by ignorant politicians seeking to pander to ignorant race baiting activists at worst. Everybody can have an opinion, but some are more valid than others.

There are certainly sloppy appraisers, just like in every other profession, who do not diligently perform their duties honorably, but that is not the issue here, is it? It is the destructive new legislative agenda of DEI infiltrating the appraisal industry. Nice try moving the goal posts.

I do pay attention and am way ahead of you, but thanks for the encouragement.

In other words you believe that if an appraiser is incompetent and utilizes wrong comps, data, etc. then he must be racist/biased! smh

Never attribute to malice that which is adequately explained by stupidity

Troll? Name calling? You gonna cry… boo hoo.

I guarantee I have more experience appraising than you do.

2nd. Common sense guidelines? Is there something confusing about promoting or exhibiting straight forward ethics in appraising? That IS the issue here. It is appropriate to question what a “educated” opinion based on available data points is. Lender, private person, government, etc.
Appraisers are quickly doing assignments without deep thought, research, or proofreading. That is why there is more evidence of bias, misleading data, and geographical incompetence.

But that is what happens when the lazy & greedy take lower fee assignments & rush everything with boiler room mentality.

Try to keep up & pay attention.

HH, I don’t usually feed the trolls, but what makes you think that you are qualified to determine what “common sense guidelines” for appraisers are? You obviously are not an appraiser and appear to be in way over your head. So, perhaps, presenting a valid argument for your position in lieu of name-calling would be more persuasive and/or at least meaningful. Of course, that would require some heavy lifting by the mind, which is never easy but worth the effort if you really care. I hope this helps.