Comments on: No Appraisals Required. The End of Appraisers? https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers Appraisal News and Tips for Real Estate Appraisers Fri, 03 Jan 2025 03:22:22 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Seneca https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37560 Fri, 17 Mar 2023 13:53:55 +0000 https://appraisersblogs.com/?p=28933#comment-37560 CPFB Holding lenders responsible for appraisal discrimination.

https://thenationalrealestatepost.com/holding-lenders-responsible-for-appraisal-discrimination/

Another reason for lenders not to use appraisers. Hamp asked, Is this the end of appraisers? Pretty close. So, what is your next career going to be?

]]> By: John Hamilton https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37558 Thu, 16 Mar 2023 18:06:06 +0000 https://appraisersblogs.com/?p=28933#comment-37558 In reply to David.

OK I’m in, but who is going to organize raising the funds and hiring the lobbyist? We are woefully behind the curve here, myself and many others were organized in the early 1990’s and managed to protect the appraisers interests for the most part at that time. Here in 2023 there does not appear to be any meaningful response other than the same old anecdotal war stories we pass along among ourselves. Yes past markets crashed due to really bad mortgage products/underwriting and banks failed due to really bad management decisions to go along with those mortgage schemes, but if Uncle Sam is going to reimburse them for their losses (bail them out), well they have just found a way back to the gambling table. As I recall someone once said that whoever complains about something without offering a solution is just whining. So my fellow appraisers who has the plan?

How about put together a coalition of the appraisal trade associations to fund & organize this campaign into an informative counter-offensive to the powers that be? Lets say we get 20,000 appraisers to contribute to a $5,000,000 campaign that will pay for the lobbyist who can identify the key politicians to whom to direct the political contributions and educate on the issues. Fortunately at this point the No Appraisal Necessary movement is only in the regulatory rule state, not law. The regulatory process is easier to fix. Do any of the trade associations have a legislative liaison?, if so wake them up. Politicians drive the regulators and $$$ drives the politicians, we are analysts so lets figure it out. The Mortgage Bankers Assoc PAC (MORPAC) spent approximately $3,000,000 in 2021-2022 to influence federal politicians and the mortgage bankers got what they paid for, lets do better.

]]> By: Divedude https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37557 Thu, 16 Mar 2023 17:50:15 +0000 https://appraisersblogs.com/?p=28933#comment-37557 I can’t believe bifurcated appraisals have gone this far. Concocted by a corrupt organization in conservatorship using an unlicensed 3rd party where property disclosures can easily be influenced or strongarmed? Who in their right mind would trust this model over a real appraisal? They cannot produce credible results and I have no respect for any appraiser who performs them. And if you can’t drive by your comparables, go work for Zillo. By the way, does anyone else find the ANSI standard rounded to 1/10 of a foot stupid?

]]> By: David https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37554 Thu, 16 Mar 2023 12:45:45 +0000 https://appraisersblogs.com/?p=28933#comment-37554 Mortgage back securities REQUIRE collateral verification by a licensed professional who can be trusted! As in, appraiser, appraisal!

]]> By: Honest Appraiser https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37553 Thu, 16 Mar 2023 12:13:48 +0000 https://appraisersblogs.com/?p=28933#comment-37553 In reply to David.

What does Liz have right?

]]> By: David https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37546 Thu, 16 Mar 2023 00:49:51 +0000 https://appraisersblogs.com/?p=28933#comment-37546 Time to speak up my fellow appraisers and stop behaving like sheep with one word posts. Wake up and smell the roses unless you are all Tucker Carlson fans. Eliz. Warren had it right, has it right and please don’t go over to the other side – those retired review appraisers already have!
Dave

]]> By: Seneca https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37543 Wed, 15 Mar 2023 23:29:49 +0000 https://appraisersblogs.com/?p=28933#comment-37543 In reply to David.

Hardly

]]> By: Pat Turner https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37535 Wed, 15 Mar 2023 20:23:37 +0000 https://appraisersblogs.com/?p=28933#comment-37535 In reply to David.

Exactly!!!!!!

]]> By: David Samnick on Facebook https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37726 Wed, 15 Mar 2023 13:48:34 +0000 https://appraisersblogs.com/?p=28933#comment-37726 When you remove the Referees (Appraisers) the players can act as inappropriately as they wish with no flags or penalties thrown. So far, The Gov’t (GSE’s) & Lenders are up 98-0 over the appraisers. Now appraisers are walking away from the professions and the Big Boys are screaming “Appraiser Shortage we have to automate”…..There is a shortage. They just pulled the trigger on the temple of every independent appraiser left in the profession…..MASS EXTINCTION EVENT.

]]> By: David https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37510 Wed, 15 Mar 2023 13:33:09 +0000 https://appraisersblogs.com/?p=28933#comment-37510 Can you say mortgage back securities? And can you say waivers? SVC bank and several more to follow by weekend! Looks like appraisers are gonna be back in the game!

]]> By: Chuck Minzenberger, SRA https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37485 Tue, 14 Mar 2023 13:49:17 +0000 https://appraisersblogs.com/?p=28933#comment-37485 Well its official, I guess all banks are now GSEs. With the failure of two large banks over the past week due to mismanagement and the rollback of regulation [for those who blame Trump for this, wake up, the rollbacks were bi-partisan], will FNMA back off a little and ‘rethink’ the push to get rid of the appraisal? Some of this greed needs to be put in-check, appraisers are really the only group that can at least put in the speed bump. Regulations need to be put back in place. Glass-Steagall should have been brought back in Obama’s first term. I’m really not trying to get political, the whole system is a joke, actually a travesty

]]> By: Dan https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37482 Tue, 14 Mar 2023 13:34:09 +0000 https://appraisersblogs.com/?p=28933#comment-37482 We are screwed! Fannie Mae said for decades that they would not buy loans unless they had an appraisal. Now they are saying they don’t need them and will move to computerized models. It is their call. Unless they change their stance because of banking crisis or new regulations, we are in deep trouble!

]]> By: Pat Turner https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37481 Tue, 14 Mar 2023 00:02:45 +0000 https://appraisersblogs.com/?p=28933#comment-37481 In reply to Baggins.

In less than 12 months I predict!

]]> By: Pat Turner https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37480 Tue, 14 Mar 2023 00:02:11 +0000 https://appraisersblogs.com/?p=28933#comment-37480 In reply to William Turner.

Damn good job William!

]]> By: David https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37470 Mon, 13 Mar 2023 22:49:04 +0000 https://appraisersblogs.com/?p=28933#comment-37470 Soooooo, can Fannie absorb the soon to emerge losses for all those loans where appraisals were wavered. If history and current secondary bank regulations is something we remember, the answer is a resoudning NO and hang on. Our profession never dumbed down under extraordinary pressure. I don’t know about my peers, but my appraisals over the last two years are solid! Ignore those that crossed over and were complacent with our license to take us out.

]]> By: David https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37438 Mon, 13 Mar 2023 15:45:51 +0000 https://appraisersblogs.com/?p=28933#comment-37438 Fannie Mae is not yet out of recievership and wants to further dilute the financial services industry. Essentially they are lowering the standard to BPO and niavely believe a background check protects investors from Fraud. Ha Ha! SVC and Signature are the result of Trump era deregulation not unlike the watering down of Dodd Frank and the so called waiver program to 2nd layer poorly regulated lenders like First Republic – they are next. INVESTORS need confidence in mortgage paper and it is NOT going to come from the 6 AMC venders. Stay tuned!

]]> By: Seneca https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37437 Mon, 13 Mar 2023 13:22:03 +0000 https://appraisersblogs.com/?p=28933#comment-37437 Dave gets a shoutout.

https://www.housingwire.com/articles/fannie-mae-approves-six-vendors-for-controversial-new-valuation-initiative/

]]> By: Chuck Minzenberger, SRA https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37429 Sat, 11 Mar 2023 18:49:40 +0000 https://appraisersblogs.com/?p=28933#comment-37429 In reply to Honest Appraiser.

The timing of FHFA’s push to not actually look at the assets is pretty obvious. Thing is Fannie is still in conservatorship, they don’t actually have much money. “FHFA went on to finalize this capital planning rule June 2022. The first plan submissions under this new rule are due May 20, 2023. Execution of the GSE capital plans gets them out of conservatorship. Execution of the GSE capital plans gets them out of conservatorship.”

]]> By: Honest Appraiser https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37427 Sat, 11 Mar 2023 17:50:16 +0000 https://appraisersblogs.com/?p=28933#comment-37427 It’s been easy to loan money on rising collateral. The next few years will be much more interesting and they will need boots on the ground. This entire shell game is just another $$ grab by the AMC’s and REVAA.org They are spending $Millions in DC lobbying these efforts and Independent Appraiser have $0 so here we go.

]]> By: David https://appraisersblogs.com/no-appraisals-may-b-required-n-the-end-of-appraisers/#comment-37426 Fri, 10 Mar 2023 22:38:05 +0000 https://appraisersblogs.com/?p=28933#comment-37426 You all have heard me say this before, but I’m going to say it again, it’s not about value it’s about collateral verification. And that is outside of our hands.

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