Both dems and GOP senators are supporting this bill!

Mark Warner & Tim Kaine, both VA senators, are co-sponsoring this bill along with 10 other democrats, 12 republicans and one independent. Politicians are bought and paid for by American lobbyists, special interests, regardless of their party affiliation.

You can read Mark Warner’s response to my email at at http://appraisersblogs.com/stop-senate-bill-2155-fake-appraisers-shortage/#comment-19910

Good luck writing to your Senators!

Yes, I am in total agreement with that. AMC’s have been an issue since day one of its origination ! How can an AMC rep from, well let’s say California know or possibly understand “rural” in, well let’s say North Dakota ? Mississippi, Alabama ??? We need to educate those who are in these positions proposing these changes and allow for them to realize what the consequences would be if this bill were to pass. I clearly do not see the benefit of this proposed change for anyone involved.

Beth while it sounds like a great idea in theory, we’ve found that unless they are actually on a related Committee it usually just results in a form reply and a pat on the head.

Writing the originator also limited benefit since he’s now vested in the legislation, but f we can show benefits to reversing his course or problems for taxpayers that could arise if he doesn’t – sometimes that can work.

Doing BOTH could be helpful, and as the Bill moves forward if we can find out which committee it is at that’s helpful too.

If possible – hand carry. Has more weight.

withdraw this bill and address the REAL PROBLEM- the appraisal management companies !

https://www.crapo.senate.gov/

Do you want me to print them and walk them in?  I don’t have any super secret special email for him.

Thank you,

I think they’d probably arrive by email. Is that a problem?

Mike:

I live 15 miles from Sen. Crapo’s main office.  He is obviously never there, but it would be my pleasure to hand deliver a pile of papers to his office.

D

Dustin, Are you in a position to hand carry letters from individual appraisers as well as organizations directly to Member Crapo? Alternately can you obtain and post an email for him that is not one of those House “Constituents-Only Zip Code-restricted ” emails so we can communicate with him directly?

Possible arguments:

This is a serious issue. Im sure advocates that got him to propose the Bill told him its for consumer benefit and convenience (and ‘only coincidentally’ to facilitate lending) never told him all the other things a professional appraisal includes.

Such as analysis of legal ownership interest(s) that exist or that are being conveyed; and the impact of any restrictions; localized market conditions that may suggest risk or stability that an owner has a right to know about, external factors relative to the competitive market area. This could be especially critical in rural areas where once a certain value threshold is reached it may become disproportionately difficult to sell a property or take incrementally longer.

Externalities such as drainage, flood prone conditions outside of designated flood zones; earthquake faults, known adverse geologic or soil conditions, contamination issues, or nearby adverse uses (such as a hog farm), rendering plant, certain crops and or limitations on governmental services, distance to schools, hospitals and shopping. All these are in addition to site specific conditions that may exist which need to be addressed.

Depriving consumers of impartial third party inspections and analyses is far worse than whether they may have to wait a couple weeks for an appraisal of the biggest asset most will ever own or want to buy.

I doubt seriously that Member Crapo wants to become known as the Chris Dodd-Barney Frank-Maxine Waters replacement of the 2000 “teens”. This steady erosion of FIRREA MUST stop before the entire economy of the USA is once again put at risk due to under collateralized bundled securities.

We already know that rating agencies are understating risks associated with assets over valued hybrids and evaluation products. Allowing commissioned based finance participants to guess at property values is a huge mistake.

Proponents of increase will argue that the deminimus level hasn’t been increased since 1989. Opponents to increase will remind the Congressman that the original deminimus was ten times higher than proposed in the original legislation! DeMinimus for res. 1-4 units was proposed at $25,000; NOT $250,000.

A quarter of a million dollars is a huge amount of money to most Americans. Just because it is hardly enough to notice in Washington DC does not mean it is a safe amount to loan without adequate collateral.

I’m sure reader-appraisers will have many more reasons why this is a bad idea.

Anyone would buy it. If FNMA, YOU guarantee the loan. Toss on some insurance; and a rating agency that routinely underestimate securities portfolios and presto! Everyone wins except the taxpayer.

Thanks Bill. You have an open invitation to come to Idaho and see my chopsticks, and zip ties firsthand. Oh, you forgot about the duct tape.

In all seriousness, I have been into the “Honorable” Mike Crapo’s (be careful how you pronounce that) office and called on this as well. Doubt he will listen to someone who is “only in the office on Mondays,” but we shall try.

You should always respond with your fee and turn time. Ignoring the requests only gives the amc more data they could not find an appraiser. By responding to every request with a fee and turn time, you also are providing data supporting there is no appraiser shortgage.