Let’s Focus on the Public Trust
Banking still hasn’t recovered from the financial crisis using this metric. History is repeating itself right now with the “modernization” movement – code word for “automated valuation” using abysmally unreliable technology.
“Trust” is Hard To Win Back
Trust is a wildly important asset to have in the banking industry. They violated the public trust during the housing bubble and have worked hard but still haven’t reach pre-bubble trust levels. Let this be a lesson to Appraisal Management Companies, Mortgage Lenders, GSEs and Regulators who are currently working hard to undermine consumer trust again through the mortgage valuation process in order to generate more volume.
Here’s yet another amazing infographic from Visual Capitalist infographic:
- Beware of Bifurcated Appraisals - August 4, 2023
- And Why Is the Second Appraisal Always the “Correct Value?” - June 9, 2023
- Certified Appraisers vs. Unlicensed Data Collectors - April 25, 2023