Related. Foreclosure stats. If prices come down, and inflation comes under control, we could see a wave of foreclosures hard to imagine. How about nearly a million people on the precipice right now, under current economic conditions, just for starters. Remember when I was talking about researching treasurer public default notices? The trend continues.

Can you observe the correlation of needing to shift blame? This trend of settlement will eventually end, because they’ll run out of money to do so. Eighty thousand appraisers insurance policies up against a never ending ngo and 501c group grants hand out from gse’s, to incentivize complaints against appraisers. The bright side is this issue of frenzied race based arguments is seeing increasing push back from many different industries and groups of persons just about everywhere this effects peoples lives. Even at the lowest possible levels, the local school boards, the primary talking point has shifted to we’ve had enough of the race and equity based narratives. Being a national trend, it appears the support for race based narratives is crumbling from the ground up. That’s real democracy in action.

I like this. Where did you get the information from?

The typical residential real estate appraisal is about 30 pages long. Let’s assume there have been six dozen cases of alleged bias (“dozens”, per the New York Times). The stack of allegedly biased appraisals would stand about 9 inches tall. If all ten million appraisals were stacked on top of each other it would stand almost 19 miles high.

Absolutely,. That and “show me the money” regardless if the real estate, with the “desired” over-valuation, can’t support the target amount wanted. Sure, how can appraisers not get this through their thick skulls. Makes perfect sense if you live on Krypton. Isn’t this the exact scenario why licensing came to be?

That is disappointing. I’m one of those appraisers that include such comments in my reports. Just one of the many comments in my reports with CYA intentions…making my reports another two pages longer.

Actually, it WILL be included, based on my observation of a draft document of the upcoming ‘dynamic’ forms.

This data point is used by lenders and the regulatory agencies to track lending activity everywhere in the US. It’s been on GSE forms (and even on some of the non-lending GP forms) since the GSE’s took over the “forms design” process starting in the early 1980’s.

From my discussions with appraisers, the Census Tract number is NOT RESEARCHED by appraisers when they are selecting comparables if they are doing their work per laws and guidelines. Census Tract numbers have PERSONAL DEMOGRAPHIC info which we cannot use to consider which homes to use for comps.

However, the people who are trying to discredit appraisers as a profession ALWAYS use personal demographic Census data to justify why they think appraisers are biased and discriminatory.

Many mortgage lending appraisers are now including statements in reports saying that they did not consider any Census demographic data in their research and analysis for CYA purposes, in case their reports get reviewed or complaints are filed against them.

I believe the new forms will not have the census track in the report itself. The GSE can track that information without it being in the actual report. What I’m hoping for is no ENV format with the new forms, but I doubt that will take place.

I think FNMA should make a booklet to give to all borrowers, Agents/Brokers, and Lenders on the process the appraiser works through to derive their OPINION of Value, with excerpts from FNMA’s Required Forms, and the State Rules which already prohibit discrimination. I can’t imagine any appraiser risking their License / Certification to knowingly discriminate for what $350-$1000. Really, Educate the ones using the OPINION of Value, dictating and perpetuating discrimination, and we might stop some of this insanity.