Obviously, this guy didn’t get the appraised value on his house! Too bad; we don’t give values out like candy!

I sent her an email I published here in the blog. I followed up with Jonathan Miller’s take on her article. I sent her the AI letter. I told her I demand she do another article that takes back what she said that appraisers are racist! She is a travel writer and did a Ted talk on Rwanda on the Truth and Reconciliation process that healed Rwanda after their genocide; it has been 20 years and things are better there, so I complimented her on the Ted Talk and asked her to stick to travel writing and that she was not qualified to “review” appraisals and conclude that all appraisers are racist. I am furious at how our reputations have been destroyed as a profession. What we need is for the banks to KEEP THEIR LOANS FOR 30 YEARS! Then they will be more interested in getting professional appraisals!

https://www.businessinsider.com/youre-all-wrong-blame-the-appraisers-for-the-mortgage-crisis-2010-4

FROM THE ARTICLE
“So, right here and now, I’m going to tell you who single-handedly caused the mortgage crisis: It was the appraisers.”

WOA!!!!

Replacing the Departure Provision with the Scope of Work Rule has been one of the leading causes of less than compliant appraisal reporting under the excuse that a warranted step or process “wasn’t in the agreed-upon scope of work.” Following decades of unnecessary USPAP changes and tweaks for spurious reasons, professionals bound by USPAP, transaction-related participants and the public have had good reason to lose faith in USPAP.

TAF has supported (or at least failed to effectively oppose) states switching from ‘Appraisal Review’ related to the determination of compliance to non-uniform, hidden ‘investigations’ in which contract or state employees conducting appraisal reviews sidestep their obligations through use of artifice.

Regardless of where the blame for this lies, it needs to cease. USPAP never said the ‘measure of compliance with USPAP is what a state official says it is’. Quite the opposite. USPAP compliance can and should only be determined through peer review where the peers also have an obligation to follow USPAP. Especially SR 3 & SR 4; though I have seen numerous ethical and competency violations too.

Many thanks to Maureen. As always, she provides remarkable insight. The unanswered question is now “what next?”

This presentation is marvelous! May I forward it to Maxine Waters’ office?

I am waiting for the results of ANY study comparing foreclosures, loan losses, etc between AVMS, Waivers, and REAL Appraisals. That data has to exist because all they do is sit around and play numbers all day.

The reason may be they don’t want that info out there? Could there then be lawsuits against lenders? Is there a statute of limitations on mortgage fraud?

I have been told there isn’t.