Secret HUD Meeting on ‘Appraiser Bias’
The exclusion of the appraisal profession from events looking at valuation bias sends the message – intentional or not – that the input of appraisers is unwanted by those seeking to address issues relating to valuation bias…
This was in a news release put out on Aug. 2, 2021 by the American Society of Appraisers which reveals the ‘secrecy’ behind the government’s efforts to attempt to continually help smear real estate appraisers:
“RESTON, Va., Aug. 2, 2021 /PRNewswire/ –The Department of Housing and Urban Development (HUD) held a virtual event today looking at bias issues surrounding the home valuation process. Notably, this event was held without any participants from the appraisal profession at the table. This marks the second event of its kind that has excluded appraisers or their representatives from these important conversations. On June 15th, the Consumer Financial Protection Bureau (CFPB) held their own valuation bias event, absent any meaningful input from the appraisal profession.
This mirrors the ongoing process, led by HUD, by which the PAVE Interagency Task Force has been working. Rather than providing public notice of planned meetings and seeking stakeholder input, the Task Force meets privately and without offering meaningful opportunity for public input.
The exclusion of the appraisal profession from these events sends the message – intentional or not – that the input of appraisers is unwanted by those seeking to address issues relating to valuation bias.”
The full news release is here: ASA Disappointed with Continued Exclusion of Appraisal Profession from Ongoing Federal Agency Efforts on Valuation Bias (prnewswire.com)
Appraisers need to remember that governmental agencies and the GSE’s were direct participants and enablers of the awful ‘redlining’ that was prevalent in the US from the 1930’s (or earlier) up until the 1980’s. Those practices had a direct causation of lower property values in many places in this country…..which are still in place today.
Dave Towne on e-AppraisersDirectory.com
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Nothing new here. In my opinion when they do include entities from the Appraisal Profession it’s only for show.
I’m shocked….NOT
The real bias is against appraisers!
It is unfortunate that boots on the ground appraisers are hardly ever given a place at the table for discussion. We are facing an uphill battle against big tech, big government and big media.
I can discredit their narrative in 5 notes – cry me a river. These fools have not a clue what they are speaking of and that’s why we are not being asked – they can’t handle the truth.
Welcome to the brave new world of big tech control and censorship in concert with government agencies. Redistribution of wealth, taxation without representation for the majority now. However, voices of reason persist.
https://www.youtube.com/channel/UCkJ1N-7g9Q6n7KnriGit-Ig
https://www.google.com/search?client=firefox-b-1-d&q=PAVE+Interagency+Task+Force
or if second link does not work, just google; PAVE Interagency Task Force
Vote for central planning! Because, it has worked so well in the past.
Well lets just sit the buyers and Realtors down to the table to ask WHY the buyers are paying LESS for certain houses or in certain locations. The Appraiser comes in AFTER they make an offer on the properties under contract. It is already a done deal. All we are doing is providing opinion of value based upon true comparable sales. THEY are thinking WE define the values and we do NOT. The market does PERIOD end of sentence. As for refinances what do they want? Go back to them telling us what number they are looking for? We all know how that turned out before the crash. They don’t realize we are appraising the PROPERTY not the people in the property. How can there be bias? They have no clue how the process works and quite frankly are placing way more power on our part is in this process. We are not that powerful to move markets one way or the other. BUYERS however ARE! Realtors advising Buyers Are!
https://datausa.io/
This is a good resource to compare many specific aspects, area vs area. What it is missing is crime, that’s easy enough to sub in from alternate sources. But that’s not the actual issue. Research PAVE and the people promoting it.
Wealth redistribution by central planning. HUD’s mission is supposed to be increasing access and opportunity, not tax money redistribution. Who is left to revisit the arguments that the government should not be involved in lending, insurance, or health care in the first place.
So while many will attempt to argue with logic, they’ll remain mystified why the opposition appears so stubborn headed and opposed to reason. They know exactly what they are doing. The propaganda will continue to build as government expansion continues.
It could be worse – they could invite The Appraisal Institute.
HUD reviewers are trying to get rid of old appraisers by not honoring their years of service. The recent review did not take into consideration the appraiser’s 35-plus years of experience, nor was a statement made the adjustments were by historical records (over 15,000 appraisals completed), or abstraction. Handbook 4000.1 does not say a 1000MC should be used. Which is considered worthless paper in a tight market (that is well established) using comps outside of an area does not reflect the market. Plus if all your sales are selling 12 to 25% more than the listing you cannot use form legitimately as your not allowed to add this percentage to the listing!
In other words, say zip.