Who’s for Dinner?

State Organizations Changing the Landscape, Appraisal House Is in OrderState Organizations & Appraisers Helping Appraisers

You may have heard the expression “if you do not have a seat at the table, you are on the menu.” VaCAP can honestly state, appraisers are not on the menu.

Over the past several weeks, members of the Network (NSAO), which has now grown to 28 state organizations, have been recapping the events that transpired at the meetings in Washington D.C. last month. These meetings consisted of the FHFA meeting, the NSAO meeting, the ASC meeting, and the AARO conference.

Most state organizations participated and many individual appraisers attended. The support for the appraisal profession was strong. Appraisers have changed the dialogue significantly from a few years ago. Regulators no longer view appraisers in torn jeans and flip flops; an image portrayed by some bad players for personal gain. The professionalism we all have was conveyed with professional attire, professional attitudes and professional conduct. Things we do each and every day.

Discussions were frequent and informative. Appraisers were presenters and other participants eagerly listened. Problems presented were addressed with solutions. Frank Gregoire, an appraiser and advocate for the profession, presented with the theme: “The appraisal house is in order, the issues are on the mortgage side.” When you think about this statement, private clients do not have the issues the mortgage clients have. The appraisal process works.

Fannie and Freddie provided some insight into the PIW and ACE programs. They have a cap of 8% of the loans that can be offered an “opt out” option. Currently, only 2-3 % is being offered and of those being offered, only 40% of borrowers accept them. The statement was made “appraisers are important and we will continue to use them.”

At the FHFA meeting, there were numerous round table discussions. Members of the committee sat at tables with appraisers and lenders. Each FHFA member had a list of questions. Appraisers were the guest of honor and they wanted to hear from appraisers. CoreLogic, the moderator, the GSEs, Fannie and Freddie all remained quiet.

At the NSAO meeting, each state in attendance gave an update of events in their home state. Many ideas were shared and some solutions offered. There was not one person in that meeting who did not participate. Appraisers helping Appraisers.

A roundtable discussion also took place at the NSAO meeting. Sehar Siddiqi, the National Association of Realtors, Sharon Whitaker, American Bankers Association, and Jessica Lynch, the National Association of Home Builders were our guest. A professional exchange of problems and solutions occurred for all to consider. Appraisers, once again were presented as the professionals we are.

Steve Cannon, the attorney representing Louisiana against the FTC complaint, gave a presentation on antitrust issues and how we can protect ourselves. He also gave a brief history of the events of the Louisiana case.

The Appraisal Standards Board meeting provided an update on things coming down the road. Much of the discussion revolved around USPAP changes for 2020-2021 and exposure drafts.

The AARO conference was another strong showing of professional appraisers. Debbie Jones, an appraiser from South Carolina, led a committee and presentation on streamlining the process to obtain your license once all the documents have been submitted. Lots of positive terminology during the conference.

Some highlights on appraisal independence:

Penny Reid, (Wells Fargo) “Credit and appraisals must be independent”

Jim Amorin, (Appraisal Institute) “Supports C& R fees and appraisal independence”

Frank Gregoire (Florida) “We need unbiased appraisals”

The President of AARO, Craig Steinly, is an appraiser: “Appraisers are welcomed and encouraged to participate in AARO conferences. Appraisers are the experts in their profession. “

If you are not a member of VaCAP or any other state organization, you should join. The state organizations are changing the landscape and we need your participation to continue the profession in a positive direction. We are now viewed as the solution, not the problem.

If your state does not have an organization, reach out to us; there are many who will help you get started.

Thank you to all who support VaCAP and our profession.

VaCAP Board
Image credit flickr - Flavio~
VaCAP Board

VaCAP Board

Coalition of individual appraisers working together to unite, promote and protect the collective interests of all appraisal professionals in Virginia; to promote needed changes in laws, rules, regulations, policies and standards affecting all appraisers in Virginia; to observe and report the actions of regulatory, legislative, oversight, and standards-setting entities of the Commonwealth.

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19 Responses

  1. Avatar TJ Everett says:

    Great Feedback!  So many times we hear the doom and gloom or the propaganda from some of those bad players. There are a lot of people who work hard for the profession and it is great to hear positive news of their efforts. Every appraiser needs to be involved. Amazing things can happen when appraisers work together for a common goal!

    Thanks VaCAP and the 27 other state organizations who are leading the way.

  2. Avatar Carl says:

    Good information. Thank you for the recap

  3. Avatar BigAl says:

    Nice summary VACAP!

  4. Encouraging summary VaCAP (seriously).

    One question though.

    “Penny Reid, (Wells Fargo) “Credit and appraisals must be independent” ”

    You were just kidding right? This particular paragon of virtue and appraisal independence (WF) is STILL causing appraisers to be blacklisted by their ‘independent agent’ CoreLogic FOR FAILURE TO HIT THE NUMBERS!!!

  5. VaCAP Board VaCAP Board says:

    There is a disconnect in what most appraisers hear and what is actually the situation. This has become more appearant with many players. The dialogue has changed and is continuing to evolve towards mutual respect for all participants.

    • Baggins Baggins says:

      Except for nearly every single order manager out there who’s all too willing to put the appraiser on the chopping block at the first hit of trouble.  Coalitions will not solve the obvious 10,000 lb gorilla in the room;  The persons in charge of distributing requests to whom is supposed to be the best independent appraiser panel member, are beholden to biased advocacy based interests of the clients.  I maintain my position that until order assignment persons are required to have appraisers licenses themselves, the record will continue to skip.  This is the major disconnect of understanding between pre hvcc and now.  Back in the day when mb’s assigned directly, they could be and eventually were held accountable w/ individual licenses themselves.  Pepsi challenge; tell me who’s performing daily order assignment doling who has an appraisers license themselves.  Not the single manager guy who does not actually do the job, I’m talking about the people who actually make the daily assignment decisions which makes or breaks appraisers businesses.

    • Just what we need VaCAP – More respect for those that are actively engaged in suppressing appraisers, circumventing USPAP and have no intention of ever paying C&R fees.

      Could not disagree with you more on this one. Citing Wells Fargo commenting on appraiser independence is an insult to every appraiser ever screwed by Rels or its successor CL at the behest of Wells Fargo.

      We have ongoing cases right this minute where appraisers are being blacklisted solely because they stood up to CoreLogic on WF deals.

      There is a huge difference between honest professional cooperation to resolve issues with sincere people; and just bending over and grabbing ones ankles and politely saying “carry on.”

      • VaCap Board VaCap Board says:

        No one is disputing there are issues. The comments we stated are the overall attitude of the atmosphere at the meetings. The quotes cited in our article are truthful. If you disagree, that is your issue, not that of those that attended the meetings and heard them first hand. Coalitions are working hard to overcome the issues by working together to make positive change. We have made huge progress and we are seeing more respect from other participants and legislators. Like we said, there is a disconnect from the top down.

        • Baggins Baggins says:

          The sad truth about the state of affairs is the industry has moved back to requiring the appraiser to either kiss up or stop by with coffee, donuts and gifts for the assignment staff if they want to stay on top of the list. Assignment preference has yet again become a popularity game.

    • Now that’s as clear as mud.

      “There is a disconnect from the top down.”

      Look, VaCAp has and is doing a fine job. Hopefully that continues, but adopting a Pollyanna attitude merely allows the bad actors to keep acting badly.

      As appraisers we have been lied to; and stabbed in the back by lenders, AMCs, regulators, FNMA, and and a host of other participants.

      Did ONE federal agency or other non appraisal group offer any words of encouragement for the Louisiana lawsuit; or suggest the FTC has far overstepped its bounds?

      • Avatar Appraiser Advocate says:

        Mike Ford: This is an article about positive change. Why are you so negative? I attended the meetings that are being discussed in the article. I like others who attended, left with a very positive feeling things were changing. Were you in attendance at any of these meetings? If not, should you even be commenting? The negativity you encourage is not helping anyone move in a positive direction and is actually counter productive to moving the profession forward.

        • Avatar Marian says:

          I completely agree! We all know what the issues are and having people go off on ancient tangents does not benefit anyone.

        • Hi Advocate,

          When people (generally-not necessarily you) start telling me they listened with interest to comments  from a Wells Fargo’s spokes person about appraisal ‘independence’ then THOSE people’s judgement comes into question (for me).

          Wells Fargo directly or through their AMC agents has been the MOST abusive I’ve seen in terms of violating appraiser independence and retaliation against appraisers that don’t play ball of ALL the major players in the US today. Their Congressional ‘experiences’ are not isolated instances of pointing out understandable “Oopses”. It is indicative of systemic corporate ‘short comings’ (being PC now).

          If I am negative ‘all the time’ it is because I deal with the negative issues on a daily basis few on here are willing to engage in (and no, I am NOT talking about Mike S. or Pat T.-I may not always agree with them but I respect their efforts).

          VaCAP got C&R fees in Virginia, and made significant headway in several other areas. Some there also strive to help other states. NC, LA, GA & IL also have or appear to have active coalitions.

          So, out of 50 states and seven territories we have four active coalitions and maybe a handful more that are trying to be? Plus the NSAO which is able to speak for around 22-28 more. I sincerely wish each the best & will support their efforts, but question where the remainder are?

          I don’t begrudge progress made, but neither do I take a pollyanna approach that we are achieving more than we are losing on a daily basis.

          Example? We have all worked for C&R fees. Virginia achieved it generally. Louisiana attempted to achieve it and is heavily involved in that fight.

          In the meantime our ‘regulators’ AMCs; banks and FNMA etc have all moved on to making us increasingly irrelevant. Initially hybrids; augmented by complete PIWs and then appraisal waivers for ‘good’ (2.5) CU scores.

          I also have copies of credible court testimony citing one California regulator  committing perjury three times about abuse of due process; another engaged in a well documented retaliatory witch hunt; and strong evidence of a third shredding work files sent to them for review (a prior state auditor finding when the current head there was merely a senior investigator; and lastly a State Bureau Head that flat out elects to reject an Administrative Law Judges’ Proposed Order when it goes 100% against his agency in favor of respondents. ASC response?

          Am I negative? You bet your ass I am…especially when that same regulator serves as a Director on the Advisory Committee to the ASC as well as to AARO.

          In the meantime Maryland’s AG continues to persecute an appraiser that they beat up procedurally in admin law court when he was deprived of a reasonable chance to obtain a lawyer to represent him; and it now turns out their reviewer flat lied about property characteristics in question and made egregious errors.

          Negative? Folks AGA is the ONLY appraisal organization (national OR state) directly challenging regulatory abuses against individual appraisers; and actively working to get appraisers wrongfully black listed reinstated.

          A certain amount of negativity is inevitable.

  6. Avatar wontobey says:

    Thanks for the info. How many State coalitions are there currently? 28?

    • VaCAP Board VaCAP Board says:

      There are 28 coalitions that are part of the Network (NSAO) More state organizations do exists, but have not joined the Network. If you are in a state without a coalition and want to create one, please reach out to us. We have many who are happy to help you get set up.  If your state organization is not part of the Network, please consider joining. info@vacaponline.com

      • Avatar wontobey says:

        Why haven’t the others joined the Network?

        • VaCap Board VaCap Board says:

          Good question. There is no crystal ball for a definitive answer. Some organizations have a different focus, some get funding from other organizations, and some organizations simply do not wish to participate. There may be other reasons, but these are some that we are aware of.

  7. Avatar Pat Turner says:

    Are you all aware of who the President of VaCap is?
    Look it up.
    Who in the United States of America has been most critical and the most vocal regarding the plight of the residential appraiser and our biggest proponent!?
    Therefore, back off. Lead, Follow, or Get the hell out of the way.
    We have now 28 states involved with our Coalitions. It is easy, it’s cheap, and it’s non productive to be negative all the time. You folks know how to contact me, so have at it!

  8. Avatar marion says:

    Who in the United States of America has been most critical and the most vocal regarding the plight of the residential appraiser and our biggest proponent!?


    ya’ll have another couple of years to catch up.


    But really,

    infighting does not help anyone. 
    Divide and conquer has always been an easy winning strategy against cats that won’t be herded.  The profession must come together, even if it means coming together in smaller groups, who then pool the talent.  There are a lot of talened people on this side of the fence.  They need our support and understanding.  We all recognize the not so nice things that have been happening to the general public in the past few years, laws that have not been enforced, equally with laws that have been over enforced and exaggerated.

    A new election cycle just passed.  We missed an opportunity to make noise, because that’s when the noise will be most effective.

    Let’s not miss another opportunity to let the people know they are being blind sided and no one they are thinking about electing, cares, as it’s not their issue – and that is not tied to one party or the other.  Both parites continue to not enforce the protection of the public, while spouting it as their platform.

    Make bigger noise.


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Who’s for Dinner?

by VaCAP Board time to read: 3 min