collapse - Appraisers Blogs https://appraisersblogs.com/tag/collapse/ Appraisal News and Tips for Real Estate Appraisers Thu, 23 Jan 2025 08:51:53 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://i0.wp.com/appraisersblogs.com/wp-content/uploads/2015/04/ABfavicon.png?fit=32%2C32&ssl=1 collapse - Appraisers Blogs https://appraisersblogs.com/tag/collapse/ 32 32 52046035 FHFA’s Appraisal Waivers Expansion https://appraisersblogs.com/appraisal-waivers-expansion-fhfa-risky-move/ https://appraisersblogs.com/appraisal-waivers-expansion-fhfa-risky-move/#comments Tue, 29 Oct 2024 12:30:03 +0000 https://appraisersblogs.com/?p=31474 The Federal Housing Finance Agency’s (FHFA) recent push to expand the use of appraisal waivers represents a concerning and potentially disastrous gambit that threatens to undermine the integrity of the housing market and the broader economy as a whole.  The recent announcement from the FHFA Deputy Director Naa Awaa Tagoe regarding the expansion of appraisal waiver eligibility for purchase loans is a significant development that has sparked debate and controversy within the mortgage industry. By increasing the maximum allowable loan-to-value (LTV) ratio for full appraisal waivers from 80% to 90%, and for inspection-based appraisal waivers from 80% to 97%, the...

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]]> https://appraisersblogs.com/appraisal-waivers-expansion-fhfa-risky-move/feed/ 30 31474 Fannie Mae to Maryland: DROP DEAD https://appraisersblogs.com/fannie-mae-2-state-of-maryland-drop-dead/ https://appraisersblogs.com/fannie-mae-2-state-of-maryland-drop-dead/#comments Fri, 19 Apr 2024 12:30:45 +0000 https://appraisersblogs.com/?p=30755 Mortgage giant Fannie Mae and her twin, Freddie Mac, have a message for the State of Maryland: Kindly disintegrate. A snubbed Maryland task force is close to filing its report to the governor. It attempted, in vain, to obtain detailed information about the government-sponsored twins’ valuation algorithms – tools that have replaced many home appraisals in the Old-Line State and resulted, some contend, in a feedback loop and run-up in home prices. The task force was formed on the reasonable premise that the state has an interest in the twins’ activities, since Marylanders will be left with the clean-up costs,...

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]]> https://appraisersblogs.com/fannie-mae-2-state-of-maryland-drop-dead/feed/ 33 30755 Has FNMA Gotten Too Big to Control? https://appraisersblogs.com/has-fannie-mae-gotten-too-big-2-control https://appraisersblogs.com/has-fannie-mae-gotten-too-big-2-control#comments Wed, 28 Jun 2023 12:30:05 +0000 https://appraisersblogs.com/?p=29673 Has Fannie Mae gotten too big to control? That was one of the many questions asked to Senators & Congressman while in Washington DC. The agreement on whether Fannie Mae has gotten too big to control was unanimous. Most believe that the company is too large and complex to be effectively managed by the government. They argue that Fannie Mae is too big to fail, and that if it were to collapse, it would have a devastating impact on the housing market. Others believe that Fannie Mae is sorta manageable, and that the government has taken steps to reduce the...

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]]> https://appraisersblogs.com/has-fannie-mae-gotten-too-big-2-control/feed/ 28 29673 Woke ‘Bounty’ Bill Will Chill Speech of New York Appraisers https://appraisersblogs.com/woke-bounty-bill-will-chill-speech-of-new-york-appraisers https://appraisersblogs.com/woke-bounty-bill-will-chill-speech-of-new-york-appraisers#comments Wed, 10 May 2023 11:45:10 +0000 https://appraisersblogs.com/?p=29427 A bill being crafted by the New York state Senate’s Finance Committee would, in effect, place a $2,000 bounty on the head of any heretical real estate appraiser in the Empire State who dares conclude a value that fails to satisfy a seller, serial refinancer or commissioned broker in a deal. Vulnerable buyers, who could be paying off inflated loans based on coerced values, would simply have to live with it. If enacted, the bill would authorize fines to be levied on appraisers for a new category of thoughtcrime – something called “appraisal discrimination.” Half the proceeds from the fines...

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]]> https://appraisersblogs.com/woke-bounty-bill-will-chill-speech-of-new-york-appraisers/feed/ 8 29427 Canadian Banks Will Exploit Gutted U.S. Mortgage Underwriting https://appraisersblogs.com/canadian-banks-will-exploit-gutted-u-s-mortgage-underwriting https://appraisersblogs.com/canadian-banks-will-exploit-gutted-u-s-mortgage-underwriting#comments Thu, 13 Apr 2023 12:30:13 +0000 https://appraisersblogs.com/?p=29251 Canadian banks see the newly dismantled underwriting safeguards and risk-shedding experiments at Fannie and Freddie as a way to keep the party going, with the risk passed along to the U.S. taxpayer directly… Canada’s banks are in trouble. Their mortgage portfolios are filled with time-bombs called “fixed-payment” mortgages. Despite the name, the loans contain rate-hike triggers that are causing payment shocks for borrowers. High interest rates and falling home values mean borrowers north of the border aren’t able to refinance out of these toxic mortgages. Short sellers are even targeting one Canadian bank, Toronto-Dominion Bank, better known as TD Bank....

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]]> https://appraisersblogs.com/canadian-banks-will-exploit-gutted-u-s-mortgage-underwriting/feed/ 13 29251 We the People… https://appraisersblogs.com/we-the-people-need-2-protect-the-consumer-from-mortgage-lending https://appraisersblogs.com/we-the-people-need-2-protect-the-consumer-from-mortgage-lending#comments Sun, 09 Apr 2023 12:30:40 +0000 https://appraisersblogs.com/?p=29224 We the people need to redirect the mortgage lending direction… The time for every appraiser and consumer to step up is now. This country was founded on the principle of “We the people”. Please sign this petition and share it everywhere.  Appraisers have been the target for blame for everything gone wrong in the mortgage lending world. We were blamed for the Savings and Loan collapse, the financial crisis of 2008, and appraisal bias and racial discrimination. Appraisers have even been the target on loans gone bad after several years on payments. Yep, we have been the target and have...

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]]> https://appraisersblogs.com/we-the-people-need-2-protect-the-consumer-from-mortgage-lending/feed/ 26 29224 Racial Targeting Under the Heading of Diversity, Equity & Inclusion https://appraisersblogs.com/racial-targeting-masked-as-a-virtue-under-the-heading-diversity-equity-n-inclusion https://appraisersblogs.com/racial-targeting-masked-as-a-virtue-under-the-heading-diversity-equity-n-inclusion#comments Thu, 18 Aug 2022 12:30:18 +0000 https://appraisersblogs.com/?p=27626 This time around, the racial targeting is masked as a virtue under the heading “Diversity, Equity and Inclusion,” or “DEI.” Valuation Jiu-Jitsu Will Lead to Future Addie Polks Addie Polk was a 91-year-old African-American widow who shot herself in the chest in 2008 during a Fannie Mae-initiated eviction in Akron, Ohio. It marked the low point in Fannie’s embrace of toxic mortgages. Fannie, now in federal conservatorship, bought or guaranteed subprime loans made to vulnerable borrowers in the years leading up to the 2007-2008 financial crisis. There are now signs of new abuses. Under the banner “equity and inclusion,” some...

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]]> https://appraisersblogs.com/racial-targeting-masked-as-a-virtue-under-the-heading-diversity-equity-n-inclusion/feed/ 22 27626 Fannie’s ‘Equity’ Plan: The Drinking Game https://appraisersblogs.com/fannie-mae-equity-plan-the-drinking-game https://appraisersblogs.com/fannie-mae-equity-plan-the-drinking-game#comments Thu, 07 Jul 2022 12:30:07 +0000 https://appraisersblogs.com/?p=27346 What makes equity so invidious as a governing tenet is that it involves not just helping people of one racial or cultural group but it has the effect of knocking struggling members of disfavored groups out of the game. One type of parlor game relies on players’ ability to maintain their memory, logic and articulation – all while getting blotto. These alcohol-fueled “think and drink” games are highly challenging. Even Britain’s royal family engages in such diversions if Netflix’s “The Crown” is to be believed. The games have names like “Bizz Buzz,” “Ibble Dibble,” “Never Have I Ever” and “Roman...

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]]> https://appraisersblogs.com/fannie-mae-equity-plan-the-drinking-game/feed/ 32 27346 The Black Swan – Another Meltdown https://appraisersblogs.com/white-swan-predicts-another-meltdown-next-recession-inevitable https://appraisersblogs.com/white-swan-predicts-another-meltdown-next-recession-inevitable#comments Tue, 06 Aug 2019 12:30:47 +0000 http://appraisersblogs.com/?p=22494 Another Meltdown – The Inevitable Outcome of a White Swan: Why would we allow another Financial Meltdown to occur? …When revenues and profits decline, lenders and financial institutions throw caution to the wind and relax their once prudent lending policies in favor of more aggressive, inclusive policies… Hindsight has taught us that there is no serious consequence to imprudent lending policies. Perhaps a multi million dollar fine is assessed but that is just the small cost of doing business for some violators… Though more common now, especially in Australia, Europe, and  Asia, black swans (Cygnus atratus) were once thought to...

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]]> https://appraisersblogs.com/white-swan-predicts-another-meltdown-next-recession-inevitable/feed/ 10 22494 Criminal Charges https://appraisersblogs.com/criminal-charges-against-brian-coester https://appraisersblogs.com/criminal-charges-against-brian-coester#comments Mon, 27 Aug 2018 12:30:26 +0000 http://appraisersblogs.com/?p=19059 Criminal Charges Brought Against AMC Owner VaCAP has been informed that AMC owner Brian Coester, of Coester Valuation Management Services (VMS), has new criminal charges filed against him. We have confirmed these charges through the court system public access system: Maryland Judiciary Case Search Criteria Below is a list of 19 court cases found under the name Brian Coester: Is Another Financial Scare on the Horizon? George Will, Washington Post Writers Group, has an interesting column in entitled “America is overdue for another Lehman-Like Episode”. In this article he stated that the stock market has enjoyed its longest-ever bull run. The...

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]]> https://appraisersblogs.com/criminal-charges-against-brian-coester/feed/ 33 19059 BPOs ‘Made in India’ https://appraisersblogs.com/bpo-outsourced-2-india-replacing-appraisals https://appraisersblogs.com/bpo-outsourced-2-india-replacing-appraisals#comments Tue, 23 Jan 2018 13:30:11 +0000 http://appraisersblogs.com/?p=16301 $10 a pop ‘Made in India’ BPO… When saying you’re 'sari' just won’t do. The Blackstone Group is nothing short of legendary. To say it is a 'Big Deal' is an understatement squared. A little background from their website. “Who We Are Our investments are designed to preserve and grow our limited partners’ capital, provide financial security for millions of retirees, sovereign wealth funds, and other institutional and individual investors, and contribute to overall economic growth.” An honorable & worthy objective by any measure. Helping retirees on fixed income, little old ladies, grandmothers and mothers, albeit wealthy ones I’d guess. Sovereign...

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]]> https://appraisersblogs.com/bpo-outsourced-2-india-replacing-appraisals/feed/ 27 16301 Modernizing Appraisals & Being Stuck in 1989 https://appraisersblogs.com/modernizing-appraisals-hearing-summary https://appraisersblogs.com/modernizing-appraisals-hearing-summary#comments Thu, 17 Nov 2016 13:30:44 +0000 http://appraisersblogs.com/?p=12865 Modernizing Appraisals: It seems we’re stuck in 1989… On November 16, 2016, the Housing and Insurance Subcommitte held a hearing on “Modernizing Appraisals: A Regulatory Review and the Future of the Industry.” Subcommittee discussed modernizing appraisals to benefit American consumers. The hearing focused on necessary changes to the appraisal industry. Subcommittee Chairman Blaine Luetkemeyer (R-MO) explained: “Appraisals are one of the cornerstones of the home-buying process. Issues that impact appraisers also impact nearly every American buying or selling a home, in rural and urban areas; in high- and low-income neighborhoods. Yet when it comes to the regulatory regime surrounding appraisals,...

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]]> https://appraisersblogs.com/modernizing-appraisals-hearing-summary/feed/ 46 12865 Greed Takeover Coming Soon https://appraisersblogs.com/greed-takoever-institutional-memory https://appraisersblogs.com/greed-takoever-institutional-memory#comments Mon, 18 Jul 2016 12:30:03 +0000 http://appraisersblogs.com/?p=12167 Basic greed and institutional memory I am amazed how many times in my lifetime I have seen the past repeat itself. Beginning in the 1970’s, I have witnessed one form of financial meltdown after another, each occurring almost precisely 10 years after the last. I once had a wonderful professor who explained that the seemingly inevitable repetition of the past was based on numerous, very different factors, but with two factors appearing in virtually every case. The two “alpha” factors are (1) basic greed and (2) institutional memory. Basic greed is when one group of people is willing to compromise...

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]]> https://appraisersblogs.com/greed-takoever-institutional-memory/feed/ 14 12167 Haven’t We Learned Our Lesson? https://appraisersblogs.com/lesson-learned-lessons-lost-market https://appraisersblogs.com/lesson-learned-lessons-lost-market#comments Mon, 02 May 2016 12:30:49 +0000 http://appraisersblogs.com/?p=11884 Lesson Learned or Lessons Lost? Many have heard me say that we should expect a large market correction around 2019-2020. Some agree, some think it will be sooner, and I am sure there are some that don’t think it will happen again because we learned our lesson. There are a ton of factors that drive it so it’s not an easy thing to predict. The good news is most agree that there will be one, we just don’t know when. We have not learned our lesson and the lesson will be repeated. I’ll share my 2 cents on this and...

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]]> https://appraisersblogs.com/lesson-learned-lessons-lost-market/feed/ 12 11884 AMC’s “My Way or the Highway” Attitude https://appraisersblogs.com/appraisal/my-way-or-the-highway-attitude-of-amcs/ https://appraisersblogs.com/appraisal/my-way-or-the-highway-attitude-of-amcs/#comments Wed, 19 Aug 2015 12:30:07 +0000 http://appraisersblogs.com/?p=8601 Apparent appraiser abuse by AMC’s… As Chairman of the American Guild of Appraisers (AGA) National Appraiser Peer Review Committee, I have had the opportunity to see and hear directly about many cases involving alleged, as well as apparent appraiser abuse by AMC’s. These cases ranged geographically from California, Arizona, Michigan, Illinois, Florida, North Carolina, Louisiana, New Jersey, Virginia, New York, Maryland, and District of Columbia. As a QC consultant to a smaller appraiser owned AMC, I have also seen low fee spreadsheets from a variety of lenders that had 90% listed at the SAME APPRAISER fees: $495.00 (which INCLUDED the AMC...

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]]> https://appraisersblogs.com/appraisal/my-way-or-the-highway-attitude-of-amcs/feed/ 47 8601 Mortgage Lending a Lot Like Musical Chairs https://appraisersblogs.com/appraisal/deja-vuall-over-again/ https://appraisersblogs.com/appraisal/deja-vuall-over-again/#comments Tue, 24 Feb 2015 13:30:47 +0000 http://appraisersblogs.com/?p=7022 Mortgage Lending – Déjà Vu…All Over Again Philosopher George Santayana once said, “Those who cannot remember the past are condemned to repeat it”. In light of recent actions in the mortgage lending industry, we all may be able to experience the thrill ride of 2007-2009 all over again…soon. You may wonder what actions I am referring to so let me share a brief list of what I will call the top ten contributing factors to the downturn I see happening by July of 2017. By 2017 it will have been 10 years since the start of the last collapse in the...

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]]> https://appraisersblogs.com/appraisal/deja-vuall-over-again/feed/ 5 7022 Are the Inmates in Charge of this Asylum? https://appraisersblogs.com/appraisal/are-the-inmates-in-charge-of-this-asylum/ https://appraisersblogs.com/appraisal/are-the-inmates-in-charge-of-this-asylum/#comments Fri, 19 Sep 2014 12:30:05 +0000 http://appraisersblogs.com/?p=6563 What really caused the real estate market to collapse? While much has been written about the multitude of complex reasons behind the collapse of the real estate market in 2007, it is the opinion of this writer that there is one primary reason for the collapse. Simply stated, banks loaned money to borrowers who lacked the ability to pay back the loan. That’s it, pure and simple. If you loan money to someone who has no resources to pay back your loan, you will lose money almost every time and it matters very little if you have any collateral for...

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]]> https://appraisersblogs.com/appraisal/are-the-inmates-in-charge-of-this-asylum/feed/ 2 6563 Appraisers Furious at Fraud by their Peers https://appraisersblogs.com/appraisal/why-are-appraisers-furious-at-fraud-by-their-peers-while-corporate-lawyers-are-complacent/ https://appraisersblogs.com/appraisal/why-are-appraisers-furious-at-fraud-by-their-peers-while-corporate-lawyers-are-complacent/#comments Mon, 28 Oct 2013 12:30:56 +0000 http://appraisersblogs.com/?p=5253 Why are Appraisers Furious at Fraud by their Peers while Corporate Lawyers are Complacent? I have done a series of articles about the efforts of honest appraisers (which began in 2000) and loan brokers to alert the lenders, the markets, and the government to the twin fraud epidemics (appraisals and “liar’s” loans) committed by lenders’ controlling officers that drove the financial crisis. Honest appraisers could have profited greatly by becoming dishonest appraisers who would be given the lucrative assignments by fraudulent lenders’ controlling officers and their agents. Instead, honest appraisers suffered serious losses of income because they refused to succumb to...

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]]> https://appraisersblogs.com/appraisal/why-are-appraisers-furious-at-fraud-by-their-peers-while-corporate-lawyers-are-complacent/feed/ 1 5253