Real Property Appraiser - Appraisers Blogs

Is a Horde of Deadbeat Borrowers Again Walking Among Us?

Jeremy Bagott — Mon, 04 Nov 2024 13:30:44 +0000

There are signs of a new horde of deadbeat borrowers, but the foreclosure filings are being delayed and masked by the government itself. Some of the current deadbeat borrowers will learn to expertly work the system… In 2022, a San Ramon, California, couple who hadn’t made a mortgage payment since 2009 was finally evicted. Anita and Mahesh Khurana had put on a masterclass in the use of the courts to keep foreclosure at bay. The holdouts had lived in their home payment-free for 13 years. A state court finally ruled they had exhausted all appeals, and they were ejected. In...

Fannie Mae to Maryland: DROP DEAD Mortgage giant Fannie Mae and her twin, Freddie Mac, have a message for the State of Maryland: Kindly disintegrate. A…
Objectionable Valuations Become Hate Speech,… The censorship, scapegoating and sidelining of appraisers has done real damage to borrowers and the purchasers of bonds... Attacks on…
FHFA's Appraisal Waivers Expansion The Federal Housing Finance Agency's (FHFA) recent push to expand the use of appraisal waivers represents a concerning and potentially…

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Stoked by HUD, Cottage Industry Shakes Down Mom-and-Pop Appraisers

Jeremy Bagott — Fri, 06 Sep 2024 12:30:11 +0000

The harassment campaign benefits a number of odd bedfellows: the housing lobby, which wants unfettered access to federal funds and taxpayer-backed mortgage guarantees through Freddie, Fannie and the FHA – they see appraisals as an unnecessary bottleneck. A firm called Mizrahi Kroub is the largest filer of so-called “digital Americans with Disabilities Act lawsuits.” The New York law firm files about a quarter of all such cases nationwide, according to a provider of web-accessibility services. The firm, which employs nine lawyers, has brought more than 1,100 web-accessibility cases against small businesses for missing alt-text, incorrectly formatting lists or providing unclear...

Misleading Ads Sow Mistrust These misleading ads are sowing seeds of mistrust in a time-tested profession. The National Fair Housing Alliance (NFHA) has recently…
Objectionable Valuations Become Hate Speech,… The censorship, scapegoating and sidelining of appraisers has done real damage to borrowers and the purchasers of bonds... Attacks on…
Using Discrimination As a Bully Tactic As an appraiser who has been appraising in rural south for 20 years I have seen a few things. This…

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Objectionable Valuations Become Hate Speech, Inflating Home Prices

Jeremy Bagott — Wed, 21 Aug 2024 12:30:33 +0000

The censorship, scapegoating and sidelining of appraisers has done real damage to borrowers and the purchasers of bonds… Attacks on free speech are on the rise in the English-speaking world. A bill introduced in Canada to thwart online “anarchy and lawlessness” would create a Canadian Ministry of Truth empowered to punish authors Ottawa politicians find problematic. In response to the worst rioting in Britain in years, about 4,000 people have reportedly been jailed for online thought crimes. U.K. Prime Minister Keir Starmer has vowed to prosecute anyone his government believes is whipping up people’s emotions on the Internet. There’s even...

HUD's Private Inquisitors Will Chill Protected… HUD awarded $54 million to 182 nonprofits to serve as posses in a a Spanish Inquisition-style drive. The deep pockets…
The Censorship of Appraisers Thirty-seven hours after President Biden took the oath of office, White House officials met with executives at social media companies.…
Biden's Remark on Home Values Sparks Backlash President Biden's recent comment about the discrepancy in home values between Black and white families has sparked backlash on social…

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The Censorship of Appraisers

Jeremy Bagott — Thu, 11 Apr 2024 12:30:46 +0000

Thirty-seven hours after President Biden took the oath of office, White House officials met with executives at social media companies. The officials threatened restraint-of-trade lawsuits and regulatory action if the companies failed to censor what the White House deemed “misinformation.” In a parallel development, we can now connect the dots that similar talks occurred among White House officials, employees of government-sponsored mortgage giants Fannie Mae and Freddie Mac and private vendors to throttle the protected speech of individuals and firms in the mortgage industry engaged specifically for their independence. The latter serve as bulwarks in federally backed mortgage transactions. In...

The Nightmarish End of Home Appraisals In his 1946 essay “Politics and the English Language,” the late British novelist, essayist and critic George Orwell examined the…
The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…
Fannie Mae Fraud and Abuse Exposed History of waste, fraud & abuse at this rogue organization... Fannie Mae reported this week it had fired more than…

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At Federal Agency, The Mayhem Is the Message

Jeremy Bagott — Fri, 29 Mar 2024 12:30:13 +0000

Mullinix has become a student of the “Title VIII Complaint Intake, Investigation, and Conciliation Handbook (8024.1).” The handbook is designed to protect citizens from overzealous federal workers. He found section after section had been violated in his own investigation by the HUD contractor. Czech-German author Franz Kafka wrote “The Trial” in 1915. The novel is a reflection on bureaucracy, power and absurdity. Its protagonist, Josef, is arrested and prosecuted by a mysterious and inaccessible authority for a crime that is never revealed to him or the reader. It’s a man’s journey through an incomprehensible and dehumanizing landscape. Ken Mullinix has...

False Claims of Racism Against Appraiser ...my career, business, and health at risk due to false claims made by a homeowner. As a professional real estate…
HUD's Use of Convicted Felons to Ramp Up… It wants to bootstrap released felons by allowing them to work as so-called “fair-housing testers” for the many nonprofits HUD…
Maxine Waters Wants Appraisers Investigated On February 22, 2022, Maxine Waters sent a letter to HUD Secretary Marcia Fudge, TAF, ASC and AI regarding ongoing…

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Finding of Bias in Home Valuations Fails by Own Measure

Jeremy Bagott — Mon, 14 Aug 2023 12:30:32 +0000

To the surprise of no one, their redacted study found that what Perry et al. had characterized as race-based differences in home valuations were almost entirely due to socio-economic status, not racial bias by real estate appraisers. In an updated refutation of the findings of Brookings Institution researcher Andre Perry, Edward Pinto and Tobias Peter of the AEI Housing Center demonstrated just how broken the Brookings research was. Perry’s 2018 research, titled “The Devaluation of Assets in Black Neighborhoods,” pinned the nation’s racial wealth gap on 80,000 state-licensed real property appraisers. Unfortunately, these now-discredited findings have been levered by housing-industry...

The Real Cause of the Home Value Gap Is the Income Gap Blaming appraisers for the income gap will never solve the real underlying problem... Blaming appraisers for the income gap is…
Freddie's Study, NPR Story Recall Notable Academic Hoax NPR topped the online edition of its article with the headline, “Black and Latino Homeowners are About Twice as Likely…
USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…

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Are the Courts a Remedy for Nation’s Financial Truth-Tellers?

Jeremy Bagott — Fri, 28 Apr 2023 12:30:55 +0000

Politicized boards and commissions with little accountability to the electorate want to deplatform these truth-tellers at every turn. This month, the U.S. Supreme Court dealt a blow to the Regulatory State. Financial analysts, fiduciaries, auditors and appraisers should take heart. Those targeted by a growing number of independent agencies, boards and commissions may now immediately challenge an agency’s constitutionality in federal court without having to submit to a drawn-out administrative process that frequently serves only the interests of the agency being challenged. The decision couldn’t have come soon enough, as an army of assorted technocrats, believers, grand viziers, cronies, hustlers...

HUD's Private Inquisitors Will Chill Protected… HUD awarded $54 million to 182 nonprofits to serve as posses in a a Spanish Inquisition-style drive. The deep pockets…
HUD Secretary's Comments Evoke Folly of 1919 Sex Scandal Secretary Fudge launched into what sounded remarkably like discriminatory rhetoric: "The problem is who is in the appraisal industry. When…
Fannie's Loan Buyback Sophistry Relies on Modifying… “Many of the repurchase letters make no sense,” said the insider. If analysts don’t write enough defects on those files,…

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Certified Appraisers vs. Unlicensed Data Collectors

Jonathan Miller — Tue, 25 Apr 2023 12:30:09 +0000

Here’s a great take on the difference between Certified Appraisers vs. Unlicensed Data Collectors by Leigh Brown, President of the NC Association of REALTORS. Fannie Mae has been working hard to get rid of appraisers for years. Their latest twist is to re-categorize many appraisers as “Unlicensed Data Collectors.” Fannie Mae will end up creating more instability for the trillions in the bond market – investors will have to process millions of valuations with the physical attributes of the home collected by unlicensed, uninsured, and unprepared individuals getting paid $10-$25 per inspection. AI meets with Fannie Mae regulators to...

The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…
The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…
The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…

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HUD’s Private Inquisitors Will Chill Protected Speech of Appraisers

Jeremy Bagott — Mon, 03 Apr 2023 12:30:14 +0000

HUD awarded $54 million to 182 nonprofits to serve as posses in a a Spanish Inquisition-style drive. The deep pockets of the federal government will be used to help the nonprofits chill the protected First Amendment rights of appraisers to develop disinterested opinions of value of the properties they appraise. In the early 1990s, the Texas Legislature established an unusual nonprofit known as the Boll Weevil Eradication Foundation. The times were dire. A near-biblical plague of weevils had descended on the state’s cotton crop. So, state lawmakers granted the private organization the powers of government to combat the malevolent creatures....

HUD Dismisses Claims Alleging Racism ...white America (government) keeps trying to 'fix' Black People who are not broken in the first place! We’ve all heard…
HUD Secretary's Comments Evoke Folly of 1919 Sex Scandal Secretary Fudge launched into what sounded remarkably like discriminatory rhetoric: "The problem is who is in the appraisal industry. When…
HUD ROV Process to Address 'Appraisal Bias' At a recent event at the Brookings Institute, HUD Secretary Marcia L. Fudge announced that HUD is creating a ROV…

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AQB Initial Fair Housing Course

AppraisersBlogs — Thu, 23 Mar 2023 12:30:54 +0000

Mandatory completion of an initial fair housing course lasting 7 hours by January 1st 2025, as well as 4 additional hours every renewal cycle thereafter. Recently, the Appraiser Qualifications Board (AQB) has proposed new requirements for those looking to become an appraiser or renew their certification/license. These include mandatory completion of an initial fair housing course lasting seven hours by January 1st 2025, as well as four additional hours every renewal cycle thereafter if this becomes standard practice. The following is taken right out of the new exposure draft on real property appraiser qualifications criteria. “The core goal is to...

Truisms - Taxes, Death... and Bias Training ...other states will also modify their appraisal license renewal CE class requirements to include some form of anti-bias training... Folks,…
I've Retired & I'm So Glad I Did What we got, was 30+ years of complaints from the lenders and politicians who blamed appraisers for all of the…
Two Cheers for an 'Evolved' Beltway Entrepreneur...… We come not to bury David Bunton, the public figure, but to praise David Bunton, the evolved Beltway organism. Who…

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Freddie’s Study, NPR Story Recall Notable Academic Hoax

Jeremy Bagott — Tue, 28 Feb 2023 13:30:45 +0000

NPR topped the online edition of its article with the headline, “Black and Latino Homeowners are About Twice as Likely as Whites To Get Low Appraisals.” The problem? Freddie never called the appraisals “low.” While the Freddie Mac study finds no evidence of undervaluation, the NPR story about the study somehow does. Almost 30 years ago, Alan Sokal, now a professor of mathematics at University College London, perpetrated a memorable hoax. He submitted a pseudoscientific article to a cultural studies journal called Social Text. By design, his paper was strewn with nonsense. Titled “Transgressing the Boundaries: Towards a Transformative Hermeneutics...

The Real Cause of the Home Value Gap Is the Income Gap Blaming appraisers for the income gap will never solve the real underlying problem... Blaming appraisers for the income gap is…
Racial Targeting Under the Heading of Diversity,… This time around, the racial targeting is masked as a virtue under the heading “Diversity, Equity and Inclusion,” or “DEI.”…
Fannie's 'Equity' Plan: The Drinking Game What makes equity so invidious as a governing tenet is that it involves not just helping people of one racial…

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Appraisers Should Closely Watch Probe of Departed Brookings Boss

Jeremy Bagott — Thu, 14 Jul 2022 12:30:16 +0000

The chief of the Brookings Institution, a retired four-star general, resigned last month under investigation of lobbying on behalf of a foreign government and then covering it up. If the allegations are true, it means the think tank, under the general’s watch, was secretly taking illicit cash from at least one outside interest group at a time it was engaged in research that irreparably damaged the reputation of the nation’s real estate appraisers. Astute appraisers wondered whether Brookings might have also been influenced by any well-placed donations from other groups, such as the powerful lobbies of the Realtors, home builders,...

Racial Bias Claims Without Proof or Logic The Appraisal Institute just sent a letter to The Appraisal Foundation to address things that have been floating out in…
Racial Bias in Real Estate: Is it the Appraisers’ Fault? In the past year, the appraisal industry has been under attack from various academics who claim “racial bias” on the…
HUD ROV Process to Address 'Appraisal Bias' At a recent event at the Brookings Institute, HUD Secretary Marcia L. Fudge announced that HUD is creating a ROV…

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AQB Qualifications Criteria Changes

Dave Towne — Mon, 26 Feb 2018 13:30:48 +0000

Folks, I wanted to wait to send info about this until the AQB actually published a document showing the actual ‘new’ Qualifications Criteria for Real Property Appraisers. When first announced a few days ago, no official document was posted – only a news release. These take effect May 1, 2018. See the attached 4 page PDF. Due to ‘states rights’ issues in 54 jurisdictions (states & territories), implementation may not actually happen on 5/01/18. The document says this: “Because state appraiser regulatory agencies are only required to adopt minimum AQB Criteria, it is crucial that candidates contact their state to determine if the state intends...

Competition & Joe Above-Average The appraisal profession is in competition with other professions Ask any appraiser nowadays, and they can give you numerous details…
AQB Moving Like a Turtle Appraiser Qualification Board moving like a turtle in solving how to get more people into the appraisal profession. I recently…
Experience Requirements Reduced Sometimes the only substitute for experience, ...is more experience. Dear Mr. Traynor: The American Guild of Appraisers has long been…

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AQB Moving Like a Turtle

Dave Towne — Wed, 30 Nov 2016 13:30:16 +0000

Appraiser Qualification Board moving like a turtle in solving how to get more people into the appraisal profession. I recently returned from a trip to Maui, Hawaii. While there, we saw two beaches where the ‘famous’ green sea turtles were lounging around during the day. Kinda reminded me of how slowly the Appraiser Qualification Criteria (AQB) is reacting to the near shut-off in getting new and younger people into our business. AQB didn’t take real constructive action at their Nov. 18, 2016 public meeting, but they did provide this riveting synopsis of what they did do during the meeting: On...

Appraisers Just Say No to Certain Assignments From… Some appraisers just say no and refuse to do assignments for low echelon AMCs fishing for cheapest and fastest appraisers...…
Licensed Residential Appraiser Response to Appraiser… Licensed Residential Appraiser out of work! I find it hard to believe that there is a shortage of appraisers when…
Appraisers Shortage? A Personal Story Very large lender who treats appraisers poorly... I received an email from an AMC I have not worked for before…

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Modernizing Appraisals & Being Stuck in 1989

AppraisersBlogs — Thu, 17 Nov 2016 13:30:44 +0000

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,...

Appraisers Are NOT Invited! "No room” for any additional expert witnesses representing appraisers' interests... Who are the Valuation Professionals? Appraisers are unbiased and impartial…
Real, Real Estate Reform Needed What a crazy system we have grown into since Dodd-Frank. All this talk about “Big Data” and “Standardization” makes me…
Appraisal Profession Decimated by AMCs The Appraisal Profession & Appraiser's Business Decimated by the Increasing Dominance of Appraisal Management Company Services (AMCs) For the past…

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AQB Proposed Background Checks Focus on ‘Public Trust’

AppraisersBlogs — Wed, 17 Dec 2014 13:30:23 +0000

The Appraiser Qualifications Board of The Appraisal Foundation on Dec. 2 released a new exposure draft of proposed revisions to the 2015 Real Property Appraiser Qualification Criteria. Among the revisions is a requirement that all applicants for real property appraiser credentials have a background that does not call into question public trust. To meet that requirement, applicants must provide state appraiser regulatory agencies with all information and documentation necessary for a jurisdiction to determine an applicant’s fitness for licensure. An applicant will not be eligible for an appraiser credential if they have been convicted of or pleaded guilty or nolo...

It’s Time to Take Out the Junk: AMC Practices Exposed Appraisers have spent years carrying the weight of broken AMC practices, and this article pulls every one of those practices…
USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…
Desktop Appraisals: Has The Devil Infiltrated The… Are desktop appraisals with third-party inspectors protecting the public, or are these products about to destroy the very profession I…

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Real Property Appraiser - Appraisers Blogs

Is a Horde of Deadbeat Borrowers Again Walking Among Us?

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Stoked by HUD, Cottage Industry Shakes Down Mom-and-Pop Appraisers

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Objectionable Valuations Become Hate Speech, Inflating Home Prices

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The Censorship of Appraisers

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At Federal Agency, The Mayhem Is the Message

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Finding of Bias in Home Valuations Fails by Own Measure

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Are the Courts a Remedy for Nation’s Financial Truth-Tellers?

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Certified Appraisers vs. Unlicensed Data Collectors

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HUD’s Private Inquisitors Will Chill Protected Speech of Appraisers

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AQB Initial Fair Housing Course

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Freddie’s Study, NPR Story Recall Notable Academic Hoax

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AQB Qualifications Criteria Changes

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AQB Moving Like a Turtle

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