It should amaze everyone the only so called “experts” are always a group of individuals, who have no front line experience and have a predisposed bias before the meeting even begins. They rely on opinions they want to believe and not what may actually be happening. Look it, does some bias exist? Without a doubt. Is it rampant to the degree all appraisers are racist, especially “older white” appraisers? There is no legal evidence of that, just unsupported innuendo, so NO. Look it, we all know there are bad players in every class of individuals, professions and politics that should be investigated as vigorously as appraisers are but they are not. Has no one wondered why? There is an agenda here that makes no sense unless there is a desired outcome. Using racism is a convenient and effective vehicle to achieve that outcome. I’ll leave it to the reader to figure that out. Shouldn’t be too difficult.

Purchase share jumps in GSEs’ appraisal waivers
By Bonnie Sinnock
January 03, 2025, 2:49 p.m. EST
1 Min Read

The share of homebuyer mortgages with appraisal waivers sold to the government-sponsored enterprises rose to a high for the year as 2024 came to a close, and further acceleration is likely.

https://www.nationalmortgagenews.com/news/purchase-share-jumps-in-gses-appraisal-waivers

better make that time adjustment…

https://jesserivera.com/appraisal-waivers-explained/

the broker will estimate the value…what could go wrong…you may never see home prices so low again…i cant stop laughing

Enjoy certainty on appraised value with freedom from representations and warranties (reps & warrants) on property value for eligible appraisals with CU risk scores of 2.5 or lower as part of Day 1 Certainty®.

Using CU’s advanced search capability to segment appraisals by risk may lead to more efficient reviews, reduced loan cycle times, and enhanced QC processes to improve overall appraisal quality.

Leveraging CU to address appraisal deficiencies may reduce repurchase risk and enable lenders to attain rep & warrant relief on appraisals with elevated risk scores.

Unparalleled data and analytics provide market-specific analysis for relevant, meaningful results

https://singlefamily.fanniemae.com/applications-technology/collateral-underwriter

what was the CU score?

Musk wants to do away with the CFPB

The hits keep on coming. An appraiser just asked for help in an older thread. FNMA forcing a repurchase and subsequent state complaint because appraiser cross comped across a school district boundary a half mile away.

Summary; https://en.wikipedia.org/wiki/The_Century_of_the_Self
Sure. Directed consumerism… The medium of the message is more influential than the message itself. All wars are bankers wars. Planned obsolescence, the light bulb conspiracy.

Check this out. FHFA among highest paid federal agencies. Automating away 40,000 mortgage lending appraisers. Your tax dollars, hard at work.
https://www.zerohedge.com/personal-finance/these-are-us-government-agencies-highest-paid-employees

https://www.youtube.com/watch?v=eJ3RzGoQC4s

cigar sent me that.

Just drew this up today for another post. People and companies whom repeat this fictitious ‘appraisal bias’ line are evil villains whom would sell honest people out to rake an extra dollar for themselves. They know the premise of racist appraisers is patently false but they play along anyways. Image.

do not include an invoice or do not proceed if value…shows you what kind of criminals the independent appraiser has to deal with…and well anyways do not low ball

https://brownstone.org/articles/every-bureaucrat-destroys-138-jobs/
Every federal regulator stifles or compromises on average 138 American jobs, every single year. / Peter St Onge.

How many people work at FHFA whom have purposefully destroyed the residential appraisal industry which focused on mortgage lending? As they’ve destroyed 40,000 jobs, I suspect the ratio is much higher for appraisers.

I’m saving paper and have been re using old workfiles instead of using new paper for a few years now. How remarkable the diversity of clients we used to work with, before amc’s. And how many more lenders and small scale outfits there used to be. The ordering people were human, they cared, said thank you, asked appraisers valid questions that had nothing to do with fee and turn times. Then every now and then I go through an old amc order. On top of the multi page scope of work, always there were two bold statements in every amc order; DO NOT PROCEED if the appraiser believes value can not be met (or variants of that language), and DO NOT INCLUDE YOUR INVOICE in the appraisal report, no exceptions.

In retrospect seems obvious that the amc’s were a tool for some of the largest lenders to strangle or consolidate their competition. I used to simply print out lengthy lists of lenders approved in my state, send them a fax and a flyer or email in the later years, and had unlimited working opportunity. My sales pitch would be quality over quantity, that sort of thing, and I’d always make the sale. There was also more careful handling of consumers when generating loans, many of the direct communications with mortgage brokers or staff whom would order the appraisals often included emphasis on consumer safety and sound valuation service with appropriate two way communication, rather than the now dominating amc model of preference for efficiency and profit above all else, prohibitions on being honest with the consumers and lenders the appraiser was providing services to.

Pulling out an old meme for this one.

The fact that agents and lenders know there is an appraisal helps curtail fraud. So it is not surprising that most appraisals are at or above the contract price. Remove the appraiser and the appraisal and all hell will break loose.

Public comments on appraisal bias accepted until February 8

Washington, DC – The Appraisal Subcommittee (ASC) hosted its first ever public Hearing on Appraisal Bias this week, bringing together Federal agencies, experts from across the mortgage lending and appraisal industries, researchers, and consumers to work toward the fair and accurate valuation of homes for all Americans.

“As the Federal agency charged with oversight of the appraisal regulatory system, we have grown increasingly concerned about the stories of bias that have circulated in the national media in the past several years, as well as recent studies on the topic. The ASC is also very concerned about the lack of diversity among appraisers and the excessive barriers to entry that likely deter entry into the profession, particularly for people of color.” ASC’s Executive Director Jim Park said at the Hearing.

“The ASC has made these issues a cornerstone of its work. We are using the authority we have at our disposal to highlight appraisal bias and address the lack of diversity in the profession.”

U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge delivered opening remarks. Secretary Fudge noted that the overarching goal of the continued work on appraisal bias remains establishing the kind of change that can help “all families, in all neighborhoods, have a better chance at building generational wealth.”

The Hearing featured witness testimony from Dr. Junia Howell of the University of Illinois Chicago, homeowners Tenisha Tate-Austin and Paul Austin, Michael Fratantoni, Chief Economist, Senior Vice President, Research and Industry Technology of the Mortgage Bankers Association, and Craig Steinley, President of the Appraisal Institute. Witnesses reflected on their professional and personal experiences with appraisal bias and provided suggestions to the assembled panel on how to best address this complex and multifaceted issue.

Representatives from all seven agencies comprising the ASC Board asked questions of the witnesses with a focus on the consumer experience, the barriers to entry in the appraisal profession, and the impact on the market.

“It won’t be easy – and nothing worthwhile ever is – but by working together, I’m hopeful we’ll find solutions to these longstanding problems,” Park said. “No one should have to hide who they are to obtain a credible appraisal that is independent, non-bias and performed in a competent manner.”

https://aaro.net/News/ASC-Public-Hearing-on-Appraisal-Bias-Brings-Togeth

cant you see…oh cant you see…what the regulators have done to me

Reach out and see if they need a retro appraisal for possible litigation purposes. Charge enough to do a textbook quality appraisal.

the evidence locker is unbelievable…hollywood could not make up a script like that

The criminals who brought you Northeast Ohio’s housing crisis: Where are they 10 years later?

Lavon Ruderson

Ruderson appraised properties beyond their real market value. This allowed Wilson and straw buyers to get the extra money from the loans for their own use.

Ruderson appraised several homes on Cleveland’s East Side for $80,000 to $95,000, though the homes were worth half that amount. The scheme involved 28 properties, and loan companies lost nearly $2 million.

A federal judge sentenced Ruderson, 47, to more than five years in prison after a jury found her guilty. She is set to be released next year.

https://www.cleveland.com/metro/2017/06/the_criminals_who_brought_you.html

where are the criminals now….let’s ask the banksters

They’re the pawns on the board whom were moved in a precise manner to checkmate the American people and dismantle accountability and oversight systems. Read the first page of the avm final rule linked below for more influential identification references.