Hearing on Appraisals
US House Financial Services Committee Hearing on Appraisals – The subcommittee on Housing, Community Development and Insurance is holding a hearing entitled “What’s Your Home Worth? A Review of the Appraisal Industry” on June 20, 2019 at 2:00 PM. The hearing is open to the public and can be lived streamed. To find out more about this hearing, go to the US House Financial Services Committee website.
Contact the Representatives on this subcommittee. Make sure consumer protection is at the forefront at this hearing and not the profits of the GSE’s. Are the representatives aware the GSE’s are sending unlicensed, unregulated individuals into their constituents homes for data collection? Hybrids and unlicensed inspectors do not protect the consumer and are harmful to the economy as a whole. You can also share your story to the House Financial Services Committee here. Hybrid Educate our representatives!
The Appraisal Subcommittee Wants Public Comments on Another Appraisal Waiver. Well, not exactly. The ASC wants comments on the revised waiver request submitted by the State of North Dakota. See the request and comment instructions here.
Last week VaCAP shared the DOJ was investigating CoreLogic. Today we learned the Chief Legal Officer for CoreLogic, Arnold Pinkston has resigned. Coincidence or getting out ahead of what is coming? Time will tell. Mr. Pinkston has been Chief Legal Officer since January 2018. See the story here.
Corelogic’s chief counsel is leaving the company as it deals with a DOJ inquiry. The move comes a week after the US Department of Justice demanded the multiple listings service vendor hands over its data…
Licensed in Washington DC? The Department of Consumer and Regulatory Affairs is holding public meeting on the regulations of Appraisal Management Companies. DCRA wants your feedback.
June 6th @ 1:00 PM
1100 4th Street SW
Washington, DC 20024
Room E 200
Preregistration of the meeting is required. See the flyer and registration instructions here.
- The New Con: Hybrids, Waivers & AMCs Threaten Public Trust - December 16, 2024
- VaCAP Supports Shane Lanham’s Legal Fight - September 10, 2024
- It’s Just Responsible Journalism! - February 21, 2024
Can someone stand up for the appraisers who has high intelligence and can let them know why we are getting screwed around please represent us. I’m tired of seeing the same old people from the same old organizations sit in front of Congress and bite their tongues.
Fox news needs to be sent all this data. And all local news in every state. American people need to know what is going on.
If you want to know what is going on, don’t watch Fox news; they are essentially trump news. They lie like he does, and they are anti-regulatory because they are only representing uber rich people. Hannity owns a lot of apartment buildings; he eats dinner with trump often, and he says whatever is good for trump, and he doesn’t care if he is lying to protect a corrupt president. Tune in to something worthwhile that actually reports news, written and reported by real journalists; Fox is an “entertainment” channel, not a news channel. Try ABC, NBC, CBS, NPR and PBS if you want real news! News on our profession is not understood by non-appraisers because it is too complicated for the general public to understand.
The people at TAF are politicians, and the lobbyists for banks and realtors have unlimited money to influence this organization. Also, they actually do nothing to improve the profession, they bend with each blowhard who has their ear. TAF is a creation of the banks who don’t want appraisers to do their job; that way they can control all the loans made, and give fannie and freddie all the access to selling the loans on the secondary market where wall street brokers wheel and deal with your retirement 401k or your home. It has become a country of the investor class, so the banks are just engineering a new bailout; that way they can eventually own all of us. Bankers couldn’t be trusted and caused the Great Depression which led to the creation of the American Institute of Real Estate Appraisers (AIREA) which developed the educational courses we take and created the Ethical Canons to protect the public trust. Now this political organization, TAF, has stolen the AIREA mission statement and act like they are the utmost authority on our profession. They are just screwing up everything, then we have those computer nerds creating magic software driven by algorithms that are programmed by non-appraisers; data people! Their sales people say they are just as good as we are, so fannie and freddie jumped on that and banks want to do it, and they are already doing loans with no physical inspection, paying a non-appraiser to take a few exterior photos and running an AVM. This will crash the economy in the end, and if you live long enough, you just might be in demand after the next crash and we finally get our profession back. Please don’t depend on Fox to give you the news that will clear this up! We are the only ones who can do that! TAF has failed to be effective because they don’t do anything but make changes to USPAP and qualifications to become an appraiser, and the appraisers on the board are paid whores!
Lots of people, some in power, some not may hear us, but 10+ years post HVCC, no one appears to be listening.
Seek the truth.
Come on you know they will only listen to us after the next crash. Or blame us is more like it!
This months news; Earnings for American workers are tracking upward at the highest pace in 20 years. (Except of course for real estate appraisers…)
I mean all these guys who have blogs, weekly videos, monthly newsletters etc. All the expo’s in Vegas or Texas and we can’t get any of these smart people to come forward and represent us?
Take a photo of everyone speaking, and replace their face with their corporations logo. They’ll all be there, except for individually licensed people. Agreed though, someone needs to schedule this in immediately. Somebody important, well mannered, experienced, but most importantly is not going to be advocating for big corporations and big tech, but rather will advocate for everyday hard working full time focused appraisers whom does not agree with the use of hybrids or waivers.
I believe that appraiser organizations have stood up but don’t seem to get any traction. Is it due to low membership, or money? Appraisers need a large organization to support them (the NAR certainly does not) and go to the Hill.
The Appraisal Institute has two lobbyists; both of them are ignorant; neither of them is an appraiser! The guy who handles Federal issues was a former mattress company lobbyist; the guy who handles State issues is a failed politician who ran for local office in Maryland, and I checked him out; he didn’t raise one dime for his campaign! Of course he lost, so basically the formerly most influential appraisal organization has incompetent lobbyists. NAR has tons of money from their realtors to lobby, and they win, so appraisers lose. simple math!
The appraisal organizations that stood up for themselves, their wallets and shrinking memberships got us no where. We have powerful organizations like VaCap and LREAB that represent more of the working appraiser to take a stand. Here is the time for some action. Here is the time to rise up and make a difference. If not then we all will be talking about it in months to come. Like “why didn’t we go there and say that or do this”. The same garbage I keep reading about in every other newsletter and the same frustrations I keep seeing people post after the fact and we don’t get our point across and make a difference.
I’m often taking a moment to inform realty agents about the dire state of the appraisal industry, and the emerging movement to replace us with unlicensed inspectors and tech people. The general consensus from licensed agents is that the appraisers job is highly difficult, usually well respected, most think we should get paid better and remain in place. There is often a clear sense of relief when I tell them the appraisal request was not sourced from any third party or amc company.
The fact that I don’t know who LREAB is and I have been an appraiser for 40 years makes it clear that they are not making much of an impact! Please tell me who VACap is and what they do and have accomplished.
This hearing was awful. It turned into a racial issue. I was really hoping that the real issues appraisers are facing were discussed. At one point one of the congressman asked if anyone thought there was a racial problem in the appraisal profession and only 1 person raised their hand (the gentleman who made that claim). The congressman then went on to demean everyone who didn’t agree. The panel should have strongly responded how inaccurate that theory is and why! Appraisers report the market, nothing else! So disappointed.