“The appraisal industry is the lubricant of the mortgage industry” …Inventor of WD40 (just kidding)
In addition to Soapbox which contains the terrific contributions of my appraisal colleagues, appraising has made its presence known on our other blog Matrix via the current turmoil in the lending/mortgage industry.
[Other Shoe Drops Department] IndyMac Needed Appraisals Done Before Judgement Day
[In The Media] Real Estate Radio USA Appraisals & Bits
[In The Media] 4Realz Roundtable On Appraisals Cuomo/GSE Agreement For 1-1-09
[Subprime Truth In Lending] From A To Regulation Z
Tags: Appraisal Management Companies, Soapbox Blog, Appraisal Pressure, Appraisal Process, Radio
Let me submit. As a profession we appraisers don’t seem to know what the f–k we are doing or supposed to be doing. We have got to stop the spins, justifications and rationalizations that somehow sustain 90% of the appraiser I am acquainted with.
Being a somewhat newcomer, I have heard it said with conviction in AI circles that everything fell apart in FIRREA. Somehow I doubt that position has much in the way of factual support. Fine kettle of fish for purported experts to be in.
Can we talk about this? Course correction is coming about way too slowly and we already threw the baby out the window or maybe we just backed over it. Who knows?
The profession dropped the ball. So who needs Fannie form filler appraisers who knows little or nothing about market analysis and apparently could care less?