Government Agency Gets Off Scott Free – Surprised?
The SEC gets off Scott free regarding Madoff. Surprised? We’re not the good old boys up on the hill watch out for each other once again. The Appraisers Guild confronts Barney Frank about appraisal independence. Think it will help? Buhahahaha…. Please the good old boys up on the hill are just too tight. “By the Government for the Government screw the people.” Welcome to the USA. Anyway…. Catch all your real estate news and mortgage news with Frank Garay and Brian Stevens here at www.TBWSDailyShow.com.
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Dodd-Frank further does the job by given the big banks a major unfair advantage over every other means for the consumer to obtain a mortgage. They keep the monies they used to pay Loan Officers or Mortgage Brokers so they win big here too. Now they are after the Real Estate Agents commission. They do this by limiting the amount the will pay Realtor’s on short sales.
There is no denying the Federal Reserve is doing everything in it’s power to with the blessing of Senator Barney Franks & out going Senator Chris Dodd, to create an environment that if someone needs to obtain a mortgage they will have their choice of B of A, Wells Fargo, Chase, Citibank, and GMAC which really is no choice at all. By the way, they are also the top campaign contributor’s to the two mentioned Senators. How will this all end? I sure hope not with the American Government having their debt rating changed from something other than AAA. Moodies fired a shot across the bow last week as a warning, which I must comment on. Where the heck were their morals and ethics when they were rating this junk paper sent to them by the same banks? Seems back then everything was AAA so it could be sold to the world pension fund managers. I have digressed from the topic sentence which was that we need our veteran appraisers back, not these wet behind the ears kids that have taken the positions left by the true Journey men appraisers. An appraisal is a subjective thing that needs to be done by a human being that will look at all the factors….much the same an FHA loan used to be underwritten, and we need to go back to! Anyway, if a computer program could take the place of a human the appraisers would of been replaced with AVM’s years ago, but it hasn’t happened nor will it happen. If you agree with me please say so, if you think I am full of bull excrement, then tell me so on my webpage steveharkness.com
now lenders have to have a department to review the sloppy work, adding conditions and days onto an already laborious costly process… it’s a mess.
Thanks for your segment on the appraisal situation. I think you guys hit the nail on the head. This is everyones concern; not just the appraisers. I have been an appraiser for 20 years and have lost 95% of my clients; what has transpired since the onset of the HVCC is the most pathetic thing I’ve ever seen. For all you appraisers out there that wanted appraiser Independence I hope your happy now. The Appraisal Institute has never spoke out against any of this legislation; I agree with Rick 100%. This needs more public attention; RIGHT NOW !! THANK YOU TBS DAILY !!!!! Hey all you realtors out there; do you feel good about a rookie appraiser working for minimum wage appraising your next escrow ? And also pressured for an unrealistic 2 day turn around time by the lender; If not,then you and everybody in your office needs to advocate for CUSTOMARY AND REASONABLE FEES NOW !!! Appraisers need to make a minimum of at least $400.00 for a basic appraisal to buy food and gas; NOT $200.00 or $300.00 or $350.00. Wake up folks or we all going to go under; not just the appraisers.
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There must just be too much money in seminars for a vanishing industry.
Go sign your petition folks and oh yea, write your congressman. He’s just waiting to help you.
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Was there a Frank and Brian Video with this??? What happened to it?
Day TWO and only a few people may have seen the original Frank and Brian video before being replaced by viral video. What gives? Did it get censored? Was the topic TOOO HOT? Just curious why no response from Frank and Brian…
There is a petition circulating right now that calls on the Federal Reserve Board to clarify their interim final rule with respect to the wording on the section relating to customary and reasonable appraisal fees.
You can see it at this link.
http://www.petitiononline.com/mod_perl/signed.cgi?CnR2011&1
The general theme in this petition is that the Federal Reserve Board has issued a RULE that includes wording that conflict with the LAW it is supposedly interpreting. If I recall correctly the EPA has been successfully sued on several occasions for that kind of misconduct.
This petition has been up for little over a week and has already generated more than 8,000 signatures from appraisers, LO’s, and consumers. In the last two days some AMC employees have apparently been signing it in order to make comments supporting their opposition to appraisers. However, the 8,000 signatures prior to that include a lot of comments from appraisers and LO’s about what these AMCs have been doing with these appraisal assignments. It’s sickening.
OK, I hate this reply thing, replies get buried. I’m also putting this on top where it can be read. I’m replying to both your erroneous comments here.
John said : But if you are right we will do bad appraisal and get fired.
Wrong. That’s not going to happen. AMC’s don’t care about anything but how much they’re paying you. If you work for cheap and they are ignorant enough of the appraisal process, you’re in no matter how many mistakes you make. Why should they care – They’re covered if you screw up really badly by your own E & O insurance. That’s right.
John said : THAT is what it will take, a LEGAL challenge and LEGAL ACTION and pressure is the only hope we have.
Wrong. It hasn’t worked in the past and it won’t now. The banks own the courts. Any challenge brought to the courts either gets thrown out or dismissed without judgement. Witness NAMB vs HVCC and the GSE’s. Thrown out with no concern how HVCC was hurting consumers or small business.
As far as your 2:55pm comment – You’re wrong again and here’s why. The forms don’t go into mandatory use until Sept 1st. Today is 4/21. That is a little over 4 months to make known our intentions. It doesn’t matter what the amc’s think up to that point. This battle is with the GSE’s and HUD and their new forms. Now do you get it? The AMC’s are not in the picture and don’t enter into this at all for over 4 months! And, let me say emphatically, I don’t feel sorry for you at all. The ones that I feel sorry for are the experienced ones that have lost a career after 10 or more years of hard work and continuing education and refuse to bow down to tyranny. They are the only ones I have respect for.
Whether or not the new forms will be used will have nothing to do with us. We are the people who do the reporting. The clients, the Fed, GSE’s etc are the ones who decide what kind of report they want done. They change the 1004 every few years as well. Is anyone still doing reports on the old URAR because they didn’t like the new one?? As far as the other stuff (5Pence) I don’t want anyone to feel sorry for me. I am still working and doing what I have to. If someone wants to say they won’t leave their house for less than a $400 fee then that is their choice. This is still America…. for now. But in my case If I refuse to ever do an appraisal for under $400 then I will just have to miss out on 80% of all the assignments out there since the “Too Big To Fail” lenders control most of the mortgage lending directly or indirectly now. I need to do more than 5 reports a month to survive and I choose to do what I gotta do for now. It is the same thing with LO’s that have to do a low profit deal sometimes or the RE agents who sometimes get the commissions cut to the bone by the bank on a short sale. If even legal pressure won’t work as you say (you may be right)then we are all screwed anyway. Because we are independent and it is illegal for us to price fix the market anyway. If we did form a union and demanded a certain minimum fee the gov. would surely break us up. In their opnion we would be hurting the economy by holding home lending hostage. My true belief is that the good ol days (not really all that good) of even a few years ago are gone forever, they may a make a temporary reappearance if the petition get the feds to clarify C&R but it is only a matter of time until they get enough data for the AVM’s to take over most of the appraisal work. The easy work will be the first assignments to go. They will always need us, (at a reduced rate) to do the farmhouse with 6 outbuildings on 70 acres. The easy tract home in the burbs will be taken care of by the Hal9000 AVM program coming soon though.
P.S. On the debate over the new forms that are SOLELY designed to rip our data to eventually eliminate us. We have two choices:
1) Use the forms as they demand us to.
2) Say you won’t use the forms. Then wait for the phone to ring for that tax or divorce appraisal from the signs you put on phone poles, because you no longer appraise for lender financing of any sort. The Feds want this new form, the lenders will have to demand it, and they will get it. End of story. Another similar example is ACI, some lenders require you upload in data mining freindly ACI. CoreLogic rep told me flat out, “We give preferrence to appraisers who can upload in ACI format, because we can cull the data for our systems easier”. “If there is no ACI capable appraiser available then we go down the list to the non ACI ones”.
I’m replying to both your erroneous comments here.
John said : But if you are right we will do bad appraisal and get fired.
Wrong. That’s not going to happen. AMC’s don’t care about anything but how much they’re paying you. If you work for cheap and they are ignorant enough of the appraisal process, you’re in no matter how many mistakes you make. Why should they care – They’re covered if you screw up really badly by your own E & O insurance. That’s right.
John said : THAT is what it will take, a LEGAL challenge and LEGAL ACTION and pressure is the only hope we have.
Wrong. It hasn’t worked in the past and it won’t now. The banks own the courts. Any challenge brought to the courts either gets thrown out or dismissed without judgement. Witness NAMB vs HVCC and the GSE’s. Thrown out with no concern how HVCC was hurting consumers or small business.
As far as your 2:55pm comment – You’re wrong again and here’s why. The forms don’t go into mandatory use until Sept 1st. Today is 4/21. That is a little over 4 months to make known our intentions. It doesn’t matter what the amc’s think up to that point. This battle is with the GSE’s and HUD and their new forms. Now do you get it? AMC’s don’t enter into this at all for over 4 months! And, let me say emphatically, I don’t feel sorry for you at all.
I love the anger that I see from other appraisers, it is what we need to get something done. Lately I am in a catch 22. I will admit my situation even though I will be flamed for it. But it the situation I am in. I fortunatly AND unfortunatly work for CoreLogic. They were 80% of the 2x appraisals I did last month. Without them I am unemployed. It is easy for some to say I should “go do something else”. Here is a plan for all you noble appraisers. The whole 3% of the industry that is. YOU go do something else, after all the only guys who take low fees are skippys anyway who cannot do a quality report. (I work day and night on mine, high quality is the only option for me). But if you are right we will do bad appraisal and get fired then they will beg for $400 appraisers. Here is the reality, There is always someone who will work cheap if they HAVE TO. We have a unique skill that is nmot easy to translate into other work. WHAT AM I DOING TO HELP??? I have gotten into flips and now have 4 rental units to offset my income so I can accept less AMC orders. My median $ per assignment is running at about $315. That is still lower than it should be but I have a mortgage to pay. No other job I can see will pay that mortgage, catholic school for my kids, etc. I don’t want to move and public schools here are horrible so I need to work. If not me there is a long line of others who will take my place and do the work.
I have been in contact with an attorney and there is something being researched now having to do with antitrust and unfair trade practices, etc. I am not an attorney but the one I know said there is definitly smoke and maybe fire. We will see. THAT is what it will take, a LEGAL challenge to their interpretation of the law to pressure either them or the Feds to take some corrective action and clarify what “Customary AND Reasonable” means, so far the AMC are just looking at “customary” and think that is good enough. We all know it’s not. I did the petition and tell EVERY borrower what I am paid vs. the fees they pay because it MUST be disclosed in Louisiana. Problem is THEY ….. DON’T ….. CARE!!! They just want the loan to refi the house, buy a boat, avoid foreclosure, etc. LEGAL ACTION and pressure is the only hope we have. If the big lenders/AMC’s think that they cannot win the legal fight, THEN they will relent and give us decent fees with the AMC share much smaller, like maybe 10% or so. If their high dollar lawyers think that they can win, then they will never raise fees no matter how many petitions we sign.
Good luck to us all, I may start cutting grass on the weekend to supplement my income.
John
Frank & Brian called the appraisal problems “unintended consequences” and I completely disagree. Theses consequences were completely intentional. The large corporations and mega-banks are feeding these new laws to congress to pass. When BofA bought Countrywide, it was only after they had already shut down their wholesale channel. The BofA CEO made a comment saying, “we love the mortgage product, but hate the mortgage business.” Since then, BofA and the other big banks have done everything they can to change the business and take money out of the front lines and funnel it back to themselves…
Dan : If Peter will get in on with what I propose to protect appraisers from the lastest GSE assault, I’ll write an article for the Niche Report and all the Appraisal blogs out there to get the word out and make appraisers aware. A line in the sand can be drawn by just saying NO. And, it could increase Guild membership – it certainly couldn’t hurt it. Let me know: apprazur@comcast.net
Hmmm, apprazur at comcast dot net
Today, we made history in Wisconsin.
WI Democrats — supported by over 2,600 DFA volunteers on the ground — submitted over 150% of the signatures needed to demand the recall election of the 5th Republican State Senator: Alberta Darling.
This is unprecedented. In the history of Wisconsin there have been only 4 recall elections ever. Now, in just the last two months, we’ve legally required 5.
Republicans from Madison to Washington D.C. are watching every single step of this fight and we’re not going to let up until we win. With signature gathering continuing for the 3 Republicans left who are eligible for recall, it’s vital we keep covering TV with our hard-hitting real people ad. If we hit $600,000 by Friday night, we’ll be able to stay on the air in target districts through the end of next week. Please contribute now to make it happen.
https://secure.actblue.com/contribute/page/recalltherepublicans?refcode=DFA-e6-Crump
So let me see if I got this right…a lefty left who supports marxist governing principles in Wisconsin is telling the appraisers here how to act when it comes to fighting government regulations on a formerly free market activity? Am I missing something? I must be missing something.
so where is the topic video for the day? The kid is cute but……
Bernanke: “It (financial literacy) enables consumers of all ages and economic positions to stay attuned to changes in their financial needs and circumstances and to take advantage of products and services that best meet their goals. Well-informed consumers, who can serve as their own advocates, are one of the best lines of defense against the proliferation of financial products and services that are unsuitable, unnecessarily costly, or abusive.”
Oh, really???? So what you’re saying with all the new regulations is, ‘America, you are all financially illiterate.’ That or you have no clue what the hell you Fed Res is actually doing.
Cute video but it sure didn’t say anything about the topic of the day.
No video guys and I’d like to see this one. I only see the baseball one. Please send out email when this is fixed.
YES – where is the video from today ?? this one needs to be shared with every single client that has been swindled out a $ 400 appraisal fee, and then has zero recourse when the value is 40% less than what they told you it was, and their refi is DOA … the only way to get this fixed is to inform EVERY clueless homeowner about this situation and help them figure out that the ones that have created this mess are the ones who continue to enact regulation that just adds gasoline to the fire !
please replace today’s video !
AMCs’ like Landsafe making demands when in violation of the C & R provision in Dodd-Frank seems a bit one sided. Can we get a lawyers take on this? The intended user is the lender/client. No one else.
Randy, believe me I’m as pissed as you that our profession has been stolen by the morally bankrupt.
Randy, I get your sentiments but if appraisers have not banded together by now they’re not going to. Money is the driving force in realtors and appraisers actions and they’re happy getting peanuts and will be happy getting peanuts until the peanuts are gone.
You can’t force morality or ethics when people have none – and that’s who the banksters seek.
You should just do that appraisal and be content that you protected the consumer. That’s the way I’ve always dealt with it. We’re supposed to be protecting all parties in the transaction and if it ends up we’re protecting one but not all – so be it. Screw em. I feel our job is an honorable part of the public trust.
All appraisers are never going to draw the line on fees. We should know this by now. We should also know that trying to organize appraisers against this tyranny is a fruitless pursuit. Appraisers won’t boycott AMC work, protest in public or anything else that requires too much effort, ie.. getting out of our seats. Honestly, I don’t know why or how our ranks got filled with such apathetic losers, but it is and there’s nothing we can do about that, except face those facts and deal with it.
Appraisers in total won’t draw the line on fees. The worst of us are getting the best of us and it shouldn’t be that way. But it’s what the banksters want and what they want, through their government vindication of any crimes whatsoever, they get.
I’ve come to the conclusion the only thing appraisers know how to do is whine from their offices. Fact. So don’t bother whining in reply to this message.
So, if that’s what we’ve got to work with, we have to come up with a plan where they don’t have to do a damn thing. I just did in my post at 8:49AM. The HUD/GSE new forms aren’t mandatory until 9/1. I’m hoping appraisers haven’t been reduced to such spineless blobs that they can still say NO to the use of these new forms that are specifically made to rip off our intellectual property and steal fees rightfully ours. If appraisers make ANY kind of stand, even just to say NO (as I stated), it will create ripples that will get noticed by those in power. They know they need us more than we need them and the corrupt powers that be need to be reminded of that. Baby steps for change. It’ll work, I guaranteed it.
If you’ll click over to the page with comments you’ll find the Giants video has been added below the real video. They are both on the same page and they both work.
I am ON the page with the comments and the Giants video – no joy on today’s main video.
TBWS Daily show: Worked this morning early. Got interrupted. Now, I go back in to watch it, and the darn thing doesn’t work at all!! Agree with previous comment….NOT WORKING GUYS!
where is the video that goes along with todays topic…Government Agency Gets Off Scott Free – Surprised?
The only video I see is the \baseball kid\….
This as an appraiser …this is one I’d like to see/hear….
You guys must have been hacked. This is a video of some ball players and a kid? WTF?
http://realestatemarbles.com/
Looks like someone hacked the video….LOL
As usual great piece. Love the content in 5-6 minutes. Although I must say, I think the Keenan Cahill bit may have put you guys to shame.
Here’s the deal guys. The only way any of us in this RE Profession are going to survive is to band together. You need to read the whole post before you take exception to one point. This one isn’t nicey nice.
The Greed of trying to cut an appraisers throat over a $75 BPO is something you RE Agents are going to have to give up. It only provides a way for the banks to eliminate appraisers.
Mortgage Brokers and RE Agents are going to have to act right when it comes to making deals that aren’t feasible even if you got a client that thinks it’s a good deal when you are screwing him raw.
I have one deal here in Ojai CA where the agent has a house in escrow for $775K it is not even worth $600K and I can’t make it happen, so I am an asshole. NO they are the assholes because they are cutting thier own throat by taking advantage of an uninformed buyer. I have been pleaded with 3 separate times to do the appraisal, or a review on the existing appraisal that I have already told them I agree with, thus saving them the fee of another somewhat complex appraisal. I quoted $750 for this work, and they didn’t blink, then I just had to flat turn it down when they didn’t get the hint. Ojai is a small town and I will reap the rewards of this action by getting blackballed. F ME!
Appraisers are going to have to draw the line on Fees. This $250 mark that some think they can \live with\ is BS and you’re only going broke slower than those of us who won’t take less than $400. If you can’t make a living then get out or find another job to tide you over. By accepting what ever the banks is offering is stupid and jsut shows you are a spineless putz and don’t Give A Ship about your fellow appraisers.
Keep in mind that appraiser are not even receiving the same fees they were receiving 20 years ago. RE Agents and Mortgage people are attached to a percentage of the deal so they have received constant increases along the way. Appraisers haven\t! If you look at inflation we should be getting $1200 for a tract house appraisal. not $175. and you people out there who are running the volumn businesses F U! You are the biggest offendeds in the appraisal business, and I will report you as soon as I find out who you are !!!!!!!!
Wise up guys, with out appraisers you will be on the hook if a loan fails. How we ever got the liability hung around our necks for our \Opinion of Value\? is beyond me???? Oh wait a minute wasn’t it that fat CS BARNEY FRANKS that screwed us along with everyone else in this country. I think so!!!!! Why the people in his district keep voting him back in is criminal. Are people really that stupid? Well yes they are…
I have purposely made this post just as abrasive as I could to provoke discussion. If you think I am too harse, then you are naive at best and probably just plain stupid. The time for rules of order is long past. We need to start shouting.
And,,,,, all of you need to start using your own name to sign your posts. If the bankls blackball everyone then they won’t have anyone to play with.
Grow some spine!, act like a man even if you are a woman! You women probably have bigger balls than most of the men I know in this profession anyway.
We need to shout and we need to be heard as individuals with a common purpose. Time to step up! stop hiding behind some Nom de plume, and let people know who you are. Hell, they might just respect you a little more if they know who is doing the talking.
Randy
I like you W.R. Buchanan, I really really like you:) and i second your motion!
Dan Drelich of the Guild : Can you find out what the Guild and Peter think of my 8:49am post? I think its worthwhile and won’t cost anybody a cent or any work or clients. Saying NO to these forms is the easiest way to address this new assault without compromise. We have to start somewhere. The mandatory use date is Sept 1, 2011 – so we have time to get people signed up. Maybe even Peter could write the letter since my name carries no weight, except around my house heheeh. BTW, I’m a member. Thanks for a response – Ed.
Did you originate this? It’s awesome either way! I am 1,000% in agreement with what’s written. I assume you must be an appraiser, a Realtor, or a loan officer. That’s me, a loan officer. I hope to hear more from you !
BITE BACK!
Think about this for 1 long moment. Basically our society is complacent and consequently we take it up the you know where. Why do the few own and run the many? We don’t need to be the good little soldiers anymore. I am so freaking pissed off at this whole mess. If I were truly mentally unstable, I would physically remove these idiots running the asylum.
A couple of people today are stating the obvious, we need to REPLACE what’s not or who’s not working!\n
True revolt and revolution is becoming necessary. I conscientiously object to the use of my taxes. I object to over paying the idiots running the show and wasting our money. I object to over regulation. I object to politicians getting paid by both sides of an argument and then doing what suits them.
REVOLT, BITE BACK! This is not the American Dream, it’s a freaking nightmare. Let’s grow some balls and start fixing this crap. We outnumber them. Let’s overpower them!
Screw complacency! Find the right ear and start chewing.
I am so with you!!!!!!!!!!!!!
When the private enterprise FEDS made the decision to control broker comp, this was the final straw for me. The FEDS gave $9T away to foreign countries and can’t or won’t answer to Congress, then replace Congress. They’re not doing their job. They overlook and they are supposed to oversee.
And We The People are out of work or capped on income or pay too much tax or starve or lose our homes.
Those at the top, who allowed and therefore caused this mess line their pockets.
http://www.youtube.com/watch?v=3dWsxMD057w
Thanx, I needed that!
I remembered the piece, but it never had the relevance to me then that it does now. Over 30 years old, but speaking as if it were written today.
Does that not show you that we’ve got to quit talking and begin acting?
And yes if you don’t get the CAPTCHA right the first time it does force your reply to become a totally new post so watch it.
Ear???? Let’s kick some ass! They won’t listen until we threaten them with losing thier job(and maybe not even then, because it’s so hard to get them out of office). There is still time to replace them with people who are NOT afraid to do what is right! NAR is going to suffer too when they can’t sell homes because NO ONE qualifies and no homes are valued correctly. I keep telling everyone, the government we have elected is not interested in home ownership dispite what they say! We are slowly being turned into a nation of renters! We are running out of time!
Yeah, just say NO and they’ll just say YES to not giving you more work. But I think that ultimately is what it’s going to take. We just refuse to work, get a job at McDonald’s, and wait.
No CF, why? This is between us and the GSE’s until the use of the forms are mandatory. The GSE’s don’t control our work flow.
APPRAISERS: just a thought. What if there was some kind of generic form out there for you to have the homeowner/purchaser sign that lets them protest with you about the miss use of the “appraisal fee”. I’m sure that they don’t know that $450 that they paid to the bank is only getting half to most of you. While the other half is pocketed by the greedy bastards that are already sticking it to them with other fees. Appraisers and upset consumers might make a difference?
What would that do Tom? Besides lose you a client when they found out. The consumer needs to be educated but if you want to protect your career, it’s not wise to do it 1 homeowner at a time.
your right I guess. Just banging my head against the wall trying to figure out a way to fight back. SO much has been written and said by appraisers here and other website comment sections about how we are sticking it to us. How they(AMC’s) are using this stupid “loophole” in the bill/law to have their way. Something has to be done to stop them!!
We need to take baby steps to change things. First we say NO to the new forms and, like a stone thrown in a pond, we watch the ripples – and it will cause ripples. They’ll say appraisers are showing testicular fortitude? We need them, we better listen to them and what they want. This is guaranteed. Baby steps
No…..when an amc’s crap appraiser accepts an assignment from an amc the contract stipulates/dictates that the appraiser not discuss in any way the appraisal fees with the borrower.
Harry Markopolis looks like Rick Moranis.
It’s unfortunate that these folks lost their life savings, and I really hope they get help.
The fundamental injustice that is poisoning this nation is that the guilty are powerful and free and the innocent are burdened and oppressed. O did nothing about this and neither will any other government agency.
When are we going to stop letting the GSE’s tell us how and on what forms our reports should be done? I mean these GSE’s are broke from their own corruption and they’re only existing on the taxpayer dime.
Now they’re going to homogenize the data, which means with these new forms, they 100% support AVM’s taking over the appraisal industry and they 100% support consumer protection being thrown out the window. Keep playing the game their way and kiss your profession goodbye.
I’m making a stand, I will not be using these new forms. Anybody else tired of kissing Fannie’s arse?
Say NO to the GSE’s and NO to bankster monopoly that is killing the free market. Say NO to all the corruption. Why fight it or try to organize protests? No one has to leave their house to just say NO. No expensive legal fights, no protests, no real organizing needed, no dues, nothing. Nothing except NO. What could be easier?
No loans will be lost – we already have forms we use that they can still use if we say NO to their new format (blatantly made so it’s easier to rip off the appraisers intellectual property). They can’t legally force us to use those forms. Besides, what did HUD ever do for appraisers besides invent those terms “reasonable and customary” (that I hate)? They’re going to cost us money to use. The forms are a homogenizing of the appraisal product so that AVM’s appear more and more appealing and the appraisers comments are less and less consequential !
I’m thinking we get a letter together saying we won’t use those new forms and have thousands sign it. They have to know we mean business or it’s the end of our professionalism in this trade. We’re just ho’s. Whole corporate entities have grown around their abilities to rip off our intellectual property ! Shouldn’t we be paid for that? I mean, really. Considering how much money an appraisal generates for the banks and the technology leeches, we should be getting $1,500 per appraisal!! Why are we selling ourselves for less?
Say NO. Make a stand that won’t cost you a cent, won’t stress you in any way and you don’t have to even get out of your seat to do it. Once they and the amc’s know we’re not going to use their forms and contribute to the demise of this profession, they’re going to have to accept it. They’ve got no other choice. No clients or work should be lost just for us saying NO. But we’ll be making a stand and a statement no “Appraisal” organization has done or will ever do. We’re on our own. Personally I’m saying NO. I want this profession to thrive again and I want to be compensated fairly.
BTW, thanks to the Guild !!
Something just posted on a car forum I’m on. What? You didn’t think we were the only people struggling with these issues did you?
DIVORCE AGREEMENT
Dear American liberals, leftists, social progressives, socialists, Marxists and Obama supporters, et al:
We have stuck together since the late 1950′s for the sake of the kids, but the whole of this latest election process has made me realize that I want a divorce. I know we tolerated each other for many years for the sake of future generations, but sadly, this relationship has clearly run its course.
Our two ideological sides of America cannot and will not ever agree on what is right for us all, so let’s just end it on friendly terms. We can smile and chalk it up to irreconcilable differences and go our own way.
Here is a model separation agreement:
–Our two groups can equitably divide up the country by landmass each taking a similar portion. That will be the difficult part, but I am sure our two sides can come to a friendly agreement. After that, it should be relatively easy! Our respective representatives can effortlessly divide other assets since both sides have such distinct and disparate tastes.
–We don’t like redistributive taxes so you can keep them.
–You are welcome to the liberal judges and the ACLU.
–Since you hate guns and war, we’ll take our firearms, the cops, the NRA and the military.
–We’ll take the nasty, smelly oil industry and you can go with wind, solar and bio-diesel.
–You can keep Oprah, Michael Moore and Rosie O’Donnell. You are, however, responsible for finding a bio-diesel vehicle big enough to move all three of them.
–We’ll keep capitalism, greedy corporations, pharmaceutical companies, Wal-Mart and Wall Street.
–You can have your beloved lifelong welfare dwellers, food stamps, homeless, homeboys, hippies, druggies and illegal aliens.
–We’ll keep the hot Alaskan hockey moms, greedy CEO’s and rednecks.
–We’ll keep the Bibles and give you NBC and Hollywood .
–You can make nice with Iran and Palestine and we’ll retain the right to invade and hammer places that threaten us.
–You can have the peaceniks and war protesters. When our allies or our way of life are under assault, we’ll help provide them security.
–We’ll keep our Judeo-Christian values.
–You are welcome to Islam, Scientology, Humanism, political correctness and Shirley McClain. You can also have the U.N. but we will no longer be paying the bill.
–We’ll keep the SUV’s, pickup trucks and over sized luxury cars. You can take every Subaru station wagon you can find.
–You can give everyone healthcare if you can find any practicing doctors.
–We’ll continue to believe healthcare is a luxury and not a right.
–We’ll keep “The Battle Hymn of the Republic” and “The National Anthem.”
–I’m sure you’ll be happy to substitute “Imagine”, “I’d Like to Teach the World to Sing”, “Kum Ba Ya” or “We Are the World”.
–We’ll practice trickle down economics and you can continue to give trickle up poverty your best shot.
–Since it often so offends you, we’ll keep our history, our name and our flag.
Thank You for making mention of the continued Independent Appraiser issue. You do realize those considered Independent Appraisers making every effort to retain an ethical, moral, non-bias stand, will join no group, organize no union or coalition or do anything that even slightly removes them from a definition of independent to save their own profession, right. The Independent Appraiser requires an organization already established like THE OFFICE OF REAL ESTATE APPRAISERS to take control of this crap and make things right again.
Have to agree. The last revolution was about a King taxing it’s subjects. I have no problem paying my fair share as long as every person and company are. Maybe it’s time for another revolution in the form of a tax revolt. The government is not working for us or our industry. We had enough safeguards in place(like the SEC for investors) They just need to do their jobs, not tie our hands and make business next to impossible. We the people never seem to benefit, the shit just gets deeper.
You need to read Rick Perry’s “FED UP!”
It’s not the political claptrap that Obam’s was. He says just about the same thing that all the people on this forum say. Only he’s got the research and the details to back it up.
We need to step up and fight this crap. Realtors have NAR but our lobyist work for the banks. LOs need to unite and stop this bleeding.
Well your Giants won the first 2 however the Rockies kicked but yesterday can you say 10 to 2!
Amen Frank and Brian. I suggest EVERYONE do a bit of research on it ALL. The more you do- the more you see a very disturbing trend. Since speech = money (as campaign finance law says it is.) Who gets all the speech? And now that “Corporations = people” and now have the supreme courts blessing to spend all Corp’s like on any campaign. What will the corp’s want to support? Yep! things that benefit the corporation. How can we the people compete with that? Don’t say I’m a liberal for saying this, (I’m not) or it’s class warfare (I’m all for the rich and poor, but it’s not a level or -even near level- playing field.) All people are created equal?!@#$ Not anymore… All the label infighting- plays straight into the game they -love- us to play and war with ourselves while they steal it all right in front of us. Wake up, and start calling everything what it is ‘corruption / law breaking / cronyism, a two tiered legal system, and politicians beholden to campaign contributors… and PLEASE educate others…
Divide & Conquer. From this forum it’s obvious they’ve done it.
Write your congressman, write your congress man. Are F’n kidding me. The answer to the solution/revolution is the money people. And we just missed our day to make a statement. I’ll bet most of you or most people you know sent in their tax returns on Monday, along with a check. Suckers. Now we have to wait until next year to tell our government to FO by NOT sending them a dime. That’s only one recommendation to make our stand, but I would guess 99% of the bleeding heart public don’t hae the backbone to do it. “I might get in trouble.” What are the FEDs going to do if NOBODY sent them any money? Come after EVERY citizen? Do you think they might have to grovel a little bit? “Dear American citizen, we realize your are pissed off, but will you PLEASE send us some money to operate? Love President Obbi”.
Want to get to the banks? QUIT DEPOSITING YOUR INVOME WITH THEM. DO ANY OF YOU REALIZE THAT IS WHAT GIVES THEM THE ABILITY AND THE POWER TO DO WHAT THEY DO? Do you know what would happen if every depositor BofA has stopped making deposits? They would crumble in a matter of days. THEY ARE NOTHING WITHOUT US!!!!!!! THE MONEY IS THE POWER AND WE CAN CANTROL IT BECAUSE WE ARE THE ONES WHO EARN IT AND FEED THE MACHINE WITH OUR DEPOSITS. WAKE THE f UP!!!!! WRITE YOUR CONGRESS MAN, WHO IS THAT LOST PUPPY?
HUH? BARNEY FRANK ON OUR SIDE? NOW I’M REALLY SCARED!!
As many of you may have heard, NAMB discovered a March 24th letter from Ranking Member Barney Frank to Chairman Bernanke in which Mr. Frank, co-sponsor of the Dodd-Frank Act tells the Chairman that the Board went beyond what the Act intended with respect to borrower paid compensation and asked Mr. Bernanke to revise the rule to allow mortgage broker companies to pay their employees for borrower paid loans. The letter also asked for reconsideration of the ability for an LO to take care of minor adjustments that may occur close to the time of closing.
bARNEY PLAYS BOTH SIDE OF THE FENCE! lOOK AT WHAT HE DOES WITH NAR. aND THEY CONTRIBUTE TO THE ASS.
HVCC failed by allowing the banks to own AMC. Frank Dobb Failed by allowing bank owned AMC’s from being exempted from State Regulatory Oversight. Most state with AMC regulation prohibit the AMC from requiring the appraiser to provide blanket indemnity to the AMC. Large bank owned AMC’s usually pay the lowest fees and with Frank Dobb have virtually no regulatory oversight. If a bank owned AMC is in violation “reasonable and customary fees”, who do I send my complaint to? Not the state regulators, Frank Dobb exempted the bank owned AMC.
The fact is that the large banks are driving mortgage brokers out of business and are vertically integrating the loan and valuation system so that there are no checks or balances in the system. Bad idea. Most of the problems in the real estate industry are tied to bad policy related to banking industry who loosen lending requirements when they should have been tightening them, the over reacted by tightening lending requirements when they should have been loosening them. The fact is that typical residential housing is a far lower risk in today’s market than it was five years ago at the peak of the market. Yet it is much harder to borrower money now when values are off by more the 50% in many markets. The risk of significant addition value declines is much lower now than then. However, lending requirements have been more stringent. Any wonder why values continue to decline.
When a third party system is put in place to promote independance and yet party #1(Banks) is allowed to have ownership of party #2 (AMC’s) you can expect that party #3 (appraisers) will get screwed. Not to mention, the consumer, who has no real understanding of the system really gets screwed. I would just like to hear someone at the FED, admit that this is an obvious conflict of interest. But I am not holding my breath.
Yes, the HVCC was the first shot over the bow, but it missed! Lets talk about all the shots that didn’t! Has anyone else noticed that we are trying to do the same job we did 6 months ago with about 20% of the market from 6 months ago? Credit score hits: Remember when a 620 credit score could get the same rate as an 820 score? Now the hits would kill the deal even at 680! FHA: You may as well cut the word streamline out of the vocabulary. With the higher monthly MIP, you could essentially drop a client from 5.75 to 4.75 and have a higher payment! Property values: In the TANK! Every time the tv gets turned on and someone opens their mouth, our market shrinks. It’s the worst purchase market in years! (I have no idea why with the low priced homes) Refnicnea= ya, I can’t spell it anymore either! They tighten the grip everyday… how long is it going to take to drive an entire industry away? Ya, I have pretty much had it!
NOW “you’ve had it”?…..NOW????…….I dont know where you have been for the last 18 months but hvcc didnt miss…….it hit the appraisers square between the eyes…exactly where it was aimed….I dont know of any good appraiser that has not had direct and dire consequences due to hvcc. In my office(now closed directly due to hvcc)I know six highly qualified, experienced and certified appraisers that dont work as an appraiser any more together with two office staff that were laid off, due directly to hvcc.Maybe Wisconsin is different,I dont know, but in Colorado we lost 35%+/- of appraisers that were to re-license last year and I understand the State is expecting over 50%+/- not to re-license this year.So perhaps if people like you,who consider that hvcc missed,would have stepped up to the plate when you thought hvcc didnt affect your job at the time, perhaps just perhaps more appraisers and their support staff would be here to feel your pain……..
Great point guys how there is so much more $ in real estate and housing than on wall street, and that explains this intentional stealth takeover through destruction of personal property in USA. This is by design not unintended concequences. Take over mortage industry, appraising, deflate values, create foreclosures, Gov’t ends up with all the property, and we are left destitude. Thanks Liberal Policies, aka Marxism, and sadest of all we haven’t seen nothin’ yet.
Notice how Brian and Burl Ives are never seen in the same room at the same time? Didn’t know Burl was a Giants fan. Errrr, I am sorry, with that beard Brian is really Yukon Cornelius!
Remove the people that are in power making these decisions. Vote out Obama, Frank, Dodd, Cuomo. This is the only way it will get done and put in the people who are willing to reverse the regulations that have put all of the unintended consequences and stupidity in the first place!
Tell everyone to demand a full fee go the appraiser. Tell everyone placing a loan application with you. Whether it is a purchase or a re-finance. Contact every past closed loan you have done or tried to do. Inform every homeowner you know. Let them know how the AMC model negatively affects thier EQUITY.
Do this for the consumer. Do this to help the appraiser. DO THIS FOR YOU!!!!!!!!
The banks have gotten control of the business and financial side of the appraisal business with HVCC and made BIG MONEY. They are now getting control of the appraisers data with the new data set requirements and will make more money.
They came after us and now control 85% of the business, soon to be a 100%.
THEY HAVE STARTED COMING AFTER YOU with the Loan Officer Compensation part of the Dodd-Frank fiasco.
FIGHT BACK, FIGHT BACK HARD NOW. The banks want to do to you, what they did to the appraiser. THEY WANT YOUR MONEY
Realtors take note. The banks have taken note of the amount of money your side of the real estate business generates. You are on the radar. You have a lot stronger lobby than the appraisers or mortgage brokers, but you are on the radar. It may take some time but you are NEXT. Remember what time did to the Grand Canyon. Soon you will see a Century 21, Re-Max, or Coldwell Banker desk in the lobby of Bank of America, JP MOrgan Chase, Citi Bank, Wells Fargo.
Back in the day. Local real estate brokers had a mortgage person and an appraiser associated with the office. This enabled the broker to control thier small part of the local market.
The big banks are doing this on a nationwide scale. They control the appraisers, they are in the process of getting control of the mortgage originators, and then they are going after the Realtors. There is a lot of money to be made in our profession and the banks want it all.
It’s 1984 people( George Orwell). WAKE UP
Unfortunately appraisers as “gatekeepers” were demonized as crooked just like brokers have been demonized.
It will take a collective mortgage broker and appraiser uprising to make the media take notice. When you see articles saying fraud is on the rise with brokers out of the ordering process and appraisers owned by AMC’s, then it makes you wonder how in the heck we could be blamed for the downfall. It should make EVERYONE wonder about the banks who are controlling it.
As to NAR’s call to action on interest deduction for mortgages. Again it is the same old same old. The changes suggested are for second homes of higher value, or million dollar first homes. I would not support NAR on this one. Like we keep hearing we all have to give. The wealthy with multiple pricey homes can give a little on their mortgage interest deduction, while the poor and middle class give. NAR is not too different from the big bank lobbyist – they all are too big for their britches!
I’m not a fan of NAR. They could have gotten behind the appraiser issue and the loan officer comp issue. They chose not to.
Social Security was sold to the masses as being only for the rich. But the middle class foots most of the bill.
The bottom 50% who are on welfare pay don’t even pay income tax much less SS.
We need to fight ANY inroads into mortgage interest deductions!
And THEY complain about \Equity Stripping\ by all those \unscrupulous loan officers\!
I dont know if this helps you at all but this is the latest email I received from my broker, for a call to action by the NAR.
Clarification Please? In regards to the topics on the daily shows.
Dear Karen,
Please join with your fellow REALTORS® who have already contacted their Representative in support of MID.
Congress needs to hear from YOU today.
Take it from Moe: The Mortgage Interest Deduction (MID) is vital to both home ownership and our economy.
Tens of thousands of REALTORS® have been heard by Congress. But Congress has not heard from you.
Right now is the right time to urge Congress to preserve, protect and defend the mortgage interest deduction (MID) before they whittle down MID at the expense of other more expedient budget cuts. Consider the consequences if homeowners and buyers lose the time-honored and cherished MID deduction. This tax deduction built the dream of homeownership in America. The bottom line is you may well lose personally, and for certain so will your business if it is eliminated or significantly reduced in any way.
Listen to NAR President-Elect Moe Vessi explain why your action today is urgent. Then send your letter asking your U.S. Representative to cosponsor H.Res25, a bipartisan House resolution that affirms the value and importance of the Mortgage Interest Deduction.
We must speak loudly and clearly with one voice to ensure the further recovery of our economy and the housing market and educate every legislator about how much the MID matters.
So please, take action to Preserve, Protect and Defend the MID. No economic recovery is possible without a vibrant housing market. Please Take Action Today.
It seems that the guberment is waging war against the people.
How long will it take for the people to do something about this?
Our country seams to have been high-jacked, and only a few people are doing something about it..
The thing is, the orchestrated melt down of the housing market and economy as a whole, is going to get worse. If we do not dig our heels in and fight back! We can’t even trust the courts for justice, anymore. They’ve been bought off.
The Banksters, and their politicians, who have taken control of our country, need to be removed from our midst, and housed with Bernie Madoff. They only have their own best interest, not the peoples interest, at heart.
I always look for solutions, and I am working mine. I invite those who are feeling like I do, to do something about it.
We have to unite, and confront this illegal cartel, before they really bring down the hammer. Because if we don’t remove them, it will only get worse.
Amen Ralph. I suggest EVERYONE do a bit of research on it ALL. The more you do- the more you see a very disturbing trend. Since speech = money (as campaign finance law says it is.) Who gets all the speech? And now that “Corporations = people” and now have the supreme courts blessing to spend all Corp’s like on any campaign. What will the corp’s want to support? Yep! things that benefit the corporation. How can we the people compete with that? Don’t say I’m a liberal for saying this, (I’m not) or it’s class warfare (I’m all for the rich and poor, but it’s not a level or -even near level- playing field.) All people are created equal?!@#$ Not anymore… All the label infighting- plays straight into the game they -love- us to play and war with ourselves while they steal it all right in front of us. Wake up, and start calling everything what it is ‘corruption / law breaking / cronyism, a two tiered legal system, and politicians beholden to campaign contributors… and PLEASE educate others…
I am completely aware of what is going on. I have been following this trend for some time now. i have done my research, and came to a conclusion. Either we give up and let them turn us into debt slaves, or we revolt. They offer no middle ground.
I suggest that everyone check out Alex Jones today. infowars.com
Alex welcomes back to the show author and journalist Nomi Prins, who will talk about the economy, the seismic debt increase and Treasury Secretary and former Federal Reserve honcho Tim Geithner. Before becoming a journalist, Nomi worked on Wall Street as a managing director at Goldman Sachs, and running the international analytics group at Bear Stearns in London. Her latest book is It Takes a Pillage: Behind the Bonuses, Bailouts, and Backroom Deals from Washington to Wall Street. Alex also covers the latest breaking news, including the latest DHS terror alert system, and takes your calls.
Thanks to the American Guild of Appraisers (AGA) for their efforts on Capital Hill! The AGA represents the “boots on the ground” appraiser and has the financial and political backing of a 10 million member strong organization. However, in order to maintain that relationship, the AGA needs to sign up more appraisers. We can actually have a voice with your support. AGA contacts: 800 660-1835, alzgal1@gmail.com, or http://www.appraisersguild.org/apply.htm
ALL ROADS LEAD BACK TO THE BANKS PERIOD! The AMC’s are controlled or owned by the banks and for the banks. The AMC’s make appraisers work 24/7, with no vacation. They have no liability!! Unless you conform like an ameba to each AMC/lender/FNMA/Freddie guidlines and/or their interpretation of what COMPS are allowable and crazy words or comments that they feel are necessary that have no meaning to the VALUE. If that does not drive you insane, then the icing on the cake will be the Uniform Mortgage Data Program that will go into effect Sept 1, 2012 to make field specific standardization requirements for each appraiser. Anotherwords zapping our data to make AVM’s. After they have eliminated qualified appraisers, they will cry that they have nobody to do the job so WE THE BANKS MUST! The Dodd Frank paves the road for the banks to hire Employeed Appraisers. How can this be. I certainly do not see how independance can exist, if you bite the BANK hand that feeds you. Everyone (Appraisers, LO,Real Estate Agents) STOP pointing fingers unless it is at yourself for not standing for something. 8 Trillion reasons to stand up and say enough is enough. You, your family and your neighbor need you to.
Who put in place the Uniform Mortgage Data Program? That sounds 1,000 times worse than HVCC.
The people who are datamining appraisal data to lighten their workload. FACT.
Allowing borrowers to order appraisals is a plan that would work and with the proper implementation, conform to USPAP. It would make the current Bank/AMC business model backfire. No more AMC! Appraisal independence is preserved because the borrwer will have the appraisal in hand before discussing any loan amounts with the LO. I have talked about this with my local congressman and the States Attorneys General office. They generally agree with the logic but this obviously needs to become a more popular issue before anything happens.
Good idea!!
The borrower is told to shop lenders, title Co’s., escrow, but they can’t choose or shop appraisers. In our area they get the appraiser with the fastest computer. Also why can’t appraisals be transfered? I do a divorce appraisal, the client wants to refi, they can’t use that appraisal they must go to a lender use an AMC pay again for the same thing. The borrower is also getting screwed on this independance deal.
We as a Country are lost, we are lost like a blind guy in a western bag bag film.
4/20/2011 Rockies 10 – Giants 2
We’ve started another winning streak!
You are totally wrong and give too much credit to the dirt ball no doc kings . The people that have jobs and can pay dont walk from a home. Loss of jobs is why we are in this mess , and that happend when people realized homes are not worth what they had inflated to plus every Joe Smo became a builder and we had over supply and lack of demand . Then equity went down so we could not fuel the economy with easy money pulled out by a cash out of home equity loan . People used to print month from fake overinfglated equity and go spend it like it would never end. That alone created so many jobs, but that had to end , and it will never feel like that again . As tight as we ae now that is how life will be , no more money tree in the front yard . I have said it over and over , less supply and ,more jobs will now cure our problem . Do you think there are that many no doc sub prime deals out there ? Even if there where if the people had jobs they would pay the mortgage . Think about it .
I have always stated that the housing mess is caused by a lack of jobs, and it will be improved only by significant and sustained job creation. Cut corporate tax to a flat 10% and see how jobs creations take off. If their job is stable, the very vast majority of folks will pay all of their bills. “Real estate goes by way of jobs.” Period.
Again Bad Appraisers and bad LO is mainly the reason for the 8 trillion in equity lost, so now we must pay for not policing ourselves. There are million of people losing there homes and life saving, what going to happen to them when it’s time to retire if we allowed this industry to continue down the same path. Most of the people who are losing thier homes, got a bad deal right out of the gate, a foreclosure waiting to happen.
Neither was responsible for the 8 trillion equity loss. Appraisers just report the data and LOs never designed a loan program or underwrote a loan program. The corruption was at a much higher level.
LOL-
Bad consumers dude! Plain and simple. Sure there were some unscrupulous folks out there, but they didn’t create this mess. The banks that created the programs, and the idiot borrowers who took advantage of the programs are just as, if not moreso, culpable.
Any entity/person/business and EVERY government group/agency/department should have to take a USPAP course each license period. As appraisers we take and pay for banking seminars with no CE just to be wise to to industry methods and general direction. ETHICS. ETHICS. ETHICS. Tell me where I can fund ethics for our government wall street folks and i’ll send a check. The Appraisal Institute is nothing more than a name, their courses and products are short sighted, incomplete and overpriced. They are more worried about being sued for typo’s then what they are representing. I believe that the only way any one is going to get represented properly is for NAMB NAHIP AI appraisers loan officers to join NAR and NAR accept appraisers. NAR has green and a lot of it… They get things done.
I am being slowly convinced that the lending industry has been cultivated and what will be left is a communist industry with a new generation of leaders, our children, who are in twitter Facebook land that cannot claw their way out of a wet paper bag. This is the way the larger macro and global economy is heading; into communism, into welfare and acceptance of poverty. Just my observation…
Too many appraisers not enough deals , also comps and the market set values not appraisers. Most appraisers think the home they own is worth 25000 more then it would sell for , my point is what they think is not the value . Value is set by recent comparable like comps in any market. It works both ways , no one complained when a home went from 300,000 to 550,000 from 2001 to 2004 . Numbers dont lie , what people are willing to pay is the true value and again the culprit is supply and demand , way too much supply and more to come . Get rid of the inventory and your value will go way up
???????? When was the last time you made a post that made sense?
Okay, guys – let’s start connecting the dots, for God’s sake!
First it was the appraisers. Then, the brokers, then the LOs – bottom line… everybody is guilty – EXCEPT THE SEC!!!!
Are appraisers, LOs and Brokers supposed to think it’s really cool to go ahead and renew their licenses? For what? To have their income capped? Who’s kidding who, here? When are we going to start connecting the dots, for God’s sake?
The only people NOT considered guilty in this mess is the SEC, FED, and the administration at large. I think Nancy Pelosi should have to prove her citizenship and show me her W2 – and then we can have Sheila Bair (FDIC Chief) check her out. Meanwhile, Obama is already campaigning for 2012!!!
Is he serious? The man is the ultimate puppet! We need to clean house – and quickly – if we have any hope of stopping the massive corruption going on right now.
Even when you clean a shower soap scum comes back , give up bitching about DC it has been that way since the King was out of here adn it will not change
We have to keep complaining and replacing the monkeys in DC. Corruption breeds corruption. It’s time all the bad seed go.
“The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.” Cicero – 55 BC
And if you remember your history Rome rotted from within
And as far as Monkeys go:
If you start with a large cage containing five monkeys and inside the cage, hang a banana on a string from the top, then you place a set of stairs under the banana, before long a monkey will go to the stairs and climb toward the banana.
As soon as he touches the stairs, you spray all the other monkeys with cold water. After a while another monkey makes an attempt with same result … all the other monkeys are sprayed with cold water. Pretty soon when another monkey tries to climb the stairs, the other monkeys will try to prevent it.
Now, put the cold water away. Remove one monkey from the cage and replace it with a new one. The new monkey sees the banana and attempts to climb the stairs. To his shock, all of the other monkeys beat the crap out of him. After another attempt and attack, he knows that if he tries to climb the stairs he will be assaulted.
Next, remove another of the original five monkeys, replacing it with a new one. The newcomer goes to the stairs and is attacked. The previous newcomer takes part in the punishment… with enthusiasm.
Then, replace a third original monkey with a new one, followed by a fourth, then the fifth. Every time the newest monkey takes to the stairs he is attacked. Most of the monkeys that are beating him up have no idea why they were not permitted to climb the stairs. Neither do they know why they are participating in the beating of the newest monkey.
Finally, having replaced all of the original monkeys, none of the remaining monkeys will have ever been sprayed with cold water. Nevertheless, none of the monkeys will try to climb the stairway for the banana.
Why? Because in their minds… that is the way it has always been!
This, my friends, is how Congress OPERATES …… and this is why, from time to time, all of monkeys need to be REPLACED AT THE SAME TIME.
The elequence and beauty of your prose brought a tear to my eye. I will be copying and pasting this for later use. Probably around the 1st of November in 2012. Thank you.
Bring back the King tax everything if you dont pay you get hung that will solve all our problems
Your comments about the appraising industry are right on. There are many reasons why the Feds have been able to take this “Profession” and reduce it to an “After School Special”. The biggest and main one is just what you said we are fighting for, INDEPENDENCE. Because we are so independent, we will simply not talk with a single voice. Because our buzz word is our “opinion” we can not seem to agree. Our own trade groups do not support us, for example the Appraisal Institute (AI) which is the largest of the groups really only care about Commercial Appraisers since they are the bulk of their membership since laws were passed to not allow the use of designations to way on appraiser choice. The NAR does not care about appraisers since they split with the AI years ago and attempts to work together over the last few years were abruptly stopped when the NAR said No Thank You to working together. The Feds have rules in place that say that any federally sponsored loan MUST have an appraisal, oopps not if we are doing the loan our selves we can use BPO’s or Computer Generated Valuations. Until we hit bottom, which I do not believe we have done yet there is no reason not to allow the big banks to continue to rape the buyers of properties with higher fees and less reliable services. The sad thing is, by the time they realize what they have done, there will not be enough appraisers left with any experience to do the work. Hey, under the current rules it only takes 2 years of training to become an appraiser so expect closing times to be extended and get those 730 day locks ASAP. Good Luck!!!!!!!!!!!
I see a riper and riper environment for things such as portfolio lending and digging into these laws to find a a way to get the same thing done without falling under the umbrella of the over reachers. P.S.–where is the 100 year loan and streamlines for all?