I posted again on this very important topic matter.
Complete with a dozen more unique articles that licensed certified and certified general real estate appraisers personally took the time to write. Articles and information you will find nowhwere else online.
Please help save the residential real estate appraisal industry, or at least the half that previously used to serve the GSE twins. The industry is right now shedding record numbers of licensees as appraisal modernization processes are implemented industry wide.
The fraud follows the lack of independent checks and balances. At every step along the way, the sidelining and removal of the independent real estate appraiser from the mortgage lending process has coincided with increases in fraud and continued housing price acceleration. One independent non appraiser guy also looked at this and it’s quite the coincidence what data he came up with, I’ve linked his website in the above post as well.
The open secret they hope you will never learn about; How the removal of the independent real estate appraiser opens the door for all this insider fraud that leads to increased fraud and accelerated housing prices. This is called the appraisal modernization process, and was implemented through force and coercion, a litany of undeserved slander and misrepresentation by way of the PAVE task force. The previous presidential administrations PAVE task force has been removed from the White House pages, but all their goals and policy changes were successfully rushed through and are now firmly entrenched and integrated into the GSE mortgage lending process. Couple that with the appraisal management companies whom are agents of lenders and facilitate institutional industry wide blacklisting of any appraiser whom dares to prioritize consumer protection first, well, you end up with what we have now. Rampant fraud and a destructive force of institutional investors speculating in residential housing. They’ve patented the processes which the tech has been in the works for many years and is just now being implemented and finalized, the final roll outs. The ‘valuation equity’ argument was a grand excuse and redirection to justify normalization of an entirely new process in lending, a process which removed vitally important independent checks and balances systems.
