That is a quote from the article by Jeff Lazerson in The Orange County Register on May 23, 2019. The article is about Fannie and Freddie maintaining property valuation data and how it is harming consumers. The article touches on many things starting with HVCC and ending with the true cost of bidding wars. Consumer harm is expressed when they are paying 33% more for an appraisal because of appraisal management companies.
What is telling, the author, Jeff Lazerson, is a mortgage broker and comes right out and states ” What a disaster” in describing today’s mortgage environment.
This is a good read and worthy of sharing to all your contacts. Help spread the word on consumer abuses.
Read the entire article here.
The AQB wants your comments on PAREA!
Are you familiar with the Practical Applications of Real Estate Appraisal?
The appraisal qualifications Board is developing virtual learning for residential appraisals. This is in response to the difficulty in obtaining a supervisor and is designed to help encourage new entrants into the profession. There are a lot of positives to this type of learning, and of course some negative as well. The AQB wants your input on the program by June 1st. Read through the 12 page discussion draft and provide your comments directly to the AQB.
Our sister Coalition , The Arizona Association of Real Estate Appraisers (AAREA), has developed their own survey to gather member responses. They have invited us to participate in their survey as well. Please note, your responses to the AAREA will not count toward Arizona responses, but the results will be forwarded to the AQB. Take the AAREA survey here.