Before the ink was dry on FIRREA 1989, special interests were snipping away at it. Originally proposed field review requirements in FIRREA drafts for 1 in 10 appraisals would have made the Great Recession (TARP) impossible. Now those same interests are stripping away at the last vestiges of consumer and taxpayer property value protection. The formal appraisal. The MINIMUM level of protection that should be insisted upon.
Dear Ms Kahng:
My name is Mike Ford. I am Vice President – Special Projects; & Chairman of the American Guild of Appraisers National Appraiser Peer Review Committee; AGA#44, OPEIU, AFL-CIO.
I am writing concerning the upcoming June 20th hearing addressing “What’s Your Home Worth? A Review of the Appraisal Industry”
There is currently so much deliberate misinformation about real estate appraisers and appraisal needs in America, that we believe it is critical the House Committee and any related Sub committees hear from recognized national experts that are currently practicing independent appraisers. Further, those appraisers should be recognized professionals with no hidden agenda. Respectfully they should not be separate self-serving appraisal management company owners or managers. Nor should they be national appraiser franchisees circumventing AMC laws, that also directly benefit from reduced restrictions and standards for professional appraisers. Professionals nationally recognized for their efforts and contributions in preserving appraisal integrity and professionalism should be sought.…continue reading the rest of this post: Killing Consumer Property Value Protection