Wednesday, June 27, 2012

Appraiser Active in Washington, D.C.

While browsing at Tampa International Airport, waiting to board my flight to Washington, D.C., I picked up a copy of the Tampa Bay Times. On the tarmac, waiting to take off, I noticed a familiar face looking at me from page 4B; the Business Section. 

The headline:


I'm pleased the writer, Elizabeth Behrman, decided to include these points:

"The bulk of my testimony has to do with ensuring appraiser independence, and the value and importance of appraiser independence," Gregoire said.
"Buyers don't expect the appraiser to just rubber stamp the sale price," he said. "They want a good, honest, objective appraisal by somebody that has the necessary qualifications to do a credible job."
As long as the appraiser can demonstrate that his data is supported and correct, the lender should just lay off," Gregoire said.
For those interested, the testimony I am offering on behalf of the National Association of REALTORS is at this LINK, along with that of the other panel members.

UPDATE: There is a link to the video of the entire hearing at the link above.

This is what the hearing room looked like, just prior to 10:00 A.M. That's subcommittee chair Biggert preparing to gavel the meeting to order.


Shari said...

Frank, thank you so much for being such an eloquent voice. I would like to request some clarification if you don't mind. At approximately 1:33 into the presentation you respond to Mr. Sherman's final question to you. Your response references data sales time adjustments. Are you saying that AMC's are telling appraisers to rethink the reported results based on data gathered from previously submitted appraisal reports?
I do not associate with any AMC's am attempting to evaluate the situation with AMC. Thank you!

Anonymous said...

The headline should have read:

"Mr. Frank Goes To Washington".

Thanks for your work Frank. It's great to see people are still fighting what I consider to be the biggest scam ever forced upon the American public. BankRape is indeed the crime of the century thus far.

Had CBS had aired their 60 Minutes special on AMCs just prior to this meeting I believe we would have had a fighting chance. As it stands now the banks will win once more.