As one fellow appraiser stated, "I have to laugh. Do you know how many supervisors have lost their licenses or received heavy-handed treatment for not supervising trainees on inspection? Now they are saying inspection is not really that important as long as the appraiser "believes" it is reliable. This is worse when you hear stories about the types of people doing inspections. We know. No license, no training, minimal intelligence."
The smoke and mirrors of making things easier, faster, or cheaper for consumers is such an outright lie that it is laughable. But not in a good way - it is laughable in a pitiful disgusting way.
The real reason for these events is to unshackle any oversight to lenders. If appraisers are not the eyes and ears of the market and keeping things in check - who will be? Someone with no training and minimal intelligence, that's who.
There is great risk in this weak and pitiful attempt to commoditize the function of appraisers.
There is NO upside to this proposal WHATSOEVER, save for the unbridled greedy lender's self-interests.
The lenders want to be free from any oversight, and these almost worthless hybrid/bifurcated/desktop - or whatever you want to call them - "appraisals" or "valuations" will do that. No professional is going to work for the insultingly low fees that these so-called appraisals will generate - and equally so, no work of any meaningful substance or quality will be produced by them either.
This is one more giant step towards ruin for the ENTIRE country - as was played out so vividly in the great recession of 2008. But we don't want to remember or deal with inconvenient facts or any topic that may be uncomfortable, do we? No Sir. Profit and unrestrained access to rape - yes, rape - the market in the name of profit are what matters MOST. How much, exactly, profit is "enough" for lenders? Would lenders be happy if, by this time next year, their profits doubled? Happy - yes. Satisfied - NO.
I am utterly sickened by these developments. It is not fooling anyone. We all know the motives, and if the many instances from the "too big to fail lenders" have not ALREADY proven how much lenders can NOT be trusted - then there is NO further need of any discussion of this. We can ignore the robo-signing - the falsified statements - and the outright lies, all of which are too numerous to even keep track of anymore. The lenders have repeatedly shown their true colors, and through THEIR actions have brought this entire country to its KNEES during the great recession. Sadly, there is NO reason they won't continue to do so as long as there is an easy taxpayer BAILOUT for them available at the stroke of a pen.
Now think about that. And do what you want to do. Just don't sugar coat it or lie about it. The public is not nearly as blind and stupid as lenders would like to believe they are.