Appraiser Lori Noble waxed on the state of the valuations industry, the appraiser image and the overall deregulatory environment in a live Twitter interview with HousingWire Editor-in-Chief Jacob Gaffney earlier this week.
The conversation is part of the larger cover story on the valuations industry being published in the March issue of HousingWire magazine.
You can check out the conversation here, or by following the hashtag #AppraiserAnswers on Twitter to see more responses.
#AppraiserAnswers: We have some great organizations. Until recent, trade groups & financial institutions have spoken on our behalf. Today, there are more than 30 state appraiser coalitions. It’s working to grow a stronger more unified voice. 1/2— Lori Noble, SRA (@noble1_lori) January 31, 2018
#AppraiserAnswers: Easy, we are always the fall guy. We have no gravitas in the lending process, are sole practitioners, & last to the party. 1/4— Lori Noble, SRA (@noble1_lori) January 31, 2018
#AppraiserAnswers: It’s strange to have an institution in receivership trying to expand the credit box. The GSEs PiW (appraisal waivers) set a tone that implies no appraisals on collateral is ok. 1/4— Lori Noble, SRA (@noble1_lori) January 31, 2018
#AppraiserAnswers: There was never a shortage, only a shortage of appraisers willing to work at 50% or less the market rate. Lenders and AMCs make it nearly impossible for appraisers to compete in the free market with the monopoly they enjoy in many markets. 1/2— Lori Noble, SRA (@noble1_lori) January 31, 2018
#AppraiserAnswers: This isn’t the same situation we saw with the housing bubble. Cheap and quick = value as an afterthought. Wall Street now owns many AMCs now driving mortgage lending valuation and I am confident in saying that Wall Street has never understood housing. 1/3— Lori Noble, SRA (@noble1_lori) January 31, 2018