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Comment on Financial Reform Implementation

November 7, 2010

It appears that HVCC has created additional problems not intended but otherwise occurring. The appraisal industry is being regulated beyond what is needed. It appears to me that the banking industry calls the shots as this has one of the largest lobby’s in Washington.
I believe that the AMC industry is an offshoot of the banking industry, a middle man with, something akin to middle management; not really needed, but collecting a paycheck… a paycheck off the backs of real estate appraisers. Perhaps that is why fees have increased, certainly, the appraisers are not receiving these increases.
This appraisal profession has deteriorated rapidly especially from the late 1980’s with the blame of the S & L bailout to the present state. The greed of the banking cartel has not been slowed… it will continue… the demise of Glass-Steagall in hindsight was a mistake.

Due to the current Government rules and regulations for appraisers, the attrition rate for appraisers is up approximately 50% with no relief seen as the younger generation does not see a future in this profession. It’s almost impossible for an apprentice appraiser to make ‘any’ money with present regulations. Good luck. This appears to be the demise of the real estate appraiser as a profession.

Thanks so much,
Beth Strycharz

 


Last Updated 11/19/2010 FinReformComments@fdic.gov