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Posts Tagged ‘Bob Moon’

My First Post: July 31, 2005 APM Marketplace Radio’s “Appraising the Appraiser”

June 18, 2014 | 10:21 am | Milestones |

APMmarketplace logo

It is hard to believe it has been nearly 9 years since I wrote my first blog post. Back then I was very frustrated with real estate world around me. The housing market was booming and my appraisal competitors were increasing their staff size by a multiple of 20 (they’re now essentially out of business). We weren’t part of the (fool’s) gold rush.

Apparently I had missed a key math and ethics class in school that would help me understand what was happening and why it was happening. Everyone seemingly was losing losing their minds – appraisers, consumers, banks, rating agencies, investment banks, investors – to a word – everyone. It didn’t help that national appraisal organizations, all of whose memberships had been dropping since appraisal licensing was introduced in 1991, did not understand or were not willing to speak out about the obvious problem. Appraisers were not allowed/not able to be a neutral valuation experts for lenders to make informed decisions on lending/risk of their collateral – lenders just didn’t care because they could off-load the risk to investors around the globe. The appraisal industry was converted nearly overnight to “deal enablers.”

I saw my career ending in 3 years if I didn’t do something. I did the only thing I could think of – start talking openly about the lack of independence the appraisal industry had at that time (amazingly, how little has changed in this regard). No appraisers I were aware of were speaking openly about the problem in 2004-2005 – our industry was living in constant fear of alienating their lender clients. Since I was losing lender clients to my rapidly growing competitors who were morally flexible, I really had nothing to lose.

My first blog post was a June 23, 2005 interview with Bob Moon at APM Marketplace in a segment called “Appraising the Appraisers” My industry was a symptom of a larger problem that eventually crushed the global economy – a credit crunch.

The original APM audio link is now broken but I have it here (I hope APM doesn’t mind).


It’s a time capsule and (I believe) worth a listen.

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“Appraising the appraisers” on National Public Radio

August 1, 2005 | 9:37 pm | Public |

A few years ago, I decided to be more outspoken about the predicament that appraisers are in. We really don’t have a collective voice over the issue of the flawed structure that currently exists in our profession. It is essentially this:

Those who are paid on commission in the origination of a mortgage, determine which appraiser(s) to use. A system of checks and balances no longer exists.


Bob Moon of the Marketplace show on American Public Media radio showed great interest in the story. He researched and put together a broadcast aired on National Public Radio on June 23, 2005.

At about 6 minutes, it was one of the longest stories they had done in the past year. That meant either I was a fascinating interviewee or the story was compelling. (I assume the latter but was secretly hoping it was the former).

American Public Media “Market Place” Radio Broadcast Appraising the appraisers

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