Chief Operating Officer at Valuation Link and Metro-West Appraisal
A long-time home appraiser in Arizona and Michigan, Brandon Boudreau discusses what appraisers’ relationships with mortgage lenders and banks looked like before the crisis and how those dynamics changed with the introduction of new regulations in 2010 via the Dodd-Frank Wall Street Reform and Consumer Protection Act, alongside other impacts Dodd-Frank has had on appraisers. Boudreau discusses how speculation affected appraisers’ work in the run-up to the crisis and how he felt that prior to the crisis, the appraisal industry’s tendency to be fragmented affected appraisers’ capacity to identify bad actors. He identifies the loose lending requirements as a primary cause of the crisis and emphasizes the role appraisers need to play as the last safeguard against bad lending practices.
Date Recorded:
March 23, 2022
Interviewed by:
Carolyn Chen
Brandon Boudreau has been involved in the appraisal business for over thirty years, beginning in his childhood as part of his family’s business. He co-founded Valuation Link, a national appraisal management company, and served as Chief Operating Officer at Metro-West Appraisal, both of which have been acquired. He has served in several industry advisory boards such as The Appraisal Foundation Advisory Council and the Collateral Risk Network.
Boudreau, Brandon. “TRID and Its Effect on Appraisal Compliance.” Mortgage Banking, September, 2015
In this article, Boudreau discusses appraisers’ reservations regarding the CFPB’s Integrated Disclosure rule (TRID) as part of the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA).
The article discusses the decline in the number of certified and licensed home appraisers since 2007, citing the number of experienced appraisers who are beginning to retire coupled with the more stringent certification requirements introduced in January of 2015. The article also mentions how many appraisers believe the Home Valuation Code of Conduct of 2009 has contributed to declining numbers in their profession. Brandon Boudreau is quoted in this article describing how busy appraisers currently are.
