Do I need an appraisal license to value the assets of a real estate investment trust (REIT) or a mortgage-backed security?
No. An analyst on Wall Street can mass-appraise hundreds or thousands of properties owned by a publicly traded real estate investment trust (REIT), a corporation like Wal-Mart or McDonald’s or homes collateralized in mortgage-backed securities without a real estate appraiser’s license. Investors can then rely on these valuations to make investment decisions worth billions of dollars. Ironically, that same Wall Street analyst, while able to legally value 1,000 homes collaterizaled in a mortgaged-backed security sold to investors, is generally not permitted to value a single home for a mortgage in most states if he has not completed hundreds of hours of qualifying and continuing education, passed at least two state exams, logged thousands of trainee hours and been granted at least a residential license from his state. At the end of the day, though, the First Amendment of the Constitution trumps all, since it prohibits the making of any law infringing on the freedom of speech. Anyone has
No. An analyst on Wall Street can mass-appraise hundreds or thousands of properties owned by a publicly traded real estate investment trust (REIT), a corporation like Wal-Mart or McDonald’s or homes collateralized in mortgage-backed securities without a real estate appraiser’s license. Investors can then rely on these valuations to make investment decisions worth billions of dollars. Ironically, that same Wall Street analyst, while able to legally value 1,000 homes collaterizaled in a mortgaged-backed security sold to investors is generally not permitted to value a single home for a mortgage in most states if he has not completed hundreds of hours of qualifying and continuing education, passed at least two state exams, logged thousands of trainee hours and been granted at least a residential license from his state. At the end of the day, though, the First Amendment of the Constitution may trump all, since it prohibits the making of any law infringing on the freedom of speech. After all
Related Questions
- I heard that REIT(real estate investment trust funds) are the way to go, I plan to invest in REIT through Fideletity, and was wondereing which company has the best reit funds I can invest in?
- How is this different than buying property from a real estate agent or buying into a REIT (Real Estate Investment Trust) with a broker?
- What is a REIT?
