Fannie & Freddie To Update Appraisal Dataset & Forms

[Meandering]

I read the words and I do not see what you imply.

The speculation was underlined in Red if that helps you any.

 

[DWiley]

The speculation was underlined in Red if that helps you any.

What you underlined, the statement that Fannie has not yet set the SOW or reporting, that is just a fact. No speculation involved

 

[timd354]

What you underlined, the statement that Fannie has not yet set the SOW or reporting, that is just a fact. No speculation involved

Danny, facts don't matter here at the AF, lol

 

[Mr Rex]

Marion has the X Ray glasses they used to advertise in the back of comic books in the 60s and 70s. That is apparently how she is able to read between the lines in a way no one else can or does...



FWIW, Marion is the one speculating. But she thinks its truthiness.

 

[George Hatch]

LOL. And yet again, where is the singular voice of input from the appraisal trade association, that represents a critical mass of individual appraisers in the profession? ...chirp, chirp, chirp... I mean, don't ya think, just maybe, if the largest player who influences the use of appraisals decided to do some experimenting and modernization of appraisals, that it might, just maybe, want to receive some consult from appraisers as a whole? I'm sure appraisers would love to have a say in it (or would they?). Too bad FNMA doesn't really have that resource to draw from. Hard to be mad at them when the option isn't even there.

...and the broken record goes on...until appraisers organize into a single voice, their fates will continue to be dictated to them by the lender clients. Look in the mirror for the problem folks.

And say what? That the lenders shouldn't be allowed to use these because it will cut into our money? That isn't what The Appraisal Foundation is for.

What we should be working on is getting appraisers to come to an understanding that they need to charge a much higher hourly rate for the hardest part of the appraisal process. And stop bringing in trainees to dilute our own position in the market. Unlike user decisions, appraiser conduct is something we CAN influence from our end.

 

[Joe Flacco]

Who needs to dilute supply when they can just write the rules to multiply supply.

 

[Tim The Enchanter]

Fannie is the puppet master pulling the strings.
Obey your master.

 

[Joe Flacco]

What's going on is there are appraisers that are profitable at low fees because they do shoddy work. And then clients and AMCs can't tell because they assume standard 1 compliance. At that point all licenses are equal.

 

[timd354]

What's going on is there are appraisers that are profitable at low fees because they do shoddy work. And then clients and AMCs can't tell because they assume standard 1 compliance. At that point all licenses are equal.

And there are undoubtedly appraisers who are even more profitable at high fees while also producing shoddy work

 

[Joe Flacco]

And there are undoubtedly appraisers who are even more profitable at high fees while also producing shoddy work

No doubt. But then if you are accepting appraisal reports from the bottom 80% of appraisers then u probably get better overall results than if accepting from only the bottom 20%.