Appraisal Bias

[glenn walker]

Agree I call strike three on Grant

 

[CGinMN]

If she doesn’t leave the batters box toss her ***.

 

[alebrewer]

I'm sure we're all guilty of losing interest in a discussion when we've been shown the error of our way - I know I have. It's much easier to bow out of an anonymous forum than to fall on the sword.

 

[glenn walker]

If she doesn’t leave the batters box toss her ***.

I will call strikes on her even if its a ball - Once she told me I was not qualified to be an appraiser that was it LOL

 

[J Grant]

Waivers don’t exist because of statements appraisers made about point values and range values. What a weird argument.

Imo the statements helped the stakeholders rationalize thier use. Appraisers said for years right here on this board they were not good enough to derive a point value and similar.

 

[J Grant]

And they don't account for half the volume going away. Rising rates accounted for that...

Do your research please, into how much lender order volume is now waiver/value acceptance ( regardless of interest rates )e

 

[J Grant]

Umm... just admit when you're wrong, J. Your comment about how certain appraisers statements over the year imo helped justify the waivers which wiped out half the appraisal orders covers the 'appraisal waivers' part of your statement, but there's still that pesky 'AND VALUE RANGES' part of the statement. How do you sweep that one under the rug?

Again, you are using that to pretend I am against value as a range. I am against certain statements appraisers made. If you can not undertand the difference there is nothing I can do about that.

 

[J Grant]

And they don't account for half the volume going away. Rising rates accounted for that...

od or bad?​

April 6, 2021 By Ryan Lundquist 56 Comments

Appraisal waivers have really exploded in recent years – especially during the pandemic. But how many are there exactly? Let’s look at actual numbers to walk away with some perspective. These stats are from January 2021 from AEI.
QUICK SUMMARY:

• 47.4% of all Freddie Mac loans had a waiver
• 44.5% of all Fannie Mae loans had a waiver
• Waivers are far more common during refinances
• Only 10-12% of purchases had an appraisal waiver in January
• Non cash-out refinances have the most waivers (67-69%)
• The higher your loan-to-value, the lower your chance of a waiver
• Waivers have seen a dramatic increase during the pandemic

 

[J Grant]

Actually I have always promoted eliminating Point Values and only Using Value Ranges but now I only call balls and strikes

That is why I said what I said to you, which was wrong of me to have said it, but think of how damaging your advocating to eliminate point values might have been - you and the rest of the chorus - is it coincidence Fannie and Freddie did away with point value appraisals for aprox half the volume? Where did they get the justification for it if not from the appraisers themselves...a

 

[CGinMN]

Waivers are currently like 8% Freddie, 18% Fannie. That is obviously old data and you know better, or you should.