GSE Waiver & Data Collection Data

[Zoe]

I'll keep beating by dead horse. Commingling of fees is bad for public trust.

 

[Justinjla]

If you are partnering with these AMCs, why not make a condition that they allow appraiser trainees to inspect to be a partner with FNMA? That is someone who is accountable to the appraiser and someone the appraiser can train and trust since the appraiser takes all of the liability if you are wanting more flexibility. This is another reason people think that you are trying to eliminate appraisers.

I don't have personal experience but I hear enough from online about when appraiser's find the PDC made a mistake that they can see from the photos or they have a more reliable source the AMC says they have to use the less reliable source of the PDC. Do you partner with AMCs that force an appraiser to use a less reliable source? If so how does this help with accuracy?

I don't like putting my license and ethics on the line to rely on someone I don't know whose training consists of using the app on their own property over someone I trained and trust and furthermore being forced to use wrong information or have to back out and not get paid.

This is already a reality today. We encourage both appraisers and trainees to take on roles as property data collectors—always have and always will.

We work at an enormous scale. Are there occasional challenges like the ones you’ve brought up? It’s certainly possible. That said, we put in substantial effort to prevent these issues, and when they do come to light, we act fast to resolve them. In the situation you’ve described, the appraiser’s judgment should always prevail—full stop.

You’ve noted you haven’t personally engaged with these options. I recommend diving in: explore property data collection or a hybrid appraisal firsthand. Look at the revised certifications in hybrid appraisals, which were updated to shield you from liability when using property data collection. Reflect on how every appraisal you do already leans on third-party data. Review a property data collection report and get a feel for it. Don’t let isolated anecdotes shape your view of the bigger picture—see it for yourself.

If I can help you in any way, let me know how.

 

[chad hampton]

Justin, does it not cross anybody’s mind that there is fundamentally something wrong with having non-appraisers perform appraisal services just because it’s cheaper to do so?

Just because state boards have been threatened to the point where they’re scared to death to do anything does it mean it should be permitted?

 

[Zoe]

One of reasons me and Ms. Trice had such conflict is because she was a licensed appraiser and Yet she degraded others for her personal benefit.

Money was involved.

I have to leave. I'm going to beat my dead horse again and try to wake it up on separation of fees on truth in lending disclosures.

Money is not the root of all evil. The love of money is root of all evil.

 

[Zoe]

Joan is a beautiful blonde. I will give her that. Many deadly snakes are beautiful creatures.

 

[Non Sequitur]

This is already a reality today. We encourage both appraisers and trainees to take on roles as property data collectors—always have and always will.

First things first: The PDC products encouraged by you and pushed by AMCs pay in the range of $20-50 with a turn time measured in hours. THAT'S WHY most AMCs crowd source them to real estate agents and why most appraisers are not in that game. Second: Comparing an appraiser who has a trainee to PDCs is a stretch, the processes and relationship aren't the same .

 

[chad hampton]

There’s no such thing as a property data collector. Completely made up term by the snake oil creatures that work at the AMC‘s and GSE‘s. Helping each other out. Truly disgusting behavior for licensed professionals that are supposed to be a high moral and ethical character.

Those places can’t be purged fast enough

 

[shrubberyvaluation]

This is already a reality today. We encourage both appraisers and trainees to take on roles as property data collectors—always have and always will.

We work at an enormous scale. Are there occasional challenges like the ones you’ve brought up? It’s certainly possible. That said, we put in substantial effort to prevent these issues, and when they do come to light, we act fast to resolve them. In the situation you’ve described, the appraiser’s judgment should always prevail—full stop.

You’ve noted you haven’t personally engaged with these options. I recommend diving in: explore property data collection or a hybrid appraisal firsthand. Look at the revised certifications in hybrid appraisals, which were updated to shield you from liability when using property data collection. Reflect on how every appraisal you do already leans on third-party data. Review a property data collection report and get a feel for it. Don’t let isolated anecdotes shape your view of the bigger picture—see it for yourself.

If I can help you in any way, let me know how.

First things first: The PDC products encouraged by you and pushed by AMCs pay in the range of $20-50 with a turn time measured in hours. THAT'S WHY most AMCs crowd source them to real estate agents and why most appraisers are not in that game. Second: Comparing an appraiser who has a trainee to PDCs is a stretch, the processes and relationship aren't the same .

It seems extremely sketchy when the AMCs advertise its $100 an hour because the $50 fee and their expectation that it should take 30 minutes for the report.

Can you imagine having this for doctors. Have a random person who uses an app on themselves as training who the doctor has never met and can't even talk to. Have them use the app on people, the doctor has to treat based on their information and then tell the doctor they don't have liability if anything goes wrong (but yet they do). I get it that this is not apples to apples because people's lives are not on the line for a real estate appraiser, but this is for most likely the biggest purchase someone will make in their life. Yes this would give the doctor more flexibility, but to what end, who does it help?

It just seems so silly. Who does this flexibility to use someone trained by an app using it on their own home help?

 

[Joe Flacco]

There is nothing anybody can do to fight it. I mean, you guys are trying to go against big businesses that can orchestrate an "appraisers are racist" psyop. The planning of moving forward what they want forward is 2-3-5 years in the future.

 

[shrubberyvaluation]

There is nothing anybody can do to fight it. I mean, you guys are trying to go against big businesses that can orchestrate an "appraisers are racist" psyop. The planning of moving forward what they want forward is 2-3-5 years in the future.

Of course, its still good to have the information out there. I remember when it was being advertised hybrids were because appraisers were biased. As if a PDC can't be biased with no liability, whereas if an appraiser "lowballs" they will be dropped by clients, potentially lose their license, which act as disincentives to be biased even if one supposedly wanted to.