Hybrid Appraisals

[alebrewer]

Here's why I'm not optimistic about the way hybrids are headed; The higher the fee the more likely AMC and national staff will take all of them. And that is happening now. It's too easy with Dodd-Frank reciprocity to license in multiple states and squeeze out independent appraisers.

Yeah, the whole 'AMC Staff Appraiser' model is a bit like a dark horse. We know they're out there - we just don't know how many there are. Don't you think too, though, that its a bit of a slap to those appraisers who take pride in their work - knowing that the quality some noob desk jocky puts out is just as acceptable to the GSE's as a seasoned veteran?

 

[Non Sequitur]

Yeah, the whole 'AMC Staff Appraiser' model is a bit like a dark horse. We know they're out there - we just don't know how many there are. Don't you think too, though, that its a bit of a slap to those appraisers who take pride in their work - knowing that the quality some noob desk jocky puts out is just as acceptable to the GSE's as a seasoned veteran?

I agree 100% on all points.

And FWIW, when I look at the published stats on mortgage volume the numbers are down, but appraisal work shouldn't be this slow. Either AMC/national firm staff are taking an oversized % of volume because they are able to lock down markets, or waivers/hybrid numbers are much higher than the GSEs are admitting.

 

[frogman]

Who decides what data to collect about the property at the inspection? Who determines the scope of work for the inspection? All these posts and no one can answer?

 

[TC]

Who decides what data to collect about the property at the inspection? Who determines the scope of work for the inspection? All these posts and no one can answer?

It's a form you fill out, like the front page of the standard appraisal form.

 

[djd09]

Who decides what data to collect about the property at the inspection? Who determines the scope of work for the inspection? All these posts and no one can answer?

'The appraiser must be prepared to demonstrate that the scope of work is sufficient to produce credible assignment results.'

be aware of back seat drivers...

 

[Tim Hicks (Texas)]

It's a form you fill out, like the front page of the standard appraisal form.

How many pictures?

 

[TC]

How many pictures?

Depends how many rooms in the house.

 

[Dublin ohio]

Who decides what data to collect about the property at the inspection? Who determines the scope of work for the inspection? All these posts and no one can answer?

The PDR for hybrids has more detail due to the large number of required data points and photos. Substantially more than any appraisal report I have ever seen.

Here is the guide

https://singlefamily.fanniemae.com/media/36481/display

 

[Justinjla]

Who decides what data to collect about the property at the inspection? Who determines the scope of work for the inspection? All these posts and no one can answer?

Uniform Property Dataset.

Uniform Property Dataset | Fannie Mae

To enhance data quality and consistency in property data collection, Fannie Mae and Freddie Mac (the government-sponsored enterprises or GSEs) have worked together to develop the Uniform Property Dataset (UPD).

singlefamily.fanniemae.com

 

[Terrel L. Shields]

The appraiser must be prepared to demonstrate that the scope of work is sufficient to produce credible assignment results.'

Just put your head in this here noose...