Hybrid Appraisals

[shrubberyvaluation]

But they don't explain why that is more important than doing it right.

IIRC the explanation is so their partners can lock in their borrowers before they can shop around.

 

[Justinjla]

The person here who claims to be from FNMA says they want quicker turn times.

What are you referring to?

 

[Non Sequitur]

Ask Scott and the gang of six he had breakfast with today. Would you like an engagement letter from them? 24 hours for desktop and 48 hours for a full 1004, regardless of complexity.

Not a boots on the ground appraiser among them. Sadly we're not even in the game at this point, and worst of all we're supposed to pretend the guys at that table aren't lobbying for their staff appraisers and staff PDC runners.

 

[shrubberyvaluation]

Today, with low volume, we typically don't see them faster either. During high volume periods like we had a few years ago, we did see 5-6 days faster on average. As this scales, there could be opportunity for more efficiency. For example, I could see a scenario where a PDC is captured at the time a property is listed for sale. When the loan is initiated and the lender receives a hybrid offer, in theory, the appraisal could start immediately. Could get to a point where you see 24-48 hour hybrid appraisals.

I remember another post where you mentioned quick turn times to lock in borrowers from shopping around but not sure where it was.

 

[Justinjla]

I remember another post where you mentioned quick turn times to lock in borrowers from shopping around but not sure where it was.

Any post about hybrids and turn times is with respect to high volume periods when appraisal turn times are extended out weeks. In today’s market, they are not faster.

 

[DWiley]

Not a boots on the ground appraiser among them. Sadly we're not even in the game at this point, and worst of all we're supposed to pretend the guys at that table aren't lobbying for their staff appraisers and staff PDC runners.

Many claim to want “boots on the ground” appraisers involved in things, but as soon as a “boots on the ground” appraiser gets involved they are then instantly labeled as not being an appraiser anymore. I was in the field for just short of 30 years, including 20 years as a partner or owner of a firm. And I still interact with field appraisers in the field quite often, including meeting regularly with old buddies in Nashville. I am pretty confident that I have more interaction with field appraisers than most who post here. Many appraisers I talk with tell me that hardly ever talk to another appraiser at all.

 

[Mejappz]

Not a boots on the ground appraiser among them. Sadly we're not even in the game at this point, and worst of all we're supposed to pretend the guys at that table aren't lobbying for their staff appraisers and staff PDC runners.

And let’s not ignore the bigger picture here. When key valuation policy is being shaped behind closed doors—without a single independent, boots-on-the-ground appraiser at the table—it raises serious questions about fair competition and potential antitrust concerns.


We’re watching decisions being made by entities that stand to benefit financially from replacing independent professionals with their own internal staff—whether it’s staff appraisers or staff PDC runners. That’s not just bad policy—it’s a conflict of interest. And worst of all, we’re expected to stay quiet and pretend this isn’t happening.

 

[Non Sequitur]

Another one fired:

MSN

Nancy Jardini, Fannie Mae's (OTCQB:FNMA) chief compliance and ethics officer, has reportedly been fired as part of a wider leadership overhaul under new Federal Housing Finance Agency chief Bill Pulte.

Pulte, appointed by President Donald Trump to oversee mortgage giants Fannie (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC), "has booted" Jardini, Semafor reporter Eleanor Mueller wrote in a post on X, citing one person familiar with the decision.

 

[Mejappz]

Another one fired:

MSN

Nancy Jardini, Fannie Mae's (OTCQB:FNMA) chief compliance and ethics officer, has reportedly been fired as part of a wider leadership overhaul under new Federal Housing Finance Agency chief Bill Pulte.

Pulte, appointed by President Donald Trump to oversee mortgage giants Fannie (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC), "has booted" Jardini, Semafor reporter Eleanor Mueller wrote in a post on X, citing one person familiar with the decision.

Meanwhile, the Wall Street Journal reported last week that the Trump is exploring an executive order that could pave the way for privatizing the government-sponsored enterprises.

 

[ucbruin]

Can you imagine when FNMA and freddie goes private....
And they make all rules....
They'll probably decide appraisal are unnecessary expense....