The End of *most* Full Time Appraiser's ?

[ucbruin]

Those are rookie numbers even now UC come on.. It all depends where you live. I remember being a trainee and my mentor bought a multi-cassette tape package on the future of appraising, "we can land on the moon the future of appraising will be automated"

I'm still shocked 2 new construction clients keep sending me back out to the same subdivisions over and over but they tell me their investors require it. And as much as people say it's right around the corner the VA still has our backs.

Back in the day 5-8 per week were typically moms with young kids in school....
Today, I thought 5-8 per week was high....

 

[John Hassler]

Here’s a few Assessor jobs available in CA. Benefits typically add 25-35% to those salaries.

 

[John Hassler]

The state has a few jobs, too.

 

[glenn walker]

The problem in my area was direct lender orders paid about the same as the AMCs so my partner did almost all AMC work because he had a large steady order flow never sitting around waiting to get s few direct orders. When i managed a fee panel we developed our fee schedules off what our AMC charged. If they paid the appraser $400.00 we paid $425.00 to $450.00.

We closed the inside shop down because we lost money. Those appraisers all switched over to the large AMC. The problem is there was no shortage of appraisers in our area.

We paid guys in other State's much higher fees. Seperation of fees has no effect only what the appraiser collects in his pocket matters.

 

[Mile High Trout]

The state has a few jobs, too.

Take a step back and think about what they're investigating. And how that may effect the current situation with gse's and AMC's. Is that a new position?

Where to Look for More Fraud and Abuse at Fannie Mae - Appraisers Blogs

Fannie Mae has been a breeding ground for fraud & abuse, dismantling critical underwriting standards that once protected our housing market.

appraisersblogs.com

 

[Bobby Bucks]

I find those volume numbers....
Just as unbelievable as appraisers posting they are doing 5-8 full appraisals per week....

That's just basic human exaggeration tendency, much like our beloved POTUS from Queens who has made it an art form. I sorely miss the 5-8 a week times.

Search 'appraisal typing services' online. Appraisers putting their signatures on those products are stacking exponential risk. And it's going to blow back on them sooner rather than later. Jig is up. A storm is coming.

I hadn't even considered the rascals that use typing services, with hybrids, they could theoretically complete dozens of reports per day, possibly even more. Of course Fannie won't care, they have enough major corruption to deal with, they can't be bothered with the minor stuff.

 

[TC]

Actually, I'm kind of looking that way. The fees are just too low to deal with the risk. At least here in California. It doesn't seem to be a valued or needed service that it once was. More like a hindrance and an annoyance from all sides.... the borrower, the lender.... both sides would just rather skip the whole process.

Copy that.

 

[Non Sequitur]

On top of the mess AMCs, TAF, ASC, the institute has made of the profession, in an effort to pile on the AQB wants to consider real estate sales, construction, finance as experience for real property appraiser credentials. Yeah, the loan officers we are supposed to be insulated from may be able to use their experience to become licensed. And in a twist fit for a Hollywood blockbuster, our experience is worth nothing to gain their credentials.

 

[Fritz in NY]

Open a Drone Operation BIZ ??? All 2055's At least you see the exterior & market.

 

[Non Sequitur]

"Overall, inspection based waivers in March were 13.2% of the combined appraisal waiver (non-appraisal) solutions by loan balance, the same as last month. By number of loans delivered, inspection-based waivers were 18.7% of all waiver solutions.

Combined use of inspection based waivers and appraisal waivers in March was 15.5% by balance and 17.5% by loan count."

"Fannie Mae Valuation Acceptance + Property Data market share of inspection based waivers in March was unchanged at 74.7% on volume of $697MM, up 89.5% on February. There are 404 lenders who have delivered loans through Fannie Mae Valuation Acceptance + Property Data, including 218 independent mortgage companies and 115 banks and 72 credit unions. A total of 74 lenders issued loans using inspection based appraisal waivers in February with Valuation Acceptance + Property Data, up 19.4% on February.

Freddie Mac ACE+ PDR (Automated Collateral Evaluation plus Property Data Report) market share for inspection based waivers in March was 25.3% on volume of $235MM, up 4.8%. Freddie Mac participation is at 459 lenders, including 178 banks, 38 credit unions, and 241 non-banks. A total of 105 individual lenders issued loans using inspection based waivers with ACE+ PDR, down 4.5% on the prior month."

"For bank sellers, 69.0% have used appraisal waivers and 25.5% have used inspection based waivers to deliver loans to the GSEs in the past 2 years. In March 38.2% used appraisal waivers and 7.0% used inspection based waivers.

For credit union sellers, 72.6% have used appraisal waivers and 23.7% have used inspection based waivers to deliver loans to the GSEs, again in 2023 and 2024. In March 40.8% used appraisal waivers and 6.4% used inspection based waivers.

For nonbank sellers, 79.5% have used appraisal waivers and 45.9% have used inspection based waivers to deliver loans to the GSEs. In March 66.8% used appraisal waivers and 19.5% used inspection based appraisal waivers."

"Rocket Mortgage and UWM grew 101.5% and 69.6% respectively, consolidating their dominant use of these solutions, and suggesting high levels of automated acceptance of AUS offers during origination."

Inspection based appraisal waivers in March - up 57% on Rocket and UWM growth

Lenders delivered $931M (2.05%) with inspection based appraisal waivers in March, up 42.1% on last month and 36.2% on March 2024

mtgefi.com