Hybrid Appraisals

[djd09]

fannie forms and guidelines are also about reporting...what a joke

 

[Bobby Bucks]

I had a recent assignment and the seller was a retired bank executive. A nice guy who worked at a REAL bank and his job was making sure they didn’t make bad loans and he knew the appraisal process very well because they had skin in the game. He asked me about the “new” products in lending and was shocked when I explained the hybrid. His reply was priceless. “ With all the idiotic decisions that have previously been made on the national level what can possibly go wrong with this experiment?”

 

[Surf Cat]

The appraiser's assignment is for a desktop SOW.

I don't think so... the desktop only relies on data gathered from sources such as the MLS, public records, maybe a previous report.

The hybrid report is a full 1004 without personal inspection yet, relies on a third-party inspector (the wrong third party inspector I might add) followed by the appraiser analyzing the collected data and completing the report.

Since these AMCs are only paying Pennies on the dollar for a full 1004 without inspection..... it's a full short-cut-O'rama with limited analysis and boilerplate at no extra charge.....

 

[chad hampton]

Words have meanings and you're using them poorly.

The appraiser in a hybrid didn't send anyone out to the property and would usually have no reason to even speak with whomever went out to the property. The appraiser's assignment is for a desktop SOW.

On a real desktop, there is no property inspection for appraisal purposes.

 

[chad hampton]

When these things were first being pushed by the head snake oil pushers, we assumed appraisers would be doing the field appraisal work as we are the ones that are uniquely qualified to perform property inspections to identify property characteristics as they pertain to value.

I swear I read that somewhere before. Probably 3 USPAP books ago.

 

[Joe Flacco]

You would be wealthy if you had bought Bit Coin or Nvidia 3 years ago but your out buying a house at the top of the market and while claiming to know real estate. How a young guys missed the biggest opportunity in a lifetime is kinda sad.

You are sad. Spending your retirement on appraisersforum.com fantasizing abut having been a mortgage banking tycoon while living in a shack. Just pathetic.

You can't even get your story straight. So you bought in 2022 at the bottom, then it goes up 1000% and then you decided to put in $100,000 more at $100 per share earlier this year, 10x above your cost basis. And then you mention a 10 to 1 stock split as if it means you got 10x your investment? LOL fake as ****.

 

[RCA]

I suggested this split in 2007 to 'someone', but only with training and licensing, so that such an inspector would be far better than your average appraiser.

Most appraisers don't take very good photos. They don't. know, they don't think about the implications of how they take pictures. Colors and textures often get washed out in photos that are deemed good enough for an architectural journal. There is no standard for taking appraisal photos; however, a few common sense rules apply, such as avoiding photos that include people.

 

[George Hatch]

That's a reckless statement on your part:

Per Grok:
"The accuracy of home inspections for hybrid appraisals depends on several factors, including the qualifications of the third-party inspector, the quality of data collected, and the appraiser’s ability to verify and analyze the provided information. Hybrid appraisals, which involve a third party (such as a home inspector, real estate agent, or appraisal trainee) conducting the on-site inspection instead of the licensed appraiser, aim to streamline the valuation process by combining fieldwork with remote analysis. However, their accuracy has been a subject of debate within the real estate industry. Below, I provide a thorough examination of the factors influencing accuracy, drawing on available insights and critically assessing the process.

Regardless of what the clanker says, the statement WRT the onsite pics and walk through and inventory stands

The question isn't "what does the paperwork resemble upon completion?"

The real question in this discussion is:

What did the appraiser actually do​

What didn't the appraiser actually do​

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[George Hatch]

I don't think so... the desktop only relies on data gathered from sources such as the MLS, public records, maybe a previous report.

The hybrid report is a full 1004 without personal inspection yet, relies on a third-party inspector (the wrong third party inspector I might add) followed by the appraiser analyzing the collected data and completing the report.

Since these AMCs are only paying Pennies on the dollar for a full 1004 without inspection..... it's a full short-cut-O'rama with limited analysis and boilerplate at no extra charge.....

Think it through. The desktop relies on data gathered from sources such as ... (includes 3rd party reports). The last line shown below has been in USPAP for 25 years now, ever since SR1-2.a was broken down (and elaborated) into what appears now as 1.2.a through 1.2.e




These AREN'T a conventional 1004 w/appraiser inspection. IMO they shouldn't have even be calling it a 1004 variant because of the conflation factor among appraisers.

And yes, for these lenders and the GSEs it's at least partially about the money regardless of what other backwards rationale they may be loading in after the fact. But that doesn't mean the 3rd party inspection is an appraisal service as is defined in our standards. There is no SR for property inspections nor for any aspect of property inspections. There is no such thing as a USPAP compliant property inspection.

 

[glenn walker]

You have done none of these things. Just stop it. Fake as ****.

Order a Muffler or Catalytic Converter free delivery in your area. Lmao )