UAD 3.6 discussion

[timd354]

More importantly, are you a Saints fan?

Not an "Aint's" fan....go Ravens!

 

[Sadie]

Why difference does that make? In the end, there are numerous entities that are working on new technologies and AI that are going to put a lot of appraisers and people in other professions and lines of work out of business.

IMO its because the emphasis is not appraising, its the technology. The founders of the company are not appraisers, have no experience in the appraisal profession.

The founders: Aloft is led by CEO Travis Soukup, a former Facebook manager who spent time at moving and storage company Clutter, and more recently at real estate startup Modus (acquired by Compass). Soukup co-founded the 45-person company with Yongxing Deng, a former engineering manager at Slack.

 

[meatsandbounds]

If everybody simply refused to offer 3.6 and only use the legacy forms it would put a major stink bomb in the punch bowl that may get the attention of Trump

It is an attack on small business and the traditional real estate business. You can bet LOs are next and it's already gone after realtors as an opening salvo. Trump doesn't like collectivist entities either does Pulte. I'm sure this whole issue isn't on their radar. The effected are Trump voters for the most part.

Appreciate you and others like you for making the choice to bow out if you feel such a way. Thank you as well for not educating yourself on 3.6 and making myself and others more money by not competing with us.

You feel like it’s an attack on “your” small business because you aren’t willing to be adaptable. And what a fanciful view that your god king cares about or has the mental capacity to lobby on your behalf, or that his cronies aren’t already inundated with bigger issues than what’s happening to appraisers.

How does it feel to constantly be a victim and that it’s always an outside entity’s fault for your misfortune?

 

[timd354]

IMO its because the emphasis is not appraising, its the technology. The founders of the company are not appraisers, have no experience in the appraisal profession.

The founders: Aloft is led by CEO Travis Soukup, a former Facebook manager who spent time at moving and storage company Clutter, and more recently at real estate startup Modus (acquired by Compass). Soukup co-founded the 45-person company with Yongxing Deng, a former engineering manager at Slack.

Again, how does that make any difference whatsoever to the fact that they are going to compete with you and possibly put you and other appraisers out of business?

You may think it sucks, but that does not change the reality of the situation. In any case, they undoubtedly employ appraisers and I can tell you for a fact that no one who actually matters in the lendeing world (which is the source of >90% of residential appraisers' business) cares one bit whether a company they do business with was founded by or is run by appraisers. In fact, starting and managing a company that does business on a nationwide scale requires a very different skillset than most appraisers have in any case.

 

[Surf Cat]

if the borg is taking over why 3.6...

To build and create the ultimate borg....

 

[Sadie]

Again, how does that make any difference whatsoever to the fact that they are going to compete with you and possibly put you and other appraisers out of business?

You may think it sucks, but that does not change the reality of the situation. In any case, they undoubtedly employ appraisers and I can tell you for a fact that no one who actually matters in the lendeing world (which is the source of >90% of residential appraisers' business) cares one bit whether a company they do business with was founded by or is run by appraisers. In fact, starting and managing a company that does business on a nationwide scale requires a very different skillset than most appraisers have in any case.

It doesn't change the reality, because it is already there. It simply points to a company that is not interested in the quality of appraisals being performed, just how much money can be sucked out of them. And they are making money and at the expense of reputable and ethical appraiser (s). Not all that different from many other AMC type models.

 

[glenn walker]

It doesn't change the reality, because it is already there. It simply points to a company that is not interested in the quality of appraisals being performed, just how much money can be sucked out of them. And they are making money and at the expense of reputable and ethical appraiser (s). Not all that different from many other AMC type models.

So your suggesting they make their money off one's with bad reputations and unethical behavior ?

 

[Non Sequitur]

If everybody simply refused to offer 3.6 and only use the legacy forms it would put a major stink bomb in the punch bowl that may get the attention of Trump

That's a lead balloon. Several national firms are staffing up in anticipation of indie appraisers getting left behind because they either won't adapt or demand higher fees for 3.6. Here's the truth: Deals are being made right now by the AMC-Staff hybrid firms promising no push back on 3.6 adoption, fees, or turn times. Class, RSDS, Accurity, True Footage, Velox, etc. are hustling every order they can take away from indie appraisers.

 

[Non Sequitur]

Not an "Aint's" fan....go Ravens!

That stings, but our food is better.

 

[Essexfenwick]

That's a lead balloon. Several national firms are staffing up in anticipation of indie appraisers getting left behind because they either won't adapt or demand higher fees for 3.6. Here's the truth: Deals are being made right now by the AMC-Staff hybrid firms promising no push back on 3.6 adoption, fees, or turn times. Class, RSDS, Accurity, True Footage, Velox, etc. are hustling every order they can take away from indie appraisers.

You can't staff enough for a refi boom. When that happens they will taste it and be hated by the lending industry. Then by the time they hire up.. the boom is over.

It will all be inspections only for a small fee and AI will do the valuation. This is all just the uncomfortable transition which will be rapid.