New URAR Demo

[Tom D]

Rise up oppressed appraisers. To the fannie castle of check boxes, and burn this frankenform to the ground.

New uad3.6 frankenform. DWiley, me thinks you stand at the gates of frankenform defending the monster.

Just my unbiased feeling after a few pages of slo mo checking a box and save to answer the next question.

 

[djd09]

if one form provider is superior to all the rest...then appraisers will flock to them

 

[DWiley]

Rise up oppressed appraisers. To the fannie castle of check boxes, and burn this frankenform to the ground.

New uad3.6 frankenform. DWiley, me thinks you stand at the gates of frankenform defending the monster.

Just my unbiased feeling after a few pages of slo mo checking a box and save to answer the next question.

Not my goal to defend anything. Just stating something that is very obvious to anyone who has tried multiple versions of UAD 3.6 software. They do not all work the same.

The largest providers took different approaches with the original UAD; why would that be different for the new UAD?
Lots of demos and test software out there for folks to check out, if they wish.

 

[J Grant]

Rise up oppressed appraisers. To the fannie castle of check boxes, and burn this frankenform to the ground.

New uad3.6 frankenform. DWiley, me thinks you stand at the gates of frankenform defending the monster.

Just my unbiased feeling after a few pages of slo mo checking a box and save to answer the next question.

I don't know if we can stop it, but we can charge more for our reports. Regardless of which software we choose, or what templates we make, the dynamic format and UAD 3.6 asking for reams of added data and inspection items will add considerable time to each appraisal

We are being squeezed out anyway. What is there to lose by charging more, since even full-fee work is falling behind the cost of living? Outside of the occasional busy cycle, there is no volume to make it up with any longer. The GSEs stripped the volume by a good amount with WAIVERS alone.

 

[Airstream]

if one form provider is superior to all the rest...then appraisers will flock to them

I think you are correct. First of all I think the software companies are going to be in trouble if 40% of appraisers decide to leave the business.

Second, I know of one appraiser friend who is using a particular software, and he is deeply concerned about renewing the license because of the UAD3.6. What’s he going to get? What will it look like? This is a big change. I told him that if there was a time to change providers now would be the time ESPECIALLY if your software doesn’t allow for mobile data collection in the field. The one instructor that I’ve heard of said it will be basically impossible without a mobile data collector due to all the drop down fields and where the pictures, etc go. So I suspect there will be many appraisers doing evaluations of their software, and if they aren’t happy will test others out despite being long time users. Again, time to change when there is a big change.

Third, I can’t imagine software bugs will not be a huge problem and issue. This form is complicated to use. I have to believe it is complicated to write software for. I am not a software expert, but it just seems reasonable to assume that. This is different than the last form change. This is an ENTIRELY new form. I firmly believe software costs will go up. I don’t think they will initially as providers try to keep customers. But I could see software costs going up 50% just because of all the time AND less appraisers in the business. They don’t write these programs to lose money.

 

[Airstream]

I don't know if we can stop it, but we can charge more for our reports. If there is pushback, well, we are being squeezed out anyway. What is there to lose by charging more since even full-fee work is falling behind the cost of living? Outside of the occasional busy cycle, there is no volume to make it up with. The GSEs stripped the volume by a good amount with WAIVERS alone.

I just got a request to do an appraisal in a very small remote area 80 miles from me. It’s a 1.5 hour drive one way. I told the lender, “I have to charge for drive time and difficulty. So the fee is $900.” I didn’t hear anything back. Then I get a request for a quote from an AMC. Same property. Same quote. I kind of wonder what are they willing to pay? Now if this property was say 20 minutes away and in an easier location, then a fee of 550 would be fine. But if these lenders aren’t willing to pay for what is clearly a significant distance and no doubt an increase in difficulty, I doubt they will pay more for the use of a different form.

Having said that USBANK did pay me well to do a complex property 4 hours from me. Probably because they couldn’t get anyone else to tackle it. So some will pay more, but I would say that will be the exception rather than the rule. I hope I’m wrong.

 

[Surf Cat]

What is there to lose by charging more since even full-fee work is falling behind the cost of living?

Falling behind? We fell behind long ago.

 

[J Grant]

I just got a request to do an appraisal in a very small remote area 80 miles from me. It’s a 1.5 hour drive one way. I told the lender, “I have to charge for drive time and difficulty. So the fee is $900.” I didn’t hear anything back. Then I get a request for a quote from an AMC. Same property. Same quote. I kind of wonder what are they willing to pay? Now if this property was say 20 minutes away and in an easier location, then a fee of 550 would be fine. But if these lenders aren’t willing to pay for what is clearly a significant distance and no doubt an increase in difficulty, I doubt they will pay more for the use of a different form.

Having said that USBANK did pay me well to do a complex property 4 hours from me. Probably because they couldn’t get anyone else to tackle it. So some will pay more, but I would say that will be the exception rather than the rule. I hope I’m wrong.

If nearly all appraisers raised their fees, they would have to pay—what the amount is, I don't know—probably a more modest amount than we would like, but any increase is better than nothing. Complex work is quoted per order. I was referring to regular work ( what is left of it )

It seems to escape the GSE reps that appraisers are about squeezed dry, and adding more time and complexity to the format is one more squeeze. And I am one of the luckier ones who is mostly AMC-free. However, I still feel vulnerable because lenders are being incentivized to use AMCs, so I never know how long it will last.

 

[Tom D]

We are the drivers and fannie is giving us a lemon to drive. It will cost us more, and i believe there is a ceiling for appraisal fees. But, like said, nobody doing, i can charge more.
The question will be, will i shoot myself to stop the pain from doing a frankenform.

 

[Airstream]

Not my goal to defend anything. Just stating something that is very obvious to anyone who has tried multiple versions of UAD 3.6 software. They do not all work the same.

The largest providers took different approaches with the original UAD; why would that be different for the new UAD?
Lots of demos and test software out there for folks to check out, if they wish.

The problem is getting your hands on the software, and not really knowing what it will be like. Once you are invested in a software format it is hard to switch. I have done that. Granted that was 20 years ago. But I remember now all my old files and data don’t easily mesh. And then each provider has a different way to set things up. Now you have to learn each program. That takes time. I do agree with you that appraisers are going to have to try multiple versions. But it is going to cost money to do so. At least in the short term.