I am not doing the 3.6 FORM deal

[Sandra Koutsopoulos]

I was thinking about some comments here re: the depth of the inspection the new form apparently requests WE do, and then I realized that all this data-mining, which I guess also includes photos inside/outside of ppl's private living space, is a huge invasion of their privacy. In applying for a loan, they did not give permission for their daughter's bedroom or the appliances in their kitchen, or the inside of their garage to be "clickable" by anyone not involved in the making of that particular loan. If I'm understanding correctly, all that could become public to virtually anybody. Where is privacy anymore? Could a child molester buy access to a bunch of recent bedroom photos to find their next victim, for example? or a burglar looking to see what might be worth the effort to steal? (I find many interior photos of high-end properties have been removed from MLS after the sale closes, apparently for security reasons).

I have had ppl question whether the info I'm collecting including photos will somehow become public knowledge, and I've told them only the lender where they've applied for the loan will see it. Was I wrong? Particularly with the concept of "monetizing" the info we collect, that indicates private stuff will become public stuff, and I doubt anyone who actually thinks about that would want it to happen to THEM.

 

[cashcatz]

A lot of people are sick of programs that do everything except wipe your butt, charge accordingly, and you do not want nor use 90% of these great "features". Do you think that Total is not data-mining every single word you write? Your entire history is on the cloud as it is. Your phone tracks you 24 7. Apple will track you even if the phone is off. And every time I open Windows 11, it wants to link to my phone. Support for 10 was supposed to end, but guess what? I got a notice a day or two ago for another "update" from them.

So throw away your computer. Nobody is stopping you from pulling out your typewriter, divining rod, Polaroid and Elmer's glue like the good ole' days...

 

[Airstream]

AI Overview


The training to become a property data collector for PDRs (Property Data Reports) typically involves a
short, focused course that can be completed in a few hours or days, followed by an exam. For example, one provider offers a 5-hour, self-paced online course and exam.
The specific training requirements are set by the companies that employ or contract property data collectors, and must align with guidelines from government-sponsored enterprises (GSEs) like Freddie Mac and Fannie Mae.

My comment - the PR spin is that the PDR collectors are "rigorously trained." Which dovetails with letting the mortgage lender decide the property value !! ( in value acceptance, after eligibility)
A non-appraiser quick trains anybody, and a mortgage lender with zero valuation training for it and a vested profit interest estimates the property value -could go wrong? (rhetorical question ) Given the vast recent expansion of ACE/PDR /value acceptance leniency for the borrower and loan LTV%. It would take several years or longer to reach a tipping point where results might show enough non-performing loans or skewed sale prices impacting RE markets. Well, shrug, if that happens, the burden is on the taxpayers. The mortgage lender get relief from reps and warranties ( no buy-back for collateral valuation issues.) VS, when they use an appraisal, the lender has to buy back a mortgage due to collateral value issues.

Net result for appraisals: less volume, with the work consisting of problem /oddball properties, riskier borrowers, and increased scrutiny, with low fees on the AMC side and even C and R fees barely keeping up with the cost of living if ordered directly. Nobody of sound mind, which normally means one expects a decent income and outlook for a profession, would train for a res license given the current conditions. The anemic numbers graduating from PAREA show that the next generation realizes it.

The accumulated damages is what is leading to the sour outlook wrt the added burden of UAD 3.6.

I just read on Marketwatch that nearly 900,000 homeowners are underwater on their mortgages, signaling a troubling shift in the housing market. That is 1.6% of all mortgage holders. And 90% of these borrowers, bought in the past 3.5 years. That may be small, but it is the highest rate in 3 years. Affordability is a major issue. And people are just saying, "NO." September of 2025 the number of listings removed from the market was 52% higher than September 2024. About 30% of U.S. markets saw a decline in values. It's not a panic situation by any means. But we all know the market has to correct. I wonder how these PDR hybrid BS appraisals will operate in a market that is declining????

 

[Terrel L. Shields]

So throw away your computer. Nobody is stopping you from pulling out your typewriter,

You couldn't do what I do with a simple Word Processor. Sorry. You are just a shill for Total....and could use a grammar program... I mean it is So, throw away... not So throw away...

 

[Overimprovement]

I was thinking about some comments here re: the depth of the inspection the new form apparently requests WE do, and then I realized that all this data-mining, which I guess also includes photos inside/outside of ppl's private living space, is a huge invasion of their privacy. In applying for a loan, they did not give permission for their daughter's bedroom or the appliances in their kitchen, or the inside of their garage to be "clickable" by anyone not involved in the making of that particular loan. If I'm understanding correctly, all that could become public to virtually anybody. Where is privacy anymore? Could a child molester buy access to a bunch of recent bedroom photos to find their next victim, for example? or a burglar looking to see what might be worth the effort to steal? (I find many interior photos of high-end properties have been removed from MLS after the sale closes, apparently for security reasons).

I have had ppl question whether the info I'm collecting including photos will somehow become public knowledge, and I've told them only the lender where they've applied for the loan will see it. Was I wrong? Particularly with the concept of "monetizing" the info we collect, that indicates private stuff will become public stuff, and I doubt anyone who actually thinks about that would want it to happen to THEM.

Isn't all this already out there with Zillow? Totally public already. Many listings have sketches now too.

 

[TerryRohrer]

I just read on Marketwatch that nearly 900,000 homeowners are underwater on their mortgages, signaling a troubling shift in the housing market. That is 1.6% of all mortgage holders. And 90% of these borrowers, bought in the past 3.5 years. That may be small, but it is the highest rate in 3 years. Affordability is a major issue. And people are just saying, "NO." September of 2025 the number of listings removed from the market was 52% higher than September 2024. About 30% of U.S. markets saw a decline in values. It's not a panic situation by any means. But we all know the market has to correct. I wonder how these PDR hybrid BS appraisals will operate in a market that is declining????

I get a list of upcoming foreclosure sales (scheduled within the next month) from one title company. Usually, there are many where the original mortgage was secured years ago. Those, I always wonder why they don't fire sale it and recover at least some of the often significant equity. In the report I received yesterday, 8 of the 10 mortgages were originated since early 2021. Several were barely a year old. Small sample, but this is one of a number of title companies here, and comes after several years with only an occasional report with maybe one or two sales scheduled.

 

[Alsie35]

So throw away your computer. Nobody is stopping you from pulling out your typewriter, divining rod, Polaroid and Elmer's glue like the good ole' days...

As I told you on another thread "Cash" - those of us of a certain age have EARNED the right to "yell at clouds" - as well as to point out the idiocy of allowing youngsters who have a limited - at best - understanding of life and the world - to re-engineer all of society.

Our life experience is worth more than ALL of your "newfangled software mumbo-jumbo". [You - who have a more than passing understanding of world cultures other than our own - should know that much better than most.]

THAT is why - since the beginning of civilization - it is the Elders who have always been the repositories of wisdom, knowledge and culture that the younger generations turned to for advice. If you want to see how that works, may I suggest going to a nation like Japan, which still has a sane and cohesive society, for example. They - and China - will still be here with strong cultures long after the West has descended into a new politically correct Dark Ages.

And - WE are the ones who built - and are handing off to you - the most prosperous lifestyle and society in the history of the world.

For that ALONE we deserve some R-E-S-P-E-C-T.

I'm OUT.

 

[Fernando]

A lot of people are sick of programs that do everything except wipe your butt, charge accordingly, and you do not want nor use 90% of these great "features". Do you think that Total is not data-mining every single word you write? Your entire history is on the cloud as it is. Your phone tracks you 24 7. Apple will track you even if the phone is off. And every time I open Windows 11, it wants to link to my phone. Support for 10 was supposed to end, but guess what? I got a notice a day or two ago for another "update" from them.

I thought Windows 10 wasn't going to be supported and finally forced me to buy a new faster computer.
The transition was frustrating and difficult (still have problems with double saved appraisal files).
But the faster computer is nice. I can post twice as fast.

 

[J Grant]

Does anyone know if the market conditions form ( MC Form) will be used for SFR in UAD 3.6 SFR version?

I have not experimented with it inALAMODE<- planning to with some time off around Thanksgiving

 

[Fernando]

Does anyone know if the market conditions form ( MC Form) will be used for SFR in UAD 3.6 SFR version?

I have not experimented with it inALAMODE<- planning to with some time off around Thanksgiving

It's up to the client/lender. All of my clients still require it. Ugh.