I am not doing the 3.6 FORM deal

[RCA]

We are going to do the same, only it won't be loan brokers. It will be AI. McKissock among others is developing training classes for AI. Good for them. They will contribute to their own demise when all appraisers are basically ended by AI.

Honestly, it really sucks to be an appraiser now. And even after certification when you could still deal with the other professionals in real estate without everyone claiming you were a slave to the brokers and bankers.

Too true.

Oh, you are so negative.

You need to start using AI more yourself. To understand how to work with it.

Take me. I use online Grok, Claude and ChatGPT. I also have Ollama downloaded on my Mac Studio M2 Ultra, the deepseek 70b 3.1 model - and other models. I have all of it building and managing my new software system: A hybrid Prolog-R-Python program with C++, C# and C substrates for speed, using VS Code at the hub and RStudio, PyCharm, Rider and Lion IDEs for specialized tasks. It is an ultra complex environment that I couldn't begin to maintain for my little old self all by myself. It will likely grow much larger over time.

You see, without AI, the tedium of managing such an extensive system would drive any person, genius or not, to boredom. Oh it takes struggling for days to figure out how to get around the bugs, inadequacies and continual updating and conflicts of software management.

The world becomes the domain of experts - those with the organizational genius to manage high levels of complexity.

There will still be appraisers; only they will be organizational geniuses with vast knowledge.

So I predict.

"Organizational Genius" is the key phrase.

 

[Zoe]

Employee vs independent contractor and unfair trade practices are controlled by two different Federal departments.

IRS is one and Federal Trade Commission and/or CFPB is the other.

I won't swear CFPB is not over them all relative to consumers.

However, you get my points.

 

[Fernando]

In our old fee shop we had a formula that was highly accurate, when a mortgage broker sent an order with an estimate of value, we were almost always 75% of their estimate. Their “AVM” was reliable and a time saver for us.

I wished I had your highly accurate "formula" back then. Could have saved me a lot time.

 

[Justinjla]

Partially answered. When you say , "we own that risk", what does it mean if you are not offering a repurchase of a loan for collateral value issues? I understand that the lender no longer has a repurchase obligation with a waiver/value acceptance.

Let me rephrase the question for a yes or no answer: Does Fannie buy back a loan that relied on a WAIVER/value acceptance if there are collateral value issues? ( yes or no )

Thanks.

Fannie Mae does not buy back loans.

 

[Alsie35]

Hell, I'll just add #70 to the "Block List". Life's easier that way!

 

[J Grant]

Fannie Mae does not buy back loans.

Thanks!

 

[djd09]

So I predict.

yeah AI predicted hillary over trump...

Fannie Mae does not buy back loans.

the taxpayers do...

 

[Justinjla]

the taxpayers do...

For loans with appraisals too, or just loans with Value Acceptance?

 

[Zoe]

I digress for your torture. Are you employee or independent contractor?

I can expand. I have been known to expand.

 

[cashcatz]

Oh, you are so negative.

You need to start using AI more yourself. To understand how to work with it.

Take me. I use online Grok, Claude and ChatGPT. I also have Ollama downloaded on my Mac Studio M2 Ultra, the deepseek 70b 3.1 model - and other models. I have all of it building and managing my new software system: A hybrid Prolog-R-Python program with C++, C# and C substrates for speed, using VS Code at the hub and RStudio, PyCharm, Rider and Lion IDEs for specialized tasks. It is an ultra complex environment that I couldn't begin to maintain for my little old self all by myself. It will likely grow much larger over time.

You see, without AI, the tedium of managing such an extensive system would drive any person, genius or not, to boredom. Oh it takes struggling for days to figure out how to get around the bugs, inadequacies and continual updating and conflicts of software management.

The world becomes the domain of experts - those with the organizational genius to manage high levels of complexity.

There will still be appraisers; only they will be organizational geniuses with vast knowledge.

So I predict.

"Organizational Genius" is the key phrase.

Exactly. Instead of getting angry at the new tech and yelling at the cloud, it's better to figure out if which parts are hype vs useful. For example, I tried to give the blockchain and tokenization stuff a chance but never found a real use case outside of crypto currency (which is useful for transfers, but not investment). With AI, you have to figure out how it's useful (so far: image classification, data extraction, summarization and general writing and brainstorming).