Why the New UAD is DOA

[glenn walker]

So what you're saying is, Glenn, that when they finally do announce it, it will be kind of like DW and that other guy throwing me a Surprise Retirement Party?

That's one surprise party I'll be "down with"!!!

No the other appraisers not on this forum or fake book are all getting ready mentally for the 3.6 arriving next year.

There's nobody else saying it's not happening but only a few in the Fannie and Freddie Teams know the exact timing and how it's going to be dripping out in stages but your not going to be surprised when your clients start telling you to get ready.

It may be in February or August but your going to get the heads up from your larger Software Providers first. Their's no conspiracy and no surprises coming everyone planning on doing it are ready and waiting. The others are going to either quit or retire it's that simple.

 

[Bobby Bucks]

Does anyone else remember all the excitement being drummed up about everyone's software being "AI Ready"? As I recall it took about 4 years for all parties to get on the same page. Not all lenders got around to it. I believe it got stuck in the ENV format and didn't progress anymore. BOA seemed to love it. I distinctly recall pi$$ing some eggheads off using a tagline of "Almost AI Ready", I used it for over a year. One thing we can always count on, the sun will rise in the east and the powers that be in this industry will lie like used car salesmen.

 

[Non Sequitur]

The only time anyone gives a rats arse about boots on the ground appraisers is when there's a class to sell or software to sell. They are selling 3.6 classes now and the software providers will roll out at the last minute leaving us with little to no time to test drive or shop price. It will be sink or swim for boots on the ground appraisers.

 

[glenn walker]

The retirement parties are being
planned by the appraisers who don't want to either comply or adapt.

The GSEs don't spend money on fee appraisers anymore than the AMCs give expensive parties for the fee appraisers birthday/ retirement parties.

 

[Fernando]

I never told you this, but about 3 years ago I read one of your posts on the AF about higher fees because appraisals were in such great demand. I raised my fees accordingly, by $100 to $200, for the next 100 or 150 assignments. So thanks, literally.

I'm glad. I hope others also raised their fees because of what I was seeing in the market. Back then we were in demand. I kept pushing the fees up and at one time I got to $1,000.

 

[Dublin ohio]

Nevermind that its pure BS.

Can't wait for the first lender to ask 'hey why are turn times for appraisals two months??? This **** was supposed to help us!?!'

I realize it is pure BS. But that doesn't mean the users won't expect it. But it will take a dose of reality for them to realize it is BS.

 

[glenn walker]

Does anyone else remember all the excitement being drummed up about everyone's software being "AI Ready"? As I recall it took about 4 years for all parties to get on the same page. Not all lenders got around to it. I believe it got stick in the ENV format and didn't progress anymore. BOA seemed to love it. I distinctly recall pi$$ing some eggheads off using a tagline of "Almost AI Ready", I used it for over a year. One thing we can always count on, the sun will rise in the east and the powers that be in this industry will lie like used car salesmen.

I've never found anyone intentionally lying they really believed that those platforms could be adopted but they had two problems which were getting the major players on board and no uniform platform and technology to integrate it. The only thing that saved the traditional way we did business was the lack of uniform technology.

People forget but the Fax machine selling at affordable prices and everyone using them was a big deal in 1988. The PDF and digital signatures was fought by old timers until they were forced to use it. Digital photo's were another big fight when old appraisers insisted on 35 MM film and glue and tape.Virtually every single advance has been met with defiance and grumbling.

 

[Alsie35]

I've never found anyone intentionally lying they really believed that those platforms could be adopted but they had two problems which were getting the major players on board and no Uniform platform and technology to integrate it. The only thing that saved the traditional way we did business was the lack of uniform technology. People forget but the Fax machine at affordable prices and everyone using them was a big deal in 1988. The PDF and digital signatures was fought by old timers until they were forced to use it. Digital photo's were another big radio when old appraisers insisted on 35 MM film and glue and tape and virtually every advance has been met with defiance and grumbling.

And all of us who were relatively late comers to the Game (say post-2000) are grateful that the real old-timers dragged their feet because it preserved our opportunity to make a good living all the way through today. Thanks Old-Timers!!!

 

[gregb]

Digital photo's were another big radio when old appraisers insisted on 35 MM film and glue and tape and virtually every advance has been met with defiance and grumbling.

Yep, I am fighting the relaxation of the requirement to drive the comps. You see the strangest sites and meet the nicest folks when scoping out the comps.

 

[glenn walker]

Yep, I am fighting the relaxation of the requirement to drive the comps. You see the strangest sites and meet the nicest folks when scoping out the comps.

Nothing stops anyone from driving the comparables and it's never bad to exceed the minimum if you really develop a better report. But few to none ever exceed the minimums and that's just the way it goes.