UAD 3.6 Grok, Claude, ChatGPT and the delay of 3.6

[Non Sequitur]

After listening to the buzzard award software of the year winner complaining that the GSEs didn't give them enough time, I'm starting to lean toward a delay. If lenders aren't ready to integrate this summer that will be the final domino.

 

[Lil Rhody]

Appraiser sound like they might be the only ones ready for it. The GSE’s, AMC’s and software companies need to get their act together, appraisers will either quit or do the new forms when they’re requested. Certainly nobody is saying the holdup is on the appraisers end?

I am starting to think there’s a legitimate possibility that 20 to 30% of the appraisers just walk away. In which case that will be a disaster for lending and the GSE’s.

I attended a webinar from AI about the 3.6 and they said they expect 35% of the appraisers to walk away from the profession instead of conforming to the new form.

 

[Fernando]

I just came off my AMC website and it requested my fees for the new abomination form. It's optional. I ignored it. I hope other appraisers ignore it too.
AMC already trying to find low fee appraisers. F* them.

 

[glenn walker]

Appraiser sound like they might be the only ones ready for it. The GSE’s, AMC’s and software companies need to get their act together, appraisers will either quit or do the new forms when they’re requested. Certainly nobody is saying the holdup is on the appraisers end?

I am starting to think there’s a legitimate possibility that 20 to 30% of the appraisers just walk away. In which case that will be a disaster for lending and the GSE’s.

Not a disaster that's parr of the plan to cull the old herd out of their way.

 

[Fernando]

Appraiser sound like they might be the only ones ready for it. The GSE’s, AMC’s and software companies need to get their act together, appraisers will either quit or do the new forms when they’re requested. Certainly nobody is saying the holdup is on the appraisers end?

I am starting to think there’s a legitimate possibility that 20 to 30% of the appraisers just walk away. In which case that will be a disaster for lending and the GSE’s.

I'm not walking away. I'm just asking to pay me premium fee to do the Abomination form.
Even now many AMCs/Lenders not willing to pay my appraisal fees.

 

[Alsie35]

I attended a webinar from AI about the 3.6 and they said they expect 35% of the appraisers to walk away from the profession instead of conforming to the new form.

35%? Now they're getting WARMER ... I tell you its gonna %@&!* their system up real, real bad when 50-60% of us walk away overnight ... and then Bill Pulte will come to "have a talk" with them ...

 

[glenn walker]

35%? Now they're getting WARMER ... I tell you its gonna %@&!* their system up real, real bad when 50-60% of us walk away overnight ... and then Bill Pulte will come to "have a talk" with them ...

The guidelines already have the ability to increase ths deminimus to any value or price need so lenders can use the alternative sources if there's a shortage or full appraisal aren't needed.

The boy's set this up 13 years ago and are fully aware that traditional appraisals are going away like the dodo bird.

The 3.6 will eventually be less than 20% of all purchase and refinance loans with the rural and high end filling that market. Therefore the rural and complex appraisers will be doing all the heavy lifting. The ones remaining will be leaning into higher volume desktops and products that require little to no driving where 2 to 4 a day can be produced.

 

[chad hampton]

I'm all for those 1 page desktops. Not a bad product when a home was listed in the last 12 months and now they are refinancing.

What they are calling desktops today aren't desktops.

 

[Non Sequitur]

I attended a webinar from AI about the 3.6 and they said they expect 35% of the appraisers to walk away from the profession instead of conforming to the new form.

I agree a lot of appraisers will walk away but not from the profession, they will walk away from AMC and GSE work.

 

[glenn walker]

I'm all for those 1 page desktops. Not a bad product when a home was listed in the last 12 months and now they are refinancing.

What they are calling desktops today aren't desktops.

There will be true desktops coming and used where you dont leave the office and no physical inspection done. The virtual where owner or realtor sends a video of interior and exterior directly to you or lender who forwards it to appraisers. The same with floor plans done by HO or the owners.