How many actually believe 3.6 will be fully implemented this year?

[NC Appraising]

The Realtors who pay attention are freaking out about UAD 3.6

Aging appraisers...holding up the market?

Ssshhhh...don't tell her but I just toured fabbie nacs home office. They showed me the actual spigot where they turn on and off the waiver valve. Allegedly, Rocket Mortgage and UWM were the tour guides.

 

[Carnivore]

Well if some banks chose to not securitize their loans with F/F then that has some big consequences.

 

[Zoe]

If it slows down the appraisal process, it could get major backfire from major banks. Many small banks keep loans in house and don't sell to gses.

In other words, if a bank is keeping the loan, the regulators are not going to force them to use 3.6.

The regulators won't care if it is 3.6 or not.

 

[Carnivore]

Data is king In the age of AI it sure is going to get rough for res appraisers. I might be inclined to say even the CG population may be threatened also.

So you CG's tell us why AI cant replace you? or maybe why it will help you save time and allow you to be more efficient thus able to accept more assignments. I do know that some CG's do a mix of res props and commercial for economic reasons. So if your res assignments Ggo to zero . How will you make up for that loss of res work?

I realize I am mixing topics . But it all is tied together

 

[Zoe]

Data is king In the age of AI it sure is going to get rough for res appraisers. I might be inclined to say even the CG population may be threatened also.

So you CG's tell us why AI cant replace you? or maybe why it will help you save time and allow you to be more efficient thus able to accept more assignments. I do know that some CG's do a mix of res props and commercial for economic reasons. So if your res assignments Ggo to zero . How will you make up for that loss of res work?

I realize I am mixing topics . But it all is tied together

I agree with you on CG depending on how much data in a local market AI can collect. Commercial thrives on income cap approach and sales comparison approach and AI needs the data in a local market.

Single family residential is much more heterogeneous market overall in many markets.

Commercial is more homogeneous market overall.

 

[Carnivore]

I think you missed an important point. Zoe do you do a mix of res & CG work? If so how will you make up for the loss of res work due to AI?

 

[Zoe]

I think you missed an important point. Zoe do you do a mix of res & CG work? If so how will you make up for the loss of res work due to AI?

I could switch in heartbeat. It is very difficult to do both commercial and single family at same time without help.

It is the logistics. VA keeps me loaded on single family residential in very difficult single family market.

 

[Zoe]

My turn times on commercial would be 2-4 weeks typically. The turn times vs single family residential don't rhyme.

If you had 2 trainees, you could do both single family and commercial

 

[Zoe]

Based on my history. Most appraisers either focus on commercial or residential. You can do both with help.

I am one man shop. I run the system.

There is military base in Millington TN. VA does a ton of loans in Memphis metropolitan area.

 

[Zoe]

VA will convert I think to 3.6. I don't know when.

I'll cross that bridge when I get there or not.