Subject: Don't just vent about UAD 3.6

[Surf Cat]

The real scam in all of this is that people became conditioned to believe all you do in the field is collect data. I never once felt I was collecting data until they invented that term about 8-10 year ago. I thought I was doing an appraisal inspection, and it was considered significant and needed to be done by a licensed appraiser, or under the supervision of one - as indicated in USPAP.

There's a reason they don't call in what it really is, and what every other person in RE calls it - an appraisal inspection. These are some real deceitful POS we have at the top of this profession.

Certification from the new UAD 3.6. The powers that be will have to eliminate this one though. As it seems inspecting the subject, delineating the neighborhood and viewing the comps curbside is now considered taboo.

10. I personally performed an onsite inspection of the interior and exterior areas of the subject property. I reported the readily observable
condition of the improvements in factual, specific terms. I identified and reported any known physical deficiencies that could affect the soundness or structural integrity of the property.

 

[George Hatch]

Not required for this assignment /= prohibited

 

[J Grant]

Nobody can compel these users to patronize appraisers instead of any other alternative. Our only protection in the market is to offer something different than our competitors are offering.

If you think the number on the bottom line is the only thing you sell then you're going to have a tough time differentiating that from what the alternatives are also offering.

Who are our competitors ? Lender/users use APPRAISERS through an AMC tehj same way they use appraisers when no AMC is involved when an appraisal is ordered.
The difference is an AMC offers free of hard cost to lender borne on the back of the appraiser. It amounts to corporate welfare. Where is the outrage lol .

Clearly, we offer something different than an AVM or waiver. The buyers for valuations for GSE loans are incentivized to use a waiver because of gurantee of a sale price or the refi target LTV of the loan amount is there, ( after GSE greenlight )

How can appraisers compete with a waiver/value acceptance when that product ensures the value target is hit to make the deal work? Appraisers can not compete with it. Between that, and the AMC fee prdation, the res license end on the lender side is circling the drain.

 

[DWiley]

If you buy it you should possibly consider reading it for content instead of defaulting to the old appraisal myths which are not addressed in USPAP. If you actually knew what you were talking about you wouldn't take some of this stuff so personally.

Oh he reads it...but just certain parts. He apparently never read this part of the book...

 

[chad hampton]

I take it personally? It’s you 2 that jump on as soon as I post the truth about what you guys got changed to push your agenda.

It’s not me that spins and performs mental gymnastics to get your agenda across. Lobbying money well spent. On that point I give you credit for.

I’ve never been the one looking for loopholes. My morals and ethics don’t allow that.

Of course, my morals and ethics do come from a book. It’s certainly not USPAP though.

 

[George Hatch]

Who are our competitors ? Lender/users use APPRAISERS through an AMC tehj same way they use appraisers when no AMC is involved when an appraisal is ordered.
The difference is an AMC offers free of hard cost to lender borne on the back of the appraiser. It amounts to corporate welfare. Where is the outrage lol .

Clearly, we offer something different than an AVM or waiver. The buyers for valuations for GSE loans are incentivized to use a waiver because of gurantee of a sale price or the refi target LTV of the loan amount is there, ( after GSE greenlight )

How can appraisers compete with a waiver/value acceptance when that product ensures the value target is hit to make the deal work? Appraisers can not compete with it. Between that, and the AMC fee prdation, the res license end on the lender side is circling the drain.

That "something different" is measured in the market by the buyers. In that context it doesn't much matter what the sellers think.

What else do you suppose it means when certain users are increasingly deciding that "good enough" isn't always limited to the conventional 1004s (or the 120pg narratives) that the appraisers prefer to sell?

 

[George Hatch]

I take it personally? It’s you 2 that jump on as soon as I post the truth about what you guys got changed to push your agenda.

It’s not me that spins and performs mental gymnastics to get your agenda across. Lobbying money well spent. On that point I give you credit for.

I’ve never been the one looking for loopholes. My morals and ethics don’t allow that.

Of course, my morals and ethics do come from a book. It’s certainly not USPAP though.

The difference is that we actually know what we're talking about. And you apparently don't. It doesn't seem to have occurred to you that none of the others who have previously or currently hold the Instructor's Cert are in disagreement. An inquisitive mind would consider the reasons for why that might be.

There's a test. Passing that test is a requirement to hold the Cert
That test has correct answers with the others being incorrect
Several of those questions relate to what the content actually says. For each of those questions there is only one correct answer.
The course participants cannot pass that test without answering enough of those questions correctly

And let's drop the strawman you keep trying to invoke. It's perfectly okay for you or I or anyone else to assert and act upon a more restrictive manner of engagement than is required under the established minimums. What's immoral and dishonest is to extrapolate these additional and personal benchmarks as being equally applicable and enforceable upon everyone else when that is counterfactual to what the USPAP reference itself has established.

Go be excellent and prosper. Nobody is trying to stop you from acting per the dictates of your own conscience.

 

[J Grant]

That "something different" is measured in the market by the buyers. In that context it doesn't much matter what the sellers think.

What else do you suppose it means when certain users are increasingly deciding that "good enough" isn't always limited to the conventional 1004s (or the 120pg narratives) that the appraisers prefer to sell?

It is not that the 1004 is not "good enough", it is that it is not "profitable enough"

Which was the point I tried to make in my post.

The segment of buyers for res lending appraisals will , unless they truly have ethics wrt the public tgrust, they will use a product makes their deal works, as simple as that. Fannie admits that with a waiver/value accpettancethat the property value estimated by a borrower or lender (or the sale price) might not be the real value/worth of the property. But it makes a deal work. Sold.

Fannie is saying that their product is not "good enough" on the valuation side, Which refutes the idea that appraisers are losing because their product is not "better"

 

[George Hatch]

They users are forming their own opinions about what is "good enough" for their usage. Based on whatever criteria - including profitability - they deem relevant to their decision making. They're responsible for the decisions they make and are subject to whatever means their regulators and other critics can exercise to penalize them for any bad decisions.

If that recap appears pedantic it's because it's a waste of time and energy to complain what they should do when the only thing that matters to them is what they're allowed to do.

 

[chad hampton]

You’ll have to excuse me if I don’t really give a **** what a former revaa lobbyists thinks.

If my fingerprints were all over the changes that are responsible for tuning this profession into what it’s become, Id just collect my check and go into hiding. Like others have.

And by the way, ****ing with people’s careers, livelihoods and abilities to feed their family is very personal. Not all of up take glee in destroying those things.