Intimidation....I Will Not Be Silenced

[Artemis Fowl]

This PDR controversy has been going on for a while. But (from an appraisal centric context) it can be distilled into just a few basic questions:

Is credibility primarily measured first and foremost by the user or not?
Is meaningful and not misleading primarily measured by the user or not?
Do the users retain the discretion to change their expectations from one assignment vs another or not?
Are all inspection-related expectations established by the user or not?
Do the GSEs (or any other user) have the authority and discretion to develop, add to, delete from or otherwise promulgate their own appraisal policies or not?
If a user does set forth expectations that are less-than the minimums required in USPAP, do appraisers have the means to supplement in order to meet all the minimums? Or not?

None of these questions require any heroic or creative reasoning to answer correctly.

...taking all the fun outta victimhood.

 

[George Hatch]

...taking all the fun outta victimhood.

I understand the reasoning. Appraisers are getting squeezed between increasingly difficult business environment, the declining demand for appraiser-hours, the fees and the moving target of GSE policies.

The constant and unrelenting struggle to get by isn't just business as usual for probably most appraisers. It's personal. That much is obvious.

 

[NC Appraising]

I understand the reasoning. Appraisers are getting squeezed between increasingly difficult business environment, the declining demand for appraiser-hours, the fees and the moving target of GSE policies.

The constant and unrelenting struggle to get by isn't just business as usual for probably most appraisers. It's personal. That much is obvious.

And....if hybrids become the dominant form, it will be the end of the IFA. National firms will dominate and control the market.

Thanks to the appraisal foundation. If you gotta pulse...you can help to make a few large corporations rich.

 

[Artemis Fowl]

I understand the reasoning. Appraisers are getting squeezed between increasingly difficult business environment, the declining demand for appraiser-hours, the fees and the moving target of GSE policies.

The constant and unrelenting struggle to get by isn't just business as usual for probably most appraisers. It's personal. That much is obvious.

I don't intend to belittle the situation. I've been there...stuck in the Landsafe doom-loop. I blamed everything and everyone I could for some time...it was a victimhood position. Nothing changed for me until I changed me. Boycotts and other cat-herding activities, as well as wailing about "the man" being oppressive are not activities that will actually help improve someone's day-to-day.

I stay out of the political relation side of my business...my bosses make sure of it lol. I do the technicals and leave those more inclined to handle politicking. Mentor said to me "Just because you won't play the game doesn't mean it isn't there and can't run you over if you get in its way." The whole point being...there are certain realities that exist in this business whether we like them or not. It's a lot easier to change your own positioning to somewhere you can thrive rather than standing in the path of and yelling at a charging behemoth to turn. I think back to the thousands of appraiser's who stood up and signed the petition, warning the financial world of its approaching doom. It was beautiful and meaningful and right to do so...and it did pretty much nothing except give us the opportunity to say I told you so.

 

[alebrewer]

In order for hybrids to become the norm, lenders are going to have to make a fundamental change in their valuation ordering protocols. Hybrid appraisals are a two step process: (1) order and obtain the PDR, THEN (2) order and obtain the appraisal. In it's current iteration, this is simply not a viable alternative to a 'traditional' appraisal, as the cost and delivery time are greater than just ordering a traditional appraisal (you have to order and pay for the PDR, then order and pay for the appraisal). The only way the hybrid makes financial sense RN is when the borrower is granted value acceptance + PDR, and then that offering is rescinded AFTER the PDR has been delivered.

Desktop appraisals, OTOH, do make sense - but only if the appraiser has adequate information about the subject interior (which is no guarantee).

 

[Surf Cat]

Desktop appraisals, OTOH, do make sense - but only if the appraiser has adequate information about the subject interior (which is no guarantee).

Well.... the requirement for driving the comps, viewing and photographing curbside is gone. So, it only makes perfect sense that the interior description will be taken care of by the homeowner.

Homeowner takes the photos, signs an electronic document swearing under penalty of perjury and cancellation of the the loan that this is their house. Voila, property data collector gone as there's no need for this step. Home insurance companies are already doing this.

 

[George Hatch]

I have one word for you; plastics drones.

 

[Surf Cat]

I have one word for you; plastics drones.

Exterior makes perfect sense. Interior however, once that little drone knocks over grandma's vase....

 

[NC Appraising]

I truly believe that DW is doing the best he can and is on our side. That is why they are pushing hybrids.

The others...at the gses...truly would not careless if we disappeared. The gses are a tech company doing millions of transactions a year. We are just an snail to them. Tech folks got big egos and the CEOs need their big bonuses.

Im just a keyboard warrior in my parents basement. No insider info, so what do I know?

In my opinion, they know it will be waivers, waivers with pcrs and then full appraisals as a last resort. Hybrids for the most part doesn't make any sense, but I think they think that hybrids are a way to give appraisers a Lil more of the pie. That's my take.

 

[chad hampton]

Appraisers should be the ones that set the standards of appraising. Just like every other profession does.

At this point, the standards have eroded to the point where it's the wild west out there. All by design I suppose.

If they want to split the appraisal process up into 2 parts, why not send all appraisal inspection requests to appraisers? Back when the usual suspects started lobbying for these things several years ago, that's what the appraisal groups and the board assumed it would be. We were all shocked when they started saying real estate agents, uber drivers, and anyone who answers a craigslist ad would be participating in the appraisal process. We all thought the appraiser would get a request for field appraisal portion, then if the lender wanted an appraisal, the appraiser would be notified to proceed with the full appraisal. That seems like a commonsense approach that doesn't need a bunch of asterisks and mental gymnastics to understand.

It's odd that appraisers are the only group of people they don't want doing them. Again, we all know why.