3.6 Crunch Time

[Fernando]

Getting a lot of surveys from AMCs & lenders about 3.6 lately, I don't think they're gonna like my answers which I'm answering in the most pessimistic ways possible, much higher fees, much longer turn time and a plan to focus on FHA & other work while watching to see how the rollout plays out.

Same here from AMCs asking me about 3.6. I just ignore them.
I've been in the business for too long. I'll adapt when I'm force to do it. Ugh, just like ANSI.

 

[KeyWhiz]

Is it just me or do others also fudge on the ANSI measurements? What's the difference between 20.9 feet and 21 feet? Won't make much of gross area differences. Silly ANSI.

They will find the consistency between various measurements won't be any better than it was before.

 

[Fernando]

A lot of old geezard appraisers are in it because they like appraising. Rules set by Fannie has been more and more arduous and I thought ANSI was the final straw. Then there's the coming 3.6.
If it's too long to do an appraisal and the fees don't compensate, then the old appraisers don't need to take that sh*t and can retire.

 

[Airstream]

They will find the consistency between various measurements won't be any better than it was before.

The main thing with ANSI is what part of the house is GLA and not. The entire measuring to the nearest inch is just preposterous. Houses aren’t built with walls 28’1”. And even if they were we aren’t that good; especially when we get to second story Cape Cods with weird layouts. And frankly if you are measuring with a tape measure you can’t pull the tape that tight. You will have about 1” of sag. And when measuring with a laser it is about impossible to be that exact unless the laser shoot is perfectly parallel to the ground. But then FANNIE accepts Scanned drawings and I just read that Cubicasa (Sp?) is about 97% accurate when using LINAR and 95% when not. And then how many comps are measured to the nearest inch? I just looked at 3 sales today in the MLS and compared them to data in the assessor. Not one lined up with assessor data. The level of data errors in the comparable sales is atrocious. When I was doing the training for FHA (some years back) they wanted us to be within 5% of the actual GLA. And I can’t tell you how many times I have drawn a floor plan from a builder plan and the GLA isn’t the same as on the plans!!! Fannie needs to get their head out of their Fannie.

Frankly, ANSI to the nearest inch is about the least of my concerns.

 

[Dublin ohio]

And then the report failed the compliance check and kicked it back with an error

I got a couple of errors that took me a couple of tries to correct. What error did you get

 

[Airstream]

I got a couple of errors that took me a couple of tries to correct. What error did you get

I ran the E&O on a Total report and got 3 different statements. Corrected the first batch and got 3 different, and when I looked they were correct. Then I got one with 10 errors, all correct. Then I finally ran it a 4th time and it was fine; no errors!!

 

[Dublin ohio]

A lot of old geezard appraisers are in it because they like appraising. Rules set by Fannie has been more and more arduous and I thought ANSI was the final straw. Then there's the coming 3.6.
If it's too long to do an appraisal and the fees don't compensate, then the old appraisers don't need to take that sh*t and can retire.

The proper term is "geezer" young whippersnapper. Geezard is a character from a fantasy game. I seem to have no issues with gse guidelines, ANSI or 3.6. Must be a geezer thing

 

[OSU Beavers]

The main thing with ANSI is what part of the house is GLA and not. The entire measuring to the nearest inch is just preposterous. Houses aren’t built with walls 28’1”. And even if they were we aren’t that good; especially when we get to second story Cape Cods with weird layouts. And frankly if you are measuring with a tape measure you can’t pull the tape that tight. You will have about 1” of sag. And when measuring with a laser it is about impossible to be that exact unless the laser shoot is perfectly parallel to the ground. But then FANNIE accepts Scanned drawings and I just read that Cubicasa (Sp?) is about 97% accurate when using LINAR and 95% when not. And then how many comps are measured to the nearest inch? I just looked at 3 sales today in the MLS and compared them to data in the assessor. Not one lined up with assessor data. The level of data errors in the comparable sales is atrocious. When I was doing the training for FHA (some years back) they wanted us to be within 5% of the actual GLA. And I can’t tell you how many times I have drawn a floor plan from a builder plan and the GLA isn’t the same as on the plans!!! Fannie needs to get their head out of their Fannie.

Frankly, ANSI to the nearest inch is about the least of my concerns.

Cubicasa only computes the Interior area not the GLA or whatever we are suppose to call it now.

 

[KeyWhiz]

A lot of old geezard appraisers are in it because they like appraising. Rules set by Fannie has been more and more arduous and I thought ANSI was the final straw. Then there's the coming 3.6.
If it's too long to do an appraisal and the fees don't compensate, then the old appraisers don't need to take that sh*t and can retire.

I'm just hoping to ride it out until retirement as it is. 5-10 years max. If it comes sooner, that probably works too.

 

[KeyWhiz]

I got a couple of errors that took me a couple of tries to correct. What error did you get

It said something about something being entered wrong having to do "legal entity".

Tech support got back to me a couple of hours later. Turns out there's a page called "Inspection Manager" which has a big "coming soon" banner across it so I just skipped that page. There's a box that says "Information from Property Data Report" that was checked. I unchecked it and cleared the error.