1004mc Soon Not To Be Required By Fannie Mae

[Joe Flacco]

I have also decided that I am done with with this place too. It has simply become impossible to have a rational or intelligent conversation here anymore.

I also wish everyone good luck!

Tim, don't forget about the AFFFL draft.

 

[TRESinc]

Come on Tres. You can't possibly still be confused. Let me try to explain it so a monkey can understand it.

There are appraisers where 1 hour of research and analysis is normal. They tend to charge less. There are appraisers who spend more time because they find it necessary. They tend to charge more. It doesn't matter the fee is for either group of appraisers, you still get whatever their normal is. AMC engagement and fee practices only attracts the 1 hour of research and analysis group.

Are you still confused bro?

never have been. other than your vast experience in the world of appraising that gives you insight beyond what the rest of us mere mortals have where is the data to back up your assertions? we have already heard from others who actually see thousands of reports from thousands of appraisers that there is no discernible quality between appraisals completed by AMCs (low fees or not) and direct engagement lenders (low fees or not).

you are describing the chicken and the egg theory which gets you no where. less skill, less competent appraisers do less market research so they charge lower fees. lower fees paid by some clients attract less skilled, less competent appraisers who have to cut corners to get their report done. so by using common sense lower fees = less skilled appraisers = appraisals of lesser reliability (quality), which is what you implied at the start but for some reason don't want to admit.

 

[Joe Flacco]

never have been. other than your vast experience in the world of appraising that gives you insight beyond what the rest of us mere mortals have where is the data to back up your assertions? we have already heard from others who actually see thousands of reports from thousands of appraisers that there is no discernible quality between appraisals completed by AMCs (low fees or not) and direct engagement lenders (low fees or not).

you are describing the chicken and the egg theory which gets you no where. less skill, less competent appraisers do less market research so they charge lower fees. lower fees paid by some clients attract less skilled, less competent appraisers who have to cut corners to get their report done. so by using common sense lower fees = less skilled appraisers = appraisals of lesser reliability (quality), which is what you implied at the start but for some reason don't want to admit.

Yes. "so by using common sense lower fees = less skilled appraisers = appraisals of lesser reliability (quality)" is exactly what I have been saying. You have been saying that I was saying that appraisers use a sliding scale based on the fee. I knew if I explain it in monkey language that you would get it.

 

[TRESinc]

Yes. "so by using common sense lower fees = less skilled appraisers = appraisals of lesser reliability (quality)" is exactly what I have been saying. You have been saying that I was saying that appraisers use a sliding scale based on the fee. I knew if I explain it in monkey language that you would get it.

o rly?

OMG. When did I say lower fees = lower quality appraisals?

so now you are saying it?

i asked you if you put forth less effort when the fee is smaller, which you never answered but implied that you do not but other appraisers do. then i asked for any proof of that assertion and you just skipped right over that. you actually inferred that there is no way to measure "quality" but now suddenly there is? you have come full circle.

 

[Non Sequitur]

Oh my, this drama and conspiracy is only rivaled by the drama and conspiracy that swirled when the 1004MC was introduced.

 

[George Hatch]

I think this thread might have the original MC threads beat. The original threads were about how much extra time/effort it was going to take appraisers to do run the numbers down for the grid - which was a very real concern at the time. People were doing it by hand and reporting that the process added 45-60 minutes to their assignments and how everyone knew they weren't going to get paid extra for it. And then there was the lack of repeatability for reviewers, and how appraisers were going to get jacked up over that.

Those were real concerns. What I'm seeing in this thread mostly isn't, except to the extent that some appraisers apparently haven't been putting any thought at all into summarizing their market analyses. To any extent.

 

[DWiley]

I have also decided that I am done with with this place too. It has simply become impossible to have a rational or intelligent conversation here anymore.

I also wish everyone good luck!

I am not sure I am done permanently, but I am taking a “leave of absence” from posting until the participants/moderators restore some degree of civility to the content. Lately it is far to similar to middle school recess.

 

[gregb]

I am not sure I am done permanently, but I am taking a “leave of absence” from posting until the participants/moderators restore some degree of civility to the content. Lately it is far to similar to middle school recess.

Good move, never say "never"

 

[ucbruin]

I am not sure I am done permanently, but I am taking a “leave of absence” from posting until the participants/moderators restore some degree of civility to the content. Lately it is far to similar to middle school recess.

Obviously I only "know" you and Denis by your AF posts....
So I can sort of conceptualize your rationale....

But timd....
Pleezeeee....
He typically gives better than he gets when it comes to "civility"!!!!
Good grief, on many occasions he appears to be the schoolyard bully!!!!

I'm safe posting this because he's gone....

 

[Joe Flacco]

Some people can't handle tough questions. Then they need to take a leave of absence.