3.6 and NAR, spread the news

[Bobby Bucks]

I’ve been mentioning the new form to peers on the other side of the fence whenever I get a chance. Since I hold licenses in both fields, I ‘ve always tried to share appraiser news with fellow brokers. For the 3.6, I’m keeping it simple. I’m stating there is a new form being rolled out that is an absolute nightmare for everyone involved. I compare it to the real estate purchase agreements which continually change and get more lengthy with each change, brokers and agents hate these changes, so they can relate. In this side of the business it’s a similar game where the contract lawyers, CE instructors and software companies discover new ways the form must be repeatedly changed to “protect the public” and keep the money flowing into their circus tent. So in summary, I let them know that if they are experiencing closing delays, in all likelihood it’s because of 3.6 which is 10 times the headache of their last mandatory contract change. The 3.6 may appear to be an unstoppable freight train, but if there are enough complaints and delays, they’ll take it back to the round house to revise or scrap.

 

[FMV]

I’ve been mentioning the new form to peers on the other side of the fence whenever I get a chance. Since I hold licenses in both fields, I ‘ve always tried to share appraiser news with fellow brokers. For the 3.6, I’m keeping it simple. I’m stating there is a new form being rolled out that is an absolute nightmare for everyone involved. I compare it to the real estate purchase agreements which continually change and get more lengthy with each change, brokers and agents hate these changes, so they can relate. In this side of the business it’s a similar game where the contract lawyers, CE instructors and software companies discover new ways the form must be repeatedly changed to “protect the public” and keep the money flowing into their circus tent. So in summary, I let them know that if they are experiencing closing delays, in all likelihood it’s because of 3.6 which is 10 times the headache of their last mandatory contract change.

totally agree.. already talked to a few AMC clients.. advised them of our biggest concern will be the fees.. the phoneline just goes silent.. NOT GOOD! lol

 

[TC]

I’ve been mentioning the new form to peers on the other side of the fence whenever I get a chance. Since I hold licenses in both fields, I ‘ve always tried to share appraiser news with fellow brokers. For the 3.6, I’m keeping it simple. I’m stating there is a new form being rolled out that is an absolute nightmare for everyone involved. I compare it to the real estate purchase agreements which continually change and get more lengthy with each change, brokers and agents hate these changes, so they can relate. In this side of the business it’s a similar game where the contract lawyers, CE instructors and software companies discover new ways the form must be repeatedly changed to “protect the public” and keep the money flowing into their circus tent. So in summary, I let them know that if they are experiencing closing delays, in all likelihood it’s because of 3.6 which is 10 times the headache of their last mandatory contract change.

I'm sure they'll understand and be okay with it.

 

[Essexfenwick]

I’ve been mentioning the new form to peers on the other side of the fence whenever I get a chance. Since I hold licenses in both fields, I ‘ve always tried to share appraiser news with fellow brokers. For the 3.6, I’m keeping it simple. I’m stating there is a new form being rolled out that is an absolute nightmare for everyone involved. I compare it to the real estate purchase agreements which continually change and get more lengthy with each change, brokers and agents hate these changes, so they can relate. In this side of the business it’s a similar game where the contract lawyers, CE instructors and software companies discover new ways the form must be repeatedly changed to “protect the public” and keep the money flowing into their circus tent. So in summary, I let them know that if they are experiencing closing delays, in all likelihood it’s because of 3.6 which is 10 times the headache of their last mandatory contract change. The 3.6 may appear to be an unstoppable freight train, but if there are enough complaints and delays, they’ll take it back to the round house to revise or scrap.

The GSEs will just use automated valuation and increase data collectors. The lending industry is in steamroller mode.

 

[nachocheesefries]

I’m stating there is a new form being rolled out that is an absolute nightmare for everyone involved if they are experiencing closing delays, in all likelihood it’s because of 3.6 which is 10 times the headache of their last mandatory contract change. The 3.6 may appear to be an unstoppable freight train, but if there are enough complaints and delays, they’ll take it back to the round house to revise or scrap.

This is what I am harping on...alamode's solution to the 3.6 is a nightmare. AI solutions for the 3.6 are exciting and efficient. We have got to quit harping because we are droned into one software companies typewriter like solution to the 3.6. There are many options out there to service your clients. If you don't...a line of new appraisers operating faster, on AI are going to take them from you.

This is not the future anymore...its now and there are active AI solutions for the 3.6.

 

[chad hampton]

Im ok with that. I'll collect my UBI check directly from the GSEs then

 

[J Grant]

This is what I am harping on...alamode's solution to the 3.6 is a nightmare. AI solutions for the 3.6 are exciting and efficient. We have got to quit harping because we are droned into one software companies typewriter like solution to the 3.6. There are many options out there to service your clients. If you don't...a line of new appraisers operating faster, on AI are going to take them from you.

This is not the future anymore...its now and there are active AI solutions for the 3.6.

AI that can populate the form can work with ALamode as well on UAD 3.6

How well or how poorly AI programs are used, whether they are used to do more than populate fields, will depend on monitoring - both at the GSE's and client levels - will skilled, competent appraiser reviewers be valued and used ? Other professions or standard bearers are developing or using programs that scan for AI use - patterns, language etc.

AI by itself - it has access to the same data we have. Will appraisal be a speed race, or valued for it's worth in sifting through the data to apply appraisal fundamentals? A RE agent met me at a sale property several weeks ago and was excited to show me her comp selections and "analysis" from the anthropic AI "think like an appraiser" module - well guess what, it picked an array of comps, many of them awful, and its canned analysis was almost worthless.

The elephant in the room is cheap AMC fees as an appraiser selector - if the GSEs and lender clients fail to address that, they deserve what they get - the public does not deserve the lowest common denominator just to enrich AMC's and the lenders /profiteers associated with them. The lender, if they want to use an AMC, should pay the AMC, not have flea market bidding for the lowest fee appraiser. How can anyone expect the new generations of appraisers to have ethics and take the time needed when they are severely underpaid and seeing the slop/churn and burn rewarded? I am impressed by some of the newer appraisers who show up here, but they are also leaving and are under stress financially per their posts.

Skewed valuations impact RE markets and local communities. The US taxpayer backs the loans that allow the long repayment periods and low $ down payments and preferred interest rates of FF backed res lending.

 

[OSU Beavers]

I hate wasting my time having to beta test between established dinosaur software companies and new today, gone tomorrow AI start-ups.

 

[ZZGAMAZZ]

This is what I am harping on...alamode's solution to the 3.6 is a nightmare. AI solutions for the 3.6 are exciting and efficient. We have got to quit harping because we are droned into one software companies typewriter like solution to the 3.6. There are many options out there to service your clients. If you don't...a line of new appraisers operating faster, on AI are going to take them from you.

This is not the future anymore...its now and there are active AI solutions for the 3.6.

Seems a shame to cut short your perspective I might be wrong of course but I'm wondering if a majority of all appraisers are only a little way up the learning curve. To elaborate on your perspective, even to summarize it, but with specific info, could be Extremely Helpful. Please consider. GM