3.6 Crunch Time

[chad hampton]

the only trouble is the GSEs are getting mostly junk appraisal inspections.

The junk “data” they collect is only good for 1 day

 

[Airstream]

Ones now doing rural-complex and oddballs both private and banks will end up as the survivors amongst the much smaller number of licenced appraisers.

I agree. And they will get paid handsomely. That’s what I am finding out.

 

[autobot]

Today's UAD 3.6 challenge!
Which exact fields of UAD 3.6 couldn't be filled out by an AI app?
Sections 1-29, but for this challenge assume its a detached single family home, with or without garages, ADUs, etc....not an apt complex for sale or a condo.

https://uniformappraisal.com/URAR/summary?info=1

Assume the following:
1)AI got the address off the Data Collector's cell phone when the DC opened the app and started taking pics, and AI is hooked into MLS and "the entire WWW" including subscription "People Finder" etc apps.
2)The Data Collector took 1000+ hi rez pics, including all current and past documents, overlapping every surface inside and out, as well as followed the apps instruction on basic things like water flow at faucets and turning on HVAC, and checking for odd smells. AI can direct DC to poke or feel at things like areas of discoloration that could be wet, etc. AI is allowed to direct the DC to take specific pics the AI might need, such as Specs Plates on stoves, HVAC units, and AI can present pics to Google etc for more data on that model.
3)A real human programmer has gone over every field in UAD 3.6 and given AI "hints" at where to look, and done a 100 actual IRL examples for the AI to refer to for likely responses, including the "paths" on where to find the data.
4)AI has among other things, ability to process photos equal or better than Vprop.AI.

Check out Vprop.AI, its free to do a sample. You take a few pics of a house and up load them and it produces a mock "walk through" from still photos, with comments calling out the features. Unfortunately, its geared 110% to what a typical Seller's agents would be, and only comments on the good aspects, which people can see for themselves. None the less, its kinda impressive and could be re-set to be "neutrally observant".

One really funny thing: I made a "walk through" and one of the pics was my reflection in my bathroom mirror. It WAS "me", sort of, in that it was the type and colors of striped shirt, and more or less my hair cut and color....but it looked like me from about 40yrs and 100lbs ago when I was maybe 15yrs old!!! Oh, and a BIG part of Vprop.AI's pitch is "your video can include YOU inserted into every frame" (because when buyers are trying to decide to visit a house they want the RE Agent's imagine taking up 1/2 the screen of every pic) which I assume means their AI processed version of "you". Like I said, its marketed to Listing Agents.

Anyways, Vprop.AI might have given me the premise for the script for a 21st century remake/sequel to "The Picture of Dorian Gray" but not sure exactly how to "flip the script". Maybe I'll ask them to set their app to more of a hyper-critical "building inspector/buyer" view point to focus on bring out future problems and it will again catch a pic of me in a mirror, with horrifying results.

PS-Does this "UAD 3.6 Guide" in fact map out ALL of the possible fields of 3.6, and I assume the "8.011" etc match the descriptions in the B-column of this spreadsheet where I'm showing the "8.xxxx" part?
I think I'm starting to get a handle on this, and will probably go for this Guide's "Free trial".
"
Appendix A-1: URAR Delivery Specification


This document contains the UAD dataset and XML mapping based on MISMO v3.6. It includes all the details necessary to create a well-formed XML file in accordance with MISMO v3.6."

PPS-My preliminary conclusion is all this "dynamic" and "drop downs" is just a gimmick of HUD form designers trying to be "sexy", and it could've been done by displaying the entire 3.6 "map" and just high-light which sections are needed for a the 1/2 dozen or so possible types of Appraisals.
If I did it I might have a front page of a long list of simple Yes/No/Maybe questions similar to what you get at your first visit to a doctor. Then that would produce a 3.6 complaint form for you to fill in details, by automatically only showing those fields and auto-filling what it can off your front page intro responses.

 

[Sandra Koutsopoulos]

That's just cray-cray!

 

[Tom D]

When AI can do all that stuff in the 3.6 form for you. Pretty soon it will be making $500, and you be getting $20 hour secretarial pay. But then get AI to check AI. Is that a conflict, friend checking a friend, both talking to each other.

 

[djd09]

It's cheaper because almost all will be waivers or AVMs. 3.6 will be targeted data collection.

free for now..until they remove all their competition...then its a $2,000 waiver fee...hahaha the public will get their just desserts too

 

[J Grant]

When AI can do all that stuff in the 3.6 form for you. Pretty soon it will be making $500, and you be getting $20 hour secretarial pay. But then get AI to check AI. Is that a conflict, friend checking a friend, both talking to each other.

What the AI geniuses haven't figured out is this: as more humans get displaced from jobs or shift to low-paid gig work, who will have enough $ to buy houses or $ to pay enough rent for landlords to hold onto a property?

The good news : AI can be deployed by the greedsters to efficiently do a valuation and UW a loan!! It displaced jobs, who cares.... it saved the borrower time and Money!! (That is the logic ) The bad news: very few borrowers will be employed/have enough income to purchase property.

 

[Essexfenwick]

What the AI geniuses haven't figured out is this: as more humans get displaced from jobs or shift to low-paid gig work, who will have enough $ to buy houses or $ to pay enough rent for landlords to hold onto a property?

The good news : AI can be deployed by the greedsters to efficiently do a valuation and UW a loan!! It displaced jobs, who cares.... it saved the borrower time and Money!! (That is the logic ) The bad news: very few borrowers will be employed/have enough income to purchase property.

Everybody is unsure and unsettled about the future with AI. Much like after the bomb was dropped on Hiroshima. Most people probably weren't confident humanity would exist 80 years later.

 

[J Grant]

Everybody is unsure and unsettled about the future with AI. Much like after the bomb was dropped on Hiroshima. Most people probably weren't confident humanity would exist 80 years later.

What a weird comparison!

 

[glenn walker]

free for now..until they remove all their competition...then its a $2,000 waiver fee...hahaha the public will get their just desserts too

There's already a waiver fee most charge. I don't know the cap on it.