3.6 Crunch Time

[chad hampton]

How did any of these software providers get their software approved? I really hope all the boots on the ground appraisers that post on Facebook are lying. I’m sure that can be the case. I hope they’re not all digging in for five hours trying to produce an appraisal report and then eventually just quitting halfway through.

I realize there’s a lot of operator error when it comes to appraisers, especially when you throw an entirely new form system on 65 yr olds, I get it. But It surely had to be easier than what it appears to be for approval.

 

[djd09]

If one wants to expand on the scope of work, including the nature/degree of inspection, there is a dedicated comment field for that. The first report I looked at this morning has the "I'm not a home inspector comment" in that section of the report.

In general, that is one of the major differences between 2.6 and 3.6 - rather than relying on an unstructured text addendum, comments are placed in the relevant section of the report.

all of this because they cant read an addendum...but they are going to read 100's of other addendums...gas lighting

 

[DWiley]

How did any of these software providers get their software approved? I really hope all the boots on the ground appraisers that post on Facebook are lying. Sure they’re not all digging in for five hours trying to produce an appraisal report and then eventually just quitting halfway through.

I realize there’s a lot of operator error when it comes to appraisers, especially when you throw an entirely new form system on 65 yr olds, I get it. But It surely had to be easier than what it appears to be for approval.

All the GSEs do is verify that the software generates reports that meet the UAD spec. Verification of that one thing is not "approval" or "endorsement." That approach is no different than it was for UAD 2.6.

As I have said many times, the various software solutions that are out there are VERY different. They have very different user interfaces, and they vary greatly in feature set. I would definitely look at more than one option before making a choices on which one to use.

 

[djd09]

aren't you busy reading other appraisers reports...so much for confidentiality

notice you aint quoting that one...so how many 3.6ixers have you completed?

 

[DWiley]

all of this because they cant read an addendum...but they are going to read 100's of other addendums...gas lighting

The difference is that they are not addenda. They are imbedded right in the report.

When you read a 2.6 report today and somewhere on the form it says "see attached comments" how does a reader know where to even look for those comments?

 

[Zoe]

All the GSEs do is verify that the software generates reports that meet the UAD spec. Verification of that one thing is not "approval" or "endorsement." That approach is no different than it was for UAD 2.6.

As I have said many times, the various software solutions that are out there are VERY different. They have very different user interfaces, and they vary greatly in feature set. I would definitely look at more than one option before making a choices on which one to use.

Your missing the point. You did good helping design 1004MC. Who designed 3.6 and got it passed to approval?

 

[DWiley]

notice you aint quoting that one...so how many 3.6ixers have you completed?

LOL. The fact that you think that an investor reading an appraisal report is an issue of confidentiality, well that itself says much more than I could ever say.

 

[Zoe]

LOL. The fact that you think that an investor reading an appraisal report is an issue of confidentiality, well that itself says much more than I could ever say.

You don't have a professional and competent appraiser using hybrids and waivers. Different problem.

 

[djd09]

LOL. The fact that you think that an investor reading an appraisal report is an issue of confidentiality, well that itself says much more than I could ever say.

so how many? zero? one? hundred?

 

[djd09]

The difference is that they are not addenda. They are imbedded right in the report.

When you read a 2.6 report today and somewhere on the form it says "see attached comments" how does a reader know where to even look for those comments?

so they the investors didn't read the report then...but they will now