3.6 The promises, the predictions, the panic and the fight for the dwindling appraiser dollars

[Sandra Koutsopoulos]

In another interaction today, I spoke with a direct lender who said they are taking CLASSES in their office to learn "how to read the 3.6 appraisals". Really?! She feels that it is inevitable that 3.6 is an unavoidable mandate, and they are trying to plan to make it doable. I mentioned that during the past 30 days, my Ala Mode software has become very glitchy, and she noted that she has heard the same thing from many other appraisers. Likely a result of them trying to force the 3.6 into the existing framework. If I'm not fully back into the sales side of the business by November, and retain my appraisal business, I fully intend to only do the 3.6 reports for my direct lenders for the same or higher fees (they pay me very well), and there's not going to be any appraisals done in my office that do not start with at least a $600 fee. Even a beaten mule has a limit where they won't go a step further.