AMC asking for UAD 3.6 fees, what's everyone thinking?

[Overimprovement]

So...how many sales does an AI model need that attempts to value the contributions of 1600 items? One would think that after a year or 2, these models would isolate about 95% as having a nominal enough impact to value to stop the need to report them. Thinking entry height above grade as one example. Are there entries for paint sheen, color, quality, and whether primer was used?

I can see this stip:
"appraiser/data collector/greeter to bracket paint sheen on trim in bedroom 3 closet."

 

[Fernando]

Someone has to ask you the obvious, Terrel ( 'cause ... its borderline annoying to be frank ... ) - why do you keep changing your avatar? Why can't you be normal like me & Glenn, for example?

Nothing personal but you and Glenn should change your avatar. Y'all could do better.

 

[jpowers]

You ever completed an appraisal? Or are you just a "Tech-Bro"with a thin talent stack and limited life experience, who's never had a real job, who's done nothing in his life but sit at a keyboard, and who's now come here to pontificate from "on high"? Enquiring minds want to know. Do tell us.

(Might be useful to your 'street cred' to add what military branch you served in, what theater of operations you were deployed in and what small business employing others you've created in your time ... if you did, say it ... because it would help people to take you seriously ... if you did none if those things ... 'go fly a kite' ... (I'd like to use the type of lingo we used on deployment, but I'm afraid you might faint) ...

Fair question. No, I haven't done an appraisal myself — never claimed to. My partner is a
28-year residential appraiser and he's the one who got me into this. Watching him deal
with the tools available made me want to help build something better — something that
actually works for appraisers, not the system.

Not here to argue credentials. The field counts in my post are straight from the MISMO 3.6
spec — anyone can verify them. As for the rest — Air Force, 1992-1996, enlisted flight
crew, 965th AWACS. Most of my deployments were Saudi Arabia and Turkey. I'm not some
LinkedIn tech bro. How about you?

 

[Sandra Koutsopoulos]

I opened my email this morning, and what did I find? Well, it was the first time in a long time that I laughed out loud (knowingly) for the visual of appraisers' mindset:

 

[djd09]

why do 3.6...so they can steal your data...use it against you...and call you a racist

 

[Alsie35]

Fair question. No, I haven't done an appraisal myself — never claimed to. My partner is a
28-year residential appraiser and he's the one who got me into this. Watching him deal
with the tools available made me want to help build something better — something that
actually works for appraisers, not the system.

Not here to argue credentials. The field counts in my post are straight from the MISMO 3.6
spec — anyone can verify them. As for the rest — Air Force, 1992-1996, enlisted flight
crew, 965th AWACS. Most of my deployments were Saudi Arabia and Turkey. I'm not some
LinkedIn tech bro. How about you?

Officer, deployed to the Balkans in '96. (Being a little circumspect with details as this is a public forum and I am of the generation that still values this near-obsolete thing called 'privacy'. I had a number of 'special out-of-AFSC, or MOS' assignments during my time in due to linguistic skills I possess that DoD was in dire need of. That year was one of them. That's all I can say about it publicly.

Retrained into this gig 25 years ago after getting out so as not to split up the family (kids were small and I was 'married to the military' at the time. One of those choices life presents you with. Quite happy with how it turned out). Props for not rising to the bait in my post - I play a curmudgeon on the AF from time to time.

I'm happily retiring in a year and don't have to mess with this '3.6 Abomination' they have created. Good luck to you, software tech is where the future is, its just not my future.

Its time to 'party down'.

 

[NC Appraising]

.

As for the "death of the appraiser" concern — I'd argue the opposite. The 3.6 form asks for more professional
judgment, not less. Ceiling heights by room, per-room condition ratings, structured narratives — that's an
appraiser's expertise, not something a spreadsheet replaces. The software should handle the tedious data entry so
appraisers can focus on the parts that actually require their knowledge. If anything, this makes experienced
appraisers more valuable.

I have to disagree with you. I tried to find flow chart from Fannie. But it is waivers, waivers with pdr, hybrids and traditional appraisals.

Currently, waivers are around 20%. This will increase.

Then you have waivers with pcrs. There is tech now that can measure the ceiling height, window openings, quality and condition, etc.

We are an interim. We have less than 10 years left. We will be left with 20% of the work. Good luck to you.

Specialized Appraisal & Inspection AI

• Restb.AI: A leader in computer vision for real estate, this technology automatically extracts property features (flooring types, appliances, room types) from photos. It generates automated condition and quality scores and can auto-populate appraisal reports in Uniform Appraisal Dataset (UAD) language.
• Automax.AI: An "AI-native" firm that uses a mobile app with LiDAR and computer vision to scan properties. It extracts over 150 attributes automatically to generate Fannie Mae and Freddie Mac compliant appraisal reports in under 20 minutes.
• Class Valuation (INvision Capture®): A mobile app that uses 3D imaging technology to capture property details "to-the-inch". It creates 3D models and ANSI-standard floor plans from scans to assist appraisers in desktop and hybrid valuations.

https://restb.AI/

Fannie Mae Provides Updates Regarding Valuation Modernization | Fannie Mae

Fannie Mae published a Selling Guide announcement communicating details to its Single-Family sellers about transitioning to a range of options to establish a property's market value, with the option matching the risk of the collateral and loan transaction.

capitalmarkets.fanniemae.com

Value Acceptance | Fannie Mae

Fannie Mae is on a journey of continuous improvement to make the home valuation process more efficient and accurate. We provide a spectrum of options to establish a property’s market value, with the option matching the risk of the collateral and the loan transaction. The spectrum balances...

singlefamily.fanniemae.com

 

[Fernando]

I was talking with my daughter over lunch and she told me that she thinks she's dealing with the leader she has to deal with from the government is an AI.
She works for a private firm and has to deal with a federal agency.
Since DODGE came into existence, this new leader has never shown his/her face on zoom and never spoke having subordinates speak for him/her.
It reminds me of the Board making decision through a rep in the show Severance.
It would make sense that Elon has put an AI to deal with workers.
Could be a time when appraisers will have to answer to AI in dealing with clients/lenders in completing appraisals. Welcome to the new UAD 3.6 Abomination World.

 

[jpowers]

Officer, deployed to the Balkans in '96. (Being a little circumspect with details as this is a public forum and I am of the generation that still values this near-obsolete thing called 'privacy'. I had a number of 'special out-of-AFSC, or MOS' assignments during my time in due to linguistic skills I possess that DoD was in dire need of. That year was one of them. That's all I can say about it publicly.

Retrained into this gig 25 years ago after getting out so as not to split up the family (kids were small and I was 'married to the military' at the time. One of those choices life presents you with. Quite happy with how it turned out). Props for not rising to the bait in my post - I play a curmudgeon on the AF from time to time.

I'm happily retiring in a year and don't have to mess with this '3.6 Abomination' they have created. Good luck to you, software tech is where the future is, its just not my future.

Its time to 'party down'.

Officer, deployed to the Balkans in '96. (Being a little circumspect with details as this is a public forum and I am of the generation that still values this near-obsolete thing called 'privacy'. I had a number of 'special out-of-AFSC, or MOS' assignments during my time in due to linguistic skills I possess that DoD was in dire need of. That year was one of them. That's all I can say about it publicly.

Retrained into this gig 25 years ago after getting out so as not to split up the family (kids were small and I was 'married to the military' at the time. One of those choices life presents you with. Quite happy with how it turned out). Props for not rising to the bait in my post - I play a curmudgeon on the AF from time to time.

I'm happily retiring in a year and don't have to mess with this '3.6 Abomination' they have created. Good luck to you, software tech is where the future is, its just not my future.

Its time to 'party down'.

Enjoy the retirement — I'm sure you've earned it. I took one myself about two years ago, but then Greg got me excited about this project and I can never say no to a good challenge. I was informed about a lot of concerns around the direction of the appraisal industry and you all are confirming a lot of things here for sure! Hopefully you stick around long enough to see what we build. I think most of you will be pleasantly surprised.

 

[chad hampton]

I opened my email this morning, and what did I find? Well, it was the first time in a long time that I laughed out loud (knowingly) for the visual of appraisers' mindset:
View attachment 107307

What planet do those people live in? No one is ready, every software loaded with bugs, lenders hate it. And they put a poll out?

Reminds me of those polls that say one color is no. Then another piece of the pie says also no, but in red.