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

[Fernando]

UAD 3.6 Abomination is not working out as the GSEs had hoped. I'll hang around and see the chaos clients, lenders, appraisers, agents, consumers, and GSEs will face.
It's a terrible form and be interesting how it will play out.

 

[J Grant]

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.

Possibly the best-known automotive quote of all time is, “Any color the customer wants, as long as it’s black.” It was Henry Ford, describing his Model T.

 

[Jason Hill]

My initial fees will be $1,200-$1,500 depending on complexity. I fully expect to get zero assignments at this price point at first, other than my local banks. So I'll go part time for a month or 2 off during the good fishing season and let this all settle out, then start looking for a new job if it doesn't work out. I'm thinking I'll go be an HVAC technician or plumber. Will have to start all over at 50 but oh well, hard to make much money doing this anyway. Good luck everybody, its about to get crazy.

 

[Surf Cat]

My initial fees will be $1,200-$1,500 depending on complexity. I fully expect to get zero assignments

Lol..... I like the go big or go home mentality. Good thing your expectations are low with those numbers.

I'm thinking I'll go be an HVAC technician or plumber. Will have to start all over at 50 but oh well, hard to make much money doing this anyway.

At 50.....HVAC tech would be easier on the body.

It's funny, I got out of construction and went into appraising to save my body. Now in my mid 60s, I'm right back into that world on our rental and primary residence. Plus, I help out my wife's network of friends with dishwasher installs, garbage disposals, Appliance repair, easy electrical problems. I make more doing that than AMC work.

I enjoy solving problems and fixing things. There's a satisfaction with making someone real happy without an ROV or request for changes to poke you for a higher value. My body hurts after some of those gigs though, that's for sure.

 

[chad hampton]

I already get $900-$1,200 from my direct lender bank client. Only 4-6 a month from them though. Need to make another 3-5k a month from somewhere. Have a few other good clients, but inevitably I have to do 3-5 a month from some of the GSE's favorite breakfast club AMCs. What a piece of work those firms are. Surprised the GSE's like working with them so much.

Overall, not bad for a part time gig.
I'm going to let all my fellow appraiser's take classes and work out the bugs. I'll worry about this in 18 months when it might go live.

 

[Terrel L. Shields]

Am I the only one thinking that appraisers are contributing to their own demise with this new dynamic form? All of the data that will be aggregated on a daily basis across the country brings us one step closer to AI appraisals does it not?

No. obviously the goal is to replace the independent fee appraiser entirely except perhaps for the truly large complex property that won't fit on a form.

That should mean higher compensation, not less.

Should. But the cruel pinch of want forces appraisers to bid lower.

Possibly the best-known automotive quote of all time is, “Any color the customer wants, as long as it’s black.” It was Henry Ford, describing his Model T.

And the reason he lost ground to car makers who painted cars in different colors.

 

[Airstream]

Up $150 for a SFR.

 

[Sandra Koutsopoulos]

Up $150 for a SFR.

Make that $300 or more. After all, we are expected with the 3.6 to do something like a home inspector's job, and they garner more than $300 a pop, plus coming to a supportable value conclusion, which SHOULD pay more than $400 just by itself.