Anyone seen a slow down in orders the last month?

[PhillyNJ]

January started off fine…but February and March are much slower than normal.

Have others experienced this?

Wonder is this has to do with the 90% ltv appraisal waivers.

If it does, that’s not good. Because it’s not coming back anytime soon.

 

[J Grant]

January started off fine…but February and March are much slower than normal.

Have others experienced this?

Wonder is this has to do with the 90% ltv appraisal waivers.

If it does, that’s not good. Because it’s not coming back anytime soon.

I was personally very busy this past month, with more purchases due to lower rates - the last few days it abruptly slowed down. It is impossible to predict what percent of appraisals are lost to waivers since they are so coy with the numbers and have no obligation to release them. Still, it is one more loss on top of others so only a longer trend pattern going forawars will reveal it.

 

[PhillyNJ]

I was personally very busy this past month, with more purchases due to lower rates - the last few days it abruptly slowed down. It is impossible to predict what percent of appraisals are lost to waivers since they are so coy with the numbers and have no obligation to release them. Still, it is one more loss on top of others so only a longer trend pattern going forawars will reveal it.

I actually can’t believe it’s legal for the GSEs to take data from an appraisal report and use it for their own gain.

Yes, they have a right to use the report, but do they have a right to actually take that data and use it for themselves?

It would seem when they start charging for this data, appraisers should look into a class action lawsuit for payment each time the GSEs make
make money from it.

 

[Tom D]

Consistently slow here, but at my age i don't want to do appraisal full time anymore. Also have veered back into my old fix/flip days. Had been pondering that since i saw 3% interest rates. Knowing what that 3% would lead to, been thru these periods. But, this one will be the most painful to appraisers.

 

[Joe Flacco]

It is probably not because of the waivers. Fannie Mae says that starting this weekend 90% of loans will offer the hybrid option in DU. If they can pull that off then those that work in that space might feel it big time. I don't think they can.

 

[Tom D]

Luckily i live in a big urban city with a fair amount of housing in certain neighborhoods that will never see a waiver. I have several of those surrounding my
neighborhood. Won't have to go far to do appraisal.

It is probably not because of the waivers. Fannie Mae says that starting this weekend 90% of loans will offer the hybrid option in DU. If they can pull that off then those that work in that space might feel it big time. I don't think they can.

AMC's will keep all of them for their own factory appraiser work force. One stop shopping.

 

[Joe Flacco]

Luckily i live in a big urban city with a fair amount of housing in certain neighborhoods that will never see a waiver. I have several of those surrounding my
neighborhood. Won't have to go far to do appraisal.


AMC's will keep all of them for their own factory appraiser work force. One stop shopping.

Do you think the factories have the capacity for 90% of loans? I don't believe it.

 

[Tom D]

Right now, yes. But if my direct lender didn't like or use them, probable many other don't either. The younger starving appraisers will take those positions to survive, kinda like working for the company store. The rest of us who should be retired, don't care anymore.

 

[Joe Flacco]

Right now, yes. But if my direct lender didn't like or use them, probable many other don't either. The younger starving appraisers will take those positions to survive, kinda like working for the company store. The rest of us who should be retired, don't care anymore.

That is probably true. But I think you old guys doing appraisals for beer and bait money are the ones keeping the fees low for everybody else.

 

[Alsie35]

Definite slowdown in March vs Jan-Feb down here too ... we'll see what April brings ...