Anyone seen a slow down in orders the last month?

[ucbruin]

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.

You young'uns....
Are heading to us old'uns quicker than you care to imagine....
Because it happen to us all....

 

[Joe Flacco]

You young'uns....
Are heading to us old'uns quicker than you care to imagine....
Because it happen to us all....

Tell you the truth, I feel like a boomer already.

 

[ucbruin]

Tell you the truth, I feel like a boomer already.

I've told you several times, that I think you are a smart man....
I'm sure you are preparing for change if it happens during your appraisal career....

From a different thread....

"PDCs are a solution looking for a problem."

"I think you old guys doing appraisals for beer..."

The answer to the problem....

 

[Tom D]

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.

Hey flacci, that no be the truth. Every time i called my lenders to ask for a new higher fee. They said, you already are the highest paid appraiser we have. At that point begging didn't even help.

 

[alebrewer]

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.

We haven't seen many folks take advantage of the offerings yet. My suspicion is that the production folks just aren't trained (or accustomed to) looking at the AUS findings to see if they're even granted the hybrid/ACE offerings.

 

[PhillyNJ]

Regardless…something is going on. These are normally the busier months even through slow periods. March was always more consistent. So far this year, this is the slowest month.

I think they just cut the appraisals in half.

Even the old Fannie Mae executive who brought about the waiver during Covid thinks Fannie has gone too far.

Hopefully, he’s talking to some people in government.

A man once said, nothing is more permanent than a temporary government program. That’s certainly the case.

 

[ucbruin]

"A man once said, nothing is more permanent than a temporary government program. That’s certainly the case."

 

[J Grant]

We haven't seen many folks take advantage of the offerings yet. My suspicion is that the production folks just aren't trained (or accustomed to) looking at the AUS findings to see if they're even granted the hybrid/ACE offerings.

What is the cost for a hybrid 1004 to the consumer vs traditional appraisal 1004? (or similar form with a hybrid or traditional appraisal done)

 

[J Grant]

Regardless…something is going on. These are normally the busier months even through slow periods. March was always more consistent. So far this year, this is the slowest month.

I think they just cut the appraisals in half.

Even the old Fannie Mae executive who brought about the waiver during Covid thinks Fannie has gone too far.

Hopefully, he’s talking to some people in government.

A man once said, nothing is more permanent than a temporary government program. That’s certainly the case.

Whether the appraiser does the data collection (avg fee I read, $75-$100 ) or whether the appraiser does the appraisal part of a hybrid, the appraiser makes less money and loses control over their own product.

I am sure nobody is giving these assignments for the appraisal analysis side if the appraiser does not give a discount for not inspecting, There is no volume to make it up on, either. It is one more way to shrink the appraiser pool by making the field too unprofitable to stay in for res lender work. Then they can complain there are not enough appraisers, therefore, automation is the answer.

 

[alebrewer]

What is the cost for a hybrid 1004 to the consumer vs traditional appraisal 1004? (or similar form with a hybrid or traditional appraisal done)

Hybrids are probably a bit cheaper, but overall not much difference in cost or speed.