Appraisal Waivers Saved over $2B since 2017 - Per Freddie

[alebrewer]

The trades will likely become oversupplied at some point, possibly within the next 10 years. They probably won't get wiped out altogether, though. Not like the lower and middle tranches of the white collar occupations. AI is going to first devalue those occupations and then replace them altogether.

Imagine being some insurance industry worker filling an administrative or supervisory function, and getting squeezed by your outstanding student loan debt on the one end and a dead-end career track on the other. Your pay won't get reduced outright, it will just stagnate while CPI inflation eats you alive. You survived the layoffs but you + your AI assistant are now handling the volumes the other 7 employees were previously doing before they got laid off.

You were the winner in that crab bucket survival contest. The other workers lost. It will be the most marginal employees who end up taking the hit first. "marginal" consisting of more that just the productivity numbers. If you want to be one of the survivors that will start by being more compliant, more congenial, more prompt in your attendance, taking fewer days off, etc.

I think the corporate leverage of AI could potentially result in even less parity in the employer/employee relationship where only the corporate drone types will prevail.

Wow ... You're really angry, huh?

 

[glenn walker]

A borrower saving a few hundred dollars using a WAIVER instead of an appraiser does not make homes more affordable.

How does it increase liquidity? ( and to whom?)

It's not about affordability we charged $250 for the waiver. The issue is making the loan and purchase experience a pleasant and enjoyable process. The borrowers and sellers are not being stressed out about having some goofy appraiser coming out and calling for unneeded repairs or worse coming in low on the value.

Buyer's don't want to have to bring more cash to the table and sellers don't want to lower their price. The buyer and seller agree to a purchase price and that's their decision. The waivers make life easy for market participants.

 

[RustyTapeMeasure]

Lest someone think appraisers are the only folks facing extinction due to automation....

View attachment 101831

Cant AI come up with better company names? Ocrolus and Cotality ? And their selling point on undoubtedly an expensive to implement software program and yearly package is a pair of airpods ? LOL

 

[djd09]

Top economist sounds the alarm even louder on the housing market and says homebuilders are ‘giving up’​

• With mortgage rates remaining high and looking unlikely to drop much anytime soon, the housing market outlook is quickly deteriorating. Moody’s Analytics chief economist Mark Zandi said he thinks a “red flare” is more appropriate for housing, just weeks after he sent off a “yellow flare.” Unless mortgage rates come down substantially, home sales, homebuilding and prices will slump, he warned.

The housing market is getting so weak that it’s poised to become a significant drag on overall economic growth, according to Moody’s Analytics chief economist Mark Zandi.

Top economist sounds the alarm even louder on the housing market and says homebuilders are 'giving up'

"A big tell is that many builders are delaying their land purchases from the land banks. New home sales, starts, and completions will soon fall."

fortune.com

but but but waivers saved them money...

 

[chad hampton]

It’s been so disappointing as I’ve progressed in this career to see that there’s really not a group of old wisemen at the top of the profession. actually just the opposite.