Are you currently doing appraisals with 3.6 form?

[shrubberyvaluation]

Maybe. But the more likely outcome is lenders will push the waiver (Value Acceptance, ACE) and PDC buttons to close the deal (like they did during COVID) before they pay more and wait longer for a 3.6 report.

Most lenders aren't ordering 3.6 reports because they don't have to yet and they don't have time to beta test someone else's software/process. And look at it from the lender's perspective, what lucky borrower(s) do you pick for the beta test? And what do you tell the borrower? "Hey Mr./Ms. borrower, you're the lucky winner! Your appraisal fee is higher and will take longer because we want to beta test new appraisal software. Don't worry, your seller will understand the delay. Please send us the contract extension when you get it signed." Good luck with that.

I know it's hard for appraisers to swallow, but no one is coming to save us. Not the the insta-toot, not TAF or the rest of the useless alphabet soup in DC, and definitely not the GSEs. It's that simple.

Or they could just give the appraiser more of that $1,000 they already collect instead of giving 75% to an AMC.

 

[alebrewer]

I just ran across them the other day, hadn't previously looked into their platform. Free use is tempting... but they can pull the rug at any time. They will likely start charging a year from now. I truly want to go with the best platform but I don't like any of them... probably because the new system itself is terrible

I'd be curious to know what you think about Reggora.

I've worked through Reggora, SFREP, Freedom, and AIVRE. AIVRE is too automated for me. Freedom is a hot mess. SFREP is ok, but very 'old school'. Reggora seems to be the most intuitive that I've tried. I agree with you, though. They're all very tedious.

 

[Tim Hicks (Texas)]

On my practice 3.6 there was no required “box” for dimensions. I went back and forth with the tab key looking for it. I called a guy at SFREP to see if I was missing something and he said in the new form dimensions aren’t required.

Things must be bad if Bobby Bucks is testing out the 3.6 before me. Just not enough time...

 

[Joe Flacco]

I've worked through Reggora, SFREP, Freedom, and AIVRE. AIVRE is too automated for me. Freedom is a hot mess. SFREP is ok, but very 'old school'. Reggora seems to be the most intuitive that I've tried. I agree with you, though. They're all very tedious.

So how long is it taking you?

 

[alebrewer]

So how long is it taking you?

First Reggora file took ~ 5 hours (no inspection). 2nd one was about 4. SFREP was about 7 hours total.

 

[Joe Flacco]

First Reggora file took ~ 5 hours (no inspection). 2nd one was about 4. SFREP was about 7 hours total.

That's not bad.

 

[George Hatch]

If you want to get a glimpse of the reader experience using your legacy appraisalware, try filling out the Appraisal Institute SFR form without adding narrative addenda, then imagine adding thumbnails of your comps in the SC grid and more detailed site and improvements descriptions.
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Just in general and excluding the "extra" in the level of detail in the 3.6....

When the base form can accommodate everything you need to say about a subject (with only rare exceptions) reading a dozen of them for content and from different appraisers will become a very different review experience. Whatever you have to say about the site is always in the same place in every report regardless of who. Whatever you have to say about the subject - and its condition - is in the same place in every report.

There are 2 problems with all-narrative formats and the extensive use of narrative addenda:

1- everyone does the sequence and the content differently from one another. If you're only reading one report that's a little cumbersome but when you're reading a lot of them the "easter egg hunt" it takes to figure out where something is addressed in a report becomes a hassle.​

​

2- a reader has to be savvy enough to spot any omissions. On a structured form, a field that is left blank leaves a noticeable hole, but in a narrative format an omission leaves no hole; it's simply not addressed. A reader has to know what they're looking for and check a couple times in order to ensure they didn't miss the it, lest the response turns out to be "read the report, I already addressed this in the addenda". Running into that hassle (take 2-3 passes to know for sure there's a hole) a couple times a day becomes annoying.​

​

Assuming similar levels of detail (which is not the case with the 3.6) a generally more reader-friendly report layout doesn't make the report writing go faster, except to the extent we're avoiding repetition between the base form and the addenda. But it does make reading reports for content go a fair bit faster and easier.

Aside from that, if we know a lot of appraisers are commonly allowing the SR1 development to follow (instead of lead) the SR2 report format it becomes even more critical for the designers of these formats to structure them in the more logical and consistent layout.

 

[Joe Flacco]

If you want to get a glimpse of the reader experience using your legacy appraisalware, try filling out the Appraisal Institute SFR form without adding narrative addenda, then imagine adding thumbnails of your comps in the SC grid and more detailed site and improvements descriptions.
------------------

Just in general and excluding the "extra" in the level of detail in the 3.6....

When the base form can accommodate everything you need to say about a subject (with only rare exceptions) reading a dozen of them for content and from different appraisers will become a very different review experience. Whatever you have to say about the site is always in the same place in every report regardless of who. Whatever you have to say about the subject - and its condition - is in the same place in every report.

There are 2 problems with all-narrative formats and the extensive use of narrative addenda:

1- everyone does the sequence and the content differently from one another. If you're only reading one report that's a little cumbersome but when you're reading a lot of them the "easter egg hunt" it takes to figure out where something is addressed in a report becomes a hassle.​

​

2- a reader has to be savvy enough to spot any omissions. On a structured form, a field that is left blank leaves a noticeable hole, but in a narrative format an omission leaves no hole; it's simply not addressed. A reader has to know what they're looking for and check a couple times in order to ensure they didn't miss the it, lest the response turns out to be "read the report, I already addressed this in the addenda". Running into that hassle (take 2-3 passes to know for sure there's a hole) a couple times a day becomes annoying.​

​

Assuming similar levels of detail (which is not the case with the 3.6) a generally more reader-friendly report layout doesn't make the report writing go faster, except to the extent we're avoiding repetition between the base form and the addenda. But it does make reading reports for content go a fair bit faster and easier.

Aside from that, if we know a lot of appraisers are commonly allowing the SR1 development to follow (instead of lead) the SR2 report format it becomes even more critical for the designers of these formats to structure them in the more logical and consistent layout.

That's all good and fine. That's the script for selling it to the lenders and other stakeholders. But at the end of the day the main reason for it is data collection and organization, which is fine too.

 

[Bobby Bucks]

Things must be bad if Bobby Bucks is testing out the 3.6 before me. Just not enough time...

I’m actually busier this year than last, had a lull and spent a few hours playing with 3.6. I’m putting on the brakes and going to wait until they actually fix the mess before spending any real time with it, besides, there appear to be legions of volunteers eager to suffer for the cause, whatever the UAD cause may be. Funny thing, every thread in here about 3.6 has been hijacked by the same pseudo intellectual blowhards. At one time this forum was a treasure, but it has regressed significantly to use a little appraisal lingo. Adios.

 

[Doug Wegener]

I wondered the same thing myself, though things have not been too slow for me.
It's possible but I've spoken to some clients about roll out and implementation. One large AMC just sent it's 200th report, nationwide... In my opinion, that indicates extremely poor readiness on both lender and appraiser side. The rep at this AMC told me he doesn't think rollout is going to be delayed based on what he's seen but I don't see how they can keep the timeline with the poor numbers being talked about.

I also receive requests (almost daily) to update my readiness level. Ignore.
Personally, I'll get ready when I'm ready to get ready... not before. And the horrible choices in software aren't doing us any favors.
Nighthawk STILL isn't ready. They say it can now deliver reports but it doesn't even integrate with the mobile app yet? AND you have to attend one of their "training" webinars to get access. By the way, the webinar is a near total waste of time.
I don't want a cloud based system either so that rules out nighthawk and several others.
TOTAL is, unsurprisingly, a TOTAL nightmare. Honestly, I left them ~16 years ago and never looked back. I would never buy another product from them again. This new product seems to be on par with their previous products though.
So SFREP? IMHO that's the only real option.
And what's with these companies trying to charge us a per report fee for the software?! Utter insanity. Nighthawk originally said it was going to be per report but I don't know if they backed off from that yet. They likely will if they want to have a chance... but honestly I think they're arrogant enough to think they can push forward with that model.
My biggest thing right now is pricing. For the amount of work, I think reasonable quotes for a basic SFR is $700-800+ depending on market area. Understandably so, appraisers are not sharing their pricing but I think that is a mistake. We have a tremendous opportunity to restructure pricing/compensation but that doesn't seem to be happening. Compared to when I first started 25+ years ago, fees being paid now are despicably low for the ever increasing amount of work required...
Anyway, sorry for the highjack... End Rant...

I think I am of at least average intelligence, maybe a little more since they wanted to advance me a grade in grammar school. At any rate, I have come to the conclusion the only way I can get ready for UAD 3.6 is turn down all complex ime consuming assignments while I work on getting ready. I am telling clients that also. I need time to prepare and lots of it. I cannot maintain a normal work flow and get ready, I just can't. The bureaucrats have created this mess and I dont like it one bit. More and more work and the fee gouging AMC's have turned this into an undesirable profession. I am going to do my best to master the UAD 3.6 but I am not going to do them for peanuts.