Asked AI ChatGPT if AI was going to Replace Appraisers...here is what it said back.

[glenn walker]

Who engaged the appraiser?

I worked the meltdown. Don't tell me some appraisals were not inflated.

Let HUD engage appraisers.


Why do you have a problem with reinstalling HUD fee panel?

HD wanted out of managing appraisals and the Money Center Banks wanted faster turn times and less paperwork and it worked better as FHA was not good at managing the volume. Remember in normal times outside of a few areas VA loan volume is very low. In my area VA appraisers are like the Maytag Repairman and no longer able to live just off VA.

 

[Zoe]

No maybe 25% to 35%--The Federally insured ones did much better as they never had liar and no doc program loans. But by 2009-2010 even the Federally Insured ones in CALI were in trouble.

That is a flat out lie. 16.8 trillion in bailout to people who were not federally insured? What are you smoking.

 

[Zoe]

I promise you federally insured instiiutions do not want FED's engaging appraisers engaging appraisers on federally insured transactions.

Argue with me if you want. I'm ready.

 

[glenn walker]

That is a flat out lie. 16.8 trillion in bailout to people who were not federally insured? What are you smoking.

I said initially we had less defaults on the Non-GSE type loans but as the meltdowns exceeded speed and volume eventionally by 2009-2010 everything was going down the hill out here. As far as the Cost of the Bailouts it really doesnt matter if its $ One Trillion or a $ Hundred Billion, it was all Digital Dollars anyway and your taxes did not go up to pay for it. But like I said it was a Underwriting-Liar-Loans-and markets who had lost all equilibrium. The appraisals really didnt matter as an appraisal is only good in a up market or ones that are stable like a rock Once a market heads, South all those appraisals are just 45 Page Paper weights.