Better Hit That Number!

[Non Sequitur]

I thought we were talking about money lost, not money negotiated?

I don't consider what AMCs have done a negotiation.

 

[alebrewer]

I don't consider what AMCs have done a negotiation.

If appraisers accept the fees negotiated with AMCs, then by definition, that is negotiation. Emotions aside, it is what it is.

 

[Non Sequitur]

If appraisers accept the fees negotiated with AMCs, then by definition, that is negotiation. Emotions aside, it is what it is.

Take it or leave it isn't a negotiation. Just like the topic of the OP, an appraiser either walks that walk or walks out the door. FHFA isn't negotiating.

 

[alebrewer]

Take it or leave it isn't a negotiation. Just like the topic of the OP, an appraiser either walks that walk or walks out the door. That's not a negotiation.

I understand what you're saying. I think they're a blight as well. My point is that is untenable ground to say they're stealing when appraisers agree to the fees...

 

[Non Sequitur]

I understand what you're saying. I think they're a blight as well. My point is that is untenable ground to say they're stealing when appraisers agree to the fees...

My point is AMCs have become mob bosses (and our direct competition with staff appraisers). Yeah, I don't have to agree to give 1/2 of my taco stand sales to Class Valuation but will I have a business in the morning if I don't?

 

[sputnam]

I understand what you're saying. I think they're a blight as well. My point is that is untenable ground to say they're stealing when appraisers agree to the fees...

It's definitely not stealing. It's stupidity on the part of appraisers who continue to think that success as as an appraiser is measured by who submits the most appraisal reports. It's not. It's measure by how much money you put in your pocket. On the part of the AMC, it makes sense. Lowering costs is the surest way to increase profits.

 

[Non Sequitur]

Getting back to the OP. Per the source Fannie's AI in the sky can identify 100 data points in the photos. This is important not to appraisers but to the programmers developing the machine learning that will eventually give them enough data and confidence to eventually move forward without appraisers in the field or even behind a desk.

 

[CGinMN]

Can the AI identify what intentionally isn't shown in the photos? Because appraisers can.

 

[Non Sequitur]

Can the AI identify what intentionally isn't shown in the photos? Because appraisers can.

It's identifying data points in photos appraisers submit, so as of now that's a non-issue.

 

[Bill75]

If you have a solid report then what is the problem?

They will put you on the "do not use list" first of all.

This is why I vet each report before accepting them. Every report nowadays has an issue and I find it pretty quick. If there's going to be additional work due to said issue, I'm going to charge accordingly or just let the AMC deal with it and their staff appraisers can fall on that sword. A $500 appraisal is not worth the hassle and potential repercussions. They made their bed and will have to lie on it. Soon there will be a shortage of appraisers when the "great repo" happens.