Better Hit That Number!

[djd09]

N.Y. Fed survey finds Americans bracing for mortgage rates as high as 10%​

 

[djd09]

you would have figured some 15th st shill would have copy and pasted some worthless USPAP standard by now...

 

[djd09]

Where Is "Growth" Coming From? Fed Says Banks Tighten Credit Standards While Loan Demand Drops Further​

For all CRE loan categories, banks reported having tightened all queried lending policies, including the spread of loan rates over the cost of funds, maximum loan sizes, loan-to-value ratios, debt service coverage ratios, and interest-only payment periods.

fasten your seat belts...

 

[Non Sequitur]

Where Is "Growth" Coming From? Fed Says Banks Tighten Credit Standards While Loan Demand Drops Further​

For all CRE loan categories, banks reported having tightened all queried lending policies, including the spread of loan rates over the cost of funds, maximum loan sizes, loan-to-value ratios, debt service coverage ratios, and interest-only payment periods.

fasten your seat belts...

IMO stagflation has started. But a game changer could be Freddie getting into the second mortgage market. If that happens appraisers could see a boom similar to Covid refinancing.

Federal Register :: Request Access

 

[djd09]

IMO stagflation has started. But a game changer could be Freddie getting into the second mortgage market. If that happens appraisers could see a boom similar to Covid refinancing.

Federal Register :: Request Access

yeah sure...the refi boom...and don't forget about ACE...ask DW

 

[Carnivore]

Here is a new twist

Restorative Competitive Value

https://norcal-AI.org/wp-content/uploads/2023/05/PP-Restorative-Competitive-Value-D.-Potts.pdf

This is even worse

https://appraisersblogs.com/fannie-freddie-implementing-AI-appraisal-photo-recognition-reviews/

 

[Mejappz]

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.

They have lost their mind.

https://appraisersblogs.com/fannie-freddie-implementing-AI-appraisal-photo-recognition-reviews/

 

[LesPaul59]

The sky is falling.

 

[djd09]

The sky is falling.

see...all the 15th st shills aren't gone yet

 

[jay trotta]

Here is a new twist

Restorative Competitive Value

https://norcal-AI.org/wp-content/uploads/2023/05/PP-Restorative-Competitive-Value-D.-Potts.pdf

This is even worse

Fannie & Freddie's AI Appraisal Photo Recognition - Appraisers Blogs

FNMA & Freddie plan to implement photo recognition AI to analyze appraisal photos & extract 100+ data points related to quality & condition.

appraisersblogs.com

A colleague recently shared an important heads up regarding Fannie Mae and Freddie Mac’s plans to implement photo recognition AI to analyze appraisal photos. This technology can scan a single photo and extract over 100 data points related to quality, condition, and repairs. For example, it can identify flooring types, appliance models, and even assess light levels in a room.

Later this year, the GSEs plan to run all appraisal reports through this AI and cross-check the appraiser’s stated quality and condition ratings. If the AI’s analysis differs significantly from the appraiser’s, it will automatically generate a complaint letter to the appraiser’s state licensing board regarding a potential USPAP violation. While many of these letters in the past have been frivolous, the detailed support from the AI analysis will make complaints much more serious.

Better brush up on FNMA’s definitions, folks. And just when you thought it couldn’t get any crazier, borrower inspections are on the horizon too. Brace yourselves!