Corelogic Just Acquired Alamode

[ucbruin]

Lefty, Lefty, Lefty....some upstart who doesn't take abuse from the big boys like a good newbie. Then if they can manage to run you off, the same bunch will decry why no one will join the forum or stay hooked up. Then the same bunch of ne'er-do-wells will wait for the next poor slob to fall in their clutches so they can ridicule them and feel superior... You're reading between the lines, and they don't like that much as it may force them to examine their situation closer.

At least 2 "ne'er-do-wells"...
AF members since Nov. 2006 and Jan. 2008....

 

[EddieB]

I would like to pose a question if I may. For those that are not alarmed with Corelogic’s buy up.... What are the positives for the appraiser that I am missing?

Honest question

 

[George Hatch]

At least 2 "ne'er-do-wells"...
AF members since Nov. 2006 and Jan. 2008....

I just went back and re-read Lefty's posting history in this thread, and I don't think there's been any unequal or disproportionate responses to the fighting he/she initiated.

We get what we give.

 

[djd09]

The bias on this forum never ends. I know it well.

 

[George Hatch]

I would like to pose a question if I may. For those that are not alarmed with Corelogic’s buy up.... What are the positives for the appraiser that I am missing?

Honest question

I'm not code-savvy so I don't know anything about the technical aspects of the situation, but it's possible that when the same company owns both the vendor and user interfaces they can streamline both to work more readily with each other and without having to accomodate other applications. I dunno if the users would actually see any of that, though.

Business wise it looks like a negative if for no other reason than an AMC can dictate which software they're using; so if you want to work with a Corelogic AMC you have to buy and use one of Corelogic's formsware vendors.

It's becoming a company town.

 

[George Hatch]

The bias on this forum never ends. I know it well.

You've never gotten anything worse than you've slung, either. Almost none of us have.

 

[ucbruin]

This profession was supposed to end in the 1970's according to my mentor.

This profession was definitely going to end when AMCs took over.

No doubt the profession was going to end when UAD came about.

Last year when it was announced that some appraisals wouldn't be needed because of appraisal waivers the world had almost come to a stop.

The world HAS to end when the threshold is raised to $400,000 and the commercial threshold is raised to $500,000.

Now that FA owns ACI and with alamode being purchased by Corelogic we might only have days until we are headed to the soup lines.

I am going to guess that alamode has about 30,000 appraisers using their software, maybe more. At an average of $500 for each appraiser that is revenue of $15,000,000 per year. We don't know what Corelogic paid for alamode but it was a substantial number. Would they make a substantial investment so they could eliminate appraisers? That would be a dumb idea. They are in the data business and do very well at it to the tune of over $1,000,000,000 last year. That is what they do.

In order for them to have data they need appraisers to keep feeding the beast which means appraisal jobs are secure. We all know the MLS is many times wrong and we all know that public records are many times wrong.

What is amazing is that for over 30 years the appraisal industry or lending work was going to end and few are doing anything about it and most are taking the easy way out by not enhancing their abilities or knowledge but by further dumbing down their product.

In the last ten years there have been cries over the industry ending or changing dramatically yet the majority of appraisers have not tried to get into other aspects of the business or to learn how to compete in other aspects of the business. With the sky is falling mentality one would think the number of people pursuing a designation would be higher than ever but it isn't.

Will business change? Sure, it most likely will but I don't see the 1004 being eliminated any time soon. There will be less need for the 1004 but it will survive. The addition of these new products will be sorted out by supply and demand. The $65 desktop won't last and supply and demand will most likely push that fee higher.

"This profession was definitely going to end when AMCs took over.

No doubt the profession was going to end when UAD came about.

Last year when it was announced that some appraisals wouldn't be needed because of appraisal waivers the world had almost come to a stop.

The world HAS to end when the threshold is raised to $400,000 and the commercial threshold is raised to $500,000.

Now that FA owns ACI and with alamode being purchased by Corelogic we might only have days until we are headed to the soup lines."

Overall, on this thread, I do agree more than disagree with your POV....

But I do find your above statements curious...

When I 1st signed up on the AF one of our first discussions had something to do about AMCs....
I took the position that appraisers can earn a living working with AMCs...
You took the position that AMCs were a major reason(s) several good appraisers that you knew (I don't recall if they were your personal friends or just in your circle of appraiser aquaintances) were forced out the business...

My how things have changed during the last 4 years....

 

[ucbruin]

I just went back and re-read Lefty's posting history in this thread, and I don't think there's been any unequal or disproportionate responses to the fighting he/she initiated.

We get what we give.

I was responding to TS's post....

 

[djd09]

You've never gotten anything worse than you've slung, either.

wrong. and both hands are tied behind my back. enough said i may get 2 demerits.

 

[Rick Stillman]

Most of these reports have to go through some portal to reach the client. Corelogic now seems to be the gatekeeper. Will they play nice?

Do we need Appraisalport or Mercury?

Well over 95% of my business in transacted without using one of those portals. Hell no, we don't need them. Not one bit. Not for one nano-second.

Portals to upload reports are a commodity product. Any AMC can buy one already pre-made and ready to go. And they work well.

Back to the subject of software. Can we call it what it is? It's filling in FORMS people - with a word processor - and a few slots to import pictures! It does a few fancier things, like verify addresses to USPS standards, and inputs maps created by someone else. NO BIG DEAL.

On a scale of 1 to 10, the complexity of this software might approach a three - at full power, if you were using most of the features.

It's embarrassing that we pride ourselves at being able to analyze the market, but can't figure out how to fend for ourselves by creating such SIMPLE software. My apologies to Dave Biggers for calling his creation ... wait for it ... simple. But it is. So. Very. Simple.