FANNIE bonds with AMCs, over your dead low paid body.

[Zoe]

aren't AMC's just appraisal firms...

Well commingling of fees screwed it all up. It is too confusing to borrowers.

 

[DWiley]

The same access is being granted to software developers to allow screening by appraisers before the appraisal is delivered to an AMC or lender.

The UAD 3.6 compliance API that is available to software companies is not the same thing as access to CU and/or LCA. Not even close.

 

[Zoe]

The UAD 3.6 compliance API that is available to software companies is not the same thing as access to CU and/or LCA. Not even close.

Okay, I know you know geo competency is not USPAP. You know USPAP better than me.

Tell me off the cuff how geographical competency is not important in your own words.

 

[Zoe]

Let me bring you Memphis urban area and I can tell you point blank geographical competency is a must. Will that dog bite? Most definitely.

 

[TerryRohrer]

The UAD 3.6 compliance API that is available to software companies is not the same thing as access to CU and/or LCA. Not even close.

So are the GSEs going to control the AMCs when they begin citing every single metric in the CU as revision requests? Or will that simply be foisted on appraisers as another opportunity to waste time without compensation?

 

[Zoe]

Market value is a very unique value definition. Only value definition that requires H&B use. USPAP don't identify geographical competency.

USPAP requires competency.

 

[Zoe]

So are the GSEs going to control the AMCs when they begin citing every single metric in the CU as revision requests? Or will that simply be foisted on appraisers as another opportunity to waste time without compensation?

Idk. The major lenders own the AMCs and now Fannie and Freddie want to own them too.

I digress. Many lenders engage appraisers directly and don't use an AMC and needed no bailout.

VA needed no bailout.

 

[DWiley]

So are the GSEs going to control the AMCs when they begin citing every single metric in the CU as revision requests? Or will that simply be foisted on appraisers as another opportunity to waste time without compensation?

If you have specific questions about CU and/or its use, you should address them to the entity that offers CU. I am not involved with CU in any way. I was only noting that what is being offered to the software folks is not the same thing.

 

[djd09]

no accesss to ACE...

 

[Zoe]

If you have specific questions about CU and/or its use, you should address them to the entity that offers CU. I am not involved with CU in any way. I was only noting that what is being offered to the software folks is not the same thing.

I know. Hands off. I have no control over commingling of fees on truth in lending disclosures.

I am sorry. Fannie Freddie have no control over separation of fees on truth in lending disclosures to borrowers.