Fannie & Freddie To Update Appraisal Dataset & Forms

[Deleted member 130081]

I am no fan of Fannie, but even I know that they use an exposure draft process and solicit feedback in their process. Besides which, nothing prevents any appraiser from picking up a phone or sending an email. It's not like Fannie's staff works within a Cone of Silence. IMO, Fannie doesn't make the choices they make because they somehow don't know what appraisers want - they make their choices *despite* what the appraisers want. As you would expect of any other banking entity.

The major appraisal orgs all predate The Appraisal Foundation and USPAP. The AGA has been around for at least 20 years that I know of. I've been on this forum for many years and have seen MANY forum participants propose organizing. I've been personally involved with a couple of those efforts myself, and got nothing but criticism for it because everyone wants to be their own ARMY OF ONE.

But hey, if there's anything I can do for your efforts to organize then just let me know. Except lie for you. I won't do that.

I'll tell you exactly what you can do. Stop being a poo poo pants when it comes to the idea of organizing, and start using your smarts and hard work to influence others, as you are skilled in doing. All past efforts have failed. That does not mean future efforts are doomed too. The truth is George, organization is the industries only hope of ever being anything more than a tool for special interests. I know you are smart enough to see what we really are, which is a marketing tool to sell loans to consumers, and again to investors on the back end. Quality and risk assessment have never been the purpose, while selling confidence always has been. Follow the money and look at the actions taken, all of these support this truth. And for the final act and role, the appraiser plays the scapegoat. The truth is, we could do much better at protecting the public than we do. The truth is, until we organize, the special interests will dictate the process, which will mean the outcome of what we are, and what we are not. So no, I don't want you to lie, I want you to spread the truth. That truth is, organization is the only path that makes any bit of sense and if we never get there we have failed, but we should never stop working towards it, for all the right reasons. Wouldn't it be great if when we called ourselves Independent Fee Appraisers, that actually meant what it implies?

There are many appraisal organizations already out there. They are all fragmented from each other, and many are influenced by special interests. Membership for all is low. Appraisers need to first wise up to the idea of organizing. Then they need to actually take the step and join. Then the organizations that are out there now either need to join forces, or dissolve to make way for something better. The resulting successful organization will need to have a critical mass of membership of about 50% or so, and be free of any and all special interests - for us, by us. It's not a pipe dream. There are organizations just like that all over in all sorts of industries - no reinventing the wheel here, heck it might be easier than ever in today's digital/social world. But, it only happens if appraisers first decide they are going to make it happen. So, stop talking poo and start spreading the solution. Every second every person on this forum wastes arguing issues they have no control over is time lost. Best to shift all energy to the first and critical step.

 

[ucbruin]

do you not know how realist works? never mind, we know the answer based on your questions. here is another free lesson. realist reports ALL sales that are recorded.

I've never used realist....
Looks like Banker and Tradesman....

So what makes you believe other appraisers aren't using MLS and realist and/or MLS and Banker and Tradesman????

You must only use MLS for listing information....

 

[Mr Rex]

so you don't know how to search for sales that are not in the MLS? greg already gave you one data source.



you did read what you quoted, right? it starts with "may" and does not say "only". appraisers nationwide use realist, just as greg posted earlier, so your peers are well aware of how to find non-MLS sales.

try reading the form, then report back to us all and tell us where it states to only use MLS data. we will all be patiently waiting.here, i will make it easier for you to do.

View attachment 36075

So where does it say all sales?

 

[TRESinc]

So where does it say all sales?

it doesn't nor does it need to. if you were to only use MLS sales it would say "MLS sales in the neighborhood", not sales in the neighborhood. it's a pretty basic concept to understand.

 

[ucbruin]

it doesn't nor does it need to. if you were to only use MLS sales it would say "MLS sales in the neighborhood", not sales in the neighborhood. it's a pretty basic concept to understand.

 

[George Hatch]

I'll tell you exactly what you can do. Stop being a poo poo pants when it comes to the idea of organizing, and start using your smarts and hard work to influence others, as you are skilled in doing. All past efforts have failed. That does not mean future efforts are doomed too. The truth is George, organization is the industries only hope of ever being anything more than a tool for special interests. I know you are smart enough to see what we really are, which is a marketing tool to sell loans to consumers, and again to investors on the back end. Quality and risk assessment have never been the purpose, while selling confidence always has been. Follow the money and look at the actions taken, all of these support this truth. And for the final act and role, the appraiser plays the scapegoat. The truth is, we could do much better at protecting the public than we do. The truth is, until we organize, the special interests will dictate the process, which will mean the outcome of what we are, and what we are not. So no, I don't want you to lie, I want you to spread the truth. That truth is, organization is the only path that makes any bit of sense and if we never get there we have failed, but we should never stop working towards it, for all the right reasons. Wouldn't it be great if when we called ourselves Independent Fee Appraisers, that actually meant what it implies?

There are many appraisal organizations already out there. They are all fragmented from each other, and many are influenced by special interests. Membership for all is low. Appraisers need to first wise up to the idea of organizing. Then they need to actually take the step and join. Then the organizations that are out there now either need to join forces, or dissolve to make way for something better. The resulting successful organization will need to have a critical mass of membership of about 50% or so, and be free of any and all special interests - for us, by us. It's not a pipe dream. There are organizations just like that all over in all sorts of industries - no reinventing the wheel here, heck it might be easier than ever in today's digital/social world. But, it only happens if appraisers first decide they are going to make it happen. So, stop talking poo and start spreading the solution. Every second every person on this forum wastes arguing issues they have no control over is time lost. Best to shift all energy to the first and critical step.

So you're giving us all an either-or choice, huh? We're either for you or against you. Not even the AI ever attempted that.

I encourage you folks to organize if that's what you want to do. I'll reserve the right to hold my own opinions, though.

 

[George Hatch]

do you not know how realist works? never mind, we know the answer based on your questions. here is another free lesson. realist reports ALL sales that are recorded.

Actually, they miss sales and misreport sales in my region. All the datasources do.

The MC analysis is intended to track trends over time. The primary attribute of such an analysis is consistency in how the data is collected and analyzed. Knowing that you can't track sale/list ratios, exposure times or all FSBOs that may have been exposed to the market at any point during these time frames kinda defeats putting ANY number in those fields that isn't based on the same data as appears in the sale prices.

So yeah, the most consistent mode of handling that data will be to use the MLS downloads in at least those areas where the MLS covers the majority of those transactions.

 

[djd09]

Do you smell the smoke. Oh it must be fannie spinning their wheels again.

The real news is their 200 million dollar baby. Spiral staircases, glass exterior, roof top deck. Party on 15th st.

 

[Mr Rex]

so you don't know how to search for sales that are not in the MLS? greg already gave you one data source.



you did read what you quoted, right? it starts with "may" and does not say "only". appraisers nationwide use realist, just as greg posted earlier, so your peers are well aware of how to find non-MLS sales.

try reading the form, then report back to us all and tell us where it states to only use MLS data. we will all be patiently waiting.here, i will make it easier for you to do.

View attachment 36075

So where does it say all sales?

it doesn't nor does it need to. if you were to only use MLS sales it would say "MLS sales in the neighborhood", not sales in the neighborhood. it's a pretty basic concept to understand.

So you have a set of the Marion comic book circa late 1960s early 1970s x ray glasses? Nice.

 

[Deleted member 130081]

So you're giving us all an either-or choice, huh? We're either for you or against you. Not even the AI ever attempted that.

I encourage you folks to organize if that's what you want to do. I'll reserve the right to hold my own opinions, though.

I am not giving you anything. Nor am I taking anything from you. The choice is not my choice, it must be made by each person individually. What I am saying however, is there is only one path that has a reasonable chance of providing a solution to pretty much all that ails this profession. I am also saying, the efforts that are being made now, have zero chance of providing a solution to all that ails us. "Just say no" doesn't work, so I don't know why people keep on pushing the rhetoric. "Write a letter" doesn't work either. Each are neat and idealistic things to say for sure, but have no realistic chance of ever working. Have they worked yet? I sure don't see it, but I've been hearing them said for years. This industry has been, and remains, powerless. There is but one way to gain some power, and it aint by coming on here and complaining, or pulling out the red crayon and writing letters to bought people, or by waving the "Just say no" banners.

Ok George, I guess the appraisal industry can count you out. Thanks for giving it your all. I entirely misjudged you, and I own that. I'll send you a box of depends for Christmas.