Fannie now has a 3.6 tips sheet.

[Sadie]

I crashed after 10 minutes doing a few questions. My head start screaming no, no, noooo. I think for my look alike city row homes, i could make a very limited template. The problem is that you still have to look at every question, in case something is different. With a real template, you're gonna miss something.

But you can do a light template, you just won't have a button to clone it, but there is a workaround. You would have to open your template, then save it as another file number. I think rural people can't do any template.

its all data collecting and no appraising at this point. At least w/ACI. I don't know about the others.

 

[J Grant]

its all data collecting and no appraising at this point. At least w/ACI. I don't know about the others.

The software providers just provide a form that supports the UAD 3.6 drop-down menu. They don't determine the content - I agree it is heavy on data collecting, and without the ability to add a blank addendum page, it favors less narrative.

I fear the scrutiny of the "data" will be draconian. The more specific data gets crammed into a report, the more anyone can refute or challenge any piece of data. Doesn't matter if they are right, or the piece of data did not materially affect the value. The challenges and ROV from multiple fronts will be exhausting, and the plethora of data, combined with the front-loaded bias statement which is part of an ROV makes a lawsuit more likely than in the past.

It seems designed for data mining, future AI use, and favors the AMCs who can outsource data collection and use software to auto-fill the rest, including comps picked from one of the computer programs touted. Their staff appraiser, juggling multiple assignments, will have a tight deadline to eyeball it and sign.

It would be nice to think the independent appraiser, who devotes time to analysis and hand picks comps, can prevail, but IDK. As more and more of the competent, experienced appraisers retire, drop out, or go to the commercial side, there will be few, if any, left who can review a report or even see what went wrong with a skewed value. The waivers with a value accepted submitted by a loan officer is the competition, it turns out.

 

[Sadie]

The software providers just provide a form that supports the UAD 3.6 drop-down menu. They don't determine the content - I agree it is heavy on data collecting, and without the ability to add a blank addendum page, it favors less narrative.

I fear the scrutiny of the "data" will be draconian. The more specific data gets crammed into a report, the more anyone can refute or challenge any piece of data. Doesn't matter if they are right, or the piece of data did not materially affect the value. The challenges and ROV from multiple fronts will be exhausting, and the plethora of data, combined with the front-loaded bias statement which is part of an ROV makes a lawsuit more likely than in the past.

It seems designed for data mining, future AI use, and favors the AMCs who can outsource data collection and use software to auto-fill the rest, including comps picked from one of the computer programs touted. Their staff appraiser, juggling multiple assignments, will have a tight deadline to eyeball it and sign.

It would be nice to think the independent appraiser, who devotes time to analysis and hand picks comps, can prevail, but IDK. As more and more of the competent, experienced appraisers retire, drop out, or go to the commercial side, there will be few, if any, left who can review a report or even see what went wrong with a skewed value. The waivers with a value accepted submitted by a loan officer is the competition, it turns out.

With ACI, there is no grid, so no way to see how adjustments affect the adjusted values. Just one page of say site, one page of exterior condition. And no net adjustments or adjusted sales price visible on any of the pages. You do not have a clear picture or even a not clear picture of how the comps related to each other, etc. its like they don't realize that they are an APPAISAL software company and not a data collecting company. Hopefully that will change, but right now its ok if all you want to do is describe a property and not arrive at an MVE.

 

[Alsie35]

ACI deserves to go out of business if this is true (and they WILL, shortly after the Abomination hits. First Am will drop them like the unprofitable hot potato they will become.)

Simply put - you CANNOT do an appraisal if you do not have a grid spread out in front of you.

Prove me wrong.