Feb 4th GSE requirements

[Mile High Trout]

Hmmmmmmm...... Isn't the 1004MC addendum acceptable? After all, Fannie Mae did name it the Market Condition Addendum.

Exactly. I guess get out the windows snipping tool. Take a snip of your own MC, and draw a red arrow to the relevant data entry slot?

It's impossible to adequately describe to those outside of the appraisal and lending industry, how severe the incompetence and mis management has been on all fronts.

Next up; stips for not talking about broadband access, counting windows and expressing interior spacial volume, forgetting a door sink or toilet in your unnecessarily complex sketch, failing to check a box which will result in five additional form pages which suddenly appear. And greatest of all; Not understanding your scope of work until after you start filling out the new interactive form.

 

[djd09]

my issue with adjustments is no matter what number you pick...the bank will say you are too high and the borrower will say it is too low or visa versa depending on the winds

anyways, if you have a property that the estimated value doesn't fall within the unadjusted sales price range, i wouldn't use a fannie form

 

[Mile High Trout]

I tried it today. It's easy and I really like it. I did two different reports with it. One with lots of comps. One with very few. You have to play with it, but in the end it really worked well. I had been doing my own Excel worksheet regression analysis pairing days since sale to the effective date and purchase price to come up with a per day since sale adjustment. Teeba was much easier. For $20/month count me in.

Or you could just pick six carefully selected comparables from a comprehensive narrowly defined well researched data set.

And let net/gross adjustment indicators and basic logic show you in the grid what legitimate market reaction for feature differences is and apply that.

It's official. Tech companies have bamboozled more than less gse residential appraisers to believe they are mass data aggregators working at the county assessors office.

Twice the work, half the pay.

 

[Mile High Trout]

my issue with adjustments is no matter what number you pick...the bank will say you are too high and the borrower will say it is too low or visa versa depending on the winds

anyways, if you have a property that the estimated value doesn't fall within the unadjusted sales price range, i wouldn't use a fannie form

I've got a meme for that.

 

[djd09]

got a meme

yeah me too...

 

[Mile High Trout]

yeah me too...

Not creative enough. Too crude. Step into the 21st century come on.

 

[NJ Valuator]

I am finding that these non linear adjustments are inflating values. By the time I made adjustments the adjusted sale price range was $50,000 over the sales price.

 

[shrubberyvaluation]

I am finding that these non linear adjustments are inflating values. By the time I made adjustments the adjusted sale price range was $50,000 over the sales price.

Im doing market condition adjustments no different than before. I don't just throw garbage into a garbage output program.

 

[NJ Valuator]

Im doing market condition adjustments no different than before. I don't just throw garbage into a garbage output program.

how are you doing market adjustments?

 

[NJ Valuator]

So every appraisal that we completed prior to Feb 4th, when nonlinear time adjustments were not made no longer have credibility?