Freddie Mac: Quality & Condition Ratings

[Tom D]

Fannie will give you no issue if your quality and/or condition rating is going with the group thought. CU is based on group thought. They also do not like you changing your rating used on different appraisals that you may do.

 

[Digger88]

Fannie will give you no issue if your quality and/or condition rating is going with the group thought. CU is based on group thought. They do not like you changing your rating used on different appraisals that you may do.

Bingo. In the early stages I received a ding when my C rating changed on the same comp I previously used. My ratings fixed that I explain what I do it works for me

 

[Terrel L. Shields]

 

[Dublin ohio]

In the early stages I received a ding when my C rating changed on the same comp I previously used

Why would you do that to begin with?

 

[Digger88]

I called an older home a C3 then C4 in a later report. Wasn't paying enough attention I guess

 

[Mejappz]

These C/Q ratings are just for the GSEs. They should not be used for making adjustments. They are indeed useless for that in most neighborhoods within the SF Bay Area - or really most of Northern California, per my experience.

I agree, and I recall you mentioned having a separate addendum for these ratings. The reality is that the current C/Q ratings are badly flawed, and there's no fixing them. These ratings exist solely to satisfy the GSE's flawed model, but they should not be used to make adjustments. In my experience, they are useless for that purpose in most neighborhoods except for new construction cookie-cutter neighborhoods.

 

[Surf Cat]

I called an older home a C3 then C4 in a later report. Wasn't paying enough attention I guess

Tier rating from a 1 to a 4 just like that....

 

[ZZGAMAZZ]

It's from Synapse the adjustment data pages that proceed this notes the source

I support Spark but don't use Synapse yet--worried that it might provide a result that I'm not looking for! LOL
Question: Do you reference either Spark and/or Synapse in an appraisal report?

 

[ZZGAMAZZ]

View attachment 95049

Question: Do you include the three modifers in the report, e.g., Q3/Above mid-point?

 

[ZZGAMAZZ]

I agree, and I recall you mentioned having a separate addendum for these ratings. The reality is that the current C/Q ratings are badly flawed, and there's no fixing them. These ratings exist solely to satisfy the GSE's flawed model, but they should not be used to make adjustments. In my experience, they are useless for that purpose in most neighborhoods except for new construction cookie-cutter neighborhoods.

Question: How can they NOT be used as the basis for adjustments if they are the industry standards to define differences, including differences between subject and comps in the SCA?