GSE Waiver & Data Collection Data

[glenn walker]

At 24 years old i would set up a three person assembly line and knock out ten
a day..while trading stocks and playing video games..hell if a president can run a Nation on auto pen , my digital signature can be used by my two assistants ..lol

 

[NC Appraising]

Waivers are not the problem for us. It's the hybrids.



The GSEs claim they want liquidity. I believe they want the older IFAs out and to retrain a new generation appraisers to work for a few large national firms. Easier to control.

Even my best client that orders directly for traditional appraisals uses two of the largest firms for hybrids.

I have gotten two texts from the new national firms wanting me to join Within the past week. Makes sense as the rules have recently changed....ltv.

aloft was recently purchased by a national home inspection AMC type.

Aloft, Inc. - Business Model

Aloft, Inc. is developing cutting-edge technologies and systems to improve the valuation industry. Learn more about our business model.

www.aloftappraisal.com

New requirements from Fannie Mae and Freddie Mac will soon transform the way the appraisal industry functions. But how to bring 30,000+ appraisers to the new world? With Aloft’s unique combination of "pull" and "push"

Freddie mac
submissions and resubmissions on or after April 7, 2025

We are expanding eligibility for hybrid appraisals as an available appraisal option in the Guide. Hybrid appraisals will no longer be limited to instances when an ACE+ PDR must be upgraded to an appraisal.

 

[Non Sequitur]

It's not an hourly job. Read the description.

$75k base + benefits. Minimum 3 per day quota.

$41k bonus if you do 5 per day.
$63k bonus if you do 6 per day.

3 per day x 5 days x 52 weeks = 780 $75,000 / 780 = $96
5 per day x 5 days x 52 weeks = 1300 $116,000 / 1300 = $89
6 per day x 5 days x 52 weeks = 1560 $138,000 / 1560 = $88

So at $90 + benefits, they are targeting about $120 cost per appraisal.


5-6 appraisals per day to us sounds outrageous, but to normal people looking for a job that don't know anything about real estate or appraisal, it probably sounds very doable.

Again, that's fiction. They are trying to rope in the noobs and desperate appraisers.

 

[djd09]

Due date 24 hrs.
View attachment 98011

View attachment 98012

the real lowballers...

 

[NC Appraising]

The gses just want more of the market share.....

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With more opportunities for refinances, there are several options to get appraisals back faster, as well as make the refinance process easier and cheaper for consumers. Watch 3Points with President...

www.facebook.com

 

[NC Appraising]

So if you are slow from here on out...don't blame waivers.

It's the large national firms that are doing 5 plus hybrids a day.

Email today
My name is xxxx, Director of People Operations at True Footage, the largest residential appraisal company in the US. We are coming to your area and are looking for top appraisers to join our team. We are the owners of Spark and Synapse, the best data analytics and adjustment technology on the market, and provide top appraisers with a list of high paying direct customers.

 

[shrubberyvaluation]

So if you are slow from here on out...don't blame waivers.

It's the large national firms that are doing 5 plus hybrids a day.

Email today
My name is xxxx, Director of People Operations at True Footage, the largest residential appraisal company in the US. We are coming to your area and are looking for top appraisers to join our team. We are the owners of Spark and Synapse, the best data analytics and adjustment technology on the market, and provide top appraisers with a list of high paying direct customers.

How can you do 5 a a day and verify everything. I have trouble sometimes getting information within a couple days from builders and agents.

 

[DWiley]

When you work at the GSEs you can just say stuff. Edit: not trying to be a dick, but often no way to verify what you say and we just have to take it as truth. Meanwhile direct evidence being posted here suggests otherwise.

One thing that amuses me is the number who seem to think that people like me are working with some some pre-ordained outcome in mind. I won't speak for anyone else, but that's just not how I work. As George is so fond of saying, the conclusions are supposed to come as the result of the analysis, not in lieu of the analysis. That is why the process is referred to as "Test and Learn."

Something new is tested and the results are compared to the results from the existing process. Unless the new thing is as good as the old thing, it is not adopted.

I wonder how many saw this article last week.

https://sf.freddiemac.com/articles/...aiser-the-lowdown-on-property-data-collection

Errors regarding condition ratings are 200% higher in traditional appraisal reports as compared to hybrids.
Errors involving not requiring repairs and/or inspections, in accordance with published policy, are 225% higher in traditional reports as compared to hybrids.

That latter is an especially big deal. There are many reasons why a required repair or inspection might not be called out in an appraisal report, but that type of mistake directly impacts loan risk.

 

[shrubberyvaluation]

A Clear Value hybrid is not a GSE form. But it does show what people are willing to sell their signature for. The PDCs are definitely getting done for $50 in some markets, no doubt about it.

Here is how VC-backed appraisal firms view GSE hybridization model. Out-of-state analysts signing reports. These were traditional 1004s, mind you.
View attachment 98013

I realize its a not a GSE form, my point is why partner with a company like this? Its like partnering with Sam Bankman-Friedman and the excuse is this is the legit side of his business, its not like his FTC.

 

[George Hatch]

I wonder how many saw this article last week.

https://sf.freddiemac.com/articles/...aiser-the-lowdown-on-property-data-collection

Errors regarding condition ratings are 200% higher in traditional appraisal reports as compared to hybrids.
Errors involving not requiring repairs and/or inspections, in accordance with published policy, are 225% higher in traditional reports as compared to hybrids.

That latter is an especially big deal. There are many reasons why a required repair or inspection might not be called out in an appraisal report, but that type of mistake directly impacts loan risk.

Wow, those are huge percentages. If true that's shocking. I would never have guessed at that.

Even if the precision of those percentages is inaccurate or subject to challenge, the trend itself is cause for alarm. Regardless of the reason, the untrained can collectors are (allegedly) reporting more conditions issues than the appraisers. Not fewer conditions issues as we would expect per the conventional wisdom. Not fewer observations, not an equal number of observations, but more observations.

Banker asks: "Are you smarter than a can collector?" Ouch.​

Maybe instead of fretting market conditions adjustments the GSEs should start instead with appraisers getting medieval with their quality and conditions ratings and notes. No mercy, no looking the other way for purposes of expedience, no EASY button.

After all, getting the subject's Q/C ratings wrong will have more effect on the outcome via the effect on comp selection than will the combination of adjustment factors to those comparables.