GSE Waiver & Data Collection Data

[Zoe]

I can get my sarcasm to a whole new level. ...............

I know who I am dealing with. Do you?

 

[Joe Flacco]

If agents are doing PDC's. How many do you think are using runners for these inspections? I know agents that have others do almost every task except collecting the check. I almost said "hanging the sign." but I know some have runners doing that for them.

They are not real agents. Nobody actually selling houses are doing those. Its the same group doing bpos.

 

[Non Sequitur]

Look at that, right on cue.

https://appraisersforum.com/forums/threads/velox-valuation-again.239878

Yep. And there are still people in this thread who think AMC/national firm staff positions are what they are advertised to be.

 

[Zoe]

I'll do double post here. Danny informed me that gses cannot lobby for something like separation of fees on truth in lending disclosures.

I like Danny. I just don't like commingling of fees for public trust.

 

[Zoe]

 

[J Grant]

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.

?? What is considered an "error" in a traditional appraisal and since the appraiser completes a hybrid appraisal how can there be a difference in error rate of any consequence between a hybrid and traditional appraisal? What kind of errors are they...that supposedly impact loan risk?

Unless it is because the traditional appraisals now are mainly done on hard-to-value problem children or unique/very high-end properties - which is 90% of my work now - even if the house is in a standard community, it often has something wrong with it or is an over improvement etc.

The appraiser chooses the condition rating in a hybrid -yet does not enter the property ...why then, is there a 200% higher condition rating than in a traditional report vs a hybrid, and is this a good or bad thing?

It is difficult to trust the published FF studies since we do not see the appraisals. The same pool of appraisers works in an area, how can they, according to the study, be somehow magically more competent in a hybrid yet less competent in a "traditional appraisal?

 

[chad hampton]

Sure. A guy that ran an AMC and spent years being a paid advocate for revaa is now completely unbiased with no agenda.

Sounds a lot like trust the science

There’s a reason I know what the GSE‘s opinion will be on matters before they do. It’s been very predictable for much of the last decade.

 

[DWiley]

Sure. A guy that ran an AMC and spent years being a paid advocate for revaa is now completely unbiased.

Sounds a lot like trust the science

You are entitled to or view, but just so the facts are straight: (1) I never ran an AMC. I worked at an AMC. I went there primarily to train appraisers on proper methods and techniques. (2) I was that AMC's REVAA rep for a cycle, but there was no pay for that. In fact, companies have to pay to be part of REVAA.

Peace

 

[Zoe]

You are entitled to or view, but just so the facts are straight: (1) I never ran an AMC. I worked at an AMC. I went there primarily to train appraisers on proper methods and techniques. (2) I was that AMC's REVAA rep for a cycle, but there was no pay for that. In fact, companies have to pay to be part of REVAA.

Peace

You could help I think by communicating with independent fee appraisers and all licensed appraisers.

When I say you, I don't mean you. I mean a gse.

I understand gses are not God,

Yet they are given much liberty in risk management when the taxpayer and independent LICENSED appraiser has little voice.

 

[chad hampton]

where did your AMC get all that money to join Reva from? Where did all the money for expenses come from?

Not much money left over to keep this a viable profession when you have to spend a fortune to join a lobbying group and fly reps all around the country for conferences every month. Every time taken from working appraisers.