GSE Waiver & Data Collection Data

[glenn walker]

Sorry to be the bearer of bad news, but UAD 3.6 is part of the GSE scorecard that FHFA imposes on them, so I think UAD 3.6 is going to happen, with an initial rollout in September of this year.

They have to create changes to keep their job's and the minute they stop games over.

 

[George Hatch]

I just feel like it takes me longer to visualize the property as a whole going through the pictures than just seeing it myself.

I wrote an article several years ago which touched upon that same point as well as a couple other aspects which arise when the appraiser isn't driving in/out of the neighborhood or physically looking at comps. A desktop SOW done to specs will involve the appraiser spending more effort at their desk in order to compensate for what they are missing when they don't do the drive themselves.

That "desktop done to specs" being the operative term. Some of those desktops won't be done to specs, just like some of the conventional 1004s won't be done to specs. Not all appraisers are doing right by their assignments.

 

[ucbruin]

They have to create changes to keep their job's and the minute they stop games over.

DOGE will be coming after the appraisal industry....
Then the AF will be hopping....

 

[Non Sequitur]

People at Fannie and Freddie like their bonuses so it is going to happen unless FHFA changes their goals which is highly doubtful since FHFA just confirmed the at their valuation modernization summit on Feb 28th that are proceeding with the rollout of UAD 3.6 beginning in Sept., 2025, which is the same timeline that they published in 4q24. The rollout will be in phases, with limited lenders using UAD 3.6 beginning next September and all lenders allowed to use it beginning in January 2026. The existing UAD dataset and forms can continue to be used until Nov., 2026 (at the lenders' discretion), at which time, all appraisals will have to submitted using UAD 3.6. The new UAD 3.6 specification has been completed and published, so it is almost certain happen without anymore delays.

Sorry to tell you what you probably don't want to hear, but what I am telling you is just the way it is.

I don't dispute any of that, but.......I'll pm you with a little info I'm basing my "Not worth 1¢ prediction" on.

 

[timd354]

I don't dispute any of that, but.......I'll pm you with a little info I'm basing my "Not worth 1¢ prediction" on.

I saw your pm my friend and maybe it does not happen (only time will tell), but I believe that it will based on what I have been hearing from the people I I know.

 

[Joe Flacco]

I saw your pm my friend and maybe it does not happen (only time will tell), but I believe that it will based on what I have been hearing from the people I I know.

Have you heard any rumors about Fannie, Freddie, and css being merged and being slimmed down to their core function of securitizing mortgages?

 

[timd354]

I believe that the new adminsituation is likely to privatize the GSEs, but I have not yet heard of any concrete plans...it is still early yet and the administration has a lot of other priorities to deal with, but the fact that they just whacked the upper management of the GSEs is a sign that they may be headed that way. If they did an IPO, they would raise a sh*t ton of $

 

[shrubberyvaluation]

I believe that the new adminsituation is likely to privatize the GSEs, but I have not yet heard of any concrete plans...it is still early yet and the administration has a lot of other priorities to deal with, but the fact that they just whacked the upper management of the GSEs is a sign that they may be headed that way. If they did an IPO, they would raise a sh*t ton of $

We have been seeing moves including with FHA. Administration is also against PAVE. Honestly I'm shocked, I was expecting much less.

 

[J Grant]

The difference when an appraiser works from a remote inspection and has only photos and a list of items as "data' - is this. Home buyers are not purchiang a bunch of data with a condition rating. Buyers are purchasing a holistic property and the X factor of it includes how it fits in its neighborhood.

It is like eating a meal in a restaurant, experiencing it, including flavor and atmosphere, and how the service was, compared to sitting at home and getting photos of the meal and a list of ingredients.

There is a reason some folks pay $40 for a meal vs $10 in another venue, when the ingredients might seem superficially similar.

 

[Joe Flacco]

I believe that the new adminsituation is likely to privatize the GSEs, but I have not yet heard of any concrete plans...it is still early yet and the administration has a lot of other priorities to deal with, but the fact that they just whacked the upper management of the GSEs is a sign that they may be headed that way. If they did an IPO, they would raise a sh*t ton of $

That is what they are saying in the media but I don't see how wacking senior management is a sign that they are headed in the direction of privatization.