GSE Waiver & Data Collection Data

[shrubberyvaluation]

They were one of 10 or so vendors in the pilot we ran for 7+ years, but that pilot is over now. They are currently an approved PDC vendor along with 66 other vendors.

I'm just shocked that the most experienced and profitable appraisers were doing hybrids of duplexes for Clear Capital for $25 for two values (two appraisals). So $12.50 an appraisal.

Typically the most experienced and knowledgeable appraisers who appreciate the efficiency and profitability of hybrid appraisal assignments....I believe Lyle Radke or someone from Fannie Mae said this. I guess I'm just not efficient enough to slam out USPAP compliant appraisal reports for $12.50 a piece. I guess those that can must be making big bucks. Knock those out in 1 minute (rubber stamp signature) and maybe you can make money. Is this what FNMA is advocating by partnering with them?

I'd love to meet one of these elite appraisers making all of this money, laying on the beech applying their signature to tens of thousands of reports, maybe they can even hire someone to attach their signature for them to whatever Clear Capital gives them to sign, because there is no way an appraiser is doing appraisals for $12.50 a piece, having competency in a dozen states or more.

Is FNMA going to partner with Sam Bankman-Fried next? Maybe you can partner with Jordan Belfort.

 

[Justinjla]

I'm just shocked that the most experienced and profitable appraisers were doing hybrids of duplexes for Clear Capital for $25 for two values (two appraisals). So $12.50 an appraisal.

Typically the most experienced and knowledgeable appraisers who appreciate the efficiency and profitability of hybrid appraisal assignments....I believe Lyle Radke or someone from Fannie Mae said this. I guess I'm just not efficient enough to slam out USPAP compliant appraisal reports for $12.50 a piece. I guess those that can must be making big bucks. Knock those out in 1 minute (rubber stamp signature) and maybe you can make money. Is this what FNMA is advocating by partnering with them?

I'd love to meet one of these elite appraisers making all of this money, laying on the beech applying their signature to tens of thousands of reports, maybe they can even hire someone to attach their signature for them to whatever Clear Capital gives them to sign, because there is no way an appraiser is doing appraisals for $12.50 a piece, having competency in a dozen states or more.

I've never heard of an appraiser doing a 1004/1073 hybrid appraisal for anywhere close to that. I don't believe it to be true at all.

 

[shrubberyvaluation]

I've never heard of an appraiser doing a 1004/1073 hybrid appraisal for anywhere close to that. I don't believe it to be true at all.

It has been awhile but I thought I saw the breakdown of the fee when I saw the appraisal reports. There actually was two hybrids done, both for duplexes, both with 2 values, as-is and as-repaired, both $25 to the appraiser for 2 values. The PDC used some of the same photos for both of them for a couple of photos (they were cropped so it does appear to not just be a mistake). Think the appraiser that signed these two reports was licensed in about 8 states, I googled their name and if it is the same person it appears they passed away about a year later.

Now given this was not a 1004/1073, but it is a company partnered with FNMA.

Think It's Okay to Do Bifurcated Hybrids? Georgia Fines Hybrid Appraiser!

So, do you think it's ok to do bifurcated hybrids? On January 31, 2018, what appeared to be egregiously deficient Clear Capital “Clear Value” bifurcated

appraisersblogs.com

 

[Justinjla]

It has been awhile but I thought I saw the breakdown of the fee when I saw the appraisal reports. There actually was two hybrids done, both for duplexes, both with 2 values, as-is and as-repaired, both $25 to the appraiser for 2 values. The PDC used some of the same photos for both of them for a couple of photos (they were cropped so it does appear to not just be a mistake). Think the appraiser that signed these two reports was licensed in about 8 states, I googled their name and if it is the same person it appears they passed away about a year later.

Now given this was not a 1004/1073, but it is a company partnered with FNMA.

Think It's Okay to Do Bifurcated Hybrids? Georgia Fines Hybrid Appraiser!

So, do you think it's ok to do bifurcated hybrids? On January 31, 2018, what appeared to be egregiously deficient Clear Capital “Clear Value” bifurcated

appraisersblogs.com

Hybrid valuations and property data collections of various scopes have been used for decades in the loan servicing space. What I'm talking about is for front end origination purposes using a GSE-aligned Uniform Property Dataset for the property data collection and a 1004/1073 hybrid appraisal.

 

[DWiley]

I keep saying that people are conflating GSE hybrids with the proprietary hybrids (that have been around for a long time) that have a very different SOW, different requirements for data collection, and different reports

There actually was two hybrids done, both for duplexes...

That is clue number 1 that it was NOT for a GSE loan.

 

[glenn walker]

I can see $25 for one but that's kinda low for two. Lmao

 

[Joe Flacco]

Shrubbery is confused and doesn't seem to know the difference but CGinMin is a reliable source of information for this.

 

[Joe Flacco]

I heard from someone that BOA pays $190 minus appraisalport fee for desktops. I would assume that the appraisal part of a hybrid is in that range without an AMC involved. Probably $100-$150 with an AMC involved.

 

[Mejappz]

Due date 24 hrs.

 

[Joe Flacco]

That's crazy