Has Anyone Completed A 3.6 Yet

[Non Sequitur]

We're a couple of months out and none of the mobile offerings sync properly so it's pencil and paper or manual reentry of the photos/sketch/data. Per whispers not a single multi has been uploaded, never mind anything even remotely complex beyond a simple SFR because none of the software providers can handle them. And it's the boots on the ground appraiser's fault for not "modernizing."

But the GSEs already have the answer for loan production: 80-90% of loans qualify for something other than a full 3.6 appraisal. See where this is going ladies and gents?

 

[shrubberyvaluation]

We're a couple of months out and none of the mobile offerings sync properly so it's pencil and paper or manual reentry of the photos/sketch/data. Per whispers not a single multi has been uploaded, never mind anything even remotely complex beyond a simple SFR because none of the software providers can handle them. And it's the boots on the ground appraiser's fault for not "modernizing."

But the GSEs already have the answer for loan production: 80-90% of loans qualify for something other than a full 3.6 appraisal. See where this is going ladies and gents?

Make things as onerous as possible to use an appraiser while making it more attractive to use the uber driver instead with an AVM.

 

[chad hampton]

I still think it’s wild that a non-licensed appraiser is permitted to perform unsupervised appraisal services. What a profession.

 

[J Grant]

I still think it’s wild that a non-licensed appraiser is permitted to perform unsupervised appraisal services. What a profession.

The stakeholders have the funds for the best lawyers so they vetted it to come down in the grey area of legal per USPAP - our USPAP had a hole in it wrt defining appraisal services and they drove a truck through it- USPAP dividing line seems to be that if no opinion is rendered during an inspection, it is not part of an appraisal service. However, the PDR form does imo ask for opinions in a couple of areas.

For legal reasons, they call it "data collection" rather than an inspection. A corporate spin word of the highest order for plausible deniability. Like the term friendly fire in the military, or collateral damage.

 

[alebrewer]

USPAP dividing line seems to be that if no opinion is rendered during an inspection, it is not part of an appraisal service.

I was always under the impression that it's only an appraisal service if an appraiser performs the service. Even when rendering opinions of value, it's only an appraisal if an appraiser renders it. Otherwise it's something else, no?

 

[chad hampton]

I was always under the impression that it's only an appraisal service if an appraiser performs the service. Even when rendering opinions of value, it's only an appraisal if an appraiser renders it. Otherwise it's something else, no?

It used to be dependent on the purpose that the service was being done for. Agents were always allowed to go to a property and give a bank the information they wanted, provide provided that information wasn’t going to be used in the development of an appraisal. So that all had to get changed.

In fact, in the case of North Carolina, where the agent was reprimanded, they told the real estate commission that they had no idea what they were doing at the property was going to be sent to an appraiser as that is outside their license level. They had the promise not to do them again.

That was pushing 8 years ago now.

It’s been snake oil and mental gymnastics for a long time now. I’m glad I’m not involved much anymore. It’s a shame they turned this profession into what it’s become. I still chuckle when I hear the phrase “data collection. “.

 

[J Grant]

I was always under the impression that it's only an appraisal service if an appraiser performs the service. Even when rendering opinions of value, it's only an appraisal if an appraiser renders it. Otherwise it's something else, no?

USPAP only applies to appraisers.
USPAP has some weasel language about when an appraisal inspection is part of appraisal service - I am not a lawyer, so I can not give a definitive answer. But there is a reason the GSE's are calling the non-appraisers who go on site a data collection and not an inspection. But I'd bet $ that when those people call to make an appointment, they say it is an inspection. How inane would it sound for X person to call or text and say, hello, I want to come out to the property to do a data collection?

I asked AI - it said 30% or more of RE agents and homeowners believe that the Data collector is an appraiser.

 

[alebrewer]

USPAP only applies to appraisers.

That was my ENTIRE point. Sorry - didn't read the rest of the post.

 

[J Grant]

I was always under the impression that it's only an appraisal service if an appraiser performs the service. Even when rendering opinions of value, it's only an appraisal if an appraiser renders it. Otherwise it's something else, no?

That is why the GSE's do not call a PDR visit an appraisal service. They call it a data collection.

If you take a bullet from friendly fire, are you still dead?
The great American cover-up is alive and well. Look up the Pat Tillman case.

 

[alebrewer]

It used to be dependent on the purpose that the service was being done for.

Wait - are you saying that folks who didn't hold an appraisal credential were ok calling their services an 'appraisal' in NC, so long as their intended use was as an appraisal? Sorry man - not following?