Has Anyone Completed A 3.6 Yet

[Sadie]

You do realize that reporting the wall materials and condition has been part of the URAR for over two decades, right?

View attachment 109734

That is does not require a photo to prove their existence.

 

[TerryRohrer]

That is does not require a photo to prove their existence.

What part of this (from post #456) do you need explained for you?

 

[J Grant]

That is does not require a photo to prove their existence.

I would assume the rationale for a photo in the 3.6 would be to show their condition rather than prove their existence.

 

[HVNY]

My lender clients are starting to get antsy. I keep telling them that I don't have time to help them experiment on 3.6 and will jump on board once they figure it out..

 

[Surf Cat]

My lender clients are starting to get antsy. I keep telling them that I don't have time to help them experiment on 3.6 and will jump on board once they figure it out..

Good, practical answer..... which are probably making your lender clients even more antsy. Appraisers shouldn't be beta testers....

 

[Sadie]

Good, practical answer..... which are probably making your lender clients even more antsy. Appraisers shouldn't be beta testers....

They shouldn't be, but they are going to be beta testing because no way does anyone know how the 3.6 will scale up.

 

[Bobby Bucks]

My lender clients are starting to get antsy. I keep telling them that I don't have time to help them experiment on 3.6 and will jump on board once they figure it out..

I believe the vast majority of appraisers are doing just that. The appraisers I know who don't spend much time in forums or on facebook have certainly said this. The industry parasites which include the Buzz, certain CE and software venders, etc. are still selling fear with a pat on the back from the GSEs, all while pointing the finger of blame at the independent appraiser. 3.6 is a mess and they have no one to blame but themselves.

 

[ilsindaco2628]

How did it go?

I have done 2.5 reports.

First was a nightmare. Admittedly I dove in without taking any classes or seminars. Just how I do things. I learn by doing.
Two calls to alamode support and two to the AMC's 3.6 specialists. My overall thoughts after completing the first was that it was tedious, unnecessary, and for lack of better word ANNOYING.

My second was another single family refi and I flew through it. Made me feel a lot better about it.


Currently on my third... a condo refi... and once again I absolutely hate this thing.

Examples:

Sales comparison approach

The common areas and amenities. Using the current forms, you can copy and paste or quickly type everything. Especially if the comps are in the same development.

Now, the amenities tab brings up a drop down menu with like 20 choices. Then comps 1, 2, and 3 are all in the same development and you have to do the same drop down list for each one. This is just one example but this exists all over the form.

There's a tab for "project name" and you type in the name then there's an unnecessary check box if the comp is in the same development as the subject.


There are just so many unnecessary drop downs, box clicks, and repetition. It just makes report processing time so much longer and for no reason whatsoever... and it is absolutely impossible to get in any kind of groove typing out information.

 

[ilsindaco2628]

If you are developing full UAD 3.6 appraisals for $575, you are part of the problem.

Okay pal.

I'm a licensed appraiser (two years left until I can get certified) and it hasn't been easy getting added to panels and getting work.
So as a young appraiser trying to put food on the table, I sincerely apologize for trying to make a living. Honestly really stupid of me.

 

[ilsindaco2628]

Doing only complex properties and going broke....weird.

Lenders and AMCs paying the same for all properties thinking they are all cookie cutter assignments in pud developments...weird.

Can someone notify them and let them know that things have changed.....everything is complex or value issue appraisals.

Or just go to the darkside and churn and burn them....as long as they meet value it appears nothing ever happens to them. It's when you come in low you get in trouble. Weird.

One of the many frustrating things about AMCs. They ask you to set your fees in the beginning with no area for variation.

Then they send you a $500,000 purchase for a simple cape COD 3 miles from my house. $500.
The same day they will send a $950,000 purchase for a property 90 min drive from my house on 6 acres built in 1809 on the national historical registry. $500.

Then you go to them and say you need additional fee and they come back with "why? what is atypical or complex about this house? what is common for the area and why is this not common?" then they have to go back to the lender to approve the fee... at which time they find a desperate appraiser who will do it for less because they don't have work.