Help me with non-traditional appraisal products

[ucbruin]

I was watching YouTube video and a Ukrainian military person was talking about the new modern warfare....
Drones....
Small, cheap and effective....

Sounds a bit like the new appraisal industry.....
Desktops/hybrids....

 

[Dublin ohio]

What are the non lending proprietary products that many AMCs have?

Too many to list. But the fees are crap. No matter who offers them. More work than they are worth. IMO

 

[Dublin ohio]

Right. I got one a couple of weeks ago. The house was listed for sale for over four million dollars and the “desktop” (a 1004 sans inspection). The fee was $145.00 minus $20.00 for a “tech” fee. Oh, 24 hour turn time.

Ouch!
One I just inspected today since I opted for the full 1004

Please select the form that will be used for this order:
1004/70 (URAR) 1004 (Desktop)/70D (no inspection date needed)
Appraiser Fee: $540.00

 

[ucbruin]

Ouch!
One I just inspected today since I opted for the full 1004

Please select the form that will be used for this order:
1004/70 (URAR) 1004 (Desktop)/70D (no inspection date needed)
Appraiser Fee: $540.00

Was the fee the same for full 1004 and desktop 1004....

 

[Dublin ohio]

Was the fee the same for full 1004 and desktop 1004....

yes

 

[ucbruin]

yes

Sounds like the desktops I was complaining during 2020 & 2021....

Remember during 2020/2021 so many forumites were saying, no matter what, they would never accept a desktop assignment (not saying you were one)....

I knew some would change their minds....

 

[Dublin ohio]

Sounds like the desktops I was complaining during 2020 & 2021....

Remember during 2020/2021 so many forumites were saying, no matter what, they would never accept a desktop assignment (not saying you were one)....

I knew some would change their minds....

The Covid desktops I did were same fee as typical 1004. Never say never

 

[Tom D]

desktop same fee as regular by direct client. those were happy times for me. less work, same fee, no traffic at all, center city looked deserted.
you are still 100% liable for any opinion you give regardless of the fee amount. but how much you work for is determined by your self worth, or lack of self worth.

 

[chad hampton]

I never did a wuhan desk top. I knew something slimy was occurring when gov't agencies typically move at a snails pace, but within a week of the china flu hitting, those snake oil folks at the GSE's rushed out a new way to do appraisals - let the homeowner or whoever else wants to do it be the one to perform the appraisal inspection. Almost like they were salivating at this opportunity.

Thankfully all of my clients thought that was a ridiculous idea and were glad to hear I had no problem still performing appraisal services - such as the appraisal inspection.

They could have said they will do loans based on 2055's, but that wouldn't have furthered their agenda.

 

[ucbruin]

"I never did a wuhan desk top."

"Thankfully all of my clients thought that was a ridiculous idea and were glad to hear I had no problem still performing appraisal services - such as the appraisal inspection."


It was the best of times, it was the worst of times....

Seems like stubborn direct lenders, not willing to change with times....
Will eventually lose market share....