Hybrid Appraisals

[djd09]

Sure, states can deal with those on a case by case basis. But for an AMC appraiser to be sitting in their home office in south florida and be rubber stamping 50 reports a day from runners all over the country shouldn't be permitted. And the "regulators" can turn a blind eye on it if they want, but that's what's going on right now. It's probably not something that comes up at the breakfast club.

do they really care about geographical knowledge...or comp photos

 

[NC Appraising]

What if you specialize? Like a forester, a specialist in airports and hangars? Mall Valuers? What about folks who value truck terminals or RV parks?

Maybe have two different rules or regs for general and certs?

I know there are gens that specialize...but let's be real here...we all know what's going on here..... We are comparing apples to oranges.

Or only have a temp license?

 

[NC Appraising]

Sure, states can deal with those on a case by case basis. But for an AMC appraiser to be sitting in their home office in south florida and be rubber stamping 50 reports a day from runners all over the country shouldn't be permitted. And the "regulators" can turn a blind eye on it if they want, but that's what's going on right now. It's probably not something that comes up at the breakfast club.

But Chad, they are competent becuse they drove through the state and now have national MLS.

OR I used to live there 20 years ago...my mom lives there.....

 

[djd09]

the states are more worried about racial bias...then some californian blowing the appraisals out from a thousand miles away

 

[TC]

I heard that on October 15 hybrid appraisals will be allowed on applicants with 620 credit score. So, in two years the default rate should go up.

 

[Justinjla]

I heard that on October 15 hybrid appraisals will be allowed on applicants with 620 credit score. So, in two years the default rate should go up.

Our hybrid offering is not based on credit characteristics like credit score. Our Selling Guide spells out the hybrid policy clearly. https://selling-guide.fanniemae.com/sel/b4-1.2-03/hybrid-appraisals

 

[Mike Ault]

Our hybrid offering is not based on credit characteristics like credit score. Our Selling Guide spells out the hybrid policy clearly. https://selling-guide.fanniemae.com/sel/b4-1.2-03/hybrid-appraisals

Do you have any expectation that the appraisers completing these hybrid assignments will have geographic competence? I'm talking with a potential borrower right now who went with a lender out of Chicago for her home improvement loan and she is upset that they are trying to force her into using their "approved appraiser" who resides in Chicago. Are the GSE's planning to accept assignments completed by appraisers several states away?

 

[TC]

Our hybrid offering is not based on credit characteristics like credit score. Our Selling Guide spells out the hybrid policy clearly. https://selling-guide.fanniemae.com/sel/b4-1.2-03/hybrid-appraisals

I got this straight from a recruiter from a Data Collection outfit.

 

[DWiley]

I got this straight from a recruiter from a Data Collection outfit.

Yeah. I am sure that recruiter knows more about it than Justin. NOT

 

[TC]

Yeah. I am sure that recruiter knows more about it than Justin. NOT

Do you mean someone from an AMC didn't tell the truth? I don't believe it.