Hybrid Appraisals

[Mike Ault]

I think its safe to say they demonstrate what they really expect by what they do. If there's a disconnect between what they say and what they do then that's on their end.

Besides, if being competent literally means knowing what there is to know about any particular market segment then a local appraiser could never be presumed competent when appraising in any neighborhood for the first time, including their own neighborhood. New subdivision under construction - not competent. Atypical property in a neighborhood they already know - not competent. Etc, etc.

One way to gain competence in those market segments is by doing non-GSE assignments where you don't have to attest to those experience certifications.

 

[Terrel L. Shields]

they do so knowingly.

Ah, the all wise lenders... So, why do they order rural properties just as if they were some new cookie cutter starter home? Why do we see Mansions and complex properties sent out from AMCs for less than $300?

 

[J Grant]

Ah, the all wise lenders... So, why do they order rural properties just as if they were some new cookie cutter starter home? Why do we see Mansions and complex properties sent out from AMCs for less than $300?

Because they are the same scumbag lenders who knowingly packaged toxic loans and engaged in predatory lending until the regs shut it down.

 

[Dublin ohio]

So, why do they order rural properties just as if they were some new cookie cutter starter home?

Some do, some don't. I have one lender owned AMC that screens the property before ordering the appraisal. If they determine it is rural, they add a complexity fee

Why do we see Mansions and complex properties sent out from AMCs for less than $300?

C'mon man, you can't be that naive. The do it because they can and know somebody will accept it.

 

[OSU Beavers]

FNMA
Competence = Licensed Signature + E&O

 

[djd09]

the intended user/quasi client...oh you mean the competition...waive them all i say

 

[frogman]

Talk about clueless when I see appraisers talking about complex and noncomplex orders. If you do work for the GSE’s they are all complex now, have been for about 5 years or so. I think Fannie even has a chart explaining it.

 

[frogman]

You really want to do these things. Here is a sketch done by proxy pics and a sketch done by an appraiser on the same property. I’ll let you decide.

 

[Non Sequitur]

You really want to do these things. Here is a sketch done by proxy pics and a sketch done by an appraiser on the same property. I’ll let you decide.

Proxy is behind, I have an ACE+PDR on my desk with an embedded 3D floor plan.

All of that is fancy-schmancy but it is necessary to evaluate a property for lending risk purposes? But at the end of the day if they would pay appraisers more than lunch money they wouldn't have to send out Uber drivers or Notaries Public.

 

[J Grant]

We should all go on the proxy pics website whenever we have time and try a demo.

Proxy pics is an app tool available to anyone, it appears. Even appraisers !
The proxy plan does not show total SF, the appraiser sketch does in the exhibits from post #1498 - different products, proxy plan scans interior with the app?