Hybrid

[Joe Flacco]

There is no GSE guideline limiting comparable sales to 1 mile and there never was going back to at least 2002 (which is the oldest version of the Fannie Selling Guide available on their web site), so please try again.

Again, I am making a simple request....please cite the specific GSE guideline(s) that would cause an appraiser to select comparable sales in a non-USPAP compliant manner.

lol OMG. Okay fine. I don't know how many times I have to say that I have no issues with the GSE guidelines.

Then why do so many appraisal reports state "sales within one mile are considered". Does that statement indicate that the location attributes were properly identified or considered as required by SR 1-2(e)?

 

[Mr Rex]

It indicates a poorly trained appraiser.

 

[Deleted member 130081]

(my bold)

I think everyone, whether they are in favor, neutral, or against the hybrid process, has consistently argued the bolded part. The difference I may have with some/others is this: I advocate that the appraiser charge an appropriate rate for their time/efforts/work product/liability. But if their rate, after all those things are factored in, is lower than mine, then all things being equal, they will be more competitive.

These products will succeed or fail based on appraiser participation. If appraisers, as you suggest, come to the realization that they need to charge more than what is being offered, and if they hold that line, then they'll get more or this product will disappear from the appraiser-option list.

Not sure if you realized this or not Denis, but you have misquoted me. The tract you reference was posted by George Hatch, not me. I did quote him in my post, and you are quoting my post that quotes him. I haven't complained, directly anyways, about fees in a very long time. What I have been harping on, is appraisers ought to organize, so they could better control the process, which would have an effect on our bottom lines, among other benefits of organization. Talk to George if you want to comment about fighting fees.

 

[Joe Flacco]

While that sounds like a nice theory, you have no idea whether or not that is actually true and no data or credible evidence supporting that assertion.

So is there data or credible evidence supporting the contrary? It should just be ignored?

 

[George Hatch]

I didn't say there is a USPAP or user deficiency. I am saying AMC's and some of the chiefs are promoting the unprofessional practice by making the engagement decision based on fee. Then they just call it supply and demand.

With respect, the term your use of the term making the engagement decision based on fee implies that's the only criteria. But that's not exactly true, is it? Wouldn't it be more accurate to say that the lenders are choosing which of the nominally proficient appraisers they have to choose from who is offering to do it for the lowest fee ?

And sure, the lenders are responsible for the decisions they make; and by extension the chief appraisers are responsible for the appraisal policies they develop and promulgate. And likewise, the GSEs are also responsible for the decisions THEY make.

I dunno for sure if it's true, but they say you can't cheat an honest man.

 

[Deleted member 130081]

I am aging out of the profession ( though might continue another 5 years, +- depends) , not a great tech person and not rich but would contribute some $ and time, all appraisers have at least some $...need a core group to meet about it and brainstorm, perhaps partner up with an entrepreneurial person who is computer whiz ....

LOL - Can't even get appraisers to organize for the obvious reasons - not sure getting them to organize for something like this is possible, but I appreciate your willingness.

 

[Mr Rex]

There are some on this very post that admit to being perfectly OK to do desktops for peanuts but think the idea of the hybrid is the end of the world. Both erode fees and diminish the need for the "Full Appraisal". Go figger

 

[George Hatch]

I have no idea what this means.

It means nobody owes us anything. Our well being is immaterial to our users. Same as any other business.

 

[chad hampton]

You only do full URAR's?

I think it would make good business sense to offer a couple other products. If a borrower is 5 months late on their mtg and the bank needs to get an idea on what they have on their hands, a 2055 is a good product. Better than using zillow or an AVM. You aren't getting into the house, so you do the best you can. But it is a business decision. For non-lending, I don't see why you'd have a problem with desktops or 2055s. And I don't view the fee as peanuts. Some AMC send peanut fees, but you can take a pass on them.

 

[George Hatch]

LOL - Can't even get appraisers to organize for the obvious reasons - not sure getting them to organize for something like this is possible, but I appreciate your willingness.

You could join one of the existing professional orgs and work on their advocacy from within. Or you can join with other appraisers to form a new org and do it yourselves. Nobody here is trying to discourage you from doing that.

The fact that you recognize the limitations of the appraisers WRT organizing them is an internal problem on our end, not an external barrier imposed by anyone.

Just because I can see its 100* outside and tell people they might want to put some sunscreen on doesn't amount to an endorsement of the weather or an opposition to the people who are walking around outside in that weather.