Hybrid

[DWiley]

I tend to agree with you (my bold) that lenders are using it less as a "review-mechanism"

I definitely have not seen that. If anything, we have seen more use of CU. What I have seen change is the way that it is used. It seems more and more are gaining a better understanding of how to use it properly (i.e. not as a stick to beat appraisers with).

 

[bnmappraisal]

It seems more and more are gaining a better understanding of how to use it properly (i.e. not as a stick to beat appraisers with).

This is good to hear

 

[bnmappraisal]

Thankfully I never had much interaction with it since it rolled out. I had a handful of clients send me some requests because of the CU but not many.

One time does stick out in my mind (it was not long after CU rolled out) where a client had sent a list (it was about 20 properties, and I'm pretty sure was the printout from the CU) asking why some of these weren't used, etc. I basically went back to them and said if they wanted me to consider alternate properties, send an ROV of 3 or 4 properties, but I wasn't going to go through 20 sales

Other than that, any other request pales. I can't remember the last request I received (knock on wood) that came because of a CU report.

 

[timd354]

I definitely have not seen that. If anything, we have seen more use of CU. What I have seen change is the way that it is used. It seems more and more are gaining a better understanding of how to use it properly (i.e. not as a stick to beat appraisers with).

I agree with that assesment...CU is no different than many other changes in that it a period of time for some lenders and underwriters to figure out how to use it correctly.

 

[djd09]

Of course they do not use CU as a review tool as proposed. Prices need to keep inflating, so the bubble bursts, and the bailouts and more take over continues.

They got an excuse for everything. Think about all the money taken from appraisers due to CU and PIW's. Once i was blind, now i can see.

 

[timd354]

Thankfully I never had much interaction with it since it rolled out. I had a handful of clients send me some requests because of the CU but not many.

One time does stick out in my mind (it was not long after CU rolled out) where a client had sent a list (it was about 20 properties, and I'm pretty sure was the printout from the CU) asking why some of these weren't used, etc. I basically went back to them and said if they wanted me to consider alternate properties, send an ROV of 3 or 4 properties, but I wasn't going to go through 20 sales

Other than that, any other request pales. I can't remember the last request I received (knock on wood) that came because of a CU report.

Yes, it is absolutely ludicrous for an underwriter to ask an appraiser to address that many sales. Way back in 2011 or 2012, (before CU rolled out), I put in place a requirement that our UW's could not ask an appraiser to address more than 3 additional sales and had to research any and all sales online to make sure that they were potentially relevant prior to asking an appraiser to consider them.

 

[djd09]

loony conspiracy scandals.

Oh really. I have many many many fannie verified scandals. Keep deflecting. Is the CEO still sleeping with the ex chief of counsel. Look at your bias. Working with Fannie. Always sticking up for them. How can you even be an appraiser with so much bias.

 

[Terrel L. Shields]

BTW, some of rating systems we looked at had as few as 3 condition or quality ratings and some of which had as more than 20

Our assessors used a number system for condition 1-6 and letters A - D for quality. They later called those by numbers too. And the added or subtracted 5 - 20% except A class which was unlimited up side for mansions. Problem was it off over lapped. A B -15% was cheaper than a C+15%.

 

[djd09]

Country Wide use to use a upside down rating system like CU. Nice of you to model CU after a bunch of Crooks.

 

[djd09]

loony conspiracy scandals.

Stripper who thought she was hired for an IT job allegedly forced to have sex with her manager
ADULT entertainer Soleil Bonnin was offered a plum job with a six-figure salary — despite having no IT industry experience.

https://www.news.com.au/finance/bus...r/news-story/dd0be5a4581390872ea57dc7c5b41d21

You better watch what you say. Are you clueless or have so much bias you are blind.