Hybrid

[timd354]

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%.

I remember looking at some similar systems somewhere - I cannot remember if they were from Arkansas or somewhere else...saw all kinds of crazy stuff including one that something on the order of 25 or 30 different quality grades

 

[timd354]

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.

Yep, Fannie like every other large organization or large group of people had some individuals who did not act right at times, but so what, that does not mean that the UAD or CU are biased or are somehow evil.

Again...Can you specifically list the ways in which the UAD is specifically biased or has caused you or any other appraiser to change his or her value opinion or to alter the results of the appraisal in any manner from reporting the results of the same appraisal in a non-UAD format on a 1004?....You are undoubtedly not going to provide a truthful answer to my inquiry because a truthful response will not support your abject hatred of Fannie Mae nor any of your conspiracy theories. Thus, you will continue to deflect by pushing more of your conspiracy theories.

 

[timd354]

You better watch what you say.

Why is that? Is that some sort of threat?

 

[djd09]

Why is that? Is that some sort of threat?

You cannot even follow forum rules, enough said.

 

[djd09]

some individuals who did not act right at times,

Like the CEO sleeping with the chief counsel of a large bank. baised. Is that looney conspiracy talk too. you are a joke

 

[djd09]

go cuddle up with your CRN buddy Joanie.

 

[djd09]

distract, deceive, distort, deflect, is the name of your game.

 

[Terrel L. Shields]

My problem with the hybrid is simple. The effort to shorten any process reduces the reliability and support for a product. War and Peace wasn't written in a day. Measure twice cut once. Or, Bat Masterson said to win a gun fight, " Take your time and don't miss." It served him well when a drunk soldier shot him in the flank knocking him to the floor. He calmly leveled his pistol and shot the man dead thru the heart. Bat was treated by running a silk hanky soaked in whiskey through the wound and quickly taken away by wagon before the soldiers buddies found out.

Errors will be made by hurrying. It is a given. No amount of caveats will save you. No clever word smithing will stop the pain. For what fee? $65? $80? $125? If I get sanctioned I would hope I got at least a reasonable fee. Yes, we can all "do" a compliant report. But it takes time to "not miss." And the temptation is to slop thru as fast as possible. And those who say all you need to do is charge appropriately... knows good and well the only reason a hybrid would suffice is the lender isn't going to rely upon it, it is just a compliance document, and they are not going to pay for quality. They only want fast turn times.

 

[Basically Rectangular]

Thanks for reply Timd makes sense.

I wonder how much time will be inadvertently "lost" with some of these bifurcated...such as inspector takes a close up photo of ext crack and makes a big deal of it in notes, causing appraiser to condition report on inspection/repair when it's just a minor hairline crack/settlement . I know in my own practice if schedule allows when I return from inspection I will jump right on the report. But if bifurcated if inspector does not get me the photos /notes till next day it's now 24 hours behind as I am not going to do much on a report till inspection is done..

This is exactly what is wrong with these stupid assignments. I've done several and I don't think that I will do any more. The issue is that I end up waiting on the inspection report to come through when I could have done the whole thing faster (and felt more confident about it) myself.
I asked about it and was told by the company that if the same person does the inspection and the valuation then the assignment really falls into the pay category of a 1004, which is higher than these terrible products.
So, the reason for the separate inspection/ appraisal assignment is less pay. It makes sense then to increase the turn times on these and deliver poor reports, that is what they are ordering anyway. Might be the best approach to discourage this product.

 

[gregb]

Follow the money. If the AMC is managing two service providers the lender would owe greater fees to the AMC. Not surprised to see in the FTC vs LA case a mention that imortgage received a fee of $465 while the appraiser received $250, with the lender and presumably the borrower paying a total of $715.