Hybrid

[J Grant]

Here you are, Mr Rex, whining about my whining !

 

[Mr Rex]

 

[J Grant]

I thought writing comments about a subject on a bulletin board was the reason the bulletin board exists. Mr Rex calls that "whining". Make a "whine" section then just for him, and let everyone else continue to comment and exchange ideas.

 

[Mr Rex]

Fine, complain about potential lost income while spending an inordinate amount of time daily posting and "exchanging ideas".

 

[J Grant]

Some appraisers might want to give up their license and just become "inspectors" ...or would their prior experience as an appraiser disqualify them ?

How much a move to bifurcated impacts anyone's business will depend on how much of the transactions are eligible for that choice or if the lender gets to choose it... and how much effort it will be for lenders to keep lists of inspectors and coordinate them with appointments and then select the appraiser for assignment, make sure the results get to appraisers and how "efficient" (or not ) trying to do that is in practice.

An inspector can easily do one exterior after another, just drive around. But trying to arrange to get inside properties is another matter. and more time consuming.

When one door closes another opens...or find a way to push, pry, or discover a new way to open another door yourself since that saying is ridiculous.

 

[chad hampton]

I don't know any appraisers that are doing these. Every appraiser I deal with in appraisal groups have no interest in them and will be actively fighting them at the state level. Some state laws are fairly clear that an appraiser risks losing his/her license if they do them. fannie doesn't care about your license, you do.

I suspect staff appraisers will have no choice, they must do what their employer says. That's why NC had a certified appraiser 2,000 miles away signing a hybrid report for a property here. If that's what the masters think is best, then we are in a lot of trouble. The wizards that run the show and make the rules might want to think twice.

But the trouble with staff appraisers has always been the same thing - you can't keep them around. People eventually get bored with making $17/hr and move on to more lucrative careers, like uber driving.

 

[Terrel L. Shields]

The US has a president whose own business history is high debt/leverage/risk and stick others with the bill...three bankruptcies, a trail of thousands of lawsuits and stiffing contractors.

Truman went bankrupt. The Bush family had Neal, an S & L fraud; Kennedy's daddy's fortune was made pumping stock and smuggling whiskey, and ironically, Hoover had a mining engineering firm specializing in turning bankrupt mining companies around. So?

 

[Mr Rex]

I don't know any appraisers that are doing these. Every appraiser I deal with in appraisal groups have no interest in them and will be actively fighting them at the state level. Some state laws are fairly clear that an appraiser risks losing his/her license if they do them. fannie doesn't care about your license, you do.

I suspect staff appraisers will have no choice, they must do what their employer says. That's why NC had a certified appraiser 2,000 miles away signing a hybrid report for a property here. If that's what the masters think is best, then we are in a lot of trouble. The wizards that run the show and make the rules might want to think twice.

But the trouble with staff appraisers has always been the same thing - you can't keep them around. People eventually get bored with making $17/hr and move on to more lucrative careers, like uber driving.

Care to elaborate?

 

[Carnivore]

You have no clue as to how the GSE's work. The GSE's do not make federal banking regulations. No banks are obligated to follow GSE guidelines by any sort of regulation. Lenders are obligated to follow the GSE guidelines when they sell their loans to the GSE's because they are contractually obligated to do so.

Check your brain.

Exactly! Even if they(lender) don't and they require you to use a FNMA Series Report format then its not a bad idea to develop and report as-if it was going to a GSE. These lenders may say they are not going to securitize(sp) a loan though a GSE but they will without you(appraiser) knowing it.

Appraiser play one role in this; Comply with the Selling Guide. What is so great about the selling guide is rather simple. They have very few absolutes. All it takes is narration of where deviations from the norm exist. That's It!

This is a Bold statement and their will be some that will disagree because they always disagree; If a Trainee from day was advised to have a the following references on their desk and familiarize themselves thoroughly, they will do very well in the World of Residential Lending Appraisal work: Bolded the Most Important.
1, Copy of USPAP
2. Link to the FNMA Selling Guide
3. Link to the Appraiser Forum
4. FHA 4000.1
5. AI Dictionary of Real Estate Appraisal
6. AI Appraising Residential Properties
7. AI The Appraisal of Real Estate.

 

[Mr Rex]

and read the f-ing report form they are using from front to back erry time they are about to sign it...