Hybrid

[Joe Flacco]

Just normal politics I guess.

 

[Joe Flacco]

When was it that the announcement came out about unlicensed people being allowed to inspect the property? Was it last year or earlier this year? Seems like this was being planned for a while now.

I remember when that announcement came out appraisers were thinking that licensed appraisers would be hiring unlicensed people for inspections but obviously it was just setting the stage for hybrids.

 

[Carnivore]

Well, given that Fannie is contemplating replacing 20% to 50% of 1004s with hybrids, what other comparison would you expect?
Fannie wants to try hybrids because of the turn time as compared to a 1004. They feel they can get faster turn time without a significant increase in risk Simple as that. It may work. It may not.

Agree!! Frankly i don't think they are doing this for a fee reduction. Its all about time.

 

[Joe Flacco]

Agree!! Frankly i don't think they are doing this for a fee reduction. Its all about time.

You are missing the point.

They are saying that since exterior inspection hybrid is quicker than a interior inspection appraisal, a interior inspection hybrid will be quicker than a interior inspection appraisal.

Does that make sense to you?

 

[Carnivore]

You are missing the point.

They are saying that since exterior inspection hybrid is quicker than a interior inspection appraisal, a interior inspection hybrid will be quicker than a interior inspection appraisal.

Does that make sense to you?

Yes, but I am here to tell you that in all likelihood GSE already has a prior 1004 on the subjects of Hybrid/BF's

 

[Joe Flacco]

This is 100% about the large BPO/Appraisal AMC's who have the infrastructure and technology taking market share from direct ordering lenders and smaller AMC's that do not have the infrastructure and technology. Either by just flat out winning the market share or by licensing the infrastructure and technology.

 

[Joe Flacco]

Yes, but I am here to tell you that in all likelihood GSE already has a prior 1004 on the subjects of Hybrid/BF's

You probably right. Tell you the truth I don't think appraisals are even all that important for a lot of properties.

 

[djd09]

It is beyond absurd to think nobody but an appraiser can correctly measure a house and that it would not be easy to train property inspectors to measure homes. There are some legitimate arguments that can be made regarding hybrids, but this is not one of them.

Then they can do their own appraisal and sign it. At it again.

 

[djd09]

We have been doing "hybrids" for over a decade now, and the average turn time is about half the turn time for a 1004 in the same area.

You keep telling people how it is, and your company just throws personal Identifications in the dumpster. Maybe you should worry about those matters.

 

[bnmappraisal]

The inspectors used generally complete the inspection and deliver a property report in less time than it takes for the typical appraiser to schedule the inspection.

Is that because of the required TAT's for said property report? Or are they really that much quicker than appraisers trying to schedule appts?