Hybrid

[chad hampton]

This hybrid nonsense won't ever end until we stop it. Its about giving away a service we do to 1M+ realtors in this country or anyone else with a pulse they can get to drive to a property. This is just another step along the way. Glad to see appraiser's waking up. Took some of us long enough.

I don't think appraiser's should view these as just desktop appraisals. When I got an order for a desktop, I knew the risk and liability was extremely low. Most likely wasn't even used for lending. If it was, it was minor. Same goes with 2055's, many of them are for non-lending/preforeclosure work, or very low LTV loans. I have always based my fee on both time and risk assessment.

If these 'hyrids' are going to be used to replace a URAR for purchases, refi's, etc, I'm not giving a discount. In fact, I'll have to assess the risk of having an individual who isn't even smart enough to realize that $50 is barely enough money to start your car in the real world be the one out there performing a significant task in the appraisal process.

I suspect these products will come and go very fast. I'm not aware of too many states that permit unlicensed individuals to act as an appraiser. Which is exactly what is going on here.

 

[Deleted member 130081]

Where do you think the idea of bifurcating the process and producing "hybrid" reports originated? It wasn't lenders or GSEs. It originated with appraisers. The GSEs first started looking seriously at it when they hired an appraiser who had experience with the process and suggested that they consider it.

LOL. So, there was this guy who told me that is was a good idea to wipe my arse with my hand, because it was super easy to do and I would save a ton of money on toilet paper. I ran with that idea for a while because I dunno...it seemed to make sense and sounded pretty good. Then after a while, other people started to let me know I had taken some really bad advice.

I think the key word in your post is "an" appraiser, meaning singular. Again Danny, one more reason, and thanks for providing it, why appraisers should organize and speak with a single voice.

A bi-furcated appraisal or two, here and there, would not be an issue, even for a couple loan origination's every so often, depending on the other circumstances of the loan. The problem I see is if they ever became the norm, and we are talking about lenders who pay for the appraisal party here. For starters, pictures very often are no substitute for a walk through. Second, no buyers are going to purchase without first doing a walk through. Third, if these ever became the standard, appraisers would eventually become disconnected with what they are appraising. And finally lets be honest about how lenders work and how they think. They want the cheapest possible appraisal and could care less about quality. You could even argue they would prefer a bad appraisal over a good one, at least on the origination side. And when the taxpayer foots the bill, well...the investment side could care less too.

Let me put it this way and be very clear. If quality appraisals are needed and wanted, bi-bifurcated are not an appropriate product. If all you need is a loose guess, then let 'er rip. Thing is, if appraisers follow USPAP and take the part about public trust to heart, then we all need to be sounding the alarms about these inferior products to our lender clients.

There are appraisers who think trainees are every bit as good as an experienced, credentialed appraiser too. Pretty sure the banks are smart enough not to listen to that guy so...what was your point again? Are you making a point? Or just saying stuff?

Do you think a bifurcated appraisal is a quality product?

 

[Meandering]

From the Commonwealth of Virginia Department of Professional Occupational Regulation, Virginia Real Estate Appraiser Board, Appraisal Management Company Regulations:

18 VAC 130-30-160. Prohibited acts.

The following acts are prohibited and any violation may result in disciplinary action by the board:

#10: Failing to act as an appraisal management company in a manner that safeguards the interests of the public

We are not professors of law, nor are we licensed to practice law, but we can read and comprehend the English language. You must be licensed or directly supervised by someone who is licensed to assist with the appraisal and an AMC cannot engage in practices that do not safeguard the public.

http://appraisersblogs.com/questionable-bifurcated-hybrid-appraisals

 

[Non Sequitur]

From the Commonwealth of Virginia Department of Professional Occupational Regulation, Virginia Real Estate Appraiser Board, Appraisal Management Company Regulations:

18 VAC 130-30-160. Prohibited acts.

The following acts are prohibited and any violation may result in disciplinary action by the board:

#10: Failing to act as an appraisal management company in a manner that safeguards the interests of the public

We are not professors of law, nor are we licensed to practice law, but we can read and comprehend the English language. You must be licensed or directly supervised by someone who is licensed to assist with the appraisal and an AMC cannot engage in practices that do not safeguard the public.

http://appraisersblogs.com/questionable-bifurcated-hybrid-appraisals

Flat out FUD. The author and anyone associated with this FUD should be ashamed. It does nothing to help the profession move forward.

 

[Evincere]

Flat out FUD. The author and anyone associated with this FUD should be ashamed. It does nothing to help the profession move forward.

So the VaCAP Board and anyone associated with them is A niche of FUDS?

 

[Non Sequitur]

So the VaCAP Board and anyone associated with them is A niche of FUDS?

Google FUD.

 

[timd354]

Flat out FUD. The author and anyone associated with this FUD should be ashamed. It does nothing to help the profession move forward.

Nothing new from this group...VACAP is the same group that spread the outright lie in 2016 that the Virginia board had adopted the VA fee schedule as the minimum acceptable fee for C&R compliance ...obviously, that turned out to be completely untrue, but it did not stop VACAP from sending it's ridiculous "Courtesy notification to AMCs licensed in Virginia" which claimed that to be the case. http://appraisersblogs.com/compliance-notification-AMC-vacap

I wonder how hard the AMC's laughed when they received that ridiciluous "courtesy notification" from VACAP.

 

[Evincere]

Google FUD.

I did as you suggested! Hey I didn’t know what FUD meant but now I do. ** D is when AMCs release their fee surveys announcing their versions of C&R. FUD is when orders are broadcast at fixed fees with the intent of having Appraisers believe it’s the fee their competitors are accepting! Yea...Good ole FUD

 

[Evincere]

[/QUOTE]="timd354, post: 2850271, member: 112435
I wonder how hard the AMC's laughed when they received that ridiciluous "courtesy notification" from VACAP.

As hard as many Appraisers are laughing at the ridiculous $60 hybrid fees being offered?

 

[Eli]