Hybrid

[Terrel L. Shields]

However, some people are making the point that the arguments that hybrids are not USPAP complaint or are that they are too risky for their intended use are really thinly disguised fee arguments which fool nobody.

Well? Is it the fee or not? But if you do them in the cloud without any ability to change the form, even with a good workfile, the question is, how can you comply with these hybrids in 45 minutes. In any place outside Cookie Cutterville, you CAN'T...period. Nobody is that good. It takes time

concerns about fee and income are fine

But I was criticized for saying it is about the relationship between the FEE and the TIME necessary to write a compliant document. And then now suddenly everyone who DOES NOT DO THEM THEIR SELVES is claiming "even a caveman can do it"...ez pz but please don't ask me too because I charge more than that....???? OK.

But there is a real argument - regardless fee - that the clients of this garbage thinks it is just as good as a full appraisal on a 1004 or at least on a 2055....while the promoters of this tripe know good and well it serves only as a compliance document, is otherwise "not worth the (digital) paper its written on" and serves only to appease the examiners, knowing full well that if it "blows up" -which sooner or later it will - the blame goes to the man/woman with the rubber stamp saying "CR XXXX", not to the AMC, not to the lender, not to the borrower...It is about the transfer of liability to the appraiser...evaluators are not licensed. The bank can be held accountable for them.

 

[Eli]

Well? Is it the fee or not? But if you do them in the cloud without any ability to change the form, even with a good workfile, the question is, how can you comply with these hybrids in 45 minutes. In any place outside Cookie Cutterville, you CAN'T...period. Nobody is that good. It takes time

But I was criticized for saying it is about the relationship between the FEE and the TIME necessary to write a compliant document. And then now suddenly everyone who DOES NOT DO THEM THEIR SELVES is claiming "even a caveman can do it"...ez pz but please don't ask me too because I charge more than that....???? OK.

But there is a real argument - regardless fee - that the clients of this garbage thinks it is just as good as a full appraisal on a 1004 or at least on a 2055....while the promoters of this tripe know good and well it serves only as a compliance document, is otherwise "not worth the (digital) paper its written on" and serves only to appease the examiners, knowing full well that if it "blows up" -which sooner or later it will - the blame goes to the man/woman with the rubber stamp saying "CR XXXX", not to the AMC, not to the lender, not to the borrower...It is about the transfer of liability to the appraiser...evaluators are not licensed. The bank can be held accountable for them.

Tim is setting his company up for lawsuits galore. Phil Crawford is preaching it.

 

[timd354]

Tim is setting his company up for lawsuits galore. Phil Crawford is preaching it.

Who is going to sue us Eli and for what? You don't have any knowledge whatsoever of what we do and do not do, yet you somehow think of yourself as being competent to comment on our potential legal risks....more fantasy-land nonsense from you.

 

[timd354]

But there is a real argument - regardless fee - that the clients of this garbage thinks it is just as good as a full appraisal on a 1004 or at least on a 2055.....

Really? What a crock...please name which clients that use hybrids who are not aware that hybrids are different from 1004's or are unaware of the limitations of hybrids versus 1004's.

 

[Artemis Fowl]

Well? Is it the fee or not? But if you do them in the cloud without any ability to change the form, even with a good workfile, the question is, how can you comply with these hybrids in 45 minutes. In any place outside Cookie Cutterville, you CAN'T...period. Nobody is that good. It takes time

But I was criticized for saying it is about the relationship between the FEE and the TIME necessary to write a compliant document. And then now suddenly everyone who DOES NOT DO THEM THEIR SELVES is claiming "even a caveman can do it"...ez pz but please don't ask me too because I charge more than that....???? OK.

But there is a real argument - regardless fee - that the clients of this garbage thinks it is just as good as a full appraisal on a 1004 or at least on a 2055....while the promoters of this tripe know good and well it serves only as a compliance document, is otherwise "not worth the (digital) paper its written on" and serves only to appease the examiners, knowing full well that if it "blows up" -which sooner or later it will - the blame goes to the man/woman with the rubber stamp saying "CR XXXX", not to the AMC, not to the lender, not to the borrower...It is about the transfer of liability to the appraiser...evaluators are not licensed. The bank can be held accountable for them.

Like I said 3 pages ago...fees and liability.
How many appraisers got in trouble last time for not doing what the signed certs said they did? How many still do? This product carries no more liability that the rest of 'em if it is USPAP compliant and you actually do what you certify to. That's where fee problem comes in.

 

[djd09]

The word FUD will be abused by me.

Still waiting for TimD to post his companies Public Trust statement. Or for that matter any AMC. Nope, not gonna happen.

 

[George Hatch]

The whole point about discussing whether or not it's permissible for appraisers to do these is because once someone understands that it is permissible it leads to a logical progression that appraisers should give some consideration to in terms of making any long term plans.

Whether of not you have any interests in doing these at any price or under any circumstances, if these are permissible you also have to consider the following:

- If they're permissible for lenders to use, some lenders will use them
- If they're permissible for lenders to use, some appraisers will do them
- Some of those assignments will be used in lieu of BPOs and AVMs, but some will be used in lieu of 2055s, and even 1004s
- Some of the formats and SOW will be streamlined in relation to what Fannie needs in a 2055 or 1004; possibly most of them.
- Probably most of the appraisers who perform these will spend significantly less time on them than they would have on a 2055 or 1004
- Fees will probably be commensurate with the amount of time the appraisers doing these think it actually takes to do one to the satisfaction of their users.
- Because the SOW will prolly be streamlined the productivity of the appraisers doing these will be a lot higher than if their clients weren't allowed to use them
- A (let's say) 15% reduction in the easiest assignments will lead to a higher average degree of difficulty for the assignments that remain because yo won't have as many of the easy ones to offset the harder ones.
- Net result will be that the use of these will extend our productive capacity relative to the demand for appraisal-hours. 10 URARS @ 7hrs ea = 70 appraiser hours, whereas 10 hybrids at 2hrs ea = 20 appraiser hours.
- So for every appraiser doing these full time there will be 2 appraisers who will have no work at all. Or 4 appraisers whose workload is cut in half.

- No matter what, everyone needs a plan for how they're going to deal with the changes in the market that will occur if/when these hybrids come into more widespread use.
- The people who proceed with no plan will be reacting to whatever happens to them as opposed to the people who are choosing to act toward developing whatever they think are their most favorable alternatives.

- Proactive > Reactive

 

[timd354]

The word FUD will be abused by me.

Still waiting for TimD to post his companies Public Trust statement. Or for that matter any AMC. Nope, not gonna happen.

I don't work for an AMC. I work for a publicly traded company and all of our official statements can be found on our website or in our required regulatory filings, which can be found online. If you actually want to know what they say, you are free to look them up for yourself.

 

[djd09]

I don't work for an AMC. I work for a publicly traded company and all of our official statements can be found on our website or in our required regulatory filings, which can be found online. If you actually
want to know what they say, you are free to look them up for yourself.

Too embarrassed to post it.

Where is Danny company public trust statement?

 

[timd354]

Too embarrassed to post it.

Where is Danny company public trust statement?

Embarrassment has nothing to do with it. Anyone with a clue would realize that the Chief Appraiser is not one of those people at a publicly traded corporation who is authorized to publish any statements or any other communications on behalf of the company.