Hybrid

[Eli]

Do you really want me to start on bias?

 

[timd354]

Do you really want me to start on bias?

I really don't care what you do

 

[Eli]

You had better shut your own mouth then

Ok, I am very familiar with your line of work. What could be your possible biases? Do you need me to educate you or would you like to explain?

 

[Meandering]

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

The written regulations still do not allow them.

Change the regulations then we can worry about the fee.

.

 

[timd354]

The written regulations still do not allow them.

LOL

 

[timd354]

Ok, I am very familiar with your line of work?

That is very doubtful

 

[Eli]

That is very doubtful

Do you have any bias that could be in conflict with an independent appraiser?

You should check yourself. Your company should check yourself.

 

[DWiley]

The written regulations still do not allow them.

Change the regulations then we can worry about the fee.

.

Quick!! Someone had better get in touch with those folks over at the OCC, FDIC, etc. that have provided lenders with written approval for use of such products. Just tell them that "M said so." I am sure that will mean a LOT more to them than their own reading of their own regulations.

 

[timd354]

Quick!! Someone had better get in touch with those folks over at the OCC, FDIC, etc. that have provided lenders with written approval for use of such products. Just tell them that "M said so." I am sure that will mean a LOT more to them than their own reading of their own regulations.

Don't leave out FHFA, which undoubtedly approved Fannie's pilot of bifurcated (hybrid) appraisals

 

[djd09]

Fannie's pilot must be a bust. It shouldn't take 3 years. They are not reinventing the wheel.

Danny's company is for Profit only. This is key. Why would the 3 time chair of the ASB be here. Yep i know it.