I am not doing the 3.6 FORM deal

[nicholz12]

I understand workflow changes. And as you get older and have done it a certain way it does get harder. I’m 70 so I know what you mean. But if any appraiser is going to stay in this business they will have to change their workflow. It isn’t easy. When I went all mobile I had to change my workflow. It took awhile to figure it out. But as I said after about 20 appraisals it became easy. It might take longer on this one. That’s one of the reasons I probably won’t continue. If I did 5 to 8 appraisals a week it would be a faster learning curve. But I’m just doing 4 or 5 a month. Not enough time to build familiarity. Each one is going to be a slog. Heck by the time I have it figured out I’ll be too old.(sarcasm).

What bothers me more than how to put the data down is the amount of data they want. Do we really need ceiling height?

Agree, I'm thinking the same way... definitely will take time w/ the new software, using the phone camera/ sketching. Also, HO/ realtor talking while your sketching, clicking boxes ... also I don't see our fees increasing that much regardless of how much more we have to learn/change to the new format, this GSE agenda is NOT about us it's about them and making their lives easier. We are the collateral damage.

 

[Terrel L. Shields]

Fannie Mae does not buy back loans.

Risk free lending. Everyone else is at fault. That's why Fannie and Freddy need abolished 100% and the top officers banned from all banking for life.

 

[nicholz12]

I did not realize my iPhone 14 Pro has Lidar

• Regular iPhone models, like the iPhone 16 and iPhone 15, do not include LiDAR.
• LiDAR is a powerful, professional-grade sensor.
• Only iPhone Pro models have LiDAR sensors.
• It was introduced with the iPhone 12 Pro in 2020.
• As of 2024, all Pro models from iPhone 12 Pro to iPhone 16 Pro Max have LiDAR.

Is it easy to learn lidar on your own or did you a watch video/webinar or class.

 

[gregb]

Have not subscribed to Lidar and given it a test drive. The $59.99 per year cost seems inconsequential.

 

[Terrel L. Shields]

Is it easy to learn lidar on your own

I was once a member of The American Society for Photogrammetry and Remote Sensing, my graduate studies were oriented in SLAR (side-look airborne radar), IR U-2 photo imagery, and Landsat interpretation. Lidar was in the future at that point but readily understandable with that background. SLAR is just radio waves instead of Lidar's laser frequencies. I love working with the stuff and today with drones and computing power we have so many great options using this technology.

 

[HVNY]

I just looked at my desk and realized that while I have 20 appraisals to get out, 2 of those are in house new construction loans and 1 is a 203K reno, and the rest is private non lender work. The majority of my private work is referral based and I don't market myself that much beyond networking. So if this trend continues, I probably will ramp up promoting my non lender services, and then dabble with the new "form" if I am compensated appropriately. I'm also seriously considering developing my own spreadsheet based format for my private work if I can't use a "non-dynamic" form from the software provider, I currently use ACI GPAR.

 

[Fernando]

I got this email from Cubicasa:

Starting in January, all lenders will accept UAD 3.6, and we wanted you to have time to prepare and get accustomed to it....

 

[Sandra Koutsopoulos]

Agree, I'm thinking the same way... definitely will take time w/ the new software, using the phone camera/ sketching. Also, HO/ realtor talking while your sketching, clicking boxes ... also I don't see our fees increasing that much regardless of how much more we have to learn/change to the new format, this GSE agenda is NOT about us it's about them and making their lives easier. We are the collateral damage.

Then why do it?
We didn't stand up and make a big squawk when AMC's proliferated all over the dang place, then continuously raised their prices while shopping our fee, and then tested the waters to see if "tech fee" would fly, and now most res appraisal fees for lenders have been kicked into the "way-back machine" with our net fees scarcely above 20 years ago. IMO, all of this new minutiae does virtually nothing to make lenders more secure in their collateral nor ensure more precisely that borrowers will repay their loans. I also don't think it creates a more correct opinion of value in an appraisal report. It's just eroding our $/Hr.

What the 3.6 WILL likely do is have Borrowers paying higher costs, AMCs likely taking their 50% or whatever of that, and our net pay for the added work will be in the MINUS range. Further, I'm absolutely certain that the majority of Borrowers would like the appraisal inspection to be as painless as possible (heck, at 1/2 or more of the houses I appraise, the housekeeping is abominable, clothes all over the floor, dirty dishes, clutter, plus dog poo aging in the back yard for a month or more) and they would not enjoy an appraiser lingering in their house for 2.5 hours clicking on pull-down menus for details that don't matter for their loan nor appraised value.

IMO, if the vast majority of appraisers refused to do the 3.6, it would fail to be implemented.

 

[Tom D]

There will be a slow down, as soon as most of us dive into that empty concrete pool. Maybe, the pain stops in our heads when fees are raised. Hahahahaha.

 

[Bobby Bucks]

There will be a slow down, as soon as most of us dive into that empty concrete pool. Maybe, the pain stops in our heads when fees are raised. Hahahahaha.

I won’t be diving, I’ll wade into the shallow end. Pioneers get the arrows. With the Uniform Abomination Dataset I’ll observe what the legions of white trash Facebook volunteers do and learn from their mistakes. The water may be cold, hot, shallow, deep or there may be no water at all.