Intimidation....I Will Not Be Silenced

[DWiley]

The data on PDRs is very clear. When a traditional appraisal is used (vs a hybrid appraisal) the odds of an item needing repair or inspection being "overlooked" go up by over 100%. Some appraisers like to post about data collectors missing key items, but the data shows just the opposite. The GSEs manage from the data, not feelings.

 

[J Grant]

It is not the fault of the PDR collectors themselves. I also assume a number of them do a good job, or try to.. But that is not the point. The point is that an appraiser receiving third-hand dry data, a set of notes , checklists, and photos, is not the same as a personal visit where the appraiser gets a first-hand impression of the property and its context in the neighborhood and street.

It would be like, instead of eating a meal in a restaurant for a restaurant review, the person got a list of ingredients and a photo of the meal. Not quite the same.

 

[J Grant]

The data on PDRs is very clear. When a traditional appraisal is used (vs a hybrid appraisal) the odds of an item needing repair or inspection being "overlooked" go up by over 100%. Some appraisers like to post about data collectors missing key items, but the data shows just the opposite. The GSEs manage from the data, not feelings.

I find that completely weird. And hard to believe. Somehow, the GSEs always come up with data that supports their agenda and never find a downside. OF course, nobody gets to see it other than them or know what it really means.

There is NEVER a study done to find the downside, or if done, it is not reported. Such as, X % of hybrids might show more repair items. Taking their word for it. But if other items such as site infleunce, noise, qualty etc is off or missing? That throws the whole value off.

What kind of repair items are these folks noting - missing doorknobs? Appraisers report only the repair items that impact the health or safety of a property. At user direction. An appraiser often has to fight tooth and nail to stay on a panel of they report too often about repair items. That is a fact. But sometimes, hybrids find 100% more repair items, and the lenders roll over and say, sure, make it subject to inspection and repair?

 

[djd09]

More claims you know are lies. You claim 25 years as an appraiser but you don't know what USPAP is. Why would anyone put any stock in anything you have to say? Hard to imagine you can write a credible appraisal.

how many nda's have you signed...

 

[chad hampton]

Why are data collectors calling out repairs? They just take pictures , no opinions allowed.

 

[chad hampton]

I find that completely weird. And hard to believe. Somehow, the GSEs always come up with data that supports their agenda and never find a downside. OF course, nobody gets to see it other than them or know what it really means.

They form opinions and then go find the data. Opposite of the scientific method

 

[Trihard]

I find that completely weird. And hard to believe. Somehow, the GSEs always come up with data that supports their agenda and never find a downside. OF course, nobody gets to see it other than them or know what it really means.

Magically the only data that GSE's provide to the appraisers is when the GSE's need something to change in their own favor.

 

[Trihard]

data collector = made up job to add additional variance to the appraisal, in order to quasi save the borrower $50 dollars, that eventually gets stolen by the AMC.

 

[J Grant]

A PDR report is better than no inspection at all, since it does provide photos and notes on a property.

But it does not provide the same feedback as a personal on-site visit by an appraiser of the subject for their own appraisal.

As for ACE PDR - the data collection is not for an appraisal; it is to avoid an appraisal - and be part of a waiver where lender or property owner can estimate whatever value they need as the property value - or the sale price is the property value - (providing the target value falls within a mystery data analytics range)

Which is almost funny considering what the HVCC was meant to accomplish. Since appraisals are regulated wrt valuing for a target or predetermined outcome such as approval of a mortgage loan, the GSE did an end run around that by eliminating the appraisal.

 

[NC Appraising]

The data on PDRs is very clear. When a traditional appraisal is used (vs a hybrid appraisal) the odds of an item needing repair or inspection being "overlooked" go up by over 100%. Some appraisers like to post about data collectors missing key items, but the data shows just the opposite. The GSEs manage from the data, not feelings.

I agree. Put could you put it in context or atleast your opinion as to why?

I will start...
The only required pics for a long time was front rear street, rooms, etc. What, a total of maybe 10.

As I understand stand it, pcrs require many more mandatory pics.

Are pcr inspectors graded on rejections? If I were one, I would comment on everything because more than likely the uw will call it out.

Do pcr inspectors call for repairs and give cost to cure?

Is it easier for a uw to nit pick every other issue on a pcr? To aviod rejections and lowering of the score..less work, i think some appraisers over look the small stuff or cosmetic items due to some AMCs and uws being nut jobs.

Let's be honest here. 95% of conventional reports are as is. Never understood that. Fannie guidelines were about 80% the same as compared to FHA when it came to repairs, subject to etc.. Appraisers at one point in time were just trained to overlook it to make the deal work....

I remember getting chewed out by a re agent several years ago for requiring repairs on the siding and roof. I got that I've been doing this for 20 years and no appraiser has ever made repairs for a conventional loan.

That being said, yes, appraisers are partly to blame. A lot of bad apples. But if pcr can get training, why can't we. Ie, require more mandatory pics, a more detailed SOW.