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Intimidation....I Will Not Be Silenced

Nobody is saying the PDR the same as when the appraiser is personally inspecting.

Less is always less, but in the case of a PDR it's more than an exterior-only, and it's also is a lot more than nothing at all. Both of which are also alternatives a lender can choose. The other argument is that less can sometimes be sufficient to purpose, which applies to the exterior-only and the no look at all alternatives.

If we can characterize the lender's alternatives to comprise a spectrum, a PDR+Desktop is arguably closer to a conventional 1004 than a 2055 and is a lot closer than nothing at all. So the idea that the appraiser's level of confidence can't possible get worse than a PDR+Desktopn is subject to challenge. There are even lesser alternatives out there, and the lenders can choose them.
 
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George Hatch said:
Nobody is saying the PDR the same as when the appraiser is personally inspecting.

Less is always less, but in the case of a PDR it's more than an exterior-only, and it's also is a lot more than nothing at all. Both of which are also alternatives a lender can choose. The other argument is that less can sometimes be sufficient to purpose, which applies to the exterior-only and the no look at all alternatives.

If we can characterize the lender's alternatives to comprise a spectrum, a PDR+Desktop is arguably closer to a conventional 1004 than a 2055 and is a lot closer than nothing at all. So the idea that the appraiser's level of confidence can't possible get worse than a PDR+Desktopn is subject to challenge. There are even lesser alternatives out there, and the lenders can choose them.
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Can regulated lenders loaning on taxpayer-backed loans simply choose even lesser alternatives?
 
bluechip said:
Exactly. THAT is the distinction I’ve been trying to make. They were free to remove me from their panel for any legitimate business reason. But reaching into a social media discussion about ANOTHER AMC, then putting that in writing as justification, wasn’t necessary. That wasn’t a business decision. That was a message: watch what you say or there may be consequences. And THAT is the problem.
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I think AMC's are slime, but you criticized their industry and business model and they decided not to do business with you...that actually seems like a reasonable business decision and if you really don't work for them or other AMC's, then why do you care?
 
Imo, it is impossible to tell the WAIVER impact on property values /sales prices. I can maybe see a waiver for a refi in certain cases. But they are using them for purchase loans, and how broad a value and how carefully is the data analytics range which greenlights it?

For example, I was assigned a purchase and 2 days later it got removed becaue the people got approved for a waiver. It was a real borderline case if it would have made value. Thre wass ONE sale in the community several months ago that supported the value - did that sale get an apprpaisal or was it sold with a waiver whtere the sle price was the value? This community was a mix of newer /recnelty built and a mix of a section with 20-year-old construction. If the data anyitics did not separte them out, the higher-price newer build date sales would inflate the value of the older build date sales
 
George Hatch said:
Based on their actions it is apparent that they can. A waiver is even less than an appraisal of any kind.
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Yes, we already know they can choose a waiver. At the end of your post, you mention even lesser alternatives. What are they?
 
J Grant said:
Imo, it is impossible to tell the WAIVER impact on property values /sales prices. I can maybe see a waiver for a refi in certain cases. But they are using them for purchase loans, and how broad a value and how carefully is the data analytics range which greenlights it?

For example, I was assigned a purchase and 2 days later it got removed becaue the people got approved for a waiver. It was a real borderline case if it would have made value. Thre wass ONE sale in the community several months ago that supported the value - did that sale get an apprpaisal or was it sold with a waiver whtere the sle price was the value? This community was a mix of newer /recnelty built and a mix of a section with 20-year-old construction. If the data anyitics did not separte them out, the higher-price newer build date sales would inflate the value of the older build date sales
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Maybe there putting down 30% have a 800 FICO and the mortgage amount is well covered using the waivers approval. Not all loans need appraisals.
 
Some on here simply want only full appraisals and nothing else and everything to just stay the same and never change. Unfortunately that's not living in today's reality of where valuation technology is moving.
 
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