Just wondering, is anyone doing the new 1004/70D desktop for their clients?

[JeffSH]

The markets are declining and unfortunately some of these homes will go to foreclosure and their notes will be scrutinized heavily. If your hybrid or lessor product is attached to these defaulting loans, there's more liability.

My appraisals are great. Scrutinize away. It's all based on the effective date. It's not my concern if the borrower stops paying their mortgage after the first year.

 

[chad hampton]

I’ve seen too many appraisers get sanctioned by my state for doing desktops. Unfortunately all the ones I’ve read about are from out of state so I don’t think they really care. What a system.

 

[DWiley]

I’ve seen too many appraisers get sanctioned by my state for doing desktops.

I am curious, given that nothing about doing a desktop appraisal per se is prohibited by USPAP, what exactly have the sanctions been for? Are they the same kind of things that we traditionally see in traditional appraisals, or something else?

 

[Joe Flacco]

I have not heard of anyone doing desktops.

 

[Joe Flacco]

They must be using desktops only in certain markets.

 

[TerryRohrer]

They must be using desktops only in certain markets.

Someone posted elsewhere that they were expected to complete 10-15 a day as an AMC employee. I suspect that is where any volume in them is hiding.

 

[Joe Flacco]

Someone posted elsewhere that they were expected to complete 10-15 a day as an AMC employee. I suspect that is where any volume in them is hiding.

That is insane.

 

[Tiffany Gibbons]

I am curious, given that nothing about doing a desktop appraisal per se is prohibited by USPAP, what exactly have the sanctions been for? Are they the same kind of things that we traditionally see in traditional appraisals, or something else?

I don't think anyone is doing them out here in Middle Tennessee. Public data available sucks here. Maybe Metro Nashville, which I don't go to for traffic reasons. Good luck elsewhere!

 

[TerryRohrer]

For

That is insane.

For as little as $14 each.

 

[ucbruin]

For

For as little as $14 each.

I don't know if you noticed but the OP....
Did not respond to my post asking what the high end and average fees were....