More AMC and PDC Bull

[alebrewer]

Does anyone have a recent PDC that they can post.

Here's a sample from Freddie:

https://sf.freddiemac.com/docs/pdf/report/pdr-dataset-sample.pdf

 

[ilsindaco2628]

Well what does 2055 instructions say ? something about data? So I would counter with a higher fee and likely request and upgrade to a 1oo4 or a 3.6 or turn it down and the AMC will just find some other sap to take the assignment. Thein lies the problem. Excess labor

The other metric is it is likely a low risk borrower. and or the loan is so low that risk is very low

That's the entire reason why the fees are as low as they are. If I ask for 275 instead of 225, I won't get it. AMCs existing causes appraisers to undercut each other and there's almost no choice we have. Make less money or no money.

 

[Carnivore]

I dont disagree with you. This is where we our at at this time. The question is how do we fix it. Answer: We cant except maybe quit and do something else.

 

[ilsindaco2628]

I dont disagree with you. This is where we our at at this time. The question is how do we fix it. Answer: We cant except maybe quit and do something else.

That's kind of why I am doing PDC work. I am only 38 years old and there are people on this very message board who will tell you that this entire profession may be gone in 10 years. I am just trying to find where the money is. A lot of appraisal work is being funneled into PDC so here I am. With interior and exterior PDC, I have made $3,000 since Feb 1st when I started. It's a good supplement to the appraisal work.

 

[alebrewer]

If you have a cert, the best long term solution would be leveraging that credential into something 'non-GSE/FHA' related. Litigation work, right of way, tax assessment, machinery and equipment. Also consider expanding into the 'non-QM' world - hard money lending, DSCR loans, STR analysis, etc.

 

[ilsindaco2628]

If you have a cert, the best long term solution would be leveraging that credential into something 'non-GSE/FHA' related. Litigation work, right of way, tax assessment, machinery and equipment. Also consider expanding into the 'non-QM' world - hard money lending, DSCR loans, STR analysis, etc.

Currently licensed but will be certified within the next two years.
Another on the list of reasons I am doing PDC is because it's hard to get orders from AMC's and lenders if you are just licensed but I do get a fair bit.
Already doing a lot of non-QM work but that gets real fishy after a while. No one in that realm really pays attention to "rules and laws" haha. Have to be careful.

 

[alebrewer]

Just recently built a STR rental analysis dashboard for STR analysis. It's pretty slick.

 

[ilsindaco2628]

Just recently built a STR rental analysis dashboard for STR analysis. It's pretty slick.

That's another thing I want to get into. The only database I know of for STR is AirDNA which costs $700 per year but I haven't missed out on enough STR work to justify the cost... though it's growing.

 

[alebrewer]

That's another thing I want to get into. The only database I know of for STR is AirDNA which costs $700 per year but I haven't missed out on enough STR work to justify the cost... though it's growing.

DSCR loans are definitely becoming more popular - and appraisers can pretty much charge what they want for STR analysis.

 

[Terrel L. Shields]

They had been threatened very clearly in the past,

The ASC once tried to force the Arkansas board to overturn a rule that no appraiser can be sanction over actions beyond the state Statutes of Limitations (3 yr.). A lawyer-appraiser was sanctioned over events of a former trainee from years earlier and he fought back and the board ended up having to pay him $4,000 AND agree to not sanction anyone over things happening beyond the SoL when the judge agreed that the board was not immune from the SoL. The ASC demanded the board defy the state SoL not to mention they would be violating the court order.

The board ended up telling the ASC to shut their pie hole.