New URAR Demo

[Mike Ault]

Appraisers shot themselves in the foot with the appraisal is needed yesterday mentality..... no substance/ boilerplate nonsense which led to inaccurate observations and valuations. Why not use an Uber driver and an AVM?

That wasn't the appraisers doing the shooting. That was their clients pulling the strings secure in the knowledge that they're able to offload their risk onto the MBS market with no recourse. What did everybody think, that they were going to put up with some lowly appraiser saying "this deal shouldn't happen" forever? They bypassed all of those appraisers as best they could, and this "modernization" scheme is just the final stake through the heart. I still haven't received an answer from either of the GSE reps to the question "will they accept appraisals from somebody who's never set foot in the city they're appraising in"? No answer is answer enough.

 

[Surf Cat]

That wasn't the appraisers doing the shooting.

Agree with your post with the exception of the above. Many appraisers were shyster's and sloppy.... chasing the quick dollar as opposed to providing a truthful, accurate analysis. They kow-towed to the mortgage brokers "making the deal work" by inserting Superior sales to that of the subject inflating the value, signing as "did inspect" while not stepping foot out of the office. Not even bothering to edit the boilerplate nonsense to make it pertain to the current assignment. We've all seen those reports.

I believe there's lots of blame for appraisers to shoulder in the decline of the profession. Sure, some were poorly trained. Others, no different from the AMC crooks.

 

[Non Sequitur]

Agree with your post with the exception of the above. Many appraisers were shyster's and sloppy.... chasing the quick dollar as opposed to providing a truthful, accurate analysis. They kow-towed to the mortgage brokers "making the deal work" by inserting Superior sales to that of the subject inflating the value, signing as "did inspect" while not stepping foot out of the office. Not even bothering to edit the boilerplate nonsense to make it pertain to the current assignment. We've all seen those reports.

I believe there's lots of blame for appraisers to shoulder in the decline of the profession. Sure, some were poorly trained. Others, no different from the AMC crooks.

There were no clean hands during the last bust, including the GSEs.

 

[chad hampton]

If you don't like boiler plate info and cya sttements, you would hate reading other professional reports.

 

[DWiley]

Agree with your post with the exception of the above. Many appraisers were shyster's and sloppy.... chasing the quick dollar as opposed to providing a truthful, accurate analysis. They kow-towed to the mortgage brokers "making the deal work" by inserting Superior sales to that of the subject inflating the value, signing as "did inspect" while not stepping foot out of the office. Not even bothering to edit the boilerplate nonsense to make it pertain to the current assignment. We've all seen those reports.

I believe there's lots of blame for appraisers to shoulder in the decline of the profession. Sure, some were poorly trained. Others, no different from the AMC crooks.

One can argue about who or what is most to blame for appraisers who act as you describe. However, what is really not debatable is that the appraisal reports prepared by the group of appraisers you describe above has an important side effect. Every potential alternative to traditional appraisals is evaluated by comparison to the results obtained when the loan is based on a traditional appraisal. If the population of traditional appraisal reports includes X% of reports where the appraiser inflated the value, did not really inspect the property, did not actually use supported adjustments, ignored things that should require inspection and/or repair, etc., then that lowers the bar for the performance required of the alternative in order to produces equal results. The larger X is, the lower the bar for adopting appraisal alternatives.

 

[djd09]

Why not use an Uber driver and an AVM?

they want you gone so bad...they let paschal do the home inspection

 

[djd09]

If you don't like boiler plate info and cya sttements, you would hate reading other professional reports.

they can't find the repairs needed addendum...

 

[Surf Cat]

However, what is really not debatable is that the appraisal reports prepared by the group of appraisers you describe above has an important side effect. Every potential alternative to traditional appraisals is evaluated by comparison to the results obtained when the loan is based on a traditional appraisal.

I wonder what the side effects to Collateral underwriter was from said group of appraisers of its automated risk assessments?

then that lowers the bar for the performance required of the alternative in order to produces equal results.

Apparently so..... why advertise PDC work to real estate agents as opposed to licensed, mentored, appraisers as our skills would be the obvious fit? Did you see that advertisement someone posted in one of the threads recently?

If the bar has been lowered that much, why all the continuing education hours for appraisers? Why does that matter anymore?

The larger X is, the lower the bar for adopting appraisal alternatives.

Everyone seems to want the Appraiser's money. Whether it be licensing fees, continuing education, fancy smancy adjustment / market calculating software, Lidar phone measuring apps, etc.......but no one wants to hire or pay for an appraisal.....just bits and pieces of partial gig work.

 

[TC]

Apparently so..... why advertise PDC work to real estate agents as opposed to licensed, mentored, appraisers as our skills would be the obvious fit? Did you see that advertisement someone posted in one of the threads recently?

If the bar has been lowered that much, why all the continuing education hours for appraisers? Why does that matter anymore?

 

[Non Sequitur]

Apparently so..... why advertise PDC work to real estate agents as opposed to licensed, mentored, appraisers as our skills would be the obvious fit? Did you see that advertisement someone posted in one of the threads recently?

Because they don’t want to pay anything near reasonable fees, despite what some at the GSEs claim. Here’s a current advertisement running on FB: