Dale Floyd
Senior Member
- Joined
- Apr 14, 2007
- Professional Status
- Certified Residential Appraiser
- State
- Tennessee
I decided to take the New URAR course through MK. We have one coming up in Mid-TN this summer, but I wanted to see the training firsthand before then. Quite interesting, even though the tone of the MK course isn’t fun or friendly.
The course is slated for 7 credit hours but takes about 4-5 hours straight through. There will likely be those (mostly no longer actively appraising) who will look at the mounds of information the new report will require in data and confirmations and proclaim that all these things should be done by appraisers anyway, or that the new report will eliminate addenda’s, etc. - But it is quite exhaustive. I’ve been in this profession longer than most and I’ve seen multiples of appraisal reports written by the good and bad, but I’ve seen nothing like this before. I believe my crew to be among the best, but this will be a challenge to everybody.
If the goal is to make appraisals more simple for review programs, it won’t.
If the goal is to get all appraisers on the same page, it will likely force the older ones out completely. I can think of scores who will never be able to adapt at such a complete overhaul like this.
If the goal is to save borrowers money, this will probably cause fees to increase. This will take much longer and template crutches commonly used, won’t be as applicable anymore.
I’m a very realistic person, without any smoke or fluff. This coming change is going to be a lot to swallow for many. I would strongly advise taking a course and trying to practice a ton once the providers make the process available. The GSEs are eliminating the forms you use most commonly, and this new format will also be used for personal and legal purposes too.
The course is slated for 7 credit hours but takes about 4-5 hours straight through. There will likely be those (mostly no longer actively appraising) who will look at the mounds of information the new report will require in data and confirmations and proclaim that all these things should be done by appraisers anyway, or that the new report will eliminate addenda’s, etc. - But it is quite exhaustive. I’ve been in this profession longer than most and I’ve seen multiples of appraisal reports written by the good and bad, but I’ve seen nothing like this before. I believe my crew to be among the best, but this will be a challenge to everybody.
If the goal is to make appraisals more simple for review programs, it won’t.
If the goal is to get all appraisers on the same page, it will likely force the older ones out completely. I can think of scores who will never be able to adapt at such a complete overhaul like this.
If the goal is to save borrowers money, this will probably cause fees to increase. This will take much longer and template crutches commonly used, won’t be as applicable anymore.
I’m a very realistic person, without any smoke or fluff. This coming change is going to be a lot to swallow for many. I would strongly advise taking a course and trying to practice a ton once the providers make the process available. The GSEs are eliminating the forms you use most commonly, and this new format will also be used for personal and legal purposes too.
