No bias here - keep moving

[CGinMN]

Fannie Mae desperately needs an Appraiser Relations person to vet their communication before it’s disseminated to working appraisers. All of these examples, such as the recent market conditions index graph and the quotes in the OP, quickly get past their single family crew because they don’t understand what it takes to be an working appraiser. This is what happens when you spend a decade yukking with AMC chiefs and licking the boots of executives. It’s hubris.

Re: horrific appraisals - this lands most squarely on the GSEs shoulders. They shape appraiser and underwriter behavior and, whether they like it or not, they have a big impact on appraisers business operations and financial feasibility. They have always taken zero responsibility, hence the status quo. This is what you get with a government sanctioned duopoly.

 

[shrubberyvaluation]

Most likely they will do horrific jobs with PDR assignments too.

Maybe that is the goal is hybrids, to make sure it is not completed by a competent appraiser.

 

[shrubberyvaluation]

Fannie Mae desperately needs an Appraiser Relations person to vet their communication before it’s disseminated to working appraisers. All of these examples, such as the recent market conditions index graph and the quotes in the OP, quickly get past their single family crew because they don’t understand what it takes to be an working appraiser. This is what happens when you spend a decade yukking with AMC chiefs and licking the boots of executives. It’s hubris.

Re: horrific appraisals - this lands most squarely on the GSEs shoulders. They shape appraiser and underwriter behavior and, whether they like it or not, they have a big impact on appraisers business operations and financial feasibility. They have always taken zero responsibility, hence the status quo. This is what you get with a government sanctioned duopoly.

Yep FNMA supports the institutions that support horrific appraisals.

 

[Mejappz]

Enjoy.

 

[TerryRohrer]

Enjoy.


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In another comment to this, a PDC report was provided to the appraiser. The appraiser could see that the GLA was inaccurate. The AMC arbitrarily changed the GLA but it was still inaccurate and the appraiser visited the property and measured it themselves. The report was submitted and the AMC requested that the appraiser remove their comment that they visited the property and instead mention the MLS as the source of GLA. Clearly, the fix is in. Likely, FNMA is demanding that the AMCs cleanse reports of any suggestions that the PDC process could be less than infallible.

 

[Surf Cat]

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[alebrewer]

Read the SOW, "(3) inspect each of the comparable sales from at least the street" has been dropped from the SOW Fannie 1004 Hybrid.

Ahh. I called BS on having to drive comps about 15 years ago once we got Google Earth and MLS photos.

 

[Non Sequitur]

Ahh. I called BS on having to drive comps about 15 years ago once we got Google Earth and MLS photos.

You’re not addressing the biggie, why “show your work” for field appraisers but not desk jockeys?

 

[alebrewer]

You’re not addressing the biggie, why “show your work” for field appraisers but not desk jockeys?

Not sure where you're getting that either? Is that in a circular or appraiser update?

 

[Terrel L. Shields]

Maybe that is the goal is hybrids, to make sure it is not completed by a competent appraiser.

If you only have incompetent appraisers doing hybrids, easy to make the case that "all" appraisers are incompetent since "all" of their appraisers are incompetent. Competent appraisers do not need to do $145 appraisals less $20 tech fees. Only the desperate do that.