One more nail in the coffin...

[Terrel L. Shields]

I have never heard anyone say that in regards to a GSE hybrid.

I am pretty confident that I am recalling that correctly and it was brought out either here or on FB forum. One of the AMCs who was touting the hybrids were claiming an appraiser could do form online in 45 minutes. And this from good old Google.

 

[CommonSense]

Is Parea Still a thing. If so why?

 

[DWiley]

I am pretty confident that I am recalling that correctly and it was brought out either here or on FB forum. One of the AMCs who was touting the hybrids were claiming an appraiser could do form online in 45 minutes. And this from good old Google.

View attachment 96386

Well if you saw it on FB it must be true

 

[Charles West]

That's what was claimed when I was doing these hybrids before I hung my spurs up. $65 fee, and it will only take an hour. The last one I did took six hours, which means I did it for practice and zero compensation.

 

[Sadie]

Is Parea Still a thing. If so why?

I think it is. Because with the AMC's in charge, a supervisory appraiser can't make enough money to pay a trainee. And since trainees aren't known to be independently wealthy, they need to be paid.

 

[Mejappz]

Remember what Fannie's Senior Director of Collateral Policy said about hybrids recently?

"...– typically the most experienced and knowledgeable appraisers who appreciate the efficiency and profitability of hybrid appraisal assignments.”

Profitable?



View attachment 96379

I beat you. LOL

 

[DWiley]

That's what was claimed when I was doing these hybrids before I hung my spurs up. $65 fee, and it will only take an hour. The last one I did took six hours, which means I did it for practice and zero compensation.

Some of the proprietary hybrids can be done in an hour or less. I know that with 100% certainty. I also know that comparing those types of hybrids to the SOW and the degree of reporting required for a GSE hybrid is comparing apples to oranges.

 

[chad hampton]

When the push started for these things a few years ago, that was stated at every stakeholder meeting I went to, they should take 45 to 60 minutes tops. And appraisers would now be able to make $100 an hour.

Complete snake oil. I do have to give some of them credit, I know they don’t believe what they say, but they never stray from the talking points they were provided.

 

[Terrel L. Shields]

I also know that comparing those types of hybrids to the SOW and the degree of reporting required for a GSE hybrid is comparing apples to oranges.

Do you think the AMC will treat them differently? Of course not. One fee fits all...

 

[Mejappz]

Do you think the AMC will treat them differently? Of course not. One fee fits all...

I have another one in the stack hybrid for $120.00 minus a $7.50 "tech fee." The house is listed for $4,000.00 with a 24-hour turn time.