Rural Appraiser - new 3.6 UAD issues

[glenn walker]

If anything, it's the LO that will get automated. All they are doing is moving standardized data around (not making any real analysis, etc).

Loan brokers are alive and doing fine because they work on hard loans. The ones in banks are just order takers not real loan officers and yes their already being replaced and laid off.

 

[alebrewer]

Loan brokers are alive and doing fine because they work on hard loans.

No doubt the hard money world will lag the rest of the folks, but that's a very small percentage of the mortgage world.

 

[chad hampton]

The average loan officers were brighter than our appraisers. They have to work hard to get borrowers loans and have both thinking and sales skills.

The residential appraisers were 80% form filled with no real skills except to fill out forms. That's why AI and Waivers are going to end most jobs. The loan officers will be around long after we're all dead.

Good Lord. I will give you that loan officers are hustlers, but give me a break on the rest of it. You can pull a random guy off the street today and he’s a loan officer tomorrow.

 

[gregb]

Good Lord. I will give you that loan officers are hustlers, but give me a break on the rest of it. You can pull a random guy off the street today and he’s a loan officer tomorrow.

Loan officer and realtor remain the among the few "professions" that do not require a four year college degree.

 

[alebrewer]

You can pull a random guy off the street today and he’s a loan officer tomorrow.

Two day class and pass a rather easy exam. I did it for shiggles and gits one time. It's a joke.

 

[J Grant]

Loan officer and realtor remain the among the few "professions" that do not require a four year college degree.

Imo, neither loan office nor RE agents/brokers are a profession - they are sales people- commission or bonus or salary plus quota sales people. They need a license and have some code of ethics but sales is typically not considered a profession.

Res appraiser license does not need a college degree ( but it should require it IMO). At least it requires college or equivalent credits of X hours and an apprentice period before license test. RE sales and far as I know loan officer is a 2-4 week course, pass it and you are licensed.study

 

[glenn walker]

No doubt the hard money world will lag the rest of the folks, but that's a very small percentage of the mortgage world.

Not talking about hard money the mortgage broker's are back biggley
and lots of correspondent lenders out here. The Wells Cargo and others want outside correspondent brokers and processing to cut costs.

It's the in house bank loan officers that are mostly gone. I guess since appraisers haven't dealt with mortgage brokers for many years they thought they had left.

In my area most FHA and Conventional purchasers use and are done by MB. The Hispanic buyers almost always use the Mortgage Brokers and Mortgage Bankers. The appraisers got out of the loop after they couldn't get direct orders from the MBs so kinda out of the loop. The AMC shield's the appraisers and they just become more isolated.

 

[Terrel L. Shields]

Loan officer and realtor remain the among the few "professions" that do not require a four year college degree.

Some states do require a degree for agents. And, real loan officers are usually required to attend banker's classes. The ABA sponsors some and Colorado, LSU, Memphis, and other places are schools that bankers often attend sponsored by their employer.

 

[glenn walker]

Some states do require a degree for agents. And, real loan officers are usually required to attend banker's classes. The ABA sponsors some and Colorado, LSU, Memphis, and other places are schools that bankers often attend sponsored by their employer.

Appraisers don't need a 4 year degree either just 90% never read the alternative requirements. I thought that to for years until my partners Son only had a HS diploma. He got Certifed by taking Gen Ed type clep courses. Lots of misinform on this issue.

 

[J Grant]

Some states do require a degree for agents. And, real loan officers are usually required to attend banker's classes. The ABA sponsors some and Colorado, LSU, Memphis, and other places are schools that bankers often attend sponsored by their employer.

I am unaware of any state requiring a degree for RE agents.
Some RE agents and loan officers are ethical and are responsible professionals.
However, IMO most are borderline in that area - they have to be to make $- the the top agents and loan officers, the high volume producers are hustlers, borderline con artists, charismatic, hard workers and yes but essentially a different breed.