The Old 1986 Forms

[George Hatch]

I typed out thousands of these in the 1980s on my Juki with micro adjust to get the “X” centered in the box. I had multiple pinwheels such that I could switch to a smaller font when needed.
Three comps and out with no fluff addendums or photos of the CO or water heater. I’d guess loan losses due to appraisals are no worse then than now.

We paid a typist $1/page, usually with overnight service. She was a retired secretary who typed for several of the small fee shops.

When I worked at the bank I made a side deal with one of our "admin. asst" to type off of dictation. If I did all of my calculation pages by hand and knew what I wanted to say I could dictate a narrative in about 30 minutes.

 

[Terrel L. Shields]

No need photo, no need too much comments

actually there was a map with the arrow to the subject and a picture of the front and street of the subject. No comp photos.

 

[Raven59]

We paid a typist $1/page, usually with overnight service. She was a retired secretary who typed for several of the small fee shops.

When I worked at the bank I made a side deal with one of our "admin. asst" to type off of dictation. If I did all of my calculation pages by hand and knew what I wanted to say I could dictate a narrative in about 30 minutes.

$10 per report but it might several days to get back

 

[Mark K]

... I’d guess loan losses due to appraisals are no worse then than now.

Many of the clients kept the loans in-house so they were careful about who they loaned money to. Repo's were few and far between.

A bank I did thousands of appraisals for generally made money on their repo's since they had an 80% max LTV.

 

[Tom D]

don't forget, the form was on legal sized paper, mailed in legal sized envelopes. that was before office max/staples. legal sized anything was not cheap. maybe because they were so big, never 1 got lost in the mail. which looking back is amazing. the mostly hard part was saving the paper file for years. and then when you had to look for one, you couldn't find it. and i don't ever remember a stip, too much trouble to retype the whole report & mail it back. in those days if the loan processors liked you, you got all their orders.

 

[DWiley]

and i don't ever remember a stip, too much trouble to retype the whole report & mail it back.

Oh, we had "stips" back then . As I remember, back in those days what are now called "stips" were often handled via a letter of addendum.

 

[John Hassler]

Oh, we had "stips" back then . As I remember, back in those days what are now called "stips" were often handled via a letter of addendum.

I maybe wrote one or two addendum letters a year back then. It was an exceedingly rare event.

 

[Terrel L. Shields]

don't forget, the form was on legal sized paper, mailed in legal sized envelopes

This particular one was on a rather heavy cardboard, and the first forms I used were the same form but green paper and heavy weight paper but not cardboard thick. Forms & Worms. My first printer was dot matrix - I never did the typewriter thingy. Lining them up was a PITA. Then I got a Star laser printer - wow... 1 page every 4 minutes.

 

[JM2187]

Early 90's, working for a national AMC, a normal day would include opening and organizing several hundred or so Fed Ex packages each day stuffed with these and 704 drive by forms, which included gas station maps with arrows taped on, and occasional loose envelopes full of unmounted (and frequently unlabelled) photos that we were supposed to figure out. The tech saavy appraisers used fax machines, but whent I started most called in the values over the phone, and gave a clerk some of the report data prior to shipping the final copy. A "verbal."

We'd have to go through stacks of reports, nearly all were still hand typed, sometimes covered in white out, the math never added up, signatures were missing, every client wanted comments about well/septic and land value over 30%, which were rarely there, and we'd argue with appraisers about PUD boxes and Flood Hazard zones over and over. Any revision took days to get back. The reports reeked of cigarette smoke too, although smoking was still allowed indoors even at the AMC back then. Glory days.

 

[Terrel L. Shields]

which included gas station maps with arrows taped on

I have an old 1942 state map...Maybe I should use it for maps now