The truth is revealed. Worth listening to.

[Joe Flacco]

I don't know for 100% either.

by law, the gses are not even required to use appraisals. The gses total market is around 50%.


The reason I post this type of stuff is for knowledge, for discussion and for people in the actual loop (several employees of the gses) and others to come on here to 1. Prove me wrong. 2. Call BS. 3. Change my mind.

For example, in the podcast, I had to re listen where he said that in the future, appraisers would be doing the pcr section and not the valuing section.

I thought that was the exact opposite of what we have been hearing...that we would be the market analyst doing desk tops using pcrs.

But, I thought is he on to something? Remember the GSEs flowchart? Waivers... desktops...hybrids....then traditional for complex properties.

Then you have the top guy at fannie saying that he thinks hybrids will be a very small niche....

So which is it? My question for appraisers doing the PCRs...why? Doesn't make much sense. Cheaper and more supply to use agents...they are a dime a dozen.

Near the end.

If the GSE share is 50%, how much of your business is in the other 50%? There is a whole another 50%. And that is only for lending. It doesn't include legal and accounting uses.

I don't see the point of clinging on to the 1/3 of the pie that are the lowest payers anyway. It's no secret that they want cheap and fast. It doesn't matter who the GSE say are going to do what. Their goal is cheapest and fastest as possible.

Have to focus on the good 2/3 of the pie.

 

[Joe Flacco]

And the new appraisers that will be trained specifically for GSE use? Forget about it. 95% of them will never get out of that 1/3 of the pie.

 

[Fernando]

The Appraisal Foundation need to be more proactive in what role PDC plays in appraising. PDCs can collect data but do miss the nuances when seeing a property.
AQB needs to do its job and clarify the role of PDCs and not let GSEs dictate how appraisals should be done.

 

[Terrel L. Shields]

Everybody is so focused on how to do more volume and how to do it faster.

Doing it faster does not increase the number of assignments does it?

 

[Tom D]

New and our younger appraisers are still not going to survive in the future. How many here saved enough money to get thru the last bunch of slow years. The fed reserve cycles is what creates all the problems, and that will never end with the current fed. The fed reserve and gov over spending has probable gone past the return of economic safety point.

 

[Joe Flacco]

Doing it faster does not increase the number of assignments does it?

It depends on how cheap you are. I think some people might have unlimited orders.

 

[Terrel L. Shields]

I think some people might have unlimited orders.

My point is that there is only X number of appraisals because only X number of estates, condemnationa, and loan appraisals exist in any given time period.