UAD 3.6 discussion

[glenn walker]

You can't staff enough for a refi boom. When that happens they will taste it and be hated by the lending industry. Then by the time they hire up.. the boom is over.

It will all be inspections only for a small fee and AI will do the valuation. This is all just the uncomfortable transition which will be rapid.

There are no required appraisals on existing no cash out just rate and term refinancing on most Fannie/Freddie FHA and VA products. Those have kinda like built in waivers. Therefore the next refinance boom won't give appraisers the volume of past refinance booms. Also the use of other non full 1004 is available on low cash out product's.

 

[Non Sequitur]

You can't staff enough for a refi boom. When that happens they will taste it and be hated by the lending industry. Then by the time they hire up.. the boom is over.

It will all be inspections only for a small fee and AI will do the valuation. This is all just the uncomfortable transition which will be rapid.

They are staffing up now. But you are correct about one thing, anything close to the last boom will be absorbed by waivers and hybrids.

 

[Essexfenwick]

They are staffing up now. But you are correct about one thing, anything close to the last boom will be absorbed by waivers and hybrids.

Hybrids will have no appraiser just an inspector and AI will do the rest

 

[timd354]

That stings, but our food is better.

Food in Louisiana is indeed totally great, but Maryland has great food too with Baltimore being a really great food town.

 

[J Grant]

Hybrids will have no appraiser just an inspector and AI will do the rest

A hybrid is an appraisal and it needs an appraiser - otherwise it is something else.

How may years will it be until "AI can do the rest?"

And that assumes those in charge will just let AI fill in a form and value-

 

[Essexfenwick]

A hybrid is an appraisal and it needs an appraiser - otherwise it is something else.

How may years will it be until "AI can do the rest?"

And that assumes those in charge will just let AI fill in a form and value-

It easily can do the appraisal or "valuation" now. Just needs the data input however it can get it.

It's been 18 years since the last time they got their beer muscles for appraisal replacement. They had the ability to do it in 2007 and were moving quickly but got slapped into Parkinson's by the mortgage meltdown and slowly have been rebuilding the beer muscles into a steroid infested data center energy absorbing behemoth that is ready to go. So we've had 18 years of gift.

 

[Essexfenwick]

Food in Louisiana is indeed totally great, but Maryland has great food too with Baltimore being a really great food town.

Yep Crabcakes, Chesapeake Oysters, Maryland Crab Soup, Rockfish, Smith Island cake, Maryland Fried Chicken, Maryland Rye Whiskey, Boardwalk fries with old bay and malt vinegar, stuffed ham, and the best of all Pit beef sandwiches with thin sliced onion/tiger sauce, Orange crush cocktail.

 

[J Grant]

It easily can do the appraisal or "valuation" now. Just needs the data input however it can get it.

It's been 18 years since the last time they got their beer muscles for appraisal replacement. They had the ability to do it in 2007 and were moving quickly but got slapped into Parkinson's by the mortgage meltdown and slowly have been rebuilding the beer muscles into a steroid infested data center energy absorbing behemoth that is ready to go. So we've had 18 years of gift.

Really?
There is no AI program now that can do an appraisal. Developing it would take intense training it and large language learning - millions of $ - yes it can input data but so can other programs.

Unless an appraiser develops the MV opinion and signs it , the valuation is not an appraisal - hybrids are an appraisal where the inspection portion might be done by another party

 

[timd354]

Yep Crabcakes, Chesapeake Oysters, Maryland Crab Soup, Rockfish, Smith Island cake, Maryland Fried Chicken, Maryland Rye Whiskey, Boardwalk fries with old bay and malt vinegar, stuffed ham, and the best of all Pit beef sandwiches with thin sliced onion/tiger sauce, Orange crush cocktail.

I love all of those things and have a particular fondness for the Baltimore Pit Beef sandwich and rockfish, which we ate just about every Friday when I was a child as it was really good and inexpensive until they overfished it prior to necessary regulations being put into place. The Orange crush cocktail, invented at the Harborside bar/restaurant in West Ocean City is definitely a great summer drink. Another thing that you left of the list that is difficult to find outside of Maryland and N. Virginia (though it is not a Maryland dish per se) is Peruvian chicken....I was happy as heck when I discovered that Sardi's opened a location in the Philly suburb of Bala Cynwyd, which is only 10 minutes from where I live now, so I can get my Peruvian chicken fix anytime I want without having to make it myself, which is what I do at sometimes since I discovered that I can get the Peruvian Aji Amarillo pepper paste that is needed to make it by buying it on Amazon.

 

[Surf Cat]

Hybrids will have no appraiser just an inspector and AI will do the rest

Wait.... I thought you were the one with the SRA designation. Or, is that someone else?