UAD 3.6 discussion

[Flakey]

SFREP is hosting a live webinar tomorrow night on UAD 3.6. Might be interesting.

 

[Non Sequitur]

Back to the task at hand. None of this is designed for indie appraisers, it's designed for scaling the process and system. You can't scale by herding thousands of individuals. Just look around, the answer isn't to hard to find.

As for templates; How long have the hucksters been pounding the drums insisting there are no more forms, 3.6 is "dynamic?" Truth is templates and dynamic don't work well (if at all) together. And now that a few software providers are releasing practice versions, jump in and find out for yourself who has been yanking your chains for the past 12-24 months. Or not.

 

[DWiley]

Truth is templates and dynamic don't work well (if at all) together. And now that a few software providers are releasing practice versions, jump in and find out for yourself who has been yanking your chains for the past 12-24 months. Or not.

Anyone who cannot figure out how to set up a template isn't trying very hard to figure it out. I have created several in the testing I have done.

 

[Joe Flacco]

I think template probably means different things to different people.

 

[Non Sequitur]

Anyone who cannot figure out how to set up a template isn't trying very hard to figure it out. I have created several in the testing I have done.

Hmm. Maybe it’s not as dynamic as we were led to believe. Color me surprised.

Either way ladies and gents, download a test version and decide for yourself. But be warned, none of them are street ready yet and don’t include most of the razzle-dazzle that will come at a later point.

 

[DWiley]

Hmm. Maybe it’s not as dynamic as we were led to believe. Color me surprised.

Either way ladies and gents, download a test version and decide for yourself. But be warned, none of them are street ready yet and don’t include most of the razzle-dazzle that will come at a later point.

Oh, it is VERY dynamic. But that has nothing to do with the ability to set up a template. I created one for an SFR, one for a townhome style condo and one for a highrise condo just to test it out. And, if I started a report using my townhome condo template I could change it to a PUD with just a few clicks.

My guess is that most will begin by basically recreating the existing forms by creating a SFR template (equivalent to 1004) and a condo template to begin with, and then add other templates as assignments come in. I think that will feel "familiar" to them. But that is just a guess - there may be a far better way.

 

[Joe Flacco]

I havn't updated total since 2022.

 

[Joe Flacco]

Oh, it is VERY dynamic. But that has nothing to do with the ability to set up a template. I created one for an SFR, one for a townhome style condo and one for a highrise condo just to test it out. And, if I started a report using my townhome condo template I could change it to a PUD with just a few clicks.

My guess is that most will begin by basically recreating the existing forms by creating a SFR template (equivalent to 1004) and a condo template to begin with, and then add other templates as assignments come in. I think that will feel "familiar" to them. But that is just a guess - there may be a far better way.

But what kind of info does the template include?

My template is basically just the outline of the addendum.

 

[DWiley]

But what kind of info does the template include?

My template is basically just the outline of the addendum.

I set one up for a SFR in my area, and I included things like the most common foundation type, most common roofing, most common exterior materials, most common parking, etc. I don't see anything preventing anyone from including as much or as little as they prefer. And, though I did not allow appraisers to clone prior reports, I did it just to see that it could be done.

 

[Fernando]

untrue. Conventional shorter-term loans in the non-conforming markets can be cheaper interest rates. I just saw one for 4.05% 10 year term. And adjustable rates are even lower. 3 year ballon.

The last mortgage I had was years ago but secondary market wanted no shorter than 15 years - and $5000 closing costs. I went with a commercial loan at 5% (just above secondary market with under $1000 in fees and a 7 year term. The fees alone made up the difference in interest rate.

Of course 15 year loans have better rates. I always had 15 year loans.
Everybody would want the lower rates but most can't afford the payments.
Thus secondary market offers the 30 year which is most affordable with lower monthly payments.