UAD 3.6 discussion

[Fernando]

Quantifying adjustments for "window surface area" freaks me out…
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I can't be distracted by the irrelevants. I need to FOCUS, FOCUS, FOCUS.

 

[Mike Ault]

I suspect many of the fields won't apply in most situations

I can't think of any mortgage lending situation where an appraiser could even pretend to come up with a credible adjustment for that field. I can't believe it's even on a GSE form.

 

[Mike Ault]

I can't be distracted by the irrelevants. I need to FOCUS, FOCUS, FOCUS.

Somebody higher up the decision tree believes it's relevant.

 

[Fernando]

Somebody higher up the decision tree believes it's relevant.

Construction method, Structural Design,.....WTF. Subjective adjustments.

 

[Mike Ault]

Construction method, Structural Design,.....WTF. Subjective adjustments.

No such thing as "subjective adjustments" anymore. They want you to support each and every one. No more appraisers "opinions", just "results" derived from the appraisers "analysis".

 

[J Grant]

One question is: From the new form, there is no separate 1004, 1073 or 1025 form any more. Thus it is put appraiser burden to define the subject is single home, town house or condo.

From what I understand, there is what they call a "dynamic" form- choose a drop-down field of some sort that will define it as a condo, SFR, etc, with appropriate fields for the information pertaining to that property type. I am sure our software companies will offer training on the reforms.

 

[Tom D]

Thank God that all my work is mostly identical little row homes. Seen 1 you seen them all. I see a bear trap for you rural & suburban variations. I predicted a while back that within 1 year of the new uad, most here will not wanna doing them for the same fee. Yous think the cheap AMC appraiser will make a living at more time, same pay.

Anyway, the big question to me is can i make a template. If i have to put info in each block each time, i'm done. Well i have direct lenders. I think they will pay me more for the extra time needed. They don't want dopes doing their work. Still will be part time, but i can go for higher paying, 2 a week, while i do my other new business.

 

[Airstream]

What is the “volume” line? My concern with the new form is they are looking for data that means nothing for a value, will take far more time doing an inspection, but is being used to build databases.

 

[Airstream]

No such thing as "subjective adjustments" anymore. They want you to support each and every one. No more appraisers "opinions", just "results" derived from the appraisers "analysis".

I understand the GSE wanting no “subjective adjustments,” but the reality is not all aspects of a house can be bracketed and some things logically need some kind of adjustment and not to make an adjustment is just dumb. An example is appraising a subject with a pole barn, but none of the comparable sales have pole barns. And good luck using regression analysis in rural areas.

 

[J Grant]

I understand the GSE wanting no “subjective adjustments,” but the reality is not all aspects of a house can be bracketed and some things logically need some kind of adjustment and not to make an adjustment is just dumb. An example is appraising a subject with a pole barn, but none of the comparable sales have pole barns. And good luck using regression analysis in rural areas.

Using judgment is not the same as using subjective judgment. Some adjustments need more explanation, but there is some market evidence that should be seen to support our judgment. Sometimes, reconciling on the higher or lower side of value due to X as a feature or a defect makes more sense than a line adjustment that is difficult to support, especially for small or oddball features.