UAD 3.6 discussion

[J Grant]

That's so last month.

Anyway, on planet earth world governments are in a race to win A.I. for economic and military dominance, corporations are investing an estimated $1B daily, data centers that consume more power than small cities are being built as fast as possible, but you think auto filling a form is some sort of monumental task. Good luck.


True, their photo recognition for Q and C ratings was very good, and that was a year ago. As far as the PDC, links will be sent to borrowers before long. No need to pay anyone to PDC.

Never said it was a monumental task. I asked what data they would use to autofill it with and you had no answer. I am well aware of the world race for AI dominance, or a share of it - imo AI will interact with humans in tasks rather than replace them - in many instances.

RE markets are not uniform and predictable - will see what the future holds.

 

[Non Sequitur]

I have yet to see any piece of tech that produces accurate results with regards to an appraisal. Occassionaly they get things right, but not nearly enough to rely on it.

I used to know an appraiser that would let the software scan the MLS and pick his best 3 comps. He'd have me review the comps. I never picked the same 3 he did. Rarley picked 1 of the 3 his computer software picked. Even in the cookie cutter communities.

And that rest.b.AI guy is a serious piece of work.

I don’t disagree. But with most noobs being trained by AMC-Firm hybrids via Practicum classes, and being trained to their systems, tech, and overall philosophy, at what point does the fancy tech become self fulfilling prophecy? Add the “experience doesn’t matter” coming down from on high, will the noobs know or care that the auto fill everything software is off base? Let’s be honest, the $25 an hour Practicum grad sitting in a cubicle having being fed that old timers are tech hating and biased dinosaurs who caused all kinds of mayhem, their A.I. stuff will seem like a gawd. And they will worship it as such.

 

[timd354]

Occassionaly they get things right, but not nearly enough to rely on

Appraisers are not arguing that the appraisal can stop a loss after a default! (or prevent a default ) I am certainly not saying that !

Read my posts, they talk about how the collateral anchors the loan and is used to recoup losses AFTER a default,

Imo, people are way overinvesting in AI that it can just take jobs and start replacing humans.

Go try it out, if any AI can somehow "do" an appraisal (or valuation ) and get back to us on it. an AVM can do a valuation at warp speed, so IDK how AI is going to beat that - though it can learn to do some analysis and write copy about it. An AVM can be very accurate or not accurate from one order to the next.- but what iss the benchmark it is "accurate from?" MV? ( an AVM has no opinoin about MV ) price? that is the flaw of the AVM and of AI as well. MV is a theoretical concept and not a hard fact.

AI is not at the point yet where it can do a credible appraisal, but as much as I hate to say it, there will come a point in the future where drones will do property inspections (or the borrower will scan the entire property using a smart phone app and AI will complete the appraisal report and probably do at least as good of a job as appraisers do today. I hope that future is many years away, but unfortunately that likely is the future.

 

[chad hampton]

AI is not at the point yet where it can do a credible appraisal, but as much as I hate to say it, there will come a point in the future where drones will do property inspections (or the borrower will scan the entire property using a smart phone app and AI will complete the appraisal report and probably do at least as good of a job as appraisers do today. I hope that future is many years away, but unfortunately that likely is the future.

Similar to how it will take over for every other business. If you work in an office, your job will be going away first. Field guys like appraisers will make it a few years more. But sure, everything going away.

And then the bloodshed will start. That’s what I’m looking forward too. Probably cause I’m part Viking.

But in all seriousness, it’s sad to see what “technology” has done to this world.

 

[timd354]

Similar to how it will take over for every other business. If you work in an office, your job will be going away first. Field guys like appraisers will make it a few years more. But sure, everything going away.

And then the bloodshed will start. That’s what I’m looking forward too. Probably cause I’m part Viking.

But in all seriousness, it’s sad to see what “technology” has done to this world.

Yes, people are right to be concerned about AI making a whole lot of jobs obsolete.

 

[Non Sequitur]

I bash aloft for their cost depreciation, but their photo recognition software that rates the comps is pretty impressive. I use smart exchange...what some appraisers rate properties is scary.

I think they have it planned out..a slow and quite death.....the pdc will go out and get the data....the avm will take care of the rest.

Give it ten years.

There will be a couple of appraisers left for when the avm doesn't hit.

10 years? You're being generous. You mentioned Aloft, here's the latest hybrid news:

"Since our acquisition of Aloft earlier this year, we have been grinding away diligently to integrate the teams, the workflows and the technology platforms. With that effort, we find it important to delineate and individually recognize our new offerings.

Today, I'm thrilled to announce the launch of Appraisify, the industry's first valuation technology platform built to fully embrace and capitalize on the strategic benefits of hybrid and desktop valuation offerings, powered by Inspectify's nationwide inspection platform. In a matter of months we have already served thousands of customers with our unique offering and results are staggering; cost savings and SLA improvements up to 60% with equitable quality. And this is just by retooling the Inspectify platform we have built over the years. More impactfully, we will soon be rolling out an enhanced version of Aloft's Toolkit that will dramatically improve this even further by creating a level of objectivity in valuations like no other."

 

[Sadie]

10 years? You're being generous. You mentioned Aloft, here's the latest hybrid news:

"Since our acquisition of Aloft earlier this year, we have been grinding away diligently to integrate the teams, the workflows and the technology platforms. With that effort, we find it important to delineate and individually recognize our new offerings.

Today, I'm thrilled to announce the launch of Appraisify, the industry's first valuation technology platform built to fully embrace and capitalize on the strategic benefits of hybrid and desktop valuation offerings, powered by Inspectify's nationwide inspection platform. In a matter of months we have already served thousands of customers with our unique offering and results are staggering; cost savings and SLA improvements up to 60% with equitable quality. And this is just by retooling the Inspectify platform we have built over the years. More impactfully, we will soon be rolling out an enhanced version of Aloft's Toolkit that will dramatically improve this even further by creating a level of objectivity in valuations like no other."

I think its important to note that Aloft is a technology company that happens to do appraisals.

https://www.appraisify.com/about

 

[J Grant]

10 years? You're being generous. You mentioned Aloft, here's the latest hybrid news:

"Since our acquisition of Aloft earlier this year, we have been grinding away diligently to integrate the teams, the workflows and the technology platforms. With that effort, we find it important to delineate and individually recognize our new offerings.

Today, I'm thrilled to announce the launch of Appraisify, the industry's first valuation technology platform built to fully embrace and capitalize on the strategic benefits of hybrid and desktop valuation offerings, powered by Inspectify's nationwide inspection platform. In a matter of months we have already served thousands of customers with our unique offering and results are staggering; cost savings and SLA improvements up to 60% with equitable quality. And this is just by retooling the Inspectify platform we have built over the years. More impactfully, we will soon be rolling out an enhanced version of Aloft's Toolkit that will dramatically improve this even further by creating a level of objectivity in valuations like no other."

You take this BS copy wrtten by spin docotrs announcements literally - this jaw dropping announcement has already been discussed here see what others said -

 

[djd09]

the woke jokes behind the robot cannot do appraisals...they predicted hillary was going to be president

 

[timd354]

I think its important to note that Aloft is a technology company that happens to do appraisals.

https://www.appraisify.com/about

Why difference does that make? In the end, there are numerous entities that are working on new technologies and AI that are going to put a lot of appraisers and people in other professions and lines of work out of business.