UAD 3.6 Means More Waivers

[glenn walker]

Ofcourse nobody wants an appraisal?

Why? Potential deal killer.

Why would the mortgage broker, re agent, buyer or seller want a deal killer?

I mean, its not like they are using someone else's money and their paycheck depends on the deal going thru?

Buyers for the most part could care less about the value. Buying a home is personal, subjective, are for the most part not using their on money and mostly depends on getting approved.

Work for a new home builder...you will realize how much cost really matters LOL. The lender sets the a maximum price allowed price/budget..by golly it gets met almost every single time.

Buttt......its not their money! It's not the buyers, the re agent, nor the mortgage brokers. It's not even the GSEs money. It's the investors money....US.

Let's get rid of the home inspection? That's the top deal killer. No one wants that except for the borrower. The only reason they want it is because if something goes wrong, its their money, that they don't have more than likely to fix it.

Credit checks? Nobody wants those either..another top deal killer before any deals are even done.

Normally the home buyer pays and hires his own home inspector and can also interact with him. That's a service where the buyer sees value for the money he pays out unlike the appraisal fee which he pays for but doesn't see any value and is told he can't even discuss it with the appraiser that he paid for.

Then on the purchases where 95% come in at the contract price anyway the buyer really just paid to have the old wing nut confirm what he and seller already knew anyways.

 

[Fernando]

Lenders rely on appraisers to verify property value especially if LTV is very high. Lenders could absorb the cost but usually charge the borrower.
With HELOCs, lenders usually absorb the cost especially when LTV is less than 80%.
Last Line of Credit, I did have an appraiser come and surprise my home value higher than I anticipated.
Also, I had a large cracked on my window (stupid bird and too cheap to replace it) and good thing appraiser didn't mention it.

 

[NC Appraising]

Then on the purchases where 95% come in at the contract price anyway the buyer really just paid to have the old wing nut confirm what he and seller already knew ananyways.

In my opine, that is proof that the system works.

How many times did the appraisal come in low and they renegotiated?

Kinda hard to renegotiate a waiver.

So why try to change it?


$$$$ for the mortgage bankers

 

[djd09]

it is hard to have public trust when their purpose is to steal your data...

 

[glenn walker]

In my opine, that is proof that the system works.

How many times did the appraisal come in low and they renegotiated?

Kinda hard to renegotiate a waiver.

So why try to change it?


$$$$ for the mortgage bankers

Not really you get the waiver $ amount up front and if you don't like the number you can op in to pay and get a full appraisal so there's some flexibility.

 

[djd09]

they can waive any appraisal they want...but only if they pay with cash...why should the taxpayer be stuck with their corrupt lending ways again

 

[gregb]

Anyone willing to take the bait?

Hello!



We’re pleased to announce that the Aivre free beta is now available, providing early access to an AI-powered appraisal platform built for UAD 3.6.



Aivre is proud to be the first software vendor verified by the GSEs to support UAD 3.6, giving appraisers confidence that the platform aligns with the latest data standards and reporting requirements. Our technology was designed specifically to help the industry transition smoothly to UAD 3.6 by improving consistency, reducing manual entry, and streamlining appraisal workflows—while keeping the appraiser in full control of analysis and conclusions.



During the free beta, participants can explore UAD 3.6–ready workflows, test report creation in a GSE-verified environment, and provide feedback that will help guide continued development.



The beta is available for a limited time at no cost. We invite you to sign up and experience how Aivre supports UAD 3.6 adoption with confidence.



If you have any questions or would like a walkthrough of the UAD 3.6 features, please schedule a demo here!



Best regards,



The Aivre Team

 

[Alsie35]

This Jack Lew's outfit? He sent me an email yesterday ... aaand I promptly ... BLOCKED him ...

Abomination 3.6:
JUST. SAY. NO.

 

[Red Flint]

This Jack Lew's outfit? He sent me an email yesterday ... aaand I promptly ... BLOCKED him ...

Abomination 3.6:
JUST. SAY. NO.

No, I do not think the next job step of the ambassador to Israel is incorporating AI into the next generation Form 1004, try Jake Lew, my guess is there is no relation.