UAD 3.6

[Non Sequitur]

One thing Fannie has clearly has not factored into the equation is when appraisers realize the Logan’s Run goal of the new UAD, they will likely encounter mucho monkey wrenches in their state of the art system which will not exactly compliment the efficiency they are pursuing. Train wreck meet Luddite.

We'll find out soon enough, soft roll out is in a few months. It shouldn't take too long to hear how it's going.

 

[J Grant]

I hope you’re wrong, but my gut agrees with you. And it’s not just software, TAF just appointed members of RSDS and Accurity to the board of trustees. They will advocate for their business models, which fall in line with the direction of data collectors in the field and a few appraisers licensed in multiple states signing off on a ridiculous amount of reports daily. And make no mistake about it, those appraisers will be desk jockeys making $20-$30 an hour if that.

What human being would be that STUPID to make $20-$30 an hour (or less in your warped projection ) to be licensed in multiple states and sign off on a ridiculous amount of reports daily? One can easily make $20 an hour now in the most mindless entry-level jobs, including some low-stress work at home on computer jobs. Medical coding and other relatively short course training sees one work from home or in data centers for $30 an hour and up, without all the stress and liability of being a licensed appraiser.

I doubt these entities have the business model your mind invented as a goal. The CDC collectors do the inspection and local appraisers do the appraisal portion. I doubt they have a nefarousl plan to outsource like you believe and what jerk would do that on the appraisal end even if it came to pass.

 

[J Grant]

There is, imo, a new version of "luddite" in play now and it is the opposite of the traditional concept of someone too old or stubborn to adapt to new technology.

The new luddite is someone so impressed by professional copywriting and dazzled by new tech that they believe it can do things it simply can't, which is overturn an entire ecosphere of checks and balances and human involvement, especially when there are govt regulatory issues as part of the mix. This belief that a company called "Value Mate: sounds like nonappraisers who had what they thought was a genius idea to run a 1004 through their system, etc. The same as folks who think AI can do an appraisal within two years (AI can never do an appraisal that is USPAP compliant becaeu an appraisal is an opinion and opinions belong to humans) -

No doubt in the future as AI becomes more sophisticated, it might in later years resemble thought better and synthesize various elements of an assignment, but then again, perhaps not. AI is more limited in what it can do than the sellers of AI will reveal. AI has great potential in some aspects of medicine and research but limited pedestrian limits in other fields, especially creative - or analytical in the human realm of the aspect of appraisal that some seem to never have grasped in th first place - th efolks who as soon as freddie showed a photo of a heat map dots wanted to find out what software would make adjustments for them - and some of them got shot down by reviewers asking fo ran expaplantoin of the adjustments and these folks were clueless. But I purchased the software and clicked just like the instructions!

In my view, AI will in the future be integrated as a tool but not replace human analysis in appraisal and valuation, as long as human beings are the ones buying and selling the properties. This involves messy markets and the impact of financing and individual motivations.

 

[Alsie35]

With everything I am learning I am going over to the side of not doing ANY of the new 3.6 orders til late next year ... and *hopefully*, perhaps - NEVER

 

[jay trotta]

appraisers should create their own forms...that is the definition of independent

True, but then how would they have the ability to steal your moneaaay

 

[jay trotta]

Just like software evolved from a onetime buy to subscription based, we're evolving from local to cloud based. And part of that is the artificial intelligence integration, the computing power is based in the cloud for a large part of the application. Bradford, ala mode, ACI, etc. have different takes on how to fill the form (in the end it's still a form) but from what I've seen all are working on baking in their own versions of scan to sketch and photo recognition. IMO that's why none have a version to test drive yet, integrating all of the tech is a heavy lift. And here's my take, the software winner may be a company we haven't heard of yet (see below):

View attachment 100071

In today's marketplace, there will always be someone ahead of the curve, it's the nature of the beast. There will always people "peeking" here to see a future market share and those who poses those skills, will be ahead of even the Fannies/Freddies of the world.
The problem with all of this nonsense is $$$$, they are seeking ways to get you all out of this business, so they can scam all the loot for themselves and charge whatever Fee they can. Thinking back a few years, when they were charging $500-$900 for a typical appraisal, that would be 100% profit for them, why would they pay you $200? When they can have it all.

 

[J Grant]

In today's marketplace, there will always be someone ahead of the curve, it's the nature of the beast. There will always people "peeking" here to see a future market share and those who poses those skills, will be ahead of even the Fannies/Freddies of the world.
The problem with all of this nonsense is $$$$, they are seeking ways to get you all out of this business, so they can scam all the loot for themselves and charge whatever Fee they can. Thinking back a few years, when they were charging $500-$900 for a typical appraisal, that would be 100% profit for them, why would they pay you $200? When they can have it all.

Imo, commercial work, wit portions of it govt regulated the way mortgage lending work is, will be more vulnerable to tech doing larger portions of the report because if it is private order, there are no regulations to keep it in check and the higher fees allows more $ to go to the tech companies. A party paying $6000 to have a report done where half of more can be AI sourced has more fee to balk at than a $600 res mortgage lending fee (which sadly is the lesser fee the AMC predators split )

Some of the profiteers coming up with magic tech solutions have little or no knowledge about appraisals and the regulatory issues around the mortgage lending end.

 

[Digger88]

It's not a form at all... at least not in the sense that 'form' has always meant to appraisers.

yeah, I mean it's just drop down data inputs from what I gather I don't see the need for a class. Probably going mobile which is fine

 

[chad hampton]

The poster who said this is a bureaucrat driven format is exactly right. That’s all I see in the limited time that I’ve looked at this thing. Reminds me of when I worked in city government except when you working at the federal government level it’s 100 times worse. You have layer and layer and layer of people who are trying to justify their six figure positions. Gotta keep the gravy train rolling.

There’s no more negotiating with these monsters.

 

[Alsie35]

The poster who said this is a bureaucrat driven format is exactly right. That’s all I see in the limited time that I’ve looked at this thing. Reminds me of when I worked in city government except when you working at the federal government level it’s 100 times worse. You have layer and layer and layer of people who are trying to justify their six figure positions. Gotta keep the gravy train rolling.

There’s no more negotiating with these monsters.

A. They're not "monsters", just bureaucrats doing what bureaucrats do. None of them have held a real job in decades (or ever), thus the "Frankenstein Monster" they are imposing on us.

B. There never was any "negotiating" because they held all the cards. We've had a good run, and the only choice we have is to retire (if we don't want to "Go UAD 3.6").

I know its difficult not to "get personal" when someone is messing "in your kitchen" aka with your business, but its better to adapt or ... move on ... getting mad (for someone with no say in the matter) doesn't do anything but to shorten your life.