ValueNet

[George Hatch]

chicken or the egg

We can't get the fees and market share we want because the readers won't have enough confidence in the work unless we add more content, and we won't add more content because the lenders refuse to pay for the additional effort it takes to engender more confidence in our work.

We can't sell what we won't build.

 

[DWiley]

chicken or the egg

We can't get the fees and market share we want because the readers won't have enough confidence in the work unless we add more content, and we won't add more content because the lenders refuse to pay for the additional effort it takes to engender more confidence in our work.

Eggsactly. That is why I have considered adding assignment conditions, but have been reluctant to do so. It is the GSEs who must take the lead on requiring such content - it cannot be accomplished by a single AMC or any other user or user group.

 

[TRESinc]

chicken or the egg

We can't get the fees and market share we want because the readers won't have enough confidence in the work unless we add more content, and we won't add more content because the lenders refuse to pay for the additional effort it takes to engender more confidence in our work.

that's certainly not the case for me, but then again i don't live off low hanging fruit.

 

[ucbruin]

chicken or the egg

We can't get the fees and market share we want because the readers won't have enough confidence in the work unless we add more content, and we won't add more content because the lenders refuse to pay for the additional effort it takes to engender more confidence in our work.

We can't sell what we won't build.

Eggsactly. That is why I have considered adding assignment conditions, but have been reluctant to do so. It is the GSEs who must take the lead on requiring such content - it cannot be accomplished by a single AMC or any other user or user group.

that's certainly not the case for me, but then again i don't live off low hanging fruit.

Holy crap Batman, Robin and Alfred.....

I thought appraisers set their fees....

 

[Joe Flacco]

It is more than chicken or the egg. With majority of appraisers being independent it is impossible to get everybody to add more content or get everybody to elevate analysis and reporting. It is a profession structure issue. You need big local firms with everybody in house where decisions like that are made.

It doesn't matter if you can get 5%-10% of appraisers to do it.

 

[George Hatch]

Users decide what they want to buy. That's why Danny referred to pitching the idea to the GSEs (aka the buyers) and why he said that the AMCs and appraiser groups (the sellers) won't be able to do it. 5,000 different versions of "better" will be wholly unusable by the users and therefore unmarketable to those users.

Those appraisalware vendors you guys are spending thousands of dollars a year to support? This is where they could step up and do some innovation of their own. What we're talking about here is explicitly an SR2 issue. If they did it we might be able to reduce the number of different versions of "better" to only 4 or 5.

Whoever sets the standard that resonates in the market runs the table; everyone else has to scramble to keep up.

 

[ucbruin]

Why can't any AMC dictate to their staff and panel what the AMC wants in their reports and or in their profiles....
Drivers license is a perfect example of what an AMC can require on its own....

 

[Eli]

It makes you wonder how many loans have been bought back by lenders on appraisal issues. Wait til the market turns. That’s when the crap will hit the fan for appraisers and lenders.

The GSE’s don’t have enough money to even put a dent in covering their ***.

 

[Joe Flacco]

Users decide what they want to buy. That's why Danny referred to pitching the idea to the GSEs (aka the buyers) and why he said that the AMCs and appraiser groups (the sellers) won't be able to do it. 5,000 different versions of "better" will be wholly unusable by the users and therefore unmarketable to those users.

Those appraisalware vendors you guys are spending thousands of dollars a year to support? This is where they could step up and do some innovation of their own. What we're talking about here is explicitly an SR2 issue. If they did it we might be able to reduce the number of different versions of "better" to only 4 or 5.

Whoever sets the standard that resonates in the market runs the table; everyone else has to scramble to keep up.

I get what you are saying and that is true. I am just not sure the user side understands residential real estate and / or data based on ideas coming out of them. Software / reporting platform is definitely the best place to make across the board changes to product.

 

[djd09]

It makes you wonder how many loans have been bought back by lenders on appraisal issues. Wait til the market turns. That’s when the crap will hit the fan for appraisers and lenders.

The GSE’s don’t have enough money to even put a dent in covering their ***.

That's right. Why do they want to switch the game now. Many many years of abusing the system.