Waivers, huh?

[Zoe]

what we have here is a failure to communicate you tube - Search Videos

www.bing.com

"What we got here is failure to communicate"

I you have never seen the movie with Paul Newman and many stars you will appreciate the message.

It is relative to the OP.

 

[Tiffany Gibbons]

?

Salary up to $322,000 per year is what I found interesting, lol

 

[J Grant]

So what. Does that change the sale price. Of course not. No more than a waiver changes the sale price

doh
I never said a waiver changed a sale price

 

[George Hatch]

One cliche is that "Bad deals are made during good times". The usage of waivers might end up being an example of that.

I remember the appraisers thinking the usage of ARMs and lax underwriting during the previous RE cycle was of obvious effect on the pricing trends and was also risky WRT safe/sound lending. But inasmuch as those were the prevailing trends at the time the resulting prices were still "it is what it is", both in our appraisals and among the expectations of the buyers and sellers. The price is the price, regardless of the reason why and even when we think it's too high relative what we think it should be.

 

[Tiffany Gibbons]

what we have here is a failure to communicate you tube - Search Videos

www.bing.com

"What we got here is failure to communicate"

I you have never seen the movie with Paul Newman and many stars you will appreciate the message.

It is relative to the OP.

Also work if you've ever heard Guns n Rose's "Civil War", that movie clip is the into to that song. Also, Paul Newman had dreamy blue eyes...

 

[J Grant]

"Anyone" outside of the GSEs can't run any kind of analysis on any of their loans. There's nothing new about that.

WRT your job as an appraiser, you can verify your sales by picking up the phone or knocking on a door just like we started out doing back in the day. If you ever thought it necessary to know.

These waivers have already been in use for years now. They've already shown up in some of your datasets whether you saw them as such or not. You have already not noticed any difference in the pricing that's attributable to the low LTV loans. And judging from the complete lack of questions from you or any other appraisers on this forum about "Low LTV transactions appear to be overvalued", neither has anyone else noticed such a pattern.

In lieu of any indications to the contrary, the Occam's Razor reasoning might make sense.

If the waiver is not disclosed on each individual loan on public records or MLS, how can an outsider run an analysis of the prices by street address?

Again, how many times must I state it, this is not about me or my valuations which I have no problem with whether a waiver was use or not and I can always ask if I think it was used and matters - okay?Do I need to state it ad ininfiutm in every post ?

 

[George Hatch]

What leads you to believe these have been of effect on prices? Anything?

 

[J Grant]

What leads you to believe these have been of effect on prices? Anything?

What I see in my local market and a couple of orders I got for purchases that were cancelled for the appraisal because a waiver was granted, both purchase prices were very high -

 

[djd09]

Have you ever looked inside CU? The CU adjusted values for their comps are all over the place. It is really not good.

are they making 150-250 sq ft adjustments...how about for location

 

[George Hatch]

What I see in my local market and a couple of orders I got for purchases that were cancelled for the appraisal because a waiver was granted, both purchase prices were very high -

So start there. Did those sales alter the pricing trends in their market segment?