Waivers, huh?

[djd09]

the unethical stakeholders are proven liars...

 

[J Grant]

So you don't think most appraisers disregard an outlier when they come across one?

When your datasets break down into 2 different pricing tranches that would be a good reason to investigate further.

I told you repeatedly it is not about us appraisers and the comps we use, or me and my being able to separate prices or outliers. How many MORE times do I have to tell you that?

I said that NOBODY ELSE who wants to run a statistical program to see if purchase loans financed with waivers are at the higher prices can tell since it is ot disclosed on MLS or public records

Since a number of loans for purchase are being financed using waters now, and it is very different kind of collateral basement then that used on other conventional loans which use appraisals, I think it should be disclosed on public roads and on MLS the way VA, FHA,,, conventional assuming an appraisal is disclosed - why are you only about transparency in some cases and not others?

 

[djd09]

JPMorgan Fined $348 Million For Failing To Monitor "Billions" In Trades​

"The consequences of these deficiencies include the bank’s failure to surveil billions of instances of trading activity on at least 30 global trading venues"

and let the lenders estimate the value...

 

[chad hampton]

Pay hundreds of millions in fines, but make billions. I'd make that deal - that's a damn good deal!!

 

[djd09]

Violation Tracker Industry Summary Page​

Industry: financial services
Penalty Total since 2000: $386,667,109,902
Number of Records: 7,660
Note: The totals include only those entries matched to a parent company. The industry designation is the primary one for the parent's operations overall. The totals are adjusted to account for the fact that each parent's entries may include both agency records and settlement announcements for the same case; or else a penalty covering multiple locations may be listed in the individual records for each of the facilities. They are also adjusted to reflect cases in which federal and state or local agencies cooperated and issued separate announcements of the outcome. Duplicate or overlapping penalty amounts are marked with an asterisk in the individual records list below.

https://violationtracker.goodjobsfirst.org/prog.php?major_industry_sum=financial+services

trust them...

 

[djd09]

Cuyahoga County home prices up 33% since before pandemic; see details by city​

Cuyahoga County home prices up 33% since before pandemic; see details by city

cleveland.com analysis finds home prices up in every city and village in Cuyahoga County since ahead of the pandemic in 2019

www.cleveland.com

it is good thing they cut the mortgage broker out of the loop...now go watch lowballed

 

[George Hatch]

Same in Riverside, CA. Median prices are up by 33%.

 

[NC Appraising]

Okay.....my 5 cents worth.

Can we all agree that waivers are somewhat new, at least in their current form and push?

Can we agree that the above data does not include hybrids.

The majority of my Lenders did not even start using waivers and hybrids until the summer and fall.

So, coming on here and saying that waivers (AVMs) or hybrids are minimal, is premature at best.


For example, I have been on this forum warning that these products will come to the market since +- 2014 (mostly AVMs). I can even remember Terrel and others being in denial saying that appraisers have been saying this since 2000 about AVMs, which I have always found funny.

Again, these products are still new for the most part. So, take Google, Tesla, Facebook, Iphone or Bitcoin for example. I am sure that when these companies hit the market, no one thought that these companies or products would dominate the market. Sure, a few did, and they are now millionaires.

Looking back, there are millions of people wishing that they had bought stock in these companies and said I never thought that they would grow so big to dominate the market.

So, to come on here and say that "look, these products only account for x amount of the market share" is somewhat misleading given that these products are still in its infancy stage. This is how good politicians and salesmen work. Nothing to see here....trust us.

Lastly, we have some from the GSEs already telling us that the gravy train for the easy orders are almost over. They are telling us that the full traditional 1004 will be for the complex orders for the most part. They even put out a chart.


All of these products are in the infancy stage and will slowly take more and more of the market. Come back here in 5 years and prove me wrong.

https://www.fanniemae.com/sites/g/files/koqyhd191/files/2022-04/mod-valuation-spectrum.png

https://singlefamily.fanniemae.com/media/33581/display

https://singlefamily.fanniemae.com/...elivery_job_aids__appraisal_modernization.htm traditional appraisal......last.


https://www.fanniemae.com/research-...journey-efficient-fair-home-valuation-process Give it time.....these products are still babies.

 

[djd09]

I also took-away this: Other than the consistency check, CU is not a threat to appraisers.

Collateral Underwriter

Last Friday, in San Francisco, I was part of my local AI Chapter's Fall Conference event (65th year). This is a daylong event that is divided into a general session, and then break-out sessions lasting 1.5 hours each. I moderated a panel on CU and had two guest speakers, both work for banks...

appraisersforum.com

i call that misinformation...or just a conspiracy

 

[djd09]

Same in Riverside, CA. Median prices are up by 33%.

and yet...no petition for value pressure