What is the outlook for fees as UAD 3.6 comes on line?

[Essexfenwick]

If everybody refuses to do the new form they would break in a month

 

[Non Sequitur]

If everybody refuses to do the new form they would break in a month

Sadly, that's long enough to outlast most appraisers. Our industry has been starved for so long most appraisers would break in less than a week.

 

[glenn walker]

If everybody refuses to do the new form they would break in a month

Nope not even close. Remember the Fed's provided the GSE and Money Center Banks with the Deminimus $$ loophole that any FRT loan's under that amount don't legally even require an appraisal.

In times of a threat they could request and get that Deminimus raised to say a hypothetical $1 million plus.

BINGO NO appraisals even required. In fact the best day the Money Center Banks would ever have may be the appraisers threatening to shut down the markets.

That's the National excuse they can use to end appraisers once and for all. Lmaooooo

 

[Scott Yeager]

Nope not even close. Remember the Fed's provided the GSE and Money Center Banks with the Deminimus $$ loophole that any FRT loan's under that amount don't legally even require an appraisal.

In times of a threat they could request and get that Deminimus raised to say a hypothetical $1 million plus.

BINGO NO appraisals even required. In fact the best day the Money Center Banks would ever have may be the appraisers threatening to shut down the markets.

That's the National excuse they can use to end appraisers once and for all. Lmaooooo

Yep.

 

[Scott Yeager]

He who hesitates............

Do It Now.........

Not sure if that was tongue-in-cheek, or if that's your honest advice. But, you may be on to something.

 

[glenn walker]

Hell you can't get ten appraisers on the AF to even agree on is it a C-3 or C-4 Uad condition rating in another thread, but now their going to organize a National fee strike and shut down the bank's and the lenders. Just saying : )

 

[Non Sequitur]

Nope not even close. Remember the Fed's provided the GSE and Money Center Banks with the Deminimus $$ loophole that any FRT loan's under that amount don't legally even require an appraisal.

In times of a threat they could request and get that Deminimus raised to say a hypothetical $1 million plus.

BINGO NO appraisals even required. In fact the best day the Money Center Banks would ever have may be the appraisers threatening to shut down the markets.

That's the National excuse they can use to end appraisers once and for all. Lmaooooo

Eh, GSE loans aren't FRTs and de minimus doesn't apply. IIRC appraisals are required somewhere deep down in GSE regulatory bowls because of loan ratio and private mortgage insurance requirements? But I do agree with the overall sentiment, it wouldn't take long and bye-bye appraisal requirements.

 

[sputnam]

Seems like more work. Will fees rise commensurately? I ask because I do not have a good feeling about its overall effect on how lucrative the appraisal business will or will not be. Throw in the threat of AI co-opting the industry in the long (short?) term and...oi vey.

After 20 years, I am seriously thinking about hanging it up. I also have an inspector's license and a pretty great related opportunity awaiting in that field. I'm getting closer and closer to making the shift.

Thanks for any insight.

RSY

We will have to wait and see. Appraisers will want fees to increase. Lenders will want them to stay the same or decrease. There will always, unfortunately, be appraisers who will work cheaper in order to get the assignment. This is a much bigger change, but we have seen changes from the GSEs many times. 1004MC, ANSI, etc.

 

[Essexfenwick]

Nope not even close. Remember the Fed's provided the GSE and Money Center Banks with the Deminimus $$ loophole that any FRT loan's under that amount don't legally even require an appraisal.

In times of a threat they could request and get that Deminimus raised to say a hypothetical $1 million plus.

BINGO NO appraisals even required. In fact the best day the Money Center Banks would ever have may be the appraisers threatening to shut down the markets.

That's the National excuse they can use to end appraisers once and for all. Lmaooooo

So I guess if you try and raise fees

Bingo NO appraisals.

 

[chad hampton]

Hell you can't get ten appraisers on the AF to even agree on is it a C-3 or C-4 Uad condition rating in another thread, but now their going to organize a National fee strike and shut down the bank's and the lenders. Just saying : )

Appraisals are opinions. Why would they all have to agree?