Why the New UAD is DOA

[alebrewer]

That’s what they claim, I spoke personally with the chief appraiser and that’s what he said. But consider the company: Have they kept the pricing of AppraisalPort the same? Have they kept the pricing of Marshall and Swift the same? Have they kept the pricing of anything the same?

If I were a betting man, they may wait to try to gain market share. But anyone who thinks Cotality isn’t going to raise prices is living in a dreamworld.

I mean - we can make up conspiracy theories, but that's all they are at this point, no?

 

[Alsie35]

That's more of less what I assumed. I've always appreciated DWiley for participating in the forum through the years. He contributes a great deal and his input does help individual appraisers with day to day appraisal questions.

Yes *BUT*

"I was just following orders" - while willingly taking part in the extermination of your former profession - is hardly a morally redeeming position to take, any more than it is a legal defense in some other contexts.

 

[alebrewer]

Unless they're breaking the law, why would they need legal defense? (that's a rhetorical question, as I believe 35 has me on ignore)...

 

[J Grant]

I believe that ALAMODE has a version of 3.6 that can be used now,, wrt to "bringing their product to market, " I think they are still trying to make it more functional.

These start-up companies can talk big, but in use, will their version of the software work any better? If it is substantially better, they can win, if not, it is empty promises. One thing I like about ALAMODE and perhaps the other big providers offer as well, is live real-time human tech support. So many companies now have just a chatbot and no way to reach a human.

 

[J Grant]

If software companies raise prices, appraisers have to raise our prices.

UAD 3.6 is not going to increase volume and thus income to appraisers, and it is not going to increase loan volume and thus profit to lenders either. It is one big expensive time-consuming PITA for h appasiers and lenders. I can not see how it benefits appraisers or lenders, despite the usual PR spin as usual about efficiency and risk.

I do believe the GSE's will benefit by the the greater depth of data collection. And the AMC's might benefit in ways as yet unseen - they have been the beneficiary so far from "appraisal modernization."

 

[J Grant]

Yes, *BUT*

"I was just following orders" is not a morally redeeming - or legally defensible - position.

I think there was innovation and support of policies that marginalized appraisers, not just cog in wheel going along with a program. Which is fine, their allegiance is different than ours. - In exchange, they get some negative feedback. Still, respect for showing up.

 

[chad hampton]

Not terribly well thought out. Typical for bureaucracies. I wonder how much money all the software providers have already put into this disaster? Have the GSE paid that bill so far?

 

[J Grant]

Not terribly well thought out. Typical for bureaucracies. I wonder how much money all the software providers have already put into this disaster? Have the GSE paid that bill so far?

I don't feel sorry for the software companies, backed by deep-pocket corporations. I feel sorry for us. Any delays or issues will be blamed on the appraisers for being slow to adapt and not tech-savvy enough and so on..

 

[alebrewer]

Best get out while you're ahead.

 

[alebrewer]

That’s what they claim, I spoke personally with the chief appraiser and that’s what he said. But consider the company: Have they kept the pricing of AppraisalPort the same? Have they kept the pricing of Marshall and Swift the same? Have they kept the pricing of anything the same?

If I were a betting man, they may wait to try to gain market share. But anyone who thinks Cotality isn’t going to raise prices is living in a dreamworld.

Just got this back from Jake: