We literally had a tech company whom works with default management companies nationwide telling us they place the entirety of the inspection duty on realty sales agents. That they were going with 100% remote hybrid for appraisers ‘because that appeared to be the direction FNMA was moving’. Can’t make it up, notable bias and unfair practices already implemented. As if this tech company should be in charge of detailing the appraisal requirements for the entire lending and default management industry. All the other vendors, same traditional engagements, but absolutely crush the appraisal position. It’s not a coincidence. These companies are heartless, and borrowers at the end of the line whom get foreclosed on get absolutely crushed on the back end with no protections. The independent 1004 reo appraisal service was among their last line of defenses to at least minimize losses. So the lender and interested party realty agents would not be motivated to take the whole stack to give to their investment buddies at extreme liquidation value, even if such a discount was not warranted and the home left in decent shape. Thank you Homogenius / Radian.

Functional obsolescence! Hats off to Jeremy and the cosmic cobra. Based.

Now do hybrids next!

This is absolutely ridiculous! What a joke!