You can standardize forms. You can’t standardize judgment.

That’s a big theme in Mein Comp: The Last Appraiser. The profession isn’t being replaced by technology. It’s being buried under it.

I’m with you. After 30 plus years, this just makes it that much more of an easy decision to retire. This new form smacks of turning appraisers into data farmers for the algorithms that will soon put ALL appraisers out of business. Good luck to all.

The various ai software proponents are making lame arguments on reddit and the af about how the ‘art’ part of appraisal, the personal judgment, is now irrelevant, and the ‘science’ part, driven by AI is now the only factor worthy of consideration.

The people pushing their proprietary patented for profit softwares have declared, professional licensed appraisers judgment and decades of training is now irrelevant. They’ve got their for profit black box proprietary algorithms instead. (Thanks Tony.)

You’ll just have to trust them all to be honest this time around.

To Ai driven and they are worried that their appraisers who are vey familiar with the local market will be driven to use comps that would not normally be considered as good comps to the subject property.

UAD 3.6 Goodbye Appraisers Judge Hamp makes his prediction for the future

What are they saying? Thanks.

AGREE. Local lenders I work with are not happy about the new forms… neither am I. After 38 years in the business I will be DONE.

Same here. I will retire once the new forms are mandated. Unfortunately, as I have loved my work and good at it.

Can the new URAR be used for non lender appraisals?
No per the GSE’s who developed the new URAR. Much of the data they want does not apply to non lender appraisals.

Response: Then why is that data included and demanded? If a piece of data does not apply to ‘non lender appraisals’ why would it be relevant to the appraisal valuation process? More scope creep. Real property valuation service should be a generally uniform endeavor with a standard process applicable everywhere at all times. Because; Market value is market value is market value. The notion that more data is needed with one certain client, to come about credible assignment results, but less data is required with the same client when issuing a similar loan under another program, that same data is now not needed for credible assignment results, this defies normal logic.

And somehow magically this creates a different scenario where amc’s will not exploit appraisers? She’s advising; We’ll have to wait until after full implementation to see how amc’s pay more reasonable fees or not. / Keep dreaming. The amc’s response is predictable and almost certainly guaranteed; They’ll shop for discount service more aggressively then ever and will prefer even more than they do today; appraisers whom cut corners, break rules, and outsource every possible aspect of the form filling and appraisal duty requirements elsewhere. Why do they even think there will be volume in the first place, when everything under 98% ltv’s will be run through hybrid and pdc programs.

The whole thing with new forms is a song and dance to distract appraisers from a complete shift to automation, and will most certainly be used as a justification to say lack of appraisers again, and full avm automation is needed. That’s why the avm final rule was rushed through. The PAVE task force was nothing but a ruse to justify departure from existing regulatory guidelines to implement an all new program where ‘value’ is determined by black box internally controlled avm systems only the lenders know the details regarding. The general public; well, they’ll just have to trust them. I liked Mr Bagotts article today highlighting since 2020 an over 50% increase in home prices. FNMA is the main player, they’re affecting price and value down the line everywhere, even if other entities do not adopt the new process, they’re still affected by the data cancer.

See attached stats from March 2009. Eye-opening.

It is simply assumed by the woke regulation types that we ARE biased regardless of the lack of evidence and the reality that 99.99999999999% of us don’t even think about the races of people involved in what we do. And, of course, the people who provide appraiser education can create another useless course, make it mandatory and charge us for it. And the attorneys who prey on us can have one more trip wire set to blow us to bits in court. It all has little or nothing to do with reality, you know, like much of appraising these days.

Always look for opportunities! AI is not going away and it’s currently rich with opportunities. All the resistance in the world didn’t prevent the demise of Blockbuster Video as Netflix, YouTube and other technologies advanced against a dated platform. Our Cheese is Moving…follow it for ongoing and forthcoming success to meet the constantly changing markets and client needs.

Now…if only they can find a way to regulate, skim fees from, and reinvent simple toilets on an annual basis. That’s where the real money is.

That was disturbing.

As long as you realize that you are contributing to the database which will be used to replace you. It reminds me of a friend of mine who does training videos for a large Japanese auto maker. They recently asked him to help them train AI to take his place. Eyes open, people.

Baggins, the new UAD 3.6 report is not a form, its a report. From what I’ve seen and know, its the best opportunity in many years for residential mortgage appraisers to be appraisers rather than simply form checkers. For those who are willing to take the time to adjust to a reporting process from a box checking form process, the client work and fees should be beneficial. Change can be challenging, but the rewards may be very rewarding indeed. I recall the challenge of transitioning from typing reports to having to learn how to line up dot matrix printers, and transitioning from glue-sticking 30-minute developed photos to learning how to download digital photos from funny looking Sony Mavicas – but within days we always saw the benefits and then wondered how we ever did it the old fashion way! Now, once again technology is giving us a new challenge and likely a new benefit to celebrate! Onward and Upward.