Hairy scary hybrid parry. Let’s look deeper, now that we seem to be away from the original hype. When this thing first came up from the GSEs (FannieMae and FreddieMac), a hybrid appraisal was narrowly defined. Basically, it separated the desk job from the field job. I was even in a room once where the […]
The body of a letter to the U.S. House Committee on Financial Services about systems reform. Appraisal reform or Appraisal industry reform? It is critical to understand that ‘appraisal’ does not equal ‘valuation’, or risk analysis, or anything else. It is a precise definition of a nebulous product. The current U.S. House Committee on Financial […]
Hybrid Appraisal Part VII: Is it possible that Hybrid appraisals can benefit us all!? Consumer heaven? Taxpayer benefit? Public trust? Hybrid appraisals are touted as being a “modernization” of the appraisal process. Simply put, a non-appraiser does the inspection of the property, there is no physical assessment of the neighborhood nor any of the comparables. […]
Hybrid Appraisal, Part VI Is it possible that Lo-Brid or even No-Brid appraisals could be even faster and more cheaper? Hybrid appraisals have been hyped as being a “modernization” of the appraisal process. While the appraiser still fills out the “Fannie Mae” form, the actual property visit is done by another person (with as yet […]
A “hybrid” appraisal is a new name for where the property inspection is separated from the analysis and appraiser’s certification. It is faster and cheaper and. . . This is Part 5 of a (soon to be, so far) six part discussion of Hybrid Appraisals. Part One, Two, Three, and Four are behind these links. […]
This is Part Four in a series on Hybrid Appraisal. Be sure to read Part One, Part Two and Part Three. The term “hybrid appraisal” (as it’s currently used), means that the appraiser sits at a desk, while someone else (not an appraiser) looks at the property. It appears that the non-appraiser may or may […]
Why does a hybrid appraisal work better? What are the benefits? Who benefits? Who pays? A hybrid appraisal, as it has been proposed, separates the field work from the desk work. The assumption is that an appraiser is good at filling out the forms, while another “cheaper faster” person can do the property inspection. Also, […]
It was pointed out to me after part 1, that a hybrid like a mule, is sterile and the end of the biological line. Is this true about the hybrid appraisal? A hybrid appraisal, as applied today, means that someone other than the signing appraiser, usually an agent, goes out and does the property inspection. […]
A hybrid is: The offspring of two plants or animals of different species or varieties, such as a mule (a hybrid of a donkey and a horse). Per my Google online dictionary . . . An appraisal hybrid, as I understand it, is two people, doing two parts of the appraisal job. One looks at […]