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Did you confirm $65? i guessed less. AVM's around long time
Posted by  sigtogo/OR of OR on 6/21/18 2:22pm Msg #594904
lenders have been utilizing automated valuation models, AVM, for a long time. I used them in 2002 and I don't know when they first came on the scene. In my world, before that, we relied on county information for high credit score, low LTV deals.
Amrock has had an appraisal dept for some time and has also utilized AVM's. I imagine that they want to expand and improve the data in their AVM which is a good thing for borrowers and investors as AVM's factored to some degree in the 2008 melt down.
Not saying it won't eliminate some appraisals and not saying I am a fan of AVM's. They have their place but many times, IME as previous bank staff appraiser, they were way off.
my two cents Smile
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Messages in this Thread
 Amrock fka Title Source is starting Property Data Collection - Colonel/IA on 6/21/18 12:33pm
 Looks like a phone app, may be no paperwork. n/m - jnew on 6/21/18 12:49pm
 Re: Amrock fka Title Source is starting Property Data Collection - Lee/AR on 6/21/18 1:37pm
 I bet the appraisers are not happy about this new venture. - grapebed on 6/21/18 2:00pm
 Did you confirm $65? i guessed less. AVM's around long time -  sigtogo/OR on 6/21/18 2:22pm
 Amrock will offer $60.00 I know because I asked - CW2Ret/VA on 6/21/18 2:34pm
 Re: I bet the appraisers are not happy about this new venture. - Signerbill on 6/21/18 2:28pm
 Re: I bet the appraisers are not happy about this new venture. - CopperheadVA on 6/22/18 7:19pm
 Property Data Collection - Signerbill on 6/21/18 2:31pm
 What about liability issues? - CW2Ret/VA on 6/21/18 3:28pm
 Inspection work is NOT appraisal work. There's no point in -  MW/VA on 6/21/18 4:08pm
 re: liability issues? - Signerbill on 6/22/18 8:53am
 Re: re: liability issues? You don't think so? - Linda_H/FL on 6/22/18 9:02am
 Clarification.. - Linda_H/FL on 6/22/18 9:06am
 Re: Amrock fka Title Source is starting Property Data Collection -  Cheryl Elliott on 6/22/18 8:28am
 Re: Amrock fka Title Source is starting Property Data Collection - Heather Tianen on 6/22/18 9:04am
 Re: Amrock fka Title Source is starting Property Data Collection - Linda_H/FL on 6/22/18 9:08am
 Re: Amrock fka Title Source is starting Property Data Collection - JandB on 6/22/18 6:07pm
 Amazing how many areas notaries are offered work in -  Cheryl Elliott on 6/23/18 8:13am



 
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