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I just billed 75 marbles for a 1004MC

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by LACKLAND27, Feb 5, 2009.

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  1. LACKLAND27

    LACKLAND27 Senior Member

    0
    Mar 6, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    A nameless AMC sent me an order for a condo. It was 5 blocks from my house and the fee was reasonable. The order was for ABC funding. The special instructions stated that “IF” the order was for “XYZ Bank” it required a form 1004MC. Well being the order was for ABC lending and didn't require the 1004MC I accepted the order and sent it out.

    I get a rejection notice and it NOW states the order is for XYZ Bank and where is the 1004MC. I note the original order sheet and say if you want the 1004MC that changes the SOW and requires a new order and the fee is + 75 marbles. They cried and moaned but accepted my terms. :fiddle:

    I most likely won't see another order from them for awhile, but A- The satisfaction of was worth it! B- They ordered maybe 4 a month so no great loss there. C- I now have a 9-5 bank review job and really don’t give a CR@P any more! :clapping:

    BTW - My Geodata Plus data base gives you the 1004MC report on the closed sales when you run a CMA.
     
  2. GCJim

    GCJim Senior Member

    5
    Dec 11, 2007
    Professional Status:
    Certified General Appraiser
    State:
    New Jersey
    Excellent LL27. I have not had the opportunity to provide a 'formal' 1004MC yet, but my intention is to CHARGE for it.
     
  3. Mike Kennedy

    Mike Kennedy Elite Member

    251
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    let us know if you get a check and it clears. thanks.
     
  4. Claude From NY

    Claude From NY Senior Member

    0
    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    Love it. You dropped a smart bomb on them!
     
  5. Pete Humphrey

    Pete Humphrey Junior Member

    0
    Jan 18, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    I had an rush order this Saturday for a pretty normal 1004 and charged my typical fee. Then I get an email after returning collecting COD from the broker saying the lender is requesting a 1004MC as well. I told her it's not even required by Fannie yet, but she says she still needs it. So, I just sent her an email saying, fine, but I'll have to bill you another $75.00 thru escrow for the additional work. Should be interesting to see her response!
     
  6. LACKLAND27

    LACKLAND27 Senior Member

    0
    Mar 6, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    Thats been my motto for years. Never say no, just say it cost extra. Good luck collecting.
     
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