You need to be more competitive in pricing!

[David Sawyer]

Very well stated.

This was from an AMC in Tenn!

 

[Elliott]

Dear Senior VP,
First, are you a really a senior VP, or just an assistant to a VP? How amazing you
asked to provide the lowest price I would do an appraisal for. How myopic to look
for a cheap appraisal after you and your fellow lenders have screwed the pooch,
losing at least a trillion dollars of capital. What's more amazing is you can't even
account for the amount you've screwed up. I'm sure you think you have no
responsibility for this mess, but your a significant contributor to the problem.
A bill was recently passed by the US Congress that will require all lenders to
be licensed by their respective states. Hopefully, there will be a significant
portion of licensing law that deals with appraisal pressure and selection.

As an appraiser who's had to deal with lenders who only want the 'deal to
work' and I include you in that group, I will enjoy the future prospect of
nailing you to the wall when you 'shop' for appraisals or 'pressure' me for
a predetermined value.

You have a nice day too.

Sincerely,
Elliott

 

[jay trotta]

We are competitive @ $XXXX per appraisal and in compliance with Federal guidelines; our turn time is 2-4 days after inspection, providing no problem with comps. - the slight increase in our Fee structure is to cover increasing; Tax problems you and other various Lenders have created, along with rising gas prices+Tax, increasing food costs+tax, rising Tire Costs+Tax, Auto.Maintenence Costs+Tax and municipal Tax increases. We do live in the Tax U To Death State, where our taxes overall are larger than NYC and NJ - including our Gas Tax.

Did I forget to mention our GAS TAX, and the other Taxes, Ooops I forgot, we also get to kick in our State Income Tax, so by the time we finish your report our profit is about $49.95 and out of that - did I mention our INCOME TAX - we ended up with $19.95 - so your thoughtful Fee of $200 - would allow us only to earn $1 per appraisal, so I don't think we need the other $18.95 to pay our Federal Taxes with.

As we think about this end result, it has become apparent that we need to seek the advice of the IRS to see ifn we can qualify as a "Non Profit" - it would be the only way to make money and then we could solicit all you "Lenders" to provide Donations so that we could continue to serve "The Good of The People".

Hows at fer a warmin up par tay.....ROFL

 

[liberated]

This was from an AMC in Tenn!

Which one???? I promise to pay them a visit!

 

[liberated]

We are competitive @ $XXXX per appraisal and in compliance with Federal guidelines; our turn time is 2-4 days after inspection, providing no problem with comps. - the slight increase in our Fee structure is to cover increasing; Tax problems you and other various Lenders have created, along with rising gas prices+Tax, increasing food costs+tax, rising Tire Costs+Tax, Auto.Maintenence Costs+Tax and municipal Tax increases. We do live in the Tax U To Death State, where our taxes overall are larger than NYC and NJ - including our Gas Tax.

Did I forget to mention our GAS TAX, and the other Taxes, Ooops I forgot, we also get to kick in our State Income Tax, so by the time we finish your report our profit is about $49.95 and out of that - did I mention our INCOME TAX - we ended up with $19.95 - so your thoughtful Fee of $200 - would allow us only to earn $1 per appraisal, so I don't think we need the other $18.95 to pay our Federal Taxes with.

As we think about this end result, it has become apparent that we need to seek the advice of the IRS to see ifn we can qualify as a "Non Profit" - it would be the only way to make money and then we could solicit all you "Lenders" to provide Donations so that we could continue to serve "The Good of The People".

Hows at fer a warmin up par tay.....ROFL

Therefore, I would make $19.95 plus the deducution for state income taxes (we do not have state income taxes in Tennessee..yet) = to approximately
$39.95 per appraisal. Maybe I need to find another client.

 

[panappr]

I think the problem is they don't see any difference between a $38.00 BPO and a 1004 full appraisal. They can't figure out how come we are charging so much. m2:

 

[Riick]

I think the problem is they don't see any difference between a $38.00 BPO and a 1004 full appraisal. They can't figure out how come we are charging so much. m2:

And for all of those who adored Brad Ellis -- Brad couldn't see much of a difference either.
Now.... Look what happened to IndyMac.
BTW... anyone want to buy an IMB ball cap, or mouse pad ??

 

[The Warrior Monk]

Dear SVP,

Are you a publicly traded company? If so, can you tell me what your average fee paid to an appraiser is?

I need this information to help me in determining whether to short your stock.

TIA

-Dave

 

[Tucson Appraisals]

Dear Senior Vice President of the AMC,
As I KNOW your main interest is in helping the banking industry let me offer a suggestion. A borrower needs a lender to make the loan. A lender needs an appraiser to provide appraisal services connected to the loan process. However, neither the lender or the appraiser NEEDS the AMC. So, if you and your company will just take a hike and find other employment we will be able to continue just fine without you. Don't leave mad, JUST LEAVE!

ooooooooooohhhhhhhhhhh!!!

 

[Tucson Appraisals]

Dear Senior VP,
First, are you a really a senior VP, or just an assistant to a VP? How amazing you
asked to provide the lowest price I would do an appraisal for. How myopic to look
for a cheap appraisal after you and your fellow lenders have screwed the pooch,
losing at least a trillion dollars of capital. What's more amazing is you can't even
account for the amount you've screwed up. I'm sure you think you have no
responsibility for this mess, but your a significant contributor to the problem.
A bill was recently passed by the US Congress that will require all lenders to
be licensed by their respective states. Hopefully, there will be a significant
portion of licensing law that deals with appraisal pressure and selection.

As an appraiser who's had to deal with lenders who only want the 'deal to
work' and I include you in that group, I will enjoy the future prospect of
nailing you to the wall when you 'shop' for appraisals or 'pressure' me for
a predetermined value.

You have a nice day too.

Sincerely,
Elliott

again.....whooooooooohhhh!!!