Rels Valuation National Review Department Quality Control Advisory Report – June 2016

[Eli]

By their actions, govt agencies are aligned with corporate profit rather than public trust as a priority relating to appraiser issues. Wish I shared your optimism, unless there is true change we are alone in this and that is why appraisers remain as a potential group, fragmented and vulnerable .

By the same token, look at what some states are doing. And, FNMA will not be able to hide their data for corporate profits. So, the reins are getting tighter daily. Data is what will cut many but the govt will be the enforcer from both state and federal levels. People will either comply or they will lose their ability to operate.

A license is what provides the ability to operate.

 

[Eli]

If it don't get better soon, a license may not be required when it comes to government guaranteed mortgage work because the government may own it. They own a big big percentage already.

Why not go all in? If am the government and I am assuming all the risk and it is my money then I am all in and I hire the appraisers.

 

[Michigander]

Core Logic is like a Caliphate expanding territory.

RELS is not horrible to work for but their fees are very low, therefore I hardly do any work for them though I did some years back when they paid higher than they do now. They mostly use staff appraisers and only call me once or twice a year when their staffer in area must be on vacation so that is the only time they will be a reasonable fee.

They did contact me a few months ago about a staff position...the pay was very low, slightly better but not much better than min wage level. There are benefits but you can't pay your bills with benefits and a bonus for volume but that would mean working 60-70 hours a week for the bonus to kick in, must be high turnover because they contact me every couple of years and the salary is always low . No wonder they fought to scrap the college degree they need fresh bodies for these jobs. Nothing wrong with going on staff but why accept such a pathetic salary.

The requirements listed, most of them make sense but I can say from having worked for them the alternate comps they send are sales picked from a computer they are spit back within moments of sending the report and even if in a geo are superficially with similar sf most have nothing in common with subject and make no sense. I personally do not like the idea of appraiser having to list by address the sales they choose not use. Keep them in the work file. If a if client cant' trust your judgement what sales to exclude that speaks volumes. It should be sufficient to write that other sales nearby were found but they were less similar and therefore were not used as comps.

I find working for this kind of client soul crushing and depressing.

Contacted me last night for a staff position. I didn't even respond. Must be desperate calling around like that.

 

[Eli]

Contacted me last night for a staff position. I didn't even respond. Must be desperate calling around like that.

That's bad for them. They must have been feeling lucky. I don't believe in luck. Thank you for not believing in luck.

 

[Eli]

Luck don't exist. Luck is like Peter Pan, neither one exists. They are fiction.

 

[Tom D]

Look up, get up, and don't ever give up! ~ Michael Irvin

my quote "Look over the hill, get out, and don't ever come back!" that applies to the younger crowd, most of us older slaves can't run away from this plantation, sore joints from a life of abuse.

i knew a staff appraiser, 10 appraisals a week had to be done.

 

[Eli]

There are some new dogs hunting and they are not appraisers. But they are on the government side and they have appraisers who are on the govt side nervous.

 

[TooMuchCoffeeGirl]

A rhetorical question, but why can't appraisers stop accepting low fees and refuse to go on staff unless they get paid a decent salary?

I work for an AMC (I know, sad for me). Client was not happy with the original appraisal and ordered a second. 40% difference between what the first appraiser would accept and what the second would accept. Original appraiser's price wasn't a fee bump for complexity or timing...just their normal fee.

I see it every day. Appraiser's who are willing to plant their feet on the ground and say "this is what I charge" invariably get it. AMCs and client's are making the professional a miserable place to be but, when it comes to fees, appraisers are shooting themselves in the foot.

 

[Deleted member 80407]

I work for an AMC (I know, sad for me). Client was not happy with the original appraisal and ordered a second. 40% difference between what the first appraiser would accept and what the second would accept. Original appraiser's price wasn't a fee bump for complexity or timing...just their normal fee.

I see it every day. Appraiser's who are willing to plant their feet on the ground and say "this is what I charge" invariably get it. AMCs and client's are making the professional a miserable place to be but, when it comes to fees, appraisers are shooting themselves in the foot.

AMEN, TO YOUR STATEMENT !!!!!!!!!! We have some scumbag appraiser's in AZ working for peanuts stealing work from the more professional appraiser's. Had an AMC call me on Friday wanting a rush FHA appraisal which I thought would get assigned to me (live in the town where the appraisal assignment is). I quoted my normal fee plus $50 for the rush (property located about 10 minutes from office). Some scumbag bottom feeding appraiser coming from 25 to 50 miles out probably having lower FHA fees took the job with no rush fee. I am semi-retired and therefore, only work 1-2 assignments a week and therefore, would rather take the weekend off rather to slave for some AMC wanting to make more profit. I do have a black list of AMC's which I will not work for because they shop fees.
Next time one calls me, I will quote 1/2 of my normal fee to have some fun and if assigned, I will turned down the assignment. If all appraiser's would do this, MAYBE, the AMC's will get the hint and stop calling for fee quotes and turn times.

I do recognize that sometimes there is a need for a fee quote due to complexity as well as a turn time for a quick close, however, not for normal conditions. Furthermore, I believe FHA assignments should have 1 fee like VA assignments.

 

[J Grant]

I've stopped responding to fee quotes for normal non complex assignment from certain AMC's. I just delete the request. "Real" clients know what our fees are, or we agreed to a fee they pay which is acceptable to us. I can see quoting/bidding on high end or complex assignments, but for regular work it's a time waster. I am supposed to jump off work for loyal clients to look up property addresses and fee quote for some random or bottom feeder company fishing for cheapest fee? Let someone else provide it .

If appraisers were smart (which we are not), if we were smart, for non complex work we'd charge those companies for a quote, such as $10 for a quote. If we get the assignment, the $10 charge is credited to the fee. Because these companies are using our free fee quotes to make a profit and taking our time to do so.

How do they know that the moron who charges $275 is the cheapest if they also did not get free fee quotes from the other appraisers? The other appraisers who charged more divulged information allowing assignment to be awarded to the cheapest and got nothing for it except wasting their time/being demoralized by losing out on a job even if they quoted a reasonable fee. Which is a secondary purpose of these companies bidding out regular orders instead of assigning them. Putting out reasonable fee quotes and still not getting orders can demoralize an appraiser to the point they might lower their fee to "win" the next order.

The climate that allows this crap to go on for work involving the public trust would be unbelievable, only it happens every day . Just easier and less aggravating not to respond for known bottom feeders. The times when any of these companies do agree to my fee I end up being sorry for various reasons I ever took the order.