We're Back To The Beginning

[TRESinc]

We stopped on our road trip last week at McDonalds to tap a kidney and get a quick lunch. It was one of those new Kiosk stores.....this is McD's answer to the $15 minimum wage. .you'd be hard pressed to find 3 humans working in that place, and one of them was mopping up a spill. The Kiosk was a marvel of lights and buttons. But the dam thing got my order wrong. Whatever they thought they were saving in salaries, they lost on free refills at the drink station, as everyone in the store was filling containers to travel.

not really. i knew from experience that the first cup of coffee sol pays for the entire process of making a full pot, so i search out costs on soft drinks at mcdonalds.

• $0.12 for soda
• $0.07 for the cup
• $0.01 for the lid
• $0.015 for the straw
  
  

 

[Overimprovement]

what lost fees? if you agree to complete a report for $175 then you get paid $175. if you agree to $500 then you get paid $500. you didn't "lose" anything if you agree to the price, and last i checked no one has ever been forced to complete a report. it is offered, and accepted, by the appraiser. gheez. entitle much?

EXACTLY! No one forces the INDEPENDENT appraiser to do anything. We agree to each and every assignment we take on. If we do not the clients, conditions, pay, working hours, properties, AMC model or anything else, we can stop accepting those assignments. Any of us still doing SFR appraisals are doing so because we want to. That may change tomorrow, and likely will for some, but it is still our choice. We are in control, not the AMCs.

 

[Meandering]

And all of those doing $175 1004s and $50 desktops are also doing them because they want to.

And people who drink and drive and do drugs, do them because they want to.

There are lots of things people do because they want to. That's why there are laws, to curb all those "want to's"

.

 

[Meandering]

I'm not familiar with that line of thinking, but if you guys can pull it off then you deserve the payout.

I believe that is underway, although, I don't have a link to share.

.

 

[TRESinc]

And all of those doing $175 1004s and $50 desktops are also doing them because they want to.

And people who drink and drive and do drugs, do them because they want to.

There are lots of things people do because they want to. That's why there are laws, to curb all those "want to's"

.

you love to post laws and regulations. kindly post the law that says $175 or $50 is illegal. don't post some random law that you want to interpret, post one that specifically spells out those fees are against the law. can't go off about C&R as i am sure any company offering those fees will abide by presumption 2 and therefore be legal.

 

[Overimprovement]

And all of those doing $175 1004s and $50 desktops are also doing them because they want to.

And people who drink and drive and do drugs, do them because they want to.

There are lots of things people do because they want to. That's why there are laws, to curb all those "want to's"

.

So is your solution then to outlaw vehicles? That seems to be the analogy.

Or are you in Eli's camp thinking the government should regulate everything then we will all be better off? Including mandating fees?

 

[Meandering]

The regulations and laws have already been written. I’m not in anyone’s camp that believes the laws written should not be/or had been, enforced.

 

[djd09]

Which regulation does the bank have to comply with for Safe and Sound lending practices? You know kind of when they regulated no doc loans, teasers, interest only.

 

[J Grant]

So is your solution then to outlaw vehicles? That seems to be the analogy.
Or are you in Eli's camp thinking the government should regulate everything then we will all be better off? Including mandating fees?

It's not always a whiplash either /or....such as govt regulates everything -. The fact is that the res lending aspect of appraisals already is highly regulated .The problem is the regulations at present heavily favor lender and AMC interest over that of appraisers for this particular segment of work. Correcting the flaws in the regulation or enforcement for this segment would have no bearing on the rest of appraisal practice.

We'd all reach our destinations faster if there were no speed limits on the road and we could go 80 mph on any and every street. But speed limits exist and are enforced, because no speed limits and no enforcement would lead to a much higher rate of accidents and deaths . The way it is now with presumption 2 and the abuse of it is lender/AMC interests ride on a toll free super highway with no speed limit enforced, while appraisers pay the tolls for that super highway. And if appraisers go one mph over the limit of USPAP, they can get fined, put on do not use list, license issues etc.

So yes it is an imbalanced situation that needs regulatory or policy correction, and without it will devolve to a reverse Darwinian selection : the appraisers who can find a way to work fast at low fees , often a churn rote data dump or variation of it, may not be the more experienced or competent ( and if they are , they compromise to get work done at such low fees) but overall, the more experienced and competent are able to get better clients or have a CG license or will simply leave if the conditions on res lending end become untenable.

Besides any economic harm to our own self interest, I think it is appalling the tax payer backed all important res lending of working home owners and buyers is treated like a flea market and the borrower a pawn in a profit game to enrich third parties or the lenders themselves. With apologies to the struggling appraisers trying to do good work for AMCs or the few decent, less predatory AMC's and lenders...comments here refer to the dominant trend.

 

[Overimprovement]

The regulations and laws have already been written. I’m not in anyone’s camp that believes the laws written should not be/or had been, enforced.

But what is the point of your analogy? That there should be laws against $175 reports? Or that there are, and those laws simply are not being enforced?

Maybe I am missing your point.