AMC complaints and appropriate action

[MTalacko]

Go to the BREA site and read the law concerning AMCs. Get the right information instead of opinions.

I appreciate that. Was having a hard time finding accurate information on the web, hence my post. Thanks again.

 

[MTalacko]

The AMCs aren't killing our industry, it's appraisers killing our industry. Anyone desperate enough to give an extremely low fee and play this game deserves everything they get.

I've gotten bid requests before from them and just to test the system, put a fee of $250 with a 2 day turn time and haven't gotten it. I would have demanded a higher fee or else if I would have received it, but it just goes to show how desperate some appraisers are.

Just stop feeding into this crap. I've only bid a few assignments ever and think I may have gotten 1?

That's a great point and I do understand that appraisers are responsible for contributing to the demise of this industry based on horrifically low fees. It's quite sad.

 

[djd09]

https://www.bbb.org/us/mi/troy/prof...-valuation-LLC-0332-90015044/customer-reviews

really it takes very little effort to research...do not be deceived bad company corrupts good morals

 

[Elliott]

Precisely. And all these operate upon the assumption that appraisers are sheep and will submit to any indignity when hungry...and they are right.

Since yesterday was 'Good Shepherd Sunday.' I was reminded yesterday that sheep have intelligence similar to pigs. So to equate appraisers to 'sheep' may be an insult to sheep. Sheep are intelligent animals who know their name and follow their shepherd, but they get very nervous when they aren't with their herd. If we are sheep, we have really crappy shepherds, namely TAF, AI and the GSEs.

 

[Terrel L. Shields]

The problem is nobody in authority cares and no one can "prove" that the sole criteria used was turn time and fee. So any effort to force AMCs to abide by the law and NOT choose appraisers solely on the basis of fee and turn time...well, it's not went anywhere for 30 years and not likely to for the coming 30 years.

 

[shrubberyvaluation]

Class Valuations works withe lenders who want the lowest quality appraisers, why do you want to work for them? The question not being posed is why do lenders want an AMC that pays the AMC $600 and the appraiser $150.

 

[ucbruin]

Listed on the reasons why forumites like being appraisers....
Independence....
Forumites don't have to follow in lockstep with fellow formumites....
Independence....

 

[Mejappz]

Good morning,

Was just curious if anybody is currently completing assignments for Class Valuation (AMC). They do a blast for bid requests and based on the few assignments that I've been awarded, only to have the assignment cancelled within a few moments and a notification that "this assignment was awarded to a different appraiser", I'm forced to believe that they are simply awarding the assignments to the lowest bidder and not the most competent or geographically located appraiser. I do understand that we're in a time where, unfortunately, some appraisers will grossly undercut standard appraiser fees for the work, but is this type of practice by the AMC (which is killing our industry) susceptible to valid complaints to the Bureau of Real Estate Appraisers?

Ah one of the GSEs gang of six. I’ve never done an assignment for them because as you mentioned they simply blast out orders to the cheapest appraiser with a turn-time of 24 hours. I’m also contemplating filing a complaint with the state against Classless and Solidifi.

 

[ucbruin]

"I’m also contemplating filing a complaint with the state against Classless and Solidifi."

A real complaint or just a whine....

 

[chad hampton]

Ah one of the GSEs gang of six. I’ve never done an assignment for them because as you mentioned they simply blast out orders to the cheapest appraiser with a turn-time of 24 hours. I’m also contemplating filing a complaint with the state against Classless and Solidifi.

If appraisers and AMCs were held to the same standards, both would have had their licenses revoked in all 50 states by now.