AMCs are done soon

[Sandra Koutsopoulos]

They made the mistake of thinking people at the top had values and morals. They didn’t understand it’s completely the opposite. The higher up you g, the bigger the crooks and criminals you will find.

Per Aesop's Fables (the Greek guy with wise sayings back in the B.C. period): "We hang the petty thieves and appoint the great ones to public office." So the human race hasn't changed much! LOL

 

[George Hatch]

They made the mistake of thinking people at the top had values and morals. They didn’t understand it’s completely the opposite. The higher up you g, the bigger the crooks and criminals you will find.

Exactly the opposite. The HVCC and D-F imposed more limitations on the banker's alternatives and forces them to aggregate their conduct and decision making into their own organization. It cures part of the problem of LO-interference by outright avoidance and funnels the rest of the problem into patterns involving larger numbers that will be much much harder to obscure - if/when those controls are actively enforced. If the regulators want to find out who tried to pressure the appraiser they now have the means to identify the individual at the lender who did it, 400x in the last 2 years. That effective reach wasn't even remotely possible when that activity was dispersed among 100,000 different loan originators.

The all-or-nothing strawman argument the critics like to use contradicts the reality that there is such a thing a better vs worse. IRL, if D-F succeeds in reducing lender misconduct by even 10% then that more than completely justifies 100% of the collateral damage that occurred to the business interests of that subset of the appraisal profession who operate as fee appraisers.

 

[glenn walker]

If they eliminated AMCs most fee appraisers would be instantly gone as the Money Center Banks would all go to very small staffs with high volume daily quotas. That would fill the supply and demand and so called self employed fee appraisers would have no work.

Nobody wants to be on a BOA or Wells Fargo Staff business model. Most work long days with high volume and low take home pay after W-11 taxes are held. New employees would be PAREA graduates who you would train to take your job. Think long and hard before you ruin your lifes even more.

 

[George Hatch]

I dunno about appraisal staffs becoming the prevailing default because of the fixed overhead vs volumes dynamic. One advantage of using outside brokers (AMCs) and contractors (direct engagement fee appraisers) is that the lenders only pay for what they use; they don't pay for what they don't use. If the volumes dry up they don't have to watch the clock ticking and count the dollars being wasted to support a non-productive staff. Instead, they simply stop buying, which costs them nothing.

Small staffs doing the fastest, easiest and most profitable appraisals whilst outsourcing the rest.

 

[glenn walker]

I dunno about appraisal staffs becoming the prevailing default because of the fixed overhead vs volumes dynamic. One advantage of using outside brokers (AMCs) and contractors (direct engagement fee appraisers) is that the lenders only pay for what they use; they don't pay for what they don't use. If the volumes dry up they don't have to watch the clock ticking and count the dollars being wasted to support a non-productive staff. Instead, they simply stop buying, which costs them nothing.

Small staffs doing the fastest, easiest and most profitable appraisals whilst outsourcing the rest.

I agree the AMC is going nowhere soon, and more banks are closing their appraisal departments as fixed cost become to high to maintain. The ultimate goal is to have maybe 25% of all transactions include a full appraisal and most will be done virtually.

 

[George Hatch]

See tagline below:
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[djd09]

They made the mistake of thinking people at the top had values and morals. They didn’t understand it’s completely the opposite. The higher up you g, the bigger the crooks and criminals you will find.

im sure the revaa crn taf shills will be quoting that one

 

[chad hampton]

im sure the revaa crn taf shills will be quoting that one

Memberships to those clubs have their privileges. It's the american way. Pay off enough people and you have a license to cheat and steal.

Probably why guns and ammo sales are through the roof. The time is near.

 

[djd09]

...the unethical stakeholders are all in cahoots and 15th st is a party

 

[djd09]

look at jpepstien and their fight to fix bias in appraising