Defund TAF

[djd09]

Doesn’t surprise me, like Cindy Chance says for going on 20 years now the same cast of characters has been putting on different hats and rotating different jobs every few years. They’re confused on what roles they’re playing at any given time. It leads to corruption and unethical behavior. It’s just human nature.

TAF calls it consistency...right, bunton?

 

[Mike Ault]

When some of my local lender clients went from direct engagement to AMCs I started getting a lot of additional requirements. So I asked them, am I being lied to by this AMC when they told me that "this lender requires borrower to be contacted within 24 hours", or "this lender requires you to comment on the carbon monoxide and smoke detectors", or "this lender requires you to comment on whether the water heater is properly strapped", everyone of them said I was being lied to, and they had no such requirements. AMCs have no problem lying to anybody and everybody to make their job easier. Just for the record.

 

[glenn walker]

The issue is the trainee isn't certified and many won't even accept a licensed only appraisal. I know our investors required certified licenses on most everything.

 

[glenn walker]

If lenders don’t accept field appraisal work from a licensed trainee, I assume they don’t accept field appraisal work being done by Uber drivers?

Seems a bit odd if they would.

Only Uber drivers that also are licensed appraisers and the appraisal is just a side gig and their higher income job is Uber.

 

[Joe Flacco]

The issue is the trainee isn't certified and many won't even accept a licensed only appraisal. I know our investors required certified licenses on most everything.

Stop with the pretending like you are some banking big dog. Fake as ****.

 

[Joe Flacco]

That depended a lot on the lender. Many of them did have very specific assignment conditions, some did not. During my time, a couple of lenders were very well known in the AMC community for having a lot of additional requirements.

I think that was probably more so back in the day when the big move to AMC was happening. I think the lender-AMC relationship changed a lot over the last 10-15 years.

 

[Francois K. Gregoire]

TAF calls it consistency...right, bunton?

looks like you have not visited their website in a while.

 

[Joe Flacco]

Seems like AMCs started out as agents for lenders but have since evolved into appraisal companies and partners of the GSEs.

 

[chad hampton]

Only Uber drivers that also are licensed appraisers and the appraisal is just a side gig and their higher income job is Uber.

I’m with you, the more chaos the better. Impersonating an appraiser is a felony in my state, but since there’s no one enforcing state laws, I’m all for it.

 

[chad hampton]

Seems like AMCs started out as agents for lenders but have since evolved into appraisal companies and partners of the GSEs.

After a decade of lobbying and threatening every regulatory body out there, they turned into a little bit of everything. Obviously, they were never meant to be appraisal companies. It’s a good case study on how things in this country get accomplished.

At least until a bunch of Luigi’s come around and disrupt things.