UAD 3.6 discussion

[cashcatz]

Actually, yes there will be a zip file that includes the photo files

10-4, zip for the photos I guess makes sense.

 

[chad hampton]

Sort of like having morals and ethics, I’m also loyal. I’ll stick with Bradford.

 

[cashcatz]

Fees have not kept up with expenses, which is why the software costs are a burden. Every service or paid labor I hire now, or subscription service charges, are almost double compared to their prices four years ago. This has not happened with res lending work appraisal fees. I found a 10% increase on lender direct work, and the pitiful AMC side sees the companies gouging more than ever. It was less nticeeable during the high volume boom years of low rates during covid , but that is in the rear view mirror.

Yeah, this is the real problem. Appraisers, being in the middle, are treated like punching bags and catch no breaks.

 

[Tom D]

Yeah, this is the real problem. Appraisers, being in the middle, are treated like punching bags and catch no breaks.

The free appraisers could not help the AMC plantation appraisers not to be whipped like the non humans that they are.

 

[chad hampton]

Industries with parasitic middle men don't typically have fees ever go up. Remember when the AMC system was sold to us and they promised they would be our partners? 15 years later and the middle men are now national appraisal mills and are your direct competitor. But only one of you is permitted to buddy up to the loan crew.

Some of us predicted all of this 15 years ago. No working appraisers sitting at the breakfast club.

 

[Non Sequitur]

Industries with parasitic middle men don't typically have fees ever go up. Remember when the AMC system was sold to us and they promised they would be our partners? 15 years later and the middle men are now national appraisal mills and are your direct competitor. But only one of you is permitted to buddy up to the loan crew.

Some of us predicted all of this 15 years ago. No working appraisers sitting at the breakfast club.

Yep. I preached against Dodd-Frank and AMC licensing because I thought AMCs would staff up and run indie appraisers out of business. Here we are. And 3.6 coupled with PAREA and Practicum will be the nail that turns our industry into a churn and burn $20 an hour job with no experience needed.

 

[djd09]

But only one of you is permitted to buddy up to the loan crew.

rules for thee...not for me

 

[chad hampton]

Yep. I preached against Dodd-Frank and AMC licensing because I thought AMCs would staff up and run indie appraisers out of business. Here we are. And 3.6 coupled with PAREA and Practicum will be the nail that turns our industry into a churn and burn $20 an hour job with no experience needed.

It was a real eye opener 8 + years ago when I'd sit in state board stakeholders meetings and a revaa rep would start talking. You could see it then that they had no intention of playing by the rules. I couldn't believe the slimeball **** that was spewing from their mouths. That's why I have no respect for any of them. And if you think you're going to play nice and they will work with you, you're fooling yourself.

 

[J Grant]

Industries with parasitic middle men don't typically have fees ever go up. Remember when the AMC system was sold to us and they promised they would be our partners? 15 years later and the middle men are now national appraisal mills and are your direct competitor. But only one of you is permitted to buddy up to the loan crew.

Some of us predicted all of this 15 years ago. No working appraisers sitting at the breakfast club.

The AMC system was not sold to us, it was imposed on us. And overnight, many appraisers lost their clients to the AMC's - and doing the SAME work for the SAME clients - appraisers were now paid half of what they got before. ( due to the bundled fee on the HUD ).. The AMC 's use the word partner because it might provide some legal basis for taking half of a fee when normally a managerial function is about 10-15% of a fee. The AMC calls appraisers vendor partners, because they see you as a vendor they can profit from.

The split of the fee via the HUD bundled fee is legal but disconcerting. Slavery and child labor were legal at one time, too. I am aware that those are much worse and invite mockery as a comparison, but the point is that legal does not equal moral or right or economically fair on any level whatsoever. When the legal system permits exploitation, it has been corrupted, and that is what happened when the regulators allowed the second version of AMC using their own internal fees as C and R. It was game over then

Legislation to cap AMC percent at 15-20% of fee woujld help and if the AMC is worth more to that to their lender customers, the lenders can pay them more . But it would limit the amount the AMC can take from the brrower paid C and R appraisal fee .

 

[cashcatz]

Legislation to cap AMC percent at 15-20% of fee woujld help and if the AMC

Instead of capping AMC percentages, we should cap these AMCs in the a$s, putting an end to these scammers.