More AMC and PDC Bull

[ddnma]

Name the direct lenders that broadcast orders.

Lenders compete with each other on the appraisal fee they charge a borrower. First I've heard of it. I used to share office space with mortgage brokers for over 10 years btw, first when I was a RE agent and later as an appraiser rented an office from one as well as my own closings with borrowers as an agent, I am rather familiar with how lenders quote fees on good faith estimates.
Perhaps lenders compete on points or larger fees that borrowers care about.

I can not account for every exception or lender out there, but in general, and per regulations, they have to pay appraisers C and R fees, and most lenders tend to charge borrowers, for regular orders, an uniform same $ appraisal fee at application.

We know.. in your small corner of the universe, you have become an expert in everything.
I know of one lender who does appraisal fee rate studies once a year so that their LO's can tell their borrowers that their appraisal fee is less than the competition. They order direct in their footprint.

 

[J Grant]

We know.. in your small corner of the universe, you have become an expert in everything.
I know of one lender who does appraisal fee rate studies once a year so that their LO's can tell their borrowers that their appraisal fee is less than the competition. They order direct in their footprint.

That is normal. My direct lender clients also do fee studies once a year.

They do it to keep up with and average a C and R for their panel. Never heard of it being done so they can tell their borrowers their appraisal fee is less than the competition. It seems very odd that a lender would personally confide that to you. But I''ll take your anecdote at face value.

 

[J Grant]

AI Overview
4



Lenders who order appraisals directly set fees by creating internal, custom fee panels based on geographic market data, loan complexity, and, when needed, independent studies. They bypass Appraisal Management Companies (AMCs) to pay appraisers higher, "customary and reasonable" rates directly, which often results in lower total costs for borrowers and faster service.
VM Lending +3
How Lenders Set Direct Fees:

• Internal Fee Panels: Lenders establish their own approved list of appraisers, negotiating fees directly with them rather than relying on AMC intermediaries.
• Data-Driven Schedules: Fees are structured by region (e.g., zip code) and property type, ensuring the price reflects the complexity of the assignment rather than a flat, standardized rate.
• Tiered Pricing: Lenders may set tiered fees based on loan amounts (e.g., higher fees for loans of
  TRID Compliance: Lenders must ensure they are compliant with TRID regulations, using accurate, up-to-date data to avoid issues with fee disclosures.
  
  Technology Utilization: Lenders use specialized software, such as that offered by Reggora, to automate vendor allocation and set fee schedules, which helps in updating, tracking, and disclosing costs accurately and, in some cases, with lower fee escalations as seen with The Appraisal Marketplace.
  JVM Lending +4
  Appraiser Independence: The appraisal department must be separate from the loan production staff (loan officers) to maintain compliance.
  -
  Direct Payment: The lender directly pays the appraiser and is reimbursed by the borrower, with no AMC acting as an intermediary.
  

 

[alebrewer]

It seems very odd that a lender would personally confide that to you. But I''ll take your anecdote at face value.

do you know something about ddnma that the rest of us don't?

 

[ddnma]

do you know something about ddnma that the rest of us don't?

I don't think so! LOL

 

[ddnma]

That is normal. My direct lender clients also do fee studies once a year.

They do it to keep up with and average a C and R for their panel. Never heard of it being done so they can tell their borrowers their appraisal fee is less than the competition. It seems very odd that a lender would personally confide that to you. But I''ll take your anecdote at face value.

How nice of you... just another example of you living in your tiny world. Keep it up J, you have provided hours of entertainment for a lot of people with your posts! LOL

 

[Carnivore]

Well after reading a lot of this The lawsuits are real and it appears they have legal weight' he consumer‑protection agencies could get involved, and the lawsuits are basically pushing them in that direction but and there is always a but Borrowers didn’t know enough to complain

 

[J Grant]

do you know something about ddnma that the rest of us don't?

Of course not !
My comment was more that lenders barely talk to appraisers anymore ...

 

[djd09]

shot gun marriage...pay your fair share...the shills must be little liberals

 

[J Grant]

How nice of you... just another example of you living in your tiny world. Keep it up J, you have provided hours of entertainment for a lot of people with your posts! LOL

I have no idea who you are. Your posts come off as snarky and immature.

Enjoy your little corner of the world, whatever that is - You'll go on my ignore button.