9 Weeks

[Elliott]

Actually its only been 6 weeks with HVCC, but it feels more like
9 weeks of passion, dealing with new AMCs. I was wondering what
you all thought of our new relationship with new AMCs.

I've had two that are still being bounced back like a ping pong
ball and I 'finished' the reports 3 weeks ago. It is my observation
these new AMCs got flooded, don't know what they are doing, except
act like they are a big, important know-it-all AMC. At least the old
AMCs know how to do things semi-efficiently. The new kids like to stip
one thing, then stip another, and then go back to the first one. I
guess they like to read reports again and again. One even accused me
of 'fishing' for a value. I said, "What?!"

 

[John Hassler]

I have a couple of direct lenders who are now using in house HVCC ordering systems. The extra layer adds about 30 minutes to the time it takes to complete each report and adds at least an extra day to my turn time waiting for return calls/emails. I also have to wait for my money. In response I'm raising my fees to these Clients and if they go away that fine with me as GSE-type appraisal work is going downhill fast from a work/reward standpoint.

 

[Elliott]

I've bid all my AMC assignments high. None of the PMs(phone monkeys) even
know the lenders requirements on comps and listings ("Its in the actual order."
Yeah, but I'm bidding it now!). It has taken a lot of the 'fun' out of doing appraisal
work.