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a key sticking point is the ‘appraisal fee’ has been hard-fixed, quoted up front, and difficult to change,

Non Sequitur

Elite Member
Supporting Member
Joined
Feb 14, 2002
Professional Status
Certified Residential Appraiser
State
Louisiana
If a lender is calling,
when they have to face the reality of under quoting,
and no one accepts the low fee,
will the lender start to raise their quotes?
Or will appraisers keep accepting low fees,
because the lender can't appropriate expense the cost of the appraisal,
without first getting input from appraisers in the field,
instead of from the suit and tie, aint done one in 20 years, appraisers?

What a lender quotes is not an appraiser's issue. If it were, the lender would seek input from field appraisers, before quoting (estimating).

.

.
None of this was a problem pre-HVCC, but a bunch of appraisers demanded the gubmint take action. Remember that while pushing for more intervention from DC.

If anyone thinks pushing the CPFB to remove the appraisal fee from zero tolerance will help raise fees they live in a fairy tail world.
 

Renee Healion

Elite Member
Gold Supporting Member
Joined
Feb 21, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
Maybe so. But this is not a sweeping change it is a tweak to the whole broad disclosure package. The change started three years ago with that fee-locking. This would undo that one part. If nothing else, it would make the lender argument moot (that it is out of their hands). If appraisers still accept whatever is handed them, well, that would just be more of the same.
 

Lee in L.A.

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Your promise that the appraisal is free!
Means nothing to me.
Pay up or go do those lewd acts on yourself like usual.
Meanwhile, I am charging extra for the ick factor.
 
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