ABOLISH and OUTLAW bank owned/affiliated and/or contracted management companies.

[Armando Acosta]

Please read the Abolish Bank Owned Management Companies Petition at
http://www.petitiononline.com/BOMC08/petition.html

I will appreciate your feedbacks.

Thanks.

Armando Acosta

 

[Mike Kennedy]

Who will the Petition be addressed to / being sent to ?

 

[William Rightsell]

Mixed Feelings.

I applaud the thought and effort, but its never gonna work - the big banks that own these things got too much clout and got congress in thier pocket.

Plus, if the signators continue to make comments on it such as the two already there about "stealing fees" and "paying less today than 20 years ago" it will come off looking as a gripe session over fees and that clouds the real issue. Nobody cares what we make - its a free market. They sure don't want to hear us whine about it.

But again, I sympathise with the thought....

Just my .02 cents...

todd

 

[William Rightsell]

Just to add...

I didnt sign it. While I detest AMC's, there are some very bold statements in there regarding these companies financial strength as well as charges of collusion and price fixing. I hope the author has evidence to back all that up. I have seen no evidence of price fixing - just pressure to work cheaper. Some take the offer, others don't. No price fixing there I can see. Not a very well written document in my opinion. Something about the overall tone of it....

todd

 

[Marcia Langley]

I agree with William. This petition has a lot of petty unsupportable statements in it.

The main issue for protection of the public trust is appraiser independence. Every AMC claims to enhance that when in reality they undermine it.

By including petty fee complaints and unsupportable claims, the petition comes of as amaturish and self serving.

 

[Workbox]

In past History, pitchforks and fire and storming the fort usually did the job. :laugh:

I applaud the efforts and as everything that involves politics, revisions are the norm. I am sure this might get some attention other than the AF.

 

[Pamela Crowley (Florida)]

Too much involved that just doesn't seem right. I cannot sign it.

 

[Lost Cause]

I haven't read the petition yet, and don't see much hope in stopping bank ownership of AMC's. I do consider Bank-owned AMC's to be a clear conflict of interest.

 

[Lawrence R.]

Hmmm.

Well,

I don't see anything that specifically names any particular offender, but the brush could be broad enough that anyone could claim damages...also, some very specific charges that may or may not be true.

Sometimes, less is more.

I want to sign something like this, but not exactly like this.

Did I ever mention that I hate AMC's?

In the immortal words of Dave Chappell,

" I wish I had 2 more hands, so I could give you 4 thumbs DOWN!"

 

[Kevin Mc]

Sorry Armando.

that thing is a mess. Please advise whomever authored this petition it needs serious work. I agree with JH that there certainly is a conflict of interest and it is no secret I do not like AMCs but I cannot put my name on that petition as it is.