AMC asking for UAD 3.6 fees, what's everyone thinking?

[Zoe]

I don't really see much change on inspection protocol as long as I have my bucket list on what 3.6 requires. I don't plan on doing hybrids. I will go back to commercial. There are some large local commercial firms that would love to have me. They know me. We can work out a cut. I might start at 90%.

I can get commercial work on my own too. If I do commercial on my own as I have, I have no cut.

I'll lose VA but I could get over it in my old age.

Doing single family and commercial as sole proprietor is very difficult due to timing. Trust me. I have tried it.

I have old commercial clients. It would not be that hard of a shift. I don't know if VA will do hybrids or not.

If VA does hybrids, then they may make the decision for me.

 

[Zoe]

I seriously doubt VA will convert t0 3.6 til next year sometime. Gses will have to live with it.

VA and HUD have way more power than a GSE.

 

[Airstream]

I went online to look at what the new renewal would be for Total. It’s going up from 400 to 500 a year for the basic program. Not surprised with the development of the new software. I knew this was coming. It just had. So does that mean my fees can go up 25%? Should be no complaints right?

 

[Zoe]

I went online to look at what the new renewal would be for Total. It’s going up from 400 to 500 a year for the basic program. Not surprised with the development of the new software. I knew this was coming. It just had. So does that mean my fees can go up 25%? Should be no complaints right?

Don't bet your house or car on it. LOL

 

[Zoe]

The appraisal fee may go up 25% but the AMC will keep it.

Hey Appraisal Foundation is pushing for separation of fees. I am happy. All we need is HUD to say separation of fees will happen starting soon like Sept 1st. VA already separates fees.

Appraisal foundation has some pull.

I would be just as happy if CFPB or FTC said separate fees on truth in lending disclosures. FTC has power over HUD.

 

[ZZGAMAZZ]

Total has the ability to save the report to the desktop. It saves it as a zip file because the dynamic form is so large. I know Total has a cloud backup. When I worked full time I used it, but I don’t use it now because it isn’t cost effective. I just have a hard drive backup.

Also with Total Mobile when you are done you upload your notes to the cloud, and then download them at the desktop. That is a very important feature. I always try to upload things right away when I’m done. But the notes from Mobile will automatically go into your digital work-file tied to that report.

I have heard that ACI may be more cloud based. I have a couple appraiser friends that use ACI and are frustrated because they haven’t had much to look at. But I really don’t know what Cloud based means. I am going to stay with Total, because I am so familiar with how they do things. If I wasn’t retired I may look at other programs. But honestly I am not even sure I will continue after this year. Some of it will depend upon the kind of extra fees one gets for doing a report. I sure as heck will not work for the same amount with the 3.6.

Honestly, there are probably others in the forum that have tried other programs and can speak to this issue.

Your paragraph #2 clarifies what ACI support tried to explain to me about the need for more RAM. Bit... why important to download subsequently to the desktop???

 

[Airstream]

Your paragraph #2 clarifies what ACI support tried to explain to me about the need for more RAM. Bit... why important to download subsequently to the desktop???

You want to upload what is on your phone to the cloud immediately ( or as soon as reasonably possible) because if for some reason your phone goes bad, destroyed, or simply lost, you have lost everything. I recommend that if you use a tablet that somehow you have a remote connection to the internet to the cloud.

Then what is in the cloud can be downloaded to the desktop to sync with the report back in the office.

Here is how this can save you time with taking comparable photos:

1. I almost always set up the report with as much data as possible before I do an inspection.
2. If it is a purchase I can choose a variety of comparable sales I will want to use and put them in the report (don't make adjustments).
3. Then upload your information on the desktop to the cloud. Then download to your mobile app.
4. All the comps show up on the map in the mobile app.
5. Then on the mobile app map there is an "arrow" by the comp. When you hit that it will then show up on my apple maps. It goes into my "car play" in my vehicle GPS, and I can drive to it.
6. By the comp in the mobile app there is a little "house." Hit that and your camera opens up. Take picture and away you go. Do that for all the comps.
7. Then when I'm done taking all the pictures I upload that to the cloud, and download that unto my desktop. Now all my pictures are in the right place. Just have to arrange the pages a bit and check the labels.

This is where the mobile app saves time in the field. Not only does it organize your inspection, but when you take photos they are labeled. When you sync with your desktop everything is in place. No searching for photos at the desktop!! Check the labels (which by the way are already there.) Then I often may make additional comments in the picture description if I want to emphasize something.

This will be even more critical with 3.6 because of all the pull down menus and pictures scattered throughout the report. Make sure you always upload to the cloud as quickly as possible to prevent losing data. Now having said that I don't think in 15 years of doing this I have ever lost data. But you need to CYA.

 

[Trihard]

The appraisal fee may go up 25% but the AMC will keep it.

Hey Appraisal Foundation is pushing for separation of fees. I am happy. All we need is HUD to say separation of fees will happen starting soon like Sept 1st. VA already separates fees.

Appraisal foundation has some pull.

I would be just as happy if CFPB or FTC said separate fees on truth in lending disclosures. FTC has power over HUD.

The separation of fees is a good start but it still won't solve the problem.

 

[Non Sequitur]

The separation of fees is a good start but it still won't solve the problem.

Correct. AMCs with staff and national staff firms have captured an oversized share of the market and continue to squeeze independent appraisers out. If the GSEs don't adopt the VA appraisal assignment system soon, independent appraisers will be all but gone from that side of the business.

 

[Airstream]

Correct. AMCs with staff and national staff firms have captured an oversized share of the market and continue to squeeze independent appraisers out. If the GSEs don't adopt the VA appraisal assignment system soon, independent appraisers will be all but gone from that side of the business.

It is already happening. When I started in 1997 and took the courses, the courses were full of people in their 30’s and 40’s. Those people are now in their 60’s and 70’s. Many, like me, are still either full-time or part-time. But the fact is appraisers are not being replaced as quickly as they are leaving. And the main reason are the AMC’s that have destroyed our fee structure. I remember when the HVCC came in and literally my 300 client list was gone, and it came down to about 10 AMCs. It was horrible for my business. And my fees took a 30% average hit.

The other day I got an order for $425 on a rural property. What a joke. I simply turned it down. Then guess what they do? They send a blast email, which I got the next day, for fee and turn time.

Now take that versus a bank I work directly for. They send out an order to me for $605. No AMC. And I happened to talk to one of their chief appraisers and they said they will be raising fees by $250 when the 3.6 is ordered. In other words, they value their appraisers, and they choose appraisers that do the job right.

I got an order from a bank the other day that wanted me to drive 4 hours to the job. They paid me $2500 for a condo appraisal. I was a bit shocked they did it. But this is the third time this bank has paid that to me for doing distant appraisals in a market I did for 10 years.

If lenders did that…there would be appraisers in the business.

But all I can say is if AMCs do not pay appraisers a reasonable fee and they expect us to do the 3.6 which is going to take more time, you will see older people like me just leave the business and young people will stay away.