AMCs are done soon

[glenn walker]

Goodness, is someone maybe looking into Fannie's choice of 6 AMC vendors for the new "Value Acceptance" aka "Appraisal Waivers"? Could someone have finally made the connection? With a looming economy crash, is someone else thinking about potential bailouts? Taxpayers have too much to deal with already.

No not at all in fact just the opposite as the Four biggest AMCs are almost like silent partners with our biggest agencies.

 

[glenn walker]

wow pouring the kool aid...#fastapp

George correct the Money Center Banks got rid of the MBs and then sold their AMCs to other Corporations to get rid of them. No banks and lenders want to get into the appraisal business again as its not a profit center.

 

[TC]

If this world blows up it'll just be the cockroachs and AMCs that will survive.

 

[George Hatch]

wow pouring the kool aid...#fastapp

Well, I didn't know it was going to happen. What I did know in 2005 and what I had been telling appraisers in the early 2000s was that the long term demand for appraisal services wasn't going to generate enough volume to support all of the appraisers that the sweatshops were adding. I figured a lot of appraisers would end up getting starved out, just like had happened in the early 1990s.

 

[Tiffany Gibbons]

No not at all in fact just the opposite as the Four biggest AMCs are almost like silent partners with our biggest agencies.

Which 4? Who do you mean by "our" biggest agencies?

 

[glenn walker]

Which 4? Who do you mean by "our" biggest agencies?

 

[Charles West]

Just had a broker/appraiser from So. Cal. who I think is related somehow or is writing a newsletter piece for Bain Capital about the state of the appraiser profession, called me for a brief phone interview. I basically told him what he already knew about the state of the industry after he mistakeningly made me out for a recent retiree from the appraisal business, thinking I had just recently exited the biz in 2020 when my license expired, instead of in 2013 when I really checked out. Seemed like a nice guy, gave him my email address, and will post when he sends it to me.

 

[Zoe]

Maybe

You have made very good historical observations. Many appraisers like working in house for a bank and managing the process. Many work for regulators or other entities.

When this appraisal bias panel gets through, there will be changes. These are the most powerful regulators outside of the FTC that exist.

 

[Zoe]

I don't think AMCs will be in the future. I am not even sure GSE will be in the future. TAF is probably hanging by a thread. ASC is probably okay.

This appraisal bias panel will make changes. We shall see. They have both the money and the power to make changes. Next witnesses will be interesting.

 

[Zoe]

I think of AMCs as a useless commodity. I don't know how this appraisal bias panel sees them. More hearings to come from the most powerful banking regulators in the world.

Definition of COMMODITY

an economic good: such as; a product of agriculture or mining; an article of commerce especially when delivered for shipment… See the full definition

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