AMCs are done soon

[Zoe]

There must be. I have never known how that works.

That is not what bothers me. It is the appraisal fee and appraisal management fee not being separated on the HUD-1 settlement statements and good faith estimate disclosures to consumers.

That is my problem. It is fraud.

 

[sputnam]

That is not what bothers me. It is the appraisal fee and appraisal management fee not being separated on the HUD-1 settlement statements and good faith estimate disclosures to consumers.

That is my problem.

If you are the appraiser, it's not your problem. It's also not fraud because the way it is reported is legal. I agree that it's not as transparent as it could be. I don't agree that most buyers care whether appraisal fees are shown separately or not.

 

[Zoe]

If you are the appraiser, it's not your problem.

Appraisers fought it hard to get the fees separated. I am not the only appraiser that has a problem with it.

Doesn't matter. AMCs are done soon.

 

[chad hampton]

I suspect some of the big AMC‘s are in a lot of trouble. I’m getting bid requests from the large AMCs now for 1004d’s. You’ve got to be in pretty bad shape if you’re worried about saving five dollars on a 1004d where the original appraisal is the one that should be doing it (assuming they haven’t died).

 

[George Hatch]

One thing is virtually certain - there won't be as many of them 2 years from now.

 

[Zoe]

One thing is virtually certain - there won't be as many of them 2 years from now.

I expect artificial intelligence to wipe them out. I am serious. Be way more efficient and way more effective. Bank and borrower will pay less for the service and won't care if it is separated on truth in lending disclosures.

 

[Zoe]

It still should be separated on truth in lending disclosures to borrowers. $50 appraisal management fee. Appraisal fee $XXXX

Appraisal management fee may be $5 or less by then. Bank will just absorb it.

 

[Zoe]

Appraisal management fee may be $0.25 ( a quarter).

 

[sputnam]

Appraisers fought it hard to get the fees separated. I am not the only appraiser that has a problem with it.

Appraisers fought to get the fees separated in an effort to get paid better. I don't think that there are many Buyers and Sellers who care about how much, or how little, the appraiser is getting paid. They just want to take possession of the property they bought and get on with life.

 

[ucbruin]

Appraisers fought to get the fees separated in an effort to get paid better. I don't think that there are many Buyers and Sellers who care about how much, or how little, the appraiser is getting paid. They just want to take possession of the property they bought and get on with life.

I assume your assumption about sellers/buyers is correct....