AMC's - What do they do?

[Kevin Mc]

Those were the 'fairly good years' when fees were 'reasonable' and very VERY summary reports not only acceptable but the norm. AMC's wanted fast - well sometimes fast meant not as clean as one would have wished . Proofreading has never been my forte! I refused to compromise on competency, turn time was the best I could do and always remained dependant on staying on the side of the angels in competency!

There is only so fast and so low this kid can go in fee - don't do much AMC no mo!

So you did a good job for them, they forced your hand with turn times and fees and you come here to defend them? I like Joe Moore. I appreciate the fact that he posts here and often defends his company's position. That is extremely admirable considering what a den of vipers this place can be when discussing AMCs(myself certainly included). With that being said, the fact that they have reduced fees over the years(while certainly not reducing their own), catered to the least experienced hack skippy mills, treated those that served them well like sh*t and put time constraints on folks guaranteeing an absolute sh*t product isn't lost on me. I guess it is on you.

 

[Karl]

Joe Moore knows more forgotten more about Appraising than those that trained the ones that got the license in past 4 years know. So whats that tell you about them??

 

[peturner]

HMMMMMM wonder if the IRS would like to see the instructions from some of these AMCs.....Your fee will be $___.00. You will call the contact within 24 hours......you will return the completed report within 48 hours....you will stay in constant contact with regards to status.....HMMMM.....sounds like an employer/employee relationship to me.

 

[Farm Gal]

So you did a good job for them, they forced your hand with turn times and fees and you come here to defend them?

Eh? Get REAL... I am far from providing a defense on the actions of AMC's. The Original Poster had an inquiry, to which I attempted a civil response- as well as a slap back at some folks who were being very PERSONALLY uncivil to someone I respect!

I like Joe Moore. I appreciate the fact that he posts here and often defends his company's position. That is extremely admirable considering what a den of vipers this place can be when discussing AMCs(myself certainly included).

OK and so you choose to PARTICIPATE in the incivility through your inaction in permitting the individuals perpetuating it - Which individuals I will note are acting in direct violation of forum rules? This place is what we the participants make of it. If you all want to hang out in a sewer, feel free, - me I bring my bleach, a brush and a set of gloves and get after crud when I can!

With that being said, the fact that they have reduced fees over the years(while certainly not reducing their own), catered to the least experienced hack skippy mills, treated those that served them well like sh*t and put time constraints on folks guaranteeing an absolute sh*t product isn't lost on me.

I think it isn't lost on many of us. I live in a rural area NEAR a major metro- Skippy took not just my butter, but my bread, the breadboard and damn near the kitchen counter!

I guess it is on you.

Nope- I developed a different business model, and got into other areas of appraising including General work... It is on the folks who elect knowingly (or unknowingly) to produce a poor product while working for below minimum wage at a high pressure job with known financial peril and liability. I damned near lost my house trying to retool. I still ain't happy about my financial position, but some of that was attributable to circumstance of family heath... not solely the fact that someone moved my cheese.

If the market (clients) accept such work product shame on them. If the producers are unknowing - :new_2gunsfiring_v1: shame on THEM... and if the unknowing producers and cheapskate AMC/Client base gets their tail in a knot (which appears to be the case) shame on both of them.:new_tomato:

Appraisals come like most other products: Cheap, Fast or Right.

Clients get to pick 2, cause there is only so much economy of scale which can be applied to a professional work product of BOTH fact finding and the mind!

They went first for the FAST modality then went after cheap, until now they have pure.

 

[Truett Neathery]

They obviously have filled a need that lenders wanted.

TC

The "Lenders" you speak of are clerks who have found a way to do nothing, besides send the boss man out to make promises you can't keep!

Then they get to keep some of your fee!!

TN

 

[Truett Neathery]

Where are you?

I don't get on here much, as I can only access this site from home, but-----------------I used to get a lot of good info from Joe Moore. Joe, if you're out there, I hope you have'nt stopped posting!!
TN

 

[psmith2170]

With the agreement Cuomo, struck with Fannie and Freddie last week, we may ALL have to work for an AMC if we want any lender work after 1/2009. Appraisers should get together NOW or the AMC's will have us all by the --- next year!

 

[TC]

The "Lenders" you speak of are clerks who have found a way to do nothing, besides send the boss man out to make promises you can't keep!

Then they get to keep some of your fee!!

TN

You must have lousy clients.


TC

 

[Kevin Mc]

Give it a rest.

OK and so you choose to PARTICIPATE in the incivility through your inaction in permitting the individuals perpetuating it -

A joke about a yacht and and a fruity drink and I am suppose to jump in and castigate the poster and defend Joe Moore? I didn't find it all that offensive and Joe Moore is certainly capable of defending himself. I most certainly will pariticipate with my inaction in terms of what Mr. Rex posted. Lighten up, when someone posts something truly offensive I'll send you a pm so you can rally up the civility police.

 

[Carnivore]

I had looked at several AMC's online and the products/services they provide. Since it looked like they only received and transmitted orders I wanted to try and get a better idea what they do. I did not mean for this thread to get into the goods/evils of AMC's. Thanks for the input everyone.

cwd

The AMC is nothing more than a outsourced department of a lender. This was a cost shift from the banks to the Ancillary service providers of the mortgage origination business.

The AMC does not add value to the appraisal process, the lenders were required by necessity to do all along what AMC claim they do now. What evidence do I have that AMC do not enhance the process. Ask the question yourself. What could they do that the lenders did not do before them?