Amrock AMC

[Cob]

I wouldn't say "WAY" before, as I used to do some work for them before they became worthless and never did experience what is being reported now. My guess is they changed because, given their volume, their potential repurchase demands could bankrupt them if Freddie and Fannie decide to collect bad loans they have made.

"While seller repurchases of Fannie loans fell sharply in the second quarter, buybacks of Freddie loans were up. Rocket Mortgage and United Wholesale Mortgage ranked at the top of GSE buybacks for the first half of the year. "

Lender Buybacks Steady in 2Q, Pending Claims Rise

While seller repurchases of Fannie loans fell sharply in the second quarter, buybacks of Freddie loans were up. Rocket Mortgage and United Wholesale Mortgage ranked at the top of GSE buybacks for the first half of the year. (Includes three data tables.)

www.insidemortgagefinance.com

I don't understand, you asked me something, while being pretty much smug about it and then come back at me with this, go argue with someone else, I'm not intrested..............

 

[TerryRohrer]

I don't understand, you asked me something, while being pretty much smug about it and then come back at me with this, go argue with someone else, I'm not intrested..............

Surly much?

 

[keaw1]

I am amazed I lasted as long as I did working for them (13 yrs , 2 states) I don't know for sure but every time they got sued it got worse. The recent one is not the only suite. I should have left long before they forced me out. They got to me so bad I was calling reviewers. One ended up sending a report to the state. I had to defend the report which I did but the worrying was devastating. Now I get Rocket Mortgage through other AMC's and have not had an issue.So my vote is :No it is definitley not you!

 

[itisaam]

Anyone else having issues with this AMC. Lately it seems they are trying to find fault with anything and everything. They ask things no other AMC asks for , they send back reports and state the info is not in report and I can clearly find it and send it back to them. Then they Rate us and try to chew us out for their mistakes. It seems they have created jobs in their AMC to "judge and scold" us. I have worked with them for years and have decided enough is enough. It is me or ?????

Why are you still there..

 

[Damienvball]

Anyone else having issues with this AMC. Lately it seems they are trying to find fault with anything and everything. They ask things no other AMC asks for , they send back reports and state the info is not in report and I can clearly find it and send it back to them. Then they Rate us and try to chew us out for their mistakes. It seems they have created jobs in their AMC to "judge and scold" us. I have worked with them for years and have decided enough is enough. It is me or ?????

I worked for Amrock for two years. And about 18 months ago they started picking apart my appraisals (which they had never done before) I got reviewed, coached then they said "ok your work is not under review anymore, it has improved". THEN Rocket Mortgage sent me a letter that they are excluding me from working for them, based on the same 2 reports which Amrock had reviewed and coached me over four months earlier. Rocket gave me No warning. I appealed but they did not reverse the decision. Then Amrock cut me loose, since Rocket was their only lender. My former ambassador with Amrock told me whenever the market is slow, they pick apart reports. I know at least two other appraisers that have gotten cut off by Rocket & or Amrock. When it gets slow the reviewers/underwriters have to justify keeping their jobs. So they get nuts. I got so stressed last summer with their revision requests on every appraisal, with that company, that I took off two weeks to keep my sanity. No other AMC or lender has to this date been so picky with my reports and things go smoothly. No requests for "why didn't you mention that there is a park 2 miles from the subject" I was told that in 2023 Amrock laid off 15,000 employees due to a slow market. And I think Rocket has more appraiser than work. Companies are now "trimming the fat"

 

[shrubberyvaluation]

I worked for Amrock for two years. And about 18 months ago they started picking apart my appraisals (which they had never done before) I got reviewed, coached then they said "ok your work is not under review anymore, it has improved". THEN Rocket Mortgage sent me a letter that they are excluding me from working for them, based on the same 2 reports which Amrock had reviewed and coached me over four months earlier. Rocket gave me No warning. I appealed but they did not reverse the decision. Then Amrock cut me loose, since Rocket was their only lender. My former ambassador with Amrock told me whenever the market is slow, they pick apart reports. I know at least two other appraisers that have gotten cut off by Rocket & or Amrock. When it gets slow the reviewers/underwriters have to justify keeping their jobs. So they get nuts. I got so stressed last summer with their revision requests on every appraisal, with that company, that I took off two weeks to keep my sanity. No other AMC or lender has to this date been so picky with my reports and things go smoothly. No requests for "why didn't you mention that there is a park 2 miles from the subject" I was told that in 2023 Amrock laid off 15,000 employees due to a slow market. And I think Rocket has more appraiser than work. Companies are now "trimming the fat"

Makes no sense from a business standpoint. Its not really fat as a contractor, more contractors means more options and more competition to lower fees and decrease turn time.

 

[OSU Beavers]

Reviewers need to show their bosses that they are still revant even though volume is down, so they mark a higher percentage of reports as deficient.

 

[bluechip]

Anyone else having issues with this AMC. Lately it seems they are trying to find fault with anything and everything. They ask things no other AMC asks for , they send back reports and state the info is not in report and I can clearly find it and send it back to them. Then they Rate us and try to chew us out for their mistakes. It seems they have created jobs in their AMC to "judge and scold" us. I have worked with them for years and have decided enough is enough. It is me or ?????

It is not you. At a point in history they paid well and didn't nitpick unless absolutely necessary. Now everything is a nightmare. Then your tier rating drops like a hot stone. They adjust how much the compensation is. IE: I use to get paid $500 for a rural job. Same job today is $425 - Why? The work is still just as complex. Why would anyone want to continue working for them when you fee is messed with and the ROV is a nightmare. In my opinion when the new forms drop, the additional time spent at the property, the additional time spent analyzing the comparable sales you didn't use, providing graphs for every adjustment on the report, etc. - Do you actually think that any AMC is going to pay you more. My thought is probably not. What is the reward to continue working for any AMC? I don't see any.

 

[alebrewer]

Reviewers need to show their bosses that they are still revant even though volume is down, so they mark a higher percentage of reports as deficient.

Have a buddy who had a reviewer reach out to him and state exactly that. That he wrote a good appraisal, but that the reviewer just had a lot more time to dig in, so the revision requests were superfluous, but required.

 

[Tom D]

Interesting inside info.

But for some of yous, it's talking down the girlfriend that started complaining about everything you do. I have no emphathy for AMC plantation workers boohoos..