Amrock AMC

[Cob]

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.

Ding, ding, ding, we have a winner!!!! Appraisers can either continue to try cramming a square peg into a round hole doing GSE work, or try to find something else to do for a living, I have picked the later of the two options, I have already started doing arbitration work, it pays usually beween $450-$750, no revisions, no explanations, I give my decision on which party I side with and I am 100% done, it is bidding and that's it, the way that my work flow is as an appraiser, this will take over appraising and I will find something else to do as a second source of income.

 

[Damienvball]

I believe Amrock is the AMC of Rocket Mortgage who is in the news lately for being sued by the DOJ for Appraisal discrimination. My guess is that they are likely toughening up their review process in response to that.

no, they started picking apart appraisals 1.5 years ago when the rates were on the rise and it got slow

 

[Cob]

no, they started picking apart appraisals 1.5 years ago when the rates were on the rise and it got slow

Before that, you would NEVER hear a peep out of them, on pretty much ANYTHING.

 

[Tim Hicks (Texas)]

This tier rating thing appears to be thing only the AMC controls and all AMCs use them. Should we adopt an AMC tier rating system on this forum?

My hope would be that lower tiered AMCs would get appraisers to refuse their work, but I just don't think that appraisers are strong willed enough to do that.

Or just choose not to do AMC work. Which is what I have done for several years. I slip up every now and then and will do an occasional job for smaller AMCs. However, you will find that lenders that don't use AMCs have many of the same policies as these executives and underwriters get passed around like day old bread.