Amrock AMC

[thought I knew]

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 ?????

 

[Terrel L. Shields]

Who knows. Perhaps one of their clients is vetting them and complaining that they are not reviewing the report closely enough.

 

[lostinthezone]

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.

 

[David S]

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 ?????

Yes. I got similar hit last year. Every adjustment they need pair analysis. Right now I just quote them fee a little high (because I told them I need more time and effort to work their every assignment) and didn't get any assignment for a while.

 

[Cob]

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.

I have completed reports for them for YEARS and beleive me, that has NOTHING to do with it.

 

[Cob]

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's not just you, but I can tell you one thing, after having multiple conversations with different people that work there, if you just turn in an appraisal fast ( 2-3 days before due date) they will still rate you higher on their rating system, even if they have to contact you 100 times for revisions, they basically don't care about the quality of the report, they just want it turned in fast.

I even asked someone there once, so if I turn in an appraisal on or around the due date and I NEVER get a call or email back for a revision, the person who turned in an appraisal report with a TON of mistakes and revisions will still get/have a highers score than me, just because they turned in the report earlier than me, the answer was, YES.

That's how they operate, that and they basically want EVERYTHING in the report, things you would just normally have in your work file, they bacically want to know what the home owner was wearing at the time of the appraisal, note EVERYTHING in your appraisal report, even items you DIDN'T adjust for.

 

[TerryRohrer]

I have completed reports for them for YEARS and beleive me, that has NOTHING to do with it.

Well then, 'splain it to us unwashed and unknowing!

 

[Cob]

Well then, 'splain it to us unwashed and unknowing!

They changed what is wanted/expected on their engagement letter WAY before getting accused of anything by the DOJ.

 

[TerryRohrer]

They changed what is wanted/expected on their engagement letter WAY before getting accused of anything by the DOJ.

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

 

[Fritz in NY]

Let's say, I'm a Professional Mason, 20-35 years of building experience. A regular, well known Union person. I now have a contractor that wants me to alter a fine, perfectly built brick wall, built to all local codes that was completed 20 days ago. Then someone wants a change, because they want to.
We have a problem, beyond my bank account and patients. Why do we let this happen?
We build great reports, that meet or exceed all of our industry norms, and we need to "Change" them with no rhyme or reason to us,