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Amrock AMC

bluechip said:
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.
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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.
 
lostinthezone said:
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.
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no, they started picking apart appraisals 1.5 years ago when the rates were on the rise and it got slow
 
Damienvball said:
no, they started picking apart appraisals 1.5 years ago when the rates were on the rise and it got slow
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Before that, you would NEVER hear a peep out of them, on pretty much ANYTHING.
 
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.
 
lostinthezone said:
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.
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The Winter/Spring issue of Working RE has a lengthy article on the DOJ discrimination complaint. At the end of the article, the author references Rocket's ad dissing appraisers; one on Facebook, the other on TikTok. Here's one:
https://www.facebook.com/video.php?v=523127600174905
 
I got canned last week. I went from being their top appraiser to being removed from all counties.

Their rep even wanted me to become their preffered appraiser in a county...you had to accept all work with a rejection of less than 5 %. I said no thanks.

I have never in 20 years sketched a I ground pool for HUD. My fault. Never been called out for it. Yeah, I guess I should have although no where in the guidelines does it specifically say to for pools. Either way it got rejected by the lender....avg turn time goes from 4 days to 14 days. My rejection score goes up. 1 rejection gets me removed for that county.

Got another rejection because I made the report subject to and the borrower did not understand what positive drainage means. Score goes down.

One of my reports gets randomly reviewed..reviewer says I didn't mention the airport, did not have any support for my time adjustments, etc. She missed them.

Who gives a shet. I only started taking orders to see if was as bad as everyone says they are. They are.

It shows you competitions turn times...2.3 days. Sorry ant going to happen. Must be one of those firms with teams.

I'm glad I do not need their work. No loyalty and the stress of putting out a perfect report 100% of the time will literally cause health problems. I don't need that stress.

Working with the large AMCs is just like playing Russian Roulette. Don't do it unless you are anal retentive or are a skippy that does not make adjustments.

Like others have said turn times are important but rejecting reports will get you canned also. Before I got canned, the team was concerned that I was rejecting to many reports. The way I saw it was that I was down the their and getting the harder orders, which increased my chances of getting a bad audit and more rejections.

Lose lose situation.
 
I guess we, Appraisers, have been barking up the wrong tree. NO ONE CARES!: LO, "make the deal work", AMC, "deliver a stellar performance for $ 300. less than C&R fee in 48 hours", Borrower, "I got the loan anyway, who cares", GSE's, "if it fits our check box options, it's OK", HUD, as long as Trump keeps us employed "anything goes", Investors, If we can sell the paper, "it's not our Problem", General public, "What's an Appraisal?". Taxpayer, "what's a bailout?"
 
Fritz in NY said:
I guess we, Appraisers, have been barking up the wrong tree. NO ONE CARES!: LO, "make the deal work", AMC, "deliver a stellar performance for $ 300. less than C&R fee in 48 hours", Borrower, "I got the loan anyway, who cares", GSE's, "if it fits our check box options, it's OK", HUD, as long as Trump keeps us employed "anything goes", Investors, If we can sell the paper, "it's not our Problem", General public, "What's an Appraisal?". Taxpayer, "what's a bailout?"
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I will say that their fees were higher than the clear capital and class clown show that I will never work for.

I also have came in below the contact price several times and never had a problem.

Their scoring system needs to be fixed before I will ever work for them again....but who I'm I kidding...we are just pee ons...ants.....use us and abuse us....may I have another?
 
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