Appraisal With No Inspection By Appraiser?

[Joe Flacco]

Or employees?

https://www.indeed.com/cmp/Servicelink/reviews

At least half of the former burger flippers seem to be satisfied.

 

[George Hatch]

You folks understand the AMCs aren't the ones driving the decisions FANNIE and the lenders are making WRT how much/little appraisal to buy, right?

 

[Deleted member 139442]

LOL !! Fortunately for me, the happy ones far outweigh the complainers. In fact, I just shared some great emails from happy, thankful, appraisers with some staff. It is the nature of the social media universe.

I get it. JB is unhappy that someone in his market does similar work for less, and that impacts him. I dealt with the same thing for over 25 years. It is called......business.

When I compare appraisers I don't compare with all other appraisers. As I said, i compare to other appraisers with similar quality and service. That is an appropriate comparison. And, we quantitatively measure those things. It is not a "touchy-feely" thing.




Oh, it is easy for an AMC, and most would LOVE to go that route. That is not the issue. The challenge is the lender who must disclose the total fee on the front end. How can they do that when you charge $450 and I charge $425 and Alan charges $500? Lenders simply do not want to deal with re-disclosure for small fee changes, as TRID would require.

Wells pays $450, Suntrust pays $450, Fidelity pays $425, VA pays $440. etc. Others pay more, some less. Last order I did was SL was $325 in 2012. I found better clients and left SL. Just business. Set the fee so that appraiser's complete for your business. If an appraiser can get more, they go somewhere else, If they can't get work, they go to clients that pay less. A cost plus model isn't hard and you have the data.

I'm not unhappy with SL, just wish you wouldn't pretend that quality and price are unrelated. Ya'll pay some of the lowest fees in the market and complain the loudest about appraiser quality, turnaround time, shortages, and service. That is my only beef with SL.

 

[Evincere]

Or employees?

https://www.indeed.com/cmp/Servicelink/reviews

Most seem happy with the social activities. I dunno.... Ya think this employee lied about the paper plates?

“ServiceLink's primary focus is to keep spending as low as possible. They realize the two highest costs to operating are paying it's employees and vendors and they work hard to ensure those costs stay as low as possible. The office I worked at had even cut cost by eliminating Paper plates, Styrofoam cups and plastic utensils from the break / lunch room and removing majority of vending machines.

Annual reviews consisted of ensuring that employees were not given exemplary scores perhaps as a means of keeping employees under-thumb or potentially to avoid complications when mass-layoffs occur. You cannot count on security in your employment even if you consistently perform well to meet and / or exceed performance goals or have even been a long-standing hard-working employee.”

 

[Joe Flacco]

They ran out of space for paper plates and utensils in the dumpster with all those mortgage documents in there.

 

[DWiley]

Wells pays $450, Suntrust pays $450, Fidelity pays $425, VA pays $440. etc. Others pay more, some less. Last order I did was SL was $325 in 2012. I found better clients and left SL. Just business. Set the fee so that appraiser's complete for your business. If an appraiser can get more, they go somewhere else, If they can't get work, they go to clients that pay less. A cost plus model isn't hard and you have the data.

I'm not unhappy with SL, just wish you wouldn't pretend that quality and price are unrelated. Ya'll pay some of the lowest fees in the market and complain the loudest about appraiser quality, turnaround time, shortages, and service. That is my only beef with SL.

2012?? Well, at least you have very timely information.

I am curious, do you tell your doctor/lawyer/accountant what he/she will charge? Or, is it the one providing the professional service who sets the fee in such cases? The mere notion that I could set fees is pretty funny. It is the service providers in the market who set fees, not those buying their services.

 

[The Bob]

The reason lenders haven't/won't adopt cost plus is because it will increase their costs. The ONLY way the AMC model works is by taking part of the market fee for the appraisal. If AMC's added value, they could certainly charge for it. They don't and they can't.
I don't see how TRID has any impact. I have direct lenders that pay a set fee. The fees are such that I have, so far, never gone back for a higher fee. So what would prevent them from using an AMC, paying the same fee I get and paying the AMC the "plus" for managing?

 

[Terrel L. Shields]

Who among us can even know what their actual performance looks like?

Most companies know the consequences of offering a 5 day turnaround and not delivering. And HC has been around the horn for a while.
And they did beat Amrock in court and Amrock is appealing but that could mean $700 million to the good. It's not like they are not "in business"... ReMax has a strategic alliance with them, etc. So...? Their word is as good as the next company, low a bar as that may be.

 

[chad hampton]

lol, if my dr, lawyer, or accountant said his/her fee was half of what is C&R for the profession, I would definitely not use them.

 

[Deleted member 139442]

2012?? Well, at least you have very timely information.

I am curious, do you tell your doctor/lawyer/accountant what he/she will charge? Or, is it the one providing the professional service who sets the fee in such cases? The mere notion that I could set fees is pretty funny. It is the service providers in the market who set fees, not those buying their services.

Yeah, It's been awhile since I had to work with SL. I'm very greatful for that. I don't tell the doc what to charge, but insurance companies do. If a lawyer/account is too expensive (and not worth it) I go somewhere else. But when I find a good one, I pay their fees. Same with anything else.

Well, If I could set the fee, why not $1500 for a 1004? I'll even put up with SL for $1500/report.

The fees are agreed to by both parties. You say you can't do a cost plus model because you don't know what the appraisal fee is going to be. But you also talk about how you have all this data on what a C&R fee is. Either you know or you don't.