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Can't Get An Appraiser

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wep said:
So what am I supposed to do as a loan applicant?
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I would get a new lender and tell your current lender that the AMC they use is lying. Lying? Yes. There are plenty of appraisers in your area but most likely few who are willing to work for Assurant/Streetlinks or the fees they are offering. The appraiser you will get will be a person willing to work for a very low fee and for a company that has extreme requirements. The only thing they want is a low fee so they can pocket as much of the $515 you paid.

Was the loan officer up front with you and tell you that your $515 appraisal fee would be split between the appraiser and a company that hires former fast food workers that spend all day on the phone looking for the fastest and cheapest? Do you think that the person who comes to your house for this appraisal will be one that Assurant deems to be competent for the report or was the cheapest one they could find?

My wife has a nice car that cost a lot of money (you have a house that cost a lot of money). She doesn't take her car to the cheapest quick-change oil shop to save a few bucks. That is how many AMCs work.
 
In addition to what others have said, there are appraisers that just won't work with management companies under any circumstances. Many of these management companies do not pay appropriately, have very demanding turn times, demand constant revisions which may not even be required by the lender, and take a long time to pay.
 
Isn't this snipe hunting season in Texas? Undoubtedly difficult to find an appraiser.
 
Consider throwing in another $515 for an appraisal?
 
@op

If it were my loan. I'd put loan officer and company on blast on this forum. Name and phone #. You'd have appraisers calling saying where do I sign up for this appraisal for $515 on a 900 sq ft house?
 
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gregb said:
Op paid $550 to Roundtree Mortgage who uses streetlinks, who is probably going to pocket $200-$300, leaving peanuts for the appraiser.

https://appraisersforum.com/forums/threads/appraiser-needed-in-odessa-tx.217745/#post-2786521
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Looks like put up or shut up time for appraisers.

Flood office with phone calls sayin ill take it for $550 but not from an AMC.

Want to help the public? Nows your chance.

If guy doesn't get order filled by tomorrow. I'll start to side with a shortage of appraisers nationwide in every aspect.
 
wep said:
Hello, Sorry to bother again. But I don't understand why an appraiser has not accepted the order for my home. Assurant is looking for someone in the Odessa/Midland Tx area to take the job. At least that's what I've been told. Do they contact only certain ones? Or do they post it on some sort of board? Thanks, Wes
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Wes, rest assured, you are no bother to us. :) Unless you are in a rural area be very sure to ask your loan officer to ask Streelinks if they will be sending an Appraiser from another county, and if they are, exactly how many counties away they are from your property.

You as a borrower do not have to accept the inspection if you are not comfortable with the information given to you by the loan officer. You most definitely want to make sure the Appraiser who does come to your property has all the necessary data to complete the report and that he is "familiar" with your market.

wep said:
So what am I supposed to do as a loan applicant?
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Cancel the loan, demand a refund due to non performance or incompetence and shop another lender.
 
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