Customary and reasonable fees - 90 days

[saxon]

It sure looks like these dirtbag AMC's are weaseling and crawfishing their way out of this.

 

[jnordquist]

Begin to take charge of YOUR future, not theirs.

Agree, we need to do this, the AMC's will not just change their mind and business plan to accomadate us. Set your market fees, send them a revised fee schedule, and stick by it.

Jon N

 

[KenAZ]

a lot of these appraiser firms have appraisers all the country; I doubt they are paying overhead. So if they do not pay any of the appraiser's overhead they are an AMC? what if the firm offered to pay your MLS fees then they are not considered an AMC? For example I have an appraisal office (corp) in Washing DC. I then have appraiser's all over the country that I send orders to and I take 40%. the appraiser is responisble for all overhead except the MLS fees. I have them sign a 1099 or w2 and pay the employer taxes so what would this be considered? Thanks

If you have less 1099 contractors than 15 for a state or 25 for a nation, you are not an AMC.

If you are paid $400 and then split the fee with a 1099 contractor for $200, the $400 is the fee that is being paid for the appraisal, the $200 still does not count under any fee surveys. The "Fee Appraiser" as defined by the new law is the fee paid to the appraiser (If a 1 man shop) or to the appraisal shop.

 

[Fritz in NY]

petuner, you have the slogan, we have the alliance, let's let them know who needs WHO!

 

[NC Appraising]

LSI Appraisers how much do you get paid?

http://www.spbroker.com/forms/HVCC/LSI_Welcome_Package.pdf

http://www.msiloans.biz/Seller%20Guide/Forms/LSI_Fee_Schedule.pdf


StreetLinks

$450 for a FHA APPRAISAL!!!! 2x as much....customary and reasonable? For who? They pay the appraiser $220-$240, by what is said on other threads.

Some are $510!!!! WOW!!!!
http://www.msiloans.biz/Seller Guide/HVCC/Streetlinksl State Pricing - Apr09.pdf


MDA
http://www.msiloans.biz/Seller Guide/HVCC/MortgageServicesPricing071709.pdf





The public is getting screwed!!! HUD....... FAIR AND REASONABLE?


AND THEY HAVE THE XXXXX TO BLAME US FOR THE RISE IN APPRAISAL FEES!!!

 

[rescom]

Surveying appraisers and AMCs is biased. Obviously we are going to say its as high as possible and the AMCs are going to say as low as possible. The answer to what is reasonable for each area would be a survey of homeowners that refinanced or purchased over the last 6 months. Period.

 

[eld2310]

Wow, LSI charges $525 for a 1004 in my area. I don't know what they pay the appraisers, but I thought they were some of the lowest payers around? Maybe someone else can chime in.

Did you see this interview? http://www.tavma.org/index.php?option=com_content&task=view&id=77&Itemid=32

I don't know how old it it, but it's an interesting peek into the mind of a trait...er, pod pers...I mean Chief Appraiser of an AMC.

 

[NC Appraising]

I looked into LSI a year ago. Damon said that the current fee for a 1004 is 175.

I have never completed one order for this POS company and never will and all the appraisers that do work for them can stick it.......No, I'm not sorry.

I'm just so happy that there are not owned by any banks, so they cannot get exempt. Just reading about LSI and these other companies makes me sick.


The fleecing of America...

 

[olapp]

I called CitiMortgage last month tried to refinance my loan. They want me to pay $600 for the appraisal fees.

The banks and AMCs are trying to rob everyone now. We all should say NO! to AMCs.

If AMCs still around. We all should blame on the cheap appraisers.

 

[Ray Miller]

It seems that most feel $400 to $550 is customary and reasonable fee for the 1004.

Then what is the customary and reasonable fee for a 2000 FR forinsic fannie Mae? You spend hous entering data all the CMA MLS data sheet for each listing, MLS sheet for for all the new and original comparables, tax cards for all the comparables original and new, pictures at the time of the OA of subject and comparables, new pictures of the original comparbles and new comparables. You got hours of drive time doing these in the rural area, then time writing the report you can have five to seven days in just one report.

What should the fee be? $3500, $5000, $7500???

I had a call last night from a man that put up $1200 deposit to have four acres appraised for a condanation. He got his finial bill yesterday afternoon and it was an additional $7900 from the appraisal company. That company bill 16 additional people from $7900 up to $12,000 that was involved in the taking. A total of near $200,000 for about a total of 800 acres of raw land.

The kicker was that had him ****ed off was he only got $12,000 for his four acres and yet he had an additional $6000 in legal fees on top of the appraisal fee. He lost his A SS on the deal.

So what should our fee’s really be for all the different kinds of work we do??

PS. I could name the appraisal company out of Northeast Wisconsin, cause he ask me if I knew of them.