"customary And Reasonable Local Fees" Clarified Thanks To Working Re Survey

[paulina]

Write them another letter and tell them you understood perfectly the first time they replied, but obviously they didn't UNDERSTAND what you were saying. Send them a "hard copy" with a cc to your local Congressman and Senator. I have heard it is better than email and when you start mentioning the Congress, those bureaucrats gets scared.

 

[Tim Hicks (Texas)]

FYI, I received an offer from LSI to do an FHA appraisal for $210. I did not take their FHA test. I declined the order and stated the customary and reasonable fee for an FHA appraisal in this area was $350. They re-sent the order with a $350 fee today.


Thanks Dave!

 

[OSU Beavers]

TX Tarrant $ 375 Squeeze 'em for more!

 

[FHA Steve]

It is even worse than THAT - AMC and Large Appraisal Firms

I got a call from an AMC yesterday and they wanted me to sign up with them and agree to the fee of $275 for FHA appraisals. I told them that my "customary fee" was between $400 and $450. and reiterated the FHA guidelines about paying customary fees. These guys have it made, because NO ONE at FHA is going to be checking up on them to see if they pay appraisers the "customary fees". What a joke this has become. It it wasn't so sad, it would really be a joke !!!

I got a call from a national Appraisal Co. who started the call by telling me that they were not an AMC, but a split fee shop. However, they then said they get most of their orders from AMC firms. They said they get paid $225, and would split with me and give me $175 per appraisal. I said I am FHA certified, what about the customary fees ordered by FHA? The guy then told me if someone will do an FHA appraisal for $175 then that is the customary fee. What a joke!!!!

http://www.ipetitions.com/petition/kill_hvcc/

I have lost over $50,000 in wages since the State Attorney General from New York State, an elected official set Federal Policy by getting the Fannie Mae and Freddie MAC to adopt the Home Valuation Code of Conduct, or HVCC. (HVCC gave all of my clients to Appraisal Management Companies (AMC’s) Please sign this petition

http://www.ipetitions.com/petition/kill_hvcc/ and donate anything, even a dollar to help me with the LEGAL Fund to KILL HVCC. Even if you cannot donate, please just sign it. Cuomo was on the Board of Directors of an AMC and is guilty of Major Conflict of Interest, and Antitrust Violations.

http://www.youtube.com/watch?v=lDUpXwoj5Ck ß-----------HVCC Humor from YOUTUBE

 

[Tim Hicks (Texas)]

TX Tarrant $ 375 Squeeze 'em for more!

Sadly, in one of two counties that $350 was customary.

 

[Mile High Trout]

Reasonable and customary is what the appraisers deem it to be. SOW. The industry is at odds, due to external influences.

 

[Jeremy Tappan]

I have been looking at this as well with an arched eyebrow. Even if you were to point out what you consider the fee should be, backed by the industry report, who do you complain to?

I would hate to think we have to go to our local congressman whenever an AMC low balls these fees.

Also it seems that if a company calls, or even better e-mails, you saying that there are plenty of others out there that will take the assignment for a low fee, does that not indicate a refusal to assign future orders? This would be an HVCC issue.

 

[Metropolis]

Yeah, none of this really matters. HVCC and HUD can say whatever they like, but as long as there is no entity to enforce it, nothing has changed. There will always be scabs who are willing to undercut us, and believe me, they aren't reading this site. That would require time and and an ounce of interest. I'm bummed. Really, really bummed.

 

[Tim Hicks (Texas)]

I continue to get LSI to pay $350-375 for FHA orders. I just decline and state the customary and reasonable fee for the area. At least once a week it works.

 

[croshak]

The sad thing about all this is that we as appraisers can make the fees what we want. The problem is everyone would have to ban together by areas or as a whole industry. It would be fun to have the low paying AMC's scrambling trying to get someone to except orders. But there will always be some people that will take anything.