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

[TC]

Ever hear of supply and demand?

Yeah, I have. But now thanks to Broccoli Head I can no longer compete with jerk-wads like you.

 

[GCJim]

Correct. Selling appraisers software is pocket change in ACI world. Selling AMCs and lenders software is their bread and butter.

And likely all the Data. These are the primary reasons I dumped ACI 4 years ago.
There is likely great pressure on all of them now from the banksters to assimilate or be destroyed.

 

[Samshile]

We received a request for an FHA appraisal from an AMC with a fee of $225. Needless to say, that is well below what is reasonable and customary in this market and we countered with our regular fee. They will get back to us if it can be approved by their client. That was days ago.

Sadly, what this suggests to me is that there are appraisers willing to accept these assignments at these low fees. I do not understand how it is possible to cover expenses i.e. MLS fees, courthouse data, E & O, software, CE, travel, let alone make a living.

What it suggests to me is: The owner of the AMC is low class. They only have a place due to compulsory regulation Not choice.

 

[DJBanas]

Just read the new letter fron Working RE, http://www.workingre.com/workingre/fed-board-update-CRF-newsletter-page.html

Appears that it may be "customary OR reasonable"

 

[cdeyoung20]

Why could we not form an appraiser's guild or union? I just keep thinking something is going to change for the better. It does keep changing...... Just for the worse!

If one gets started I will be on board. The AMC's are large businesses and can afford lawyers that will continue to fight against us "Independent Appraisal Companies" that can't fight these big organizations. We are going to have to organize, in my opinion, if we want a voice that will truly be heard.
The AMC's have been violating RESPA since the HVCC started, so what did the government do. Oh, no, they didn't go after those that violated RESPA, they changed RESPA to accomadate the violators. Our fees are being split and they are listing the fee as an appraiser fee on the HUD. Excuse me, but the AMC fee is not part of my appraisal fee, if it were, I would know how much the consumer is paying on each order and how much the AMC is making off each order and I would pay the AMC. The fee should be listed as AMC fee, because it is a lie to call it an appraisal fee.

So, they are getting away with RESPA violations and what about ANTI-TRUST violations. ANTI-TRUST laws have been violated because they have stopped the ability for appraisers to compete with one another. We can not compete anymore based on our ethics, reputation, quality of report, educations or anything that really matters. The only thing that we can compete with is HOW LOW WILL YOU GO on your fees.
I doubt that the consumer would be happy to know that they are getting garage sale appraisals for retail + prices.:new_2gunsfiring_v1:

 

[Samshile]

I agree. Most of us know, even the OREA, that we are being hosed. We know we are the only ones required to be ethical. The games they play to get $25 from us is sick. Im a reguating type of guy. However, we need to keep pushing back. A class action law suit would require most of us to just donate some money.

 

[cdeyoung20]

I agree. Most of us know, even the OREA, that we are being hosed. We know we are the only ones required to be ethical. The games they play to get $25 from us is sick. Im a reguating type of guy. However, we need to keep pushing back. A class action law suit would require most of us to just donate some money.

I'm game, but we would need a lawyer that is familier with all of this. I've tried to talked to a couple and when I mention HVCC, they say "Huh, what's that". Well, that's where I end the conversation.

 

[Samshile]

Opps I meant to say I am not a regulating type of guy. I watch everyone else market there professionalism/ service or product. I get frustrated. And we have to sign up with these little plantations? Yuck

 

[cdeyoung20]

I have to wonder if any lawyer would even been willing to fight the regulators and the all of these AMC's. Well, I don't know about any other states, but in our state the appraisal classes can't even get enough students to fill a class. I've been told that it is hard to even find an appraisal course because this is not a business that too many want to get into anymore. I don't know if that is a bad thing or a good thing.

 

[DMZwerg]

I just got dumped by an AMC for asking for "customary and reasonable" fee for an FHA appraisal. They stated there is no such thing as a customary and reasonable fee for my area. They accused me of extortion, blackmail, and threatening them! They then threatened to report me to HUD! They are Goliath, we are David. HVCC, where are our stones and sling?

Ask for that in writing and turn them in to the FBI for racketeering maybe?

:new_2gunsfiring_v1: