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Did any one else get this Fannie notice?

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Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
Did anyone else get this email notice. Seem rates for my rural area is a little low, by about 1/2. Dallas was paying me full fee in the past.

Hi,

The Fannie Mae Valuation Department is trying to recruit new appraisers that would like to do REO (foreclosure) work. Fannie Mae is interested in appraisers who also are already set up with Appraisal Port and are willing to use AI ready software. Fannie Mae started using Appraisal Port as of April 14, 2008 and requiring reports being submitted AI ready starting June 1, 2008.



Fees:



Exterior Only: 2-4 Units - $350

All others - $250



All Follow Up Inspections: $200



Complete Interior Inspection

(First Visit and 6 months after previous inspection)

2-4 Units - $475

All others - $350



Vacant Land: $200



If you are interested in becoming a vendor for Fannie Mae, please email me for any additional information as well as for the appropriate forms that need to be completed for registration.


cid:010301018@03062008-1FE8

Kim Shelton


[email protected]
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
Vacant Land: $200

Why does everyone think vacant land appraisals should be less expensive than other types of appraisal. They're twice as hard, time consuming and risky.

:angry:
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
Why does everyone think vacant land appraisals should be less expensive than other types of appraisal. They're twice as hard, time consuming and risky.

:angry:

Because too many appraisers are desparate and do not properly value their time and liability. They accept whatever is offered to them and are grateful. As you know, I did not spend any time in prisoner of war camps but I have seen lots of movies and TV. LOL. It reminds me of prisoners fighting over maggot infested food and contaminated water!!!

Flak accepted.
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
You can accept the fees or choose not to work for them. They are culling their appraiser roster as we speak trying to improve the quality of their REO appraisals and jettisoning appraisers who do poor quality work. It is still a damn sight better than AMC fees.
 

Bama Bayou

Senior Member
Joined
Oct 19, 2006
Professional Status
Certified General Appraiser
State
Alabama
I would work for those fees, that is close to what I charge now. Does anyone know the number for the Atlanta office?
 

Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
You can accept the fees or choose not to work for them. They are culling their appraiser roster as we speak trying to improve the quality of their REO appraisals and jettisoning appraisers who do poor quality work. It is still a damn sight better than AMC fees.


Yep, but the fees seem low for a rural area, the land appraisals are 1/3 what I charge for them. I think land to many people means a buildable lot. Land out here means lots of acreage.
 

conwayblue

Sophomore Member
Joined
Nov 6, 2003
Professional Status
Certified Residential Appraiser
State
Arkansas
(FEE - $7) = Appraisalport

Yuck
 

Couch Potato

Elite Member
Joined
Mar 15, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Why does everyone think vacant land appraisals should be less expensive than other types of appraisal. They're twice as hard, time consuming and risky.

:angry:
It depends on the land. $200 is about right for a simple residential lot that is well marked with survey stakes in an area with many similar sales don't you think? Isn't that how most of them are? :rof:
 

Scott Kibler

Elite Member
Joined
Oct 7, 2003
Professional Status
Certified Residential Appraiser
State
Illinois
Yep, but the fees seem low for a rural area, the land appraisals are 1/3 what I charge for them. I think land to many people means a buildable lot. Land out here means lots of acreage.

Fannie has a lot of acerage REOs?
 
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