Do you think AMCs will cave in like the banks are doing?

[Ray Miller]

Do you think any of the AMCs will cave in/implode and leave appraisers hanging with no way to collect on appraisals?

I would think they got to be hurting with paying for staff, and business expenses now?

Just how deep are their pockets?

Who do they pay first, the appraiser, their CEO, their employee’s, where is the appraiser on the list?

I would assume that if IndyMac used an AMC the new IndyMac is not going to pay for the old bills from the old IndyMac. So who get hung out in the cold???

Is it time to start demanding that AMCs pay up front???

Is it time to cull the AMC list?

Do you think the non-bank owned AMCs will fold and leave appraisers hanging?

How are your receivables from AMCs: are they less then 30 days, 60 days 90 days or more?

 

[Lawrence R.]

Currently AMC's are not running behind with one single payment owed to me.


Care to guess why?:new_smile-l:

 

[stefan olafson]

Lawrence, you don't do work for AMC's, that's why!

Given the opportunity to work entirely outside the residential side of this business, I'd jump at the chance. Unfortunately, other factors have had a detrimental affect on my ability to work for some clients.

I'm striving to begin anew doing complex agricultural properties and small town commercial property. A new beginning away from the hubris we call AMC work.

 

[Randolph Kinney]

AMCs have fixed cost and overhead to pay. If the volume falls on appraisals, they either have to raise fees or increase their percentage of the split. That means lower fees to the appraiser. At some point, the AMC can't make it with low volume and either cuts its overhead and lay off its staff. Finally, they too can become insolvent.

 

[tjcou812]

I hope it happens soon

 

[Lee Lansford]

Do you think any of the AMCs will cave in/implode and leave appraisers hanging with no way to collect on appraisals? ... ]

It will eventually happen...if such has not already happened.

 

[The Warrior Monk]

Do you think the non-bank owned AMCs will fold and leave appraisers hanging?

Some already have. Examples that I am aware of include

• Homegate (AMC for American Home Mortgage)
• Appraisal.com

 

[Diego Lopez]

Happened to me, appraisal.com owes me two appraisals.

 

[Mike Boyd]

Currently AMC's are not running behind with one single payment owed to me.


Care to guess why?:new_smile-l:

I bet it's the same as mine.

 

[Mike Boyd]

AMCs have fixed cost and overhead to pay. If the volume falls on appraisals, they either have to raise fees or increase their percentage of the split. That means lower fees to the appraiser. At some point, the AMC can't make it with low volume and either cuts its overhead and lay off its staff. Finally, they too can become insolvent.

We can only hope.............