Exclusion from a panel

[Zoe]

If the AMC is happy with the appraiser, something has an obnoxious odor somewhere else. It just don't smell right to me. I would go to the meeting and be looking for another client at the same time.

The appraiser said it was not value related.

 

[Tom D]

Also tell the lender that FHA uses magnifying glass on the photos. It was raining like crazy that day. I missed some peeling paint on an outdoor covered deck, was not lead paint but. FHA said don't do that again, and i said yes sir to your big stick to.

 

[Zoe]

Wondering what the experiences are out there of appraisers being excluded from a panel. I have a "hearing" to discuss with the mortgage company - but would like to hear from you all regarding similar experieces. I believe that this is coming from realtors complaints. 1) home not meeting permit status - where realtor was the buyer; 2) FHA appraisal where it was "subject to" minor repairs that realtor did not want to have done (carpet cleaning for animal feces and urine) 3) homeowner did not like price. I did a very through review of the 4 appraisals the mortgage company cited (out of more than 100) and they did not seem to be deficient appraisals. Your advise and guidance is very much appreciated.

If your meeting don't go well with the lender, is sharing the AMC and Lender name confidential information? LOL

It is funny to me because people will want to work for the AMC but not that lender.

 

[Zoe]

BTW, do you think the lender has some ownership in the AMC?

It matters to me but it may not matter to you.

I have fought separation of fees on truth in lending disclosures since the final bill got changed at last minute saying it would be too confusing to borrowers.

I do feel sorry for you. I would review appraisal for you and go to meeting with lender with you if I could.

 

[Zoe]

Something is smelling (stinking) on the lender side. I can't put my finger on it. I can smell it but I can't put finger on what is stinking.

Either that or you are playing me like a fool.

 

[Linda B.]

Something is smelling (stinking) on the lender side. I can't put my finger on it. I can smell it but I can't put finger on what is stinking.

Either that or you are playing me like a fool.

I agree with you. I did a deep dive reivew of the appraisal(s) and did not see issues. I think there is something else going on (realtor complaint??) but I just don't have supporting data and they would not disclose anything like that. I so appreciate all of your input and wisdom. This business always feels like the Charlie Brown cartoon where Lucy keeps moving the football - our goal lines keep changing, the engagement letters keep changing, the requirments keep changing - but the fees do not. Thank you all again. I will keep you posted.

 

[Dublin ohio]

USPAP doesn't say I have to do appraisals for "desperate borrowers"

But it does say that you are not to be biased. The above is a classic example of bias

 

[Zoe]

I agree with you. I did a deep dive reivew of the appraisal(s) and did not see issues. I think there is something else going on (realtor complaint??) but I just don't have supporting data and they would not disclose anything like that. I so appreciate all of your input and wisdom. This business always feels like the Charlie Brown cartoon where Lucy keeps moving the football - our goal lines keep changing, the engagement letters keep changing, the requirments keep changing - but the fees do not. Thank you all again. I will keep you posted.

You'll be fine. If your shy, don't go to the meeting. If a lender threatens an E&O claim on me? I would go to meeting with no lawyer.

If it continues, I would call my E&O and say can you help me on this?

I would want all communication hence forward with lender on email or mail. I would keep it in my workfile.

But I would go to the meeting unless it was very far away and then I would explain I need expenses paid for the meeting.

when is the meeting? Okay. This is my expenses. Can I send you invoice and you sign and return my invoice with confirmation?

I need to know your title and position when you sign my invoice and who I am meeting with.

Provide contact information for you personally like email, phone, cell phone etc..............

When I get invoice back signed by you. We can meet. Please provide more information why you want this meeting.

What is address? You can hand me the check when I get there for my invoice.

Cash won't work. I want your company on the line.

I want privity established the day we meet when you hand me the check for my invoice.

 

[Tom D]

Yea, is this AMC, and or lender in a different state. Do a zoom meeting. I think zoe advice will get you really kicked off before any meeting.
There probable is only one person to talk to at the lenders. This is dragging on, ask the AMC for that phone number, and just call about your concerns about their concerns.

 

[sputnam]

I agree, Zoe's advice is terrible. If you based your adjustments, conclusions, and opinions on verifiable data and if, you have all of that documented in your workfile and if, they actually permanently remove you from the panel... then, you can submit a complaint to their compliance officer and/or federal/state regulators.

Otherwise, I'd just move on. There are lots of Lenders and AMCs (a lot of appraisers think, too many).