Fannie Mae Aqm List

[TRESinc]

AMC's are a fallacy. Get ready for state government as a major MARKET FORCE. I wouldn't count the Federal Trade Commission out either.

ran out of lithium again?

 

[J Grant]

OK. While looking at that, also look at the loan volume over the same time period, and then look at the available appraisers per loan. Supply and demand theory does not just apply to home prices.

C and R by LAW, not supply and demand is supposed to be the benchmark for appraisal fees, not supply and demand.

Regulators, please help us we are being jerked around like puppets, with supply and demand the excuse to constantly adjust fees down the minute it is not super busy. The VA feee is one of the benchmarks. Surely you see the difference between the VA fee in and area of $450 and the AMC fee for similar property assignment in same area for $290 or $300 or $350?

If "supply and demand" supposedly drive down fees, it is only because the AMC benefits by doing so. Because, if volume slows down, WHY, please tell me, WHY should an AMC use that as a supply demand excuse , and drop a fee the were paying (for example) of $350 to $300? The consumer at bank is paying the same , right?

Why not just continue to pay the Appraisers $350 if volume slows down? (if C and R was adhered to, that is what should happen)

Is there some mandate that your company and AMC's need to use supply and demand as an excuse to strip appraisers of their tiny profit just when they need it the most, when times are slow?

Sorry, you sound like a pretty nice guy but that business model is DISGUSTING.

 

[Eli]

You just don understand oligopsonistic competition. I wonder if you understand fastest and cheapest????

Have you called Louisiana yet to tell them what you are going to pay? You definitely don't understand the government as a market force. The government is for public trust and enforcing antitrust law. Call Louisiana and tell them what you will pay with your collusion. See what happens.

 

[Eli]

Danny, wait til states start taxing you on your cut. You will see them as a major market force then. C&R and supply and demand will be a close second to how big a market force the government is to you. You surprise me not realizing how big of a market force the government is due to your background.

 

[DWiley]

C and R by LAW, not supply and demand is supposed to be the benchmark for appraisal fees, not supply and demand.

Regulators, please help us we are being jerked around like puppets, with supply and demand the excuse to constantly adjust fees down the minute it is not super busy. The VA feee is one of the benchmarks. Surely you see the difference between the VA fee in and area of $450 and the AMC fee for similar property assignment in same area for $290 or $300 or $350?

If "supply and demand" supposedly drive down fees, it is only because the AMC benefits by doing so. Because, if volume slows down, WHY, please tell me, WHY should an AMC use that as a supply demand excuse , and drop a fee the were paying (for example) of $350 to $300? The consumer at bank is paying the same , right?

Why not just continue to pay the Appraisers $350 if volume slows down? (if C and R was adhered to, that is what should happen)

Is there some mandate that your company and AMC's need to use supply and demand as an excuse to strip appraisers of their tiny profit just when they need it the most, when times are slow?

Sorry, you sound like a pretty nice guy but that business model is DISGUSTING.

Have you actually read the law? The most basic principle of C&R is that it should be determined by the market and not artificially controlled by lenders or AMCs.

When gas prices drop, do you offer to pay more than the pump says? Do you offer more than the sticker price when you go to the grocery store?

Appraisal is not the only profession affected by supply and demand. Look at nurses' salaries. They are subject to wild swings due to supply and demand.

We actually get paid to analyze and report the effects of changes in market conditions, but some seem to think the things that they analyze every day do not apply to them. Sorry - no such thing as guaranteed fees.

 

[Eli]

Have you actually read the law? The most basic principle of C&R is that it should be determined by the market and not artificially controlled by lenders or AMCs.

When gas prices drop, do you offer to pay more than the pump says? Do you offer more than the sticker price when you go to the grocery store?

Appraisal is not the only profession affected by supply and demand. Look at nurses' salaries. They are subject to wild swings due to supply and demand.

We actually get paid to analyze and report the effects of changes in market conditions, but some seem to think the things that they analyze every day do not apply to them. Sorry - no such thing as guaranteed fees.

How do you measure forced demand?

Stay out if this JG. Lol I'm kidding. Chime in.

The government is the demand factor and they don't like fastest and cheapest because it is contradictory to public trust and public interest.

On appraisals for single family residential mortgages, the govt is the KING market force. Now, I am not going to say that the Federal Trade Commission won't take the top role. I think they are waiting to see what State governments do. Remember state government is way more than the appraisal commissions.

 

[J Grant]

http://appraisersblogs.com/appraisa...y-reasonable-fees-for-residential-appraisals/

Goes into detail C and R in Virginia...$401 non AMC for 1004 , $328 AMC .

Debate time no more posting tonight!

 

[DWiley]

Goes into detail C and R in Virginia...$401 non AMC for 1004 , $328 AMC .

Actually, it goes into detail about a fee survey - which is only one way to determine C&R. Marion made the point in another thread that C&R is paid on actual fees paid. When one of these "surveys" is based on audited financials rather than undocumented dreams and aspirations, it will carry a lot more weight.

A handful of states have conducted these "surveys" but none have come out and required them to be used as the basis for C&R determinations. Frankly, a lot of AMCs would be happy if states would do that, because it would greatly lessen compliance costs.

If you read the LA case transcript, you will see that the issue in that case was methodology, not the fee paid. In some of the assignments in that case the appraiser was actually paid MORE than the state survey. Yet, the AMC was still found guilty on all counts because it could not defend its methodology in determining what to pay. While appraisers are focused on the amount, LA actually focused on the methodology.

 

[Joe Flacco]

I don't think enough licenses are being revoked by licensing boards and I don't think enough appraisers are being placed on the list.

 

[Michigan CG]

OK. While looking at that, also look at the loan volume over the same time period, and then look at the available appraisers per loan. Supply and demand theory does not just apply to home prices.

You do know that anything you say to these two will never sink in? If you need someone to talk to about economics and reality my dog would be more receptive to reality.