Fannie Mae REO switching to AMCs

[Tim Hicks (Texas)]

Got this email today:


Fannie Mae REO fees were borderline insulting. I bet they get lower. C'est la vie! No more Fannie REO work for me.

 

[alebrewer]

Interesting choice of AMC partners.

 

[shrubberyvaluation]

Interesting choice of AMC partners.

Probably whoever paid the most in bribes

 

[Tim Hicks (Texas)]

Interesting choice of AMC partners.

Clear Capital is the only one I have heard of and that is a clear "no!"

 

[TerryRohrer]

For those who didn't know, or forgot, Ascribe is/was LRES. And Accurate Group is owned by the Canadian company that acquired Voxtur, who previously acquired Xome. Plenty of degenerate DNA in that slough.

 

[alebrewer]

Clear Capital is the only one I have heard of and that is a clear "no!"

I'm familiar w/all of them, but it's just surprising not to see Opteon, Solidifi, or Class in that group.

 

[J Grant]

I hope appraisers decline the orders unless the fees are good.

 

[Sadie]

Got this email today: View attachment 106990


Fannie Mae REO fees were borderline insulting. I bet they get lower. C'est la vie! No more Fannie REO work for me.

Nail in the coffin.

 

[Tim Hicks (Texas)]

Well, I don't do AMC assignments unless they offer to pay my fee. So, I am probably done with Fannie Mae REOs.

 

[George Hatch]

Regardless of their reasons for doing this, they're the ones making this decision. Nobody is forcing them to do it. Nobody is forcing them to use the term "....we encourage you to apply with one or more of our AMC partners", either.

Same with the fee splits which ensue. If the appraiser's end for these assignments gets cut it will be with the full knowledge - in advance - of this client.