Fannie Mae REO switching to AMCs

[J Grant]

What fees did Fannie pay appraisers for REO work?

What fees are the AMC's now offering appraisers for doing the same REO work?

 

[Surf Cat]

Posted to Facebook this morning. This is what one of the AMC‘s are offering for the Fannie Mae REO‘s. Shameful.


View attachment 107633

Too bad the Epstein Files aren't redacted like that..... otherwise, we'd know everything!

 

[Zoe]

You made me do it.

 

[Mike Ault]

You made me do it.

Will then I deserve at least an AMC portion (50%-75%) of your income. Let me know when you're ready to pay up and I will PM you my CC information.

 

[Sadie]

Did they drop the "two photos of every room from opposite corners" requirement that NON was talking about? I remember those as well.

I don't remember having to do that ever. It was just a photo of every room at the beginning, then it was every room plus repairs, then they added street each direction, across the street and to the rear. It must have been a long time ago or maybe a different region, because I have been doing them since 1999.

 

[Carnivore]

I recall toes REO/Short Sale days. If you were getting that REO work from Fannie the fee was good and turn time was good. I think we used apprail-port to upload which was very good.

So if they use an AMC now, well what can go wrong? You already know You will compete with ast Eddy and the AMC will use dummies to look over your report I hope not.

 

[George Hatch]

Fannie is not a lender and does not set scope of work. What is wrong with you people?

Are you insinuating you are an employee of Fannie?

The IRS might consider your thoughts.

The appraiser is the one who makes the SOW decision, but the process of developing that decision includes consideration of the user expectations. The appraiser can't just arbitrarily and unilaterally blow off elements that the user considers "meaningful and not misleading". Doing so would be inadequate WRT meeting the minimum requirements for that assignment.

The appraiser is free to add extras on their own but they are not free to omit the user's extras.
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[Bobby Bucks]

What fees did Fannie pay appraisers for REO work?

What fees are the AMC's now offering appraisers for doing the same REO work?

$450 then, with their "approved AMCs it appears to be around $245. Of course Class, Clear and Servicelink are earning every penny of their fee......so they have a surplus to tip the dealer who is using the extra cards no one else can see.

I recall toes REO/Short Sale days. If you were getting that REO work from Fannie the fee was good and turn time was good. I think we used apprail-port to upload which was very good.

So if they use an AMC now, well what can go wrong? You already know You will compete with ast Eddy and the AMC will use dummies to look over your report I hope not.

The appraisal port fee was/is about $15. The Fannie REO direct turn times were 7 days and if you needed more time you can request it. What I expect to happen is the Fannie REO biusiness will be taken over by fee shops dishing it our to their trainees.

 

[gregb]

What I expect to happen is the Fannie REO biusiness will be taken over by fee shops dishing it our to their trainees.

Don't Class, Clear and Servicelink have staff appraisers?

 

[Bobby Bucks]

Don't Class, Clear and Servicelink have staff appraisers?

I'm not sure, I think some of them do. My experience with those that do is staff often rejects assignments they don't like and the AMCs send them out for bids. About the only quote requests I get from Clear and S'link are obvious nightmare assignments no one wants.