Fees Clear Capital

[djd09]

It’s Time to Rethink the Appraisal Management Company Concept​

The effort to establish appraiser independence has been a mixed bag

Additional shortcomings​

When a bank or broker orders an appraisal under the current system, the request is assigned to a pool. The appraiser is selected based on rotation. What is seldom mentioned is the fact that many of the marginal appraisers draw their work from these random pools. As a result, they can stay in the business. Otherwise, they would die on the vine for lack of business.

It's Time to Rethink the Appraisal Management Company Concept - Scotsman Guide

The effort to establish appraiser independence has been a mixed bag

www.scotsmanguide.com

the low fees are keeping skippy alive...congrats

 

[George Hatch]

Just think. It wasn't that long ago that the conventional wisdom was that the most equitable distribution of the work would be via a blind rotation. Now the talk is about doing it via quality instead of random.

Fun fact; rotate-by-quality was the premise I proposed in the Dodd-Crowley IVPI that everyone hated. Isn't that wierd?

 

[djd09]

they modeled the system after eappraiseit...what did you think was going to happen...but keep cheering for them

 

[shrubberyvaluation]

Just think. It wasn't that long ago that the conventional wisdom was that the most equitable distribution of the work would be via a blind rotation. Now the talk is about doing it via quality instead of random.

Fun fact; rotate-by-quality was the premise I proposed in the Dodd-Crowley IVPI that everyone hated. Isn't that wierd?

Only issue I have with that is "quality" would probably be defined by AMCs or FNMA CU.

 

[djd09]

maybe instead of just quality...try independent

 

[glenn walker]

Just think. It wasn't that long ago that the conventional wisdom was that the most equitable distribution of the work would be via a blind rotation. Now the talk is about doing it via quality instead of random.

Fun fact; rotate-by-quality was the premise I proposed in the Dodd-Crowley IVPI that everyone hated. Isn't that wierd?

A blind rotation with high set fees.

 

[John Hassler]

This here is capitalism in the USA, which has been ba$tardized by f/f, et al.

The lenders need to have skin in the game. If they want to use Two Buck Chuck the appraiser, fine. But when Chuckie screws up and creates a loan loss, the higher ups at the lender need to feel the pain. The USA should not have to pay for their misdeeds. Clawbacks of management bonuses should be common practice for poor decision making. After that recapitalization. Failing that, economic euthanasia of the lending entity should occur. Make that the law of the land. Kill the poorly managed and reward the well managed.

 

[djd09]

Only issue I have with that is "quality" would probably be defined by AMCs or FNMA CU.

no...the ivpi will defined quality

 

[George Hatch]

Our proposal was DOA. Most appraisers objected to the idea of a super-VA. So did the lenders and the GSEs. It didn't happen because it couldn't happen.

 

[djd09]

This here is capitalism in the USA, which has been ba$tardized by f/f, et al.

a californian talking about capitalism...now that's funny