Fees Clear Capital

[djd09]

after they left the criminals in charge...it has been a race to the bottom

 

[glenn walker]

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.

Loan losses in residential have never been to valuation issues. It's always been aggressive Underwriting guidelines and often manipulation of interest rates by our Federal Reserve. Today there's no need for the traditional appraisals except to give a estimate and make sure it's standing in place.

 

[Non Sequitur]

The lenders need to have skin in the game.

Exactly.

I've been on both sides, lenders who have skin in the game by and large DO NOT use AMCs. The last two banks I worked for used AMCs on the mortgage side but managed a panel for portfolio and commercial. No one cared about mortgage side because that was in and out to never be heard from again, the portfolio side we lived with so the valuation side was managed in house.

 

[Damienvball]

This morning I received a text message with an appraisal offer, 1004 with a due date of 07/07/2025. Fee $275. I licensed in 1999 when fees were $275. I haven't accepted this fee is at least 2 decades. Who in their right mind is working a nation holiday/weekend for 1999 fees. I stopped lending work 2 years ago, it looks like Ill never go back. Insane and depressing, the profession has been tanked.

they are ridiculous. I reply with the minimum fee I am willing to accept but rarely do I get an order from Clear Capitol. they want us to do the work while they keep all the money the lender is paying for the appraisal. They are not the only one's either!

 

[Non Sequitur]

Clear isn’t the only one forcing fees down, it’s industry wide thanks to the middle men who were given all the power. And if anyone thinks the new UAD means higher fees, read the attached (I blacked out his name but if you’re a member of the FB group the post is easy to find). FWIW I’ve heard the same and have posted the same several times. Hope we’re wrong.

 

[Joe Flacco]

Maybe his contact at the large national builder is a crackhead doing framing and doesn't know anything.

 

[glenn walker]

Clear isn’t the only one forcing fees down, it’s industry wide thanks to the middle men who were given all the power. And if anyone thinks the new UAD means higher fees, read the attached (I blacked out his name but if you’re a member of the FB group the post is easy to find). FWIW I’ve heard the same and have posted the same several times. Hope we’re wrong.


View attachment 101584

There are hundreds of businesses but most didn't have licenses to practice and so they just closed up shop and moved on in life.

With the time and effort to get certified and years of life given up most continue until they go broke or get other income streams.

The licensing acts like a boat
anchor and it keeps folk's in longer.

 

[Non Sequitur]

Maybe his contact at the large national builder is a crackhead doing framing and doesn't know anything.

Or maybe the contact answers to higher ups who are saying "Blank You" to any fee increases. That's how the corporate side works.

 

[Joe Flacco]

Or maybe the contact answers to higher ups who are saying "Blank You" to any fee increases. That's how the corporate side works.

Digger does a lot for big national builders and it sounds like their fees are pretty good. Seems like they are generally well above market payers if the market is AMCs.

 

[glenn walker]

Digger does a lot for big national builders and it sounds like their fees are pretty good. Seems like they are generally well above market payers if the market is AMCs.

Builder's need friendly appraisers that don't kill deals. The fees are not a issue for them or their Subsidiary Lenders.

I've known California Builders where only a handful of appraisers did all their tracts and their sales force does everything possible to direct buyers to their lenders and preferred AMCs.

In fairness those appraisers know all
the models and plans and after doing hundreds they can get the job done fast and efficiently. The guy or gal that's not familiar can fiddle faddle and F things up fairly quickly. Lol