Good laugh

[Atlanta CG]

Got a call from Countrywide about my fees for PMI removal. They were "astounded" at the cost, the bank was "shocked." My fee was roughly 80% of the normal 1004 fee. They wanted full interior inspection, full interior photos, subject & comp photos, for 15% less than $100 each. I was not aware of the requirement for the interior photos at the time of receipt.
Who is doing these for less than $100? How can anyone possibly do justice to the profession for less than McDonalds pays per hour :?:

 

[Dee Dee]

Can't imagine why they would be 'astounded'.
I'd call their bluff, if it is one, and ask them who the appraiser is that would do it for so cheap. If they give you a name post it here and we'll have a field day with 'em. :wink:

 

[jtrotta]

Appraisal for "PMI" removal; why would you spend any less time developing the data :?: Were you doing something other than a typical appraisal :?: and why :?:

Doing anything less, than a full appraisal would be a dis-service to the homeowner :? If you do less than a full appraisal in this instance are you at a greater risk, as I would assume the original appraisal is older than 12 months, yes or no :?:

 

[Ray Ohler]

as jtrotta. WHY would an appraisal for PMI removal be any less than any other appraisal? Maybe if you did the first appraisal you may give them a "break" because you already have physical info (assuming no structural changes and basically just do a walk-through and update tax info), floor plan and so on. However, you still have all the other data to collect and analyze.

 

[Ray Ohler]

Well, lets see, some employees at McDonald's actually WORK and some DON'T. Some employees at Sears WORK and some DON'T. Some employees at...see where this is going? :lol:

 

[Caterina Platt]

Hmmm, let's see PMI removal. That would be when you,the lender, are now willing to increase your exposure and carry the debt without mortgage insurance. Hmmm, and you want a bozo who will do cheapie appraisals to insure the value is sufficient. Good move Mr. Lender. :roll:

Save a buck, lose a thousand. Makes one wonder how they got to be #1 or 2 in the buz. Ah, but wait, the times they are a changin'. Recessions, layoffs, higher than before mortgage delinquencies... the pennywise, pound foolish business practices just may come back to bite. 8)

 

[Charlotte Dixon]

quote- Caterina Platt
'the times they are a changin'
-----------------------------------

Thanks for that flashback! I'm running over to my CD player right now for some Dillon! 8)

 

[MAC]

I would call them back and be real nice. Explain that if they find such a person you would also like their name. What a great sub. A person who will work for $85.

 

[Mountain Man]

:lol: But John, isn't Atlanta just swamped with appraisers? :roll: I have learned to really watch anything coming from Countrywide/Landsafe. They are notorious for sending in request with their desired low fees. I call them back and get a corrected request with my fee almost every time. Ever noticed that the bank building is usually the biggest in town :?:

Mell.