• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Good laugh

Status
Not open for further replies.

Atlanta CG

Thread Starter
Senior Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
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

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Can't imagine why they would be 'astounded'. :eek:
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

Senior Member
Joined
Jan 16, 2002
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

Sophomore Member
Joined
Jan 15, 2002
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

Sophomore Member
Joined
Jan 15, 2002
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

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
New Mexico
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

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
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

Freshman Member
Joined
Jan 15, 2002
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

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
: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.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks