Guild Mortgage / LSI

[Lloyd Bonafide]

They have everybody on Guild's approved list really riled up today.

They want us to pay them $125 to sign up, hold them harmless for everything, (which my E&O company will not go along with), and they want to pay $175 for an appraisal.

No thanks!


Below are the standard fees, by product, I am paying to appraisers in your market area.

URAR up to $500k $ 175

URAR up to $1M $ 250

Multi $ 300

2055 Ext $ 125

REO $ 200

Field Review $ 125

Desk Review $ 60

 

[realbiz]

I would be riled too, but my question is why would you pay to be on a list that you are already on?

 

[Lloyd Bonafide]

That's a good question - I'm not on the list at LSI or any other AMC, and I definitely won't be signing up with this one.

 

[nstanbru]

They have everybody on Guild's approved list really riled up today.

They want us to pay them $125 to sign up, hold them harmless for everything, (which my E&O company will not go along with), and they want to pay $175 for an appraisal.

No thanks!


Below are the standard fees, by product, I am paying to appraisers in your market area.

URAR up to $500k $ 175

URAR up to $1M $ 250

Multi $ 300

2055 Ext $ 125

REO $ 200

Field Review $ 125

Desk Review $ 60

I always thought, that, according to USPAP, appraisal fees can be quoted based on the complexity of the assignment. Fees cannot be quoted or charged based on a predetermined value.

 

[Tim The Enchanter]

Fees cannot be quoted or charged based on a predetermined value.

True.

Those fees are a joke. Half or less what they should be. Not acceptable. :new_alien:

 

[Tony V]

I always thought, that, according to USPAP, appraisal fees can be quoted based on the complexity of the assignment. Fees cannot be quoted or charged based on a predetermined value.

Your right....the only thing is that WE cannot charge for an appraisal that way (USPAP), but they are not held to USPAP so nothing can stop them from doing it this way....Nothing except saying NO, I don't think so, bite me, is that your trip fee??...etc....

 

[Mike Boyd]

Certainly NOT your "grandfather's" Guild Mortgage. I was a staff appraiser for them many years ago. They never quibbled about fees. Who do they think they are?....Countrywide?

 

[KevinSharma]

Pls. advice How I can get some work? I have signed of with lot of AMC's, but getting nothing, it is going to be more than 4 months. I am at Los Angeles-Bellflower area.

 

[PRCHIEF]

Pls. advice How I can get some work? I have signed of with lot of AMC's, but getting nothing, it is going to be more than 4 months. I am at Los Angeles-Bellflower area.

hey kevin, not to be negative but were all in the same sinking ship :new_all_coholic:
regular licensed appraisers are really hurting because they cant get on many panels and they cant do FHA. usually i would say to consider upgrading to certified but i dont think that will matter. the only way i've kinda stayed afloat is by doing non-lender work.

 

[Lloyd Bonafide]

Regarding Guild Mortgage: after getting barraged with complaints from their approved appraisers, Guild has dumped LSI.

Now they want us to sign up with Solidifi - I don't know if they are any better.

This lender is also working on setting up a rotating panel of their own approved appraisers, which would be OK.