Hidden home appraisal middlemen have cost homebuyers $12 billion

[George Hatch]

To each their own.

If I put an idea out there I would expect people to consider that idea on its own merits. The internet isn't exactly known for being a safe space. Especially not this place.

 

[Junkyard Dog]

Not to speak for Joyce, but I think the intent was that harping about fees isn't really going to be the harbinger of change... I agree with you that fees are a huge issue, but our elected representatives don't give a hoot about how much or how little appraisers make. They do (or at least should) care about: public perception, fraud, price gouging, etc.

Agreed. Yet I do believe that it needs to be an ongoing conversation. It needs to be shown how the system works and how it’s tilted in favor of the AMC and less in the direction of the consumer getting a quality appraisal on their home.

 

[Joyce Potts]

Not to speak for Joyce, but I think the intent was that harping about fees isn't really going to be the harbinger of change... I agree with you that fees are a huge issue, but our elected representatives don't give a hoot about how much or how little appraisers make. They do (or at least should) care about: public perception, fraud, price gouging, etc.

How much in campaign contributions do you think your government representatives get from appraisers vs the banking and mortgage lending industries?

 

[Joyce Potts]

Agreed. Yet I do believe that it needs to be an ongoing conversation. It needs to be shown how the system works and how it’s tilted in favor of the AMC and less in the direction of the consumer getting a quality appraisal on their home.

With all due respect, you’re stating the problem to the point of redundancy. The better question is what can be done to change it? Seeking regulatory enforcement of laws already on the books hasn’t worked. It’s time to change strategies or go home.

 

[Joyce Potts]

If I put an idea out there I would expect people to consider that idea on its own merits. The internet isn't exactly known for being a safe space. Especially not this place.

Life isn’t fair. Nor is the internet. I’m sorry you’re expecting a safe place.

 

[J Grant]

My bad, I should have realized you'd leach onto "lender" as if it makes any difference. No matter. The concept, application and answer all remain the same when it's an AMC blasting the 10 appraisers with the substandard fee. The AMC is still the buyer and the appraisers are still the sellers.
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Anyways and in response to the rest:

So the market participants who are exercising their alternatives are NOT colluding with each other or manipulating the market. They're just acting in their own best interests.

Individual appraisers cannot collude or manipulate a market.

Giant, national-scale AMCs or lenders have that ability, if they so choose, due to their large footprint, control of workflow on a large scale, the power of the purse over vendors, the ability to buy off or influence regulators and policy, and billions in assets. None of which any appraiser has, not even close

And to head off what may come next, some allegation about price fixing perhaps, professionals in most fields end up charging very similar fees, which is what C and R is. Only with AMC;s is the supply and demand so out of whack that the fees are very affected. I do not see that in other professions, including the rest of the appraisal profession.

 

[J Grant]

With all due respect, you’re stating the problem to the point of redundancy. The better question is what can be done to change it? Seeking regulatory enforcement of laws already on the books hasn’t worked. It’s time to change strategies or go home.

I made a post on it; I believe it is post # 10, on the newer thread titled How to fight abuse of appraisers.

 

[Junkyard Dog]

With all due respect, you’re stating the problem to the point of redundancy. The better question is what can be done to change it? Seeking regulatory enforcement of laws already on the books hasn’t worked. It’s time to change strategies or go home.

With all due respect, you appear to be not seeing the picture here. I think these articles and the constant discussion about fees will help others make change. It will Allow the public and more to see what’s going on and not just us appraisers.

 

[Dublin ohio]

How much in campaign contributions do you think your government representatives get from appraisers vs the banking and mortgage lending industries?

Reality. Appraisers don't have the money or the "juice".

 

[Dublin ohio]

It will Allow the public and more to see what’s going on and not just us appraisers.

Now you have to get them to give a sheet. Good luck with that