Hidden home appraisal middlemen have cost homebuyers $12 billion

[George Hatch]

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

I don't have a problem engaging with anyone here on whatever basis they choose. That includes engaging with you. With that said, I'm also not chasing anyone. I didn't post any response or feedback on his YouTube channel or comment on the facts in front of his viewers. If he's directing some of his viewers to these threads and expanding the reach of my comments then that's him doing that by his own hand.

So far, nobody has even disputed any of the additional facts I added or accused me of untruths by omission or commission. Nor did I even say anything that could be considered controversial beyond the sentiment some people have that I should have kept my observations to myself because - unlike how we deal with everyone else on this forum - his cause is special so that puts his reasoning beyond examination or disagreement.

 

[J Grant]

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.

It helps, but is a trickle and not enough. See my post #10 on the thread How to fight the abuse of appraisers. And other posts on that thread as well.

 

[George Hatch]

It helps, but is a trickle and not enough. See my post #10 on the thread How to fight the abuse of appraisers. And other posts on that thread as well.

Give it a rest. Post #10 shows what outcome you and everyone wants (AMCs to pay C&R). It doesn't indicate to any method or path of how to get to that outcome.

 

[J Grant]

Conflating lenders with AMC's is misleading, even if unintended.
Their aims and interests in appraisals differ

Lenders and banks are end users, and they use an appraisal to make a loan or a lending decisions

AMCs are not end-users; they are pass-through middlemen that process and send the appraisal on to the lender or bank-- after taking a huge cut of the appraisal fee. The AMC middleman does not benefit the appraiser; it benefits the lender or bank, therefore the lender or bank should compensate the AMC for their management service. The appraisal fees should not be touched by the AMC.

 

[J Grant]

Give it a rest. Post #10 shows what outcome you and everyone wants (AMCs to pay C&R). It doesn't indicate to any method or path of how to get to that outcome.

I outlined the path for appraisers to collaborate and compose a simple and effective letter about the topic how it affects borrowers, not necessarily by $ but by quality, choice and being misled etc - and to make that letter available to MLS boards across the country for RE agent signatures of support as well as a petition if possible, and the same for the general public

Who are you to tell me to give it a rest? I am directing people to that thread who are asking what can be done.

 

[George Hatch]

I outlined the path for appraisers to collaborate and compose a simple and effective letter about the topic how it affects borrowers, not necessarily by $ but by quality, choice and being misled etc - and to make that letter available to MLS boards across the country for RE agent signatures of support as well as a petition if possible, and the same for the general public

Who are you to tell me to give it a rest? I am directing people to that thread who are asking what can be done.

Post 10 does no such thing:

 

[George Hatch]

With that said, if you're referring to a different post where there's a petition or an open letter or additional publications of articles on the topic that's great. I agree with the effort but am skeptical of the outcome. But that's just an opinion.

 

[Junkyard Dog]

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

Hmm they seem to give a Sheet about paying buyer commissions etc. wouldnt an extra $300+ be something they would want to have in their pockets? Maybe that can go towards their agent? SMH.. Same with a refinance? They believe the price to be $700 but the appraiser gets $300. How about having that $400 in your pocket.

The problem is they have been misled and they the consumer doesn’t know any better. 0 transparency. So it’s not hard to get them to understand and give a sheet.

 

[Dublin ohio]

I outlined the path for appraisers to collaborate and compose a simple and effective letter about the topic how it affects borrowers, not necessarily by $ but by quality, choice and being misled etc - and to make that letter available to MLS boards across the country for RE agent signatures of support as well as a petition if possible, and the same for the general public

And without viable proof it is just a theory or opinion. What good will it do

 

[Dublin ohio]

Hmm they seem to give a Sheet about paying buyer commissions etc.

How it was done, not how much was paid. Not a thing has changed since the NAR suit. Just new disclosures and business as usual

wouldnt an extra $300+ be something they would want to have in their pockets?

Of course they would. But what recourse would the consumer have even if fees were separated on the TRID. I know what the AMCs I work for charge above my fee and it is nowhere near $300 or $400 dollars. But I don't work for the bottom feeders so I have done something as opposed to nothing by choosing not to work for said bottom feeders and it has cost me when it comes to the bottom line.