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Hybrid Appraisals

Are Hybrid Appraisals USPAP Compliant?

  • Yes

    Votes: 10 41.7%
  • No

    Votes: 14 58.3%

  • Total voters
    24
The bank still has to have a ordering department or program to take the lenders request to the AMC, then the bank is still required to vet their appraisers and hold the AMC accountable....in theory.
 
it costs 200 bucks to send a order via email...and doesn't the borrower pay for all of this anyways more lies :rof:
It is far more $ per order for an AMC to manage it, because the AMC has to make a profit off of it, (and will bloat their split with as much profit as possible ), whereas a lender or other client wondering direct just needs to cover the cost.
 
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Citation, please?
This was just a quick look up.... I'm sure it would be easy to find other articles and reviews of discontent for AMC work.

I have heard there are good AMCs. Fair compensation, adequate turn time allowance. I have not experienced this in CA.

https://appraisersblogs.com/exposin...es-corrosive-influence-on-the-housing-market/
 
The bank still has to have a ordering department or program to take the lenders request to the AMC, then the bank is still required to vet their appraisers and hold the AMC accountable....in theory.
It exists in practice too. Applicants for loans are processed by hundreds or thousands of loan officers, then the files get divided into UW, the borrower, and the appraisal or valuation. The lender has to distribute valuation orders to the AMC, then track delivery, deal with any issues, or do their own reviewing for certain orders. Many AMCs handle only the regular orders with high value or complex orders separately from a lender panel
 
the AMC system was expanded to hide the scum bag mortgage brokers...because if you knew that crook was ordering an appraisal you would never accept it :rof:
 
Many AMCs handle only the regular orders with high value or complex orders separately from a lender panel
Arvest runs their own ordering for the routine and hire an AMC for the outliers (areas where they don't have many, if any, appraisers on their vendor list and if they have no bids they ship it to the AMC.)
 
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My experience comes from talking to appraisers over the years and from the vast majority of the posts here. Not everything has a "citation."
the term 'most' connotes a comparative quantity. Remember J: your experience may, or may not, be reflective of the universal experience. The fact is that you have no idea if most appraisers would disagree with something.
 
And I've heard there were good MB's. I have not experienced this in TX.
Same could be said for fee shops I suppose. I recall Hatch stating some negative experiences with them. I happened to be employed with a very good one and had a great experience. I interviewed at a couple fee shops where I'm glad I didn't get the job though, as the interviewers seem like real shysters....

I've had both good and bad experiences with mortgage brokers. Some were scum of the Earth. I would take the mortgage broker appraisal ordering route any day of the week over AMC's.
 
If operating and managing appraisers multi State was as easy as sending and receiving orders there wouldn't be Lsrge AMCs. Also why aren't younger or middle age appraisers running their own smaller local AMCs ? Why would anyone with a brain sit and wait to receive orders from the AMCs ? Stop and think about it none of it adds up.
 
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