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Hybrid

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Danny if you remember in the past I pointed out to DJ that the interest of the AMC would be for more full appraisals, and not more hybrids. Btw, out of the reported $195 fee, if the AMC keeps $90 to $100, percentage wise, its right in line with the AMC profit margin target, right? :)


You need to send LA an email.
 
Tim, does your company accept any bifurcated appraisal report for purposes of removing PM insurance?
Mortgage Insurers have nothing to do with the decision to remove PMI. That is the lender/servicer's call. If the lender does not want us to insure a mortgage any longer, all that they have to do is to send us a cancellation request or stop paying the premium and we will cancel coverage. Coverage is required to be cancelled on monthly policy's due to federal law/regulation when the principal balance of the mortgage is first scheduled to reach 78 percent of the original value of the secured property. PMI can also be terminated upon the borrower's request under certain other circumstances that would require a current valuation of the property. Whether a lender would accept a bifurcated appraisal for such purposes is their call.
 
It's made up in volume, no? If these are the "wave of the future" and volume heads that way, wouldn't it mean more $$$ for the AMC?

i.e. $195 = $75-$100 (appraiser), $50 (inspector), $45-70 (AMC) ... seems about right? :shrug:

That company probably giving $25 to inspector and $50-$75 to appraiser. $100-$125 to AMC.
 
Lemme get this straight. A desktop or driveby is acceptable but a desktop with another party providing condition info isn't? I gotta get me some of the stuff some folks are smoking or drinking. :drinking:


I agree with you, let the person determining condition just sign the report and send it in. No need for me at all in the process the way I see it.

I'm hoping for the day when I can even get the value sent to me by a 3rd party. I'll just sit at my desk and sign papers all day. Of course, I'll still be charging $400 each. Sign 50 a day. When the NCAB comes calling, I'll just turn in my license. Maybe I'll go work for an AMC.
 
It's made up in volume, no? If these are the "wave of the future" and volume heads that way, wouldn't it mean more $$$ for the AMC?

i.e. $195 = $75-$100 (appraiser), $50 (inspector), $45-70 (AMC) ... seems about right? :shrug:
For each hybrid there is the loss of a (higher paying) full order, no? How does one "make it up with volume" in such a scenario?
 
Danny if you remember in the past I pointed out to DJ that the interest of the AMC would be for more full appraisals, and not more hybrids. Btw, out of the reported $195 fee, if the AMC keeps $90 to $100, percentage wise, its right in line with the AMC profit margin target, right? :)
Just razzing you a little to point our that some of the theories others posted about AMC motivations are, less than solid, to be kind :)
 
Must be nice when someone can edit a post, after the edit by the poster time has lasped. But take a look at yourself.

But you guys must be getting nervous.

Oh my, so you didn't read that sentence in context and were somehow able to interpret a reference that is clearly aim at "the majority of competent appraisers for an assignment" to mean "the most competent appraisers for an assignment"? That is a problem, because then the state would have to define who the most competent appraisers are (for which your public opinion poll would be worthless) and what they would have done *in that assignment*.

You basically want to make the state boards' job impossible. That's not nice. .]

upload_2018-7-5_14-14-12.png

You are the only one saying "competent" or most.

I'm saying where is the data that indicates what peers do????

No surveys.
No studies.
No white papers.
No Joan advertising.
Very few if any active appraisers on state boards that are peers of those doing residential lending work.

Where is the "proof" of what peers are doing?

And hand in hand with that is,

The only "proof" of what parties who are regularly intended users is,
wait for it,
Fannie Mae Forms.

Yup, lots of proof there

Oh and lots of proof can be found there for what "peers do" for Similar Assignments.

because "Similar" is residential Lending.
No Bob with great credit score and only needs a $40k loan on a $300k property.
Nope, That one is Specific.


And Really George,

Where's those "Free Market" people,

Writing the software programs to sell to Appraisers for Appraisers to use, and hire their own inspectors???



What is the barrier there, George?

Oh and hey,

If these aren't GSE loans, nobody even needs them converted to XML for CU either, 'cause Fannie isn't an "intended user"

Right George?


Easy software to write. All appraisers need to do is hire a picture taker.

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.


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It's not the fee per report to AMC that is the opportunity. It is the potential to double or triple their market share.
Since the total number of mortgage lending related appraisals is relatively fixed (of course it increases and decreases based on mortgage volume), then how would hybrids increase the market share of AMC's? The only way it could do that is if hybrid appraisals took business away from other valuation products (such as BPO's and AVM's), but since most of the large AMC's (including Danny's company) also supply BPO's and AVM's to their customers, any increase in hybrid appraisal business from these sources just ends up cannibalizing other parts of the AMCs' business model.
 
Danny if you remember in the past I pointed out to DJ that the interest of the AMC would be for more full appraisals, and not more hybrids. Btw, out of the reported $195 fee, if the AMC keeps $90 to $100, percentage wise, its right in line with the AMC profit margin target, right? :)


You need to send LA an email.
It's made up in volume, no? If these are the "wave of the future" and volume heads that way, wouldn't it mean more $$$ for the AMC?

i.e. $195 = $75-$100 (appraiser), $50 (inspector), $45-70 (AMC) ... seems about right? :shrug:
Mortgage Insurers have nothing to do with the decision to remove PMI. That is the lender/servicer's call. If the lender does not want us to insure a mortgage any longer, all that they have to do is to send us a cancellation request or stop paying the premium and we will cancel coverage. Coverage is required to be cancelled on monthly policy's due to federal law/regulation when the principal balance of the mortgage is first scheduled to reach 78 percent of the original value of the secured property. PMI can also be terminated upon the borrower's request under certain other circumstances that would require a current valuation of the property. Whether a lender would accept a bifurcated appraisal for such purposes is their call.


Wow, Timd, so your a mortgage insurer. You work for a PMI company? I never realized that.

I have more questions now. How much do you insure? What are your ramifications and limting conditions? Etc.?
 
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