I'm not surprised..

[Mejappz]

....15th st is a party

It’s like a big ol' shindig where the party favors are appraiser money being tossed around like confetti. "Whoops, I didn’t realize I wasn’t supposed to give that away. Let’s just pretend it’s a generous gift from the universe!" When it’s not your cash, it’s all fun and games until someone’s left cleaning up the mess.

 

[djd09]

It’s like a big ol' shindig where the party favors are appraiser money being tossed around like confetti. "Whoops, I didn’t realize I wasn’t supposed to give that away. Let’s just pretend it’s a generous gift from the universe!" When it’s not your cash, it’s all fun and games until someone’s left cleaning up the mess.

d.c. is a cesspool...and some worship them

 

[George Hatch]

The solution is straightforward: consumers would cover the cost of the appraiser’s services, while lenders would handle the expense of appraisal management. This could be implemented today with a simple directive from the CFPB stating that consumers should not be responsible for paying for outsourced services required by the lender to close the loan. This approach would resolve the issue. It’s not surprising that much of the discussion on this thread seems to be driven more by ideology than practical considerations.

Okay, so the borrower gets billed only for the appraisal.

Have you thought this through at all? Do you actually think that's going to stop an AMC from shopping by fee?

 

[Zoe]

We have a shortage of appraisers. Did you know that?

 

[Dublin ohio]

I only have direct clients. They have to have someone find the appaiser for that order. With an AMC they just send the order and the AMC does the ordering. So why do the direct lenders still do it themselves. It must have a better result for them than the bottom feeder AMC appraiser.

So as a business model, no AMC is better for my lender's purpose.
The banks and some lenders don't care about you, period. They never will. They care even less for there staff appraisers. But they have the govenment in it's pocket. Only if enough public outrage becomes public, then it will only change.

Much wasted thought on this topic. Just like uber drivers making less money from the company new charges.

Are you sure your "direct" lenders order all of their appraisal direct. They have to be subject to the same market dynamics as any other lender. What would these direct lenders do if suddenly their volume doubled. Hard to believe that the same staff that was managing 40 appraisals a month could manage 80 appraisals a month. Unless half of them were dead weight when the volume was 40 a month. If direct engagement was the most efficient way to operate. Why would any lender use an AMC

 

[Zoe]

Okay, so the borrower gets billed only for the appraisal.

Do you actually think that's going to stop an AMC from shopping by fee?

Sir, I am only asking for separation of fees on truth in lending disclosures.

Do you have a problem with that?

 

[Zoe]

Sir?

 

[Dublin ohio]

Sir, I am only asking for separation of fees on truth in lending disclosures.

Do you have a problem with that?

I don't think anybody has a problem with that. But in reality it would accomplish nothing when it comes to appraisal fees

 

[George Hatch]

Sir, I am only asking for separation of fees on truth in lending disclosures.

Do you have a problem with that?

I said 100x that I'm all for it. More Transparency > Less Transparency. I also advocate for approaching the feds to reconsider and revise their interpretation of C&R to revert to its original meaning and intent. I greatly prefer the prospect of appraisal fees floating at market rate. Even if it ends up floating at market rate in real time on a day-to-day basis. Maybe it's $450 today but $500 next Thursday.

 

[Zoe]

I said 100x that I'm all for it. More Transparency > Less Transparency. I also advocate for approaching the feds to reconsider and revise their interpretation of C&R to revert to its original meaning and intent.

Your reply is good Sir but do realize how much competition would be created for lowest fee between AMCs if fees were separated?

Thank you in advance for your answer.