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I'm piling on....F the AMCs

djd09 said:
how was the ivpi going to pay appraisers....and how was it going to fund itself hee haw :rof:
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Thanks for asking

The GSEs were supposed to fund an IVPI with a $25M grant as one of the elements in the HVCC itself. There were several of proposals. In our proposal we expanded upon the proposed ombudsman role to operate as a blind rotation panel that was proposed to be operated at a break-even. Not at a profit.

But most appraisers didn't like any of that.
 
I knew while we were writing it that it wouldn't pass in that form, if at all. I used it in part to drop some reasoning that went on to resonate with readers, including the writers of D-F itself.

I will never apologize for attempting to help appraisers get a better deal than they were getting from the AMCs.
 
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...it is kool aid pouring time :rof:
 
Say what you want, but IRL none of the other proposals were as pro-appraiser as what we submitted. But in counterpoint most appraisers rejected this proposal out of hand. Believe it or not, the blind rotation element attracted a lot of criticism. I think that one might have been a deal breaker for a lot of appraisers.

I had some other ideas that were more aggressively pro-appraiser but they didn't make the final cut. That's what happens when it's a committee making decisions instead of an individual.
 
pro appraiser...pro AMC...pro revaa...pro 15th st...pro big lender sow :rof:
 
i mean really...the AMC model is so bad...that you dont even do them and i dont blame you :rof:
 
1. AMCs have to have in-house appraisers on staff to review the submitted reports. That part is OK and within the spirit - and letter - of the laws/regs establishing the AMCs.

*BUT*

2. AMCs should be PROHIBITED from using their in-house appraisers to give valuations to third parties.

That #2 above is "The Crooked Graft" that has now been enabled and exploited by none other than Fannie/Freddie - who have intended for some time to get rid of ALL independent appraisers.

An endeavor in which they will shortly be successful - but not without the "Law of Unintended Consequences" coming into play - much to their grief.

Bill Pulte WILL find out what this is all about - and that he has been royally LIED to by people under his command. And his wrath will be terrible.

Anyhow - that is my prediction. We shall see how it plays out in real life. :unsure:

(No skin off my back. I'm retiring in '26 either way. But I know that 10 years ago this coming change would have been absolutely devastating to my ability to earn a good living the rest of my life - as it now is to many younger appraisers. And that is not just wrong - it's downright EVIL.)
 
djd09 said:
pro appraiser...pro AMC...pro revaa...pro 15th st...pro big lender sow :rof:
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Not one of my actual positions has been intellectually inconsistent with each other or with our professional standards.
 
djd09 said:
i mean really...the AMC model is so bad...that you dont even do them and i dont blame you :rof:
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I don't just decline to work for AMCs. I also decline to work for certain lenders and other clients.
 
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