Inadequate fees for Field Review Work

[Metamorphic]

I foward it all to my representative with a brief explanation, the problems are typically glaringly obvious.

How long do you give the state to take action before you call the representative?

 

[Kevin Mc]

How long do you give the state to take action before you call the representative?

My state is extremely underfunded in enforcement. Taking out the shysters typically takes in excess of 1 year.

 

[demcpeake]

When a AMC calls an appraiser and says, "I've got a review that
needs to be done." And the appraiser says, "Sorry, I don't do
review work." You've found a very intelligent, experienced appraiser.

That's the darn truth. I've stopped doing field reviews due to the amount of work and the small fees they want to pay... but hey, someone is doing them and doing them at that fee. We all need to say, "GET SOMEONE ELSE" .

 

[Wayne Tomlinson]

I did my first appraisal review a few years before some of you had your first appraisal class. The report was a bunch of crap, the appraiser was 60 miles from home, MLS in our area, all the comps were provided by the listng/selling broker.

Took twice as long as doing the original appraisal should have taken.

I have never even considered doing another.. for any price.

Wayne Tomlinson

 

[Phil Westfall]

Originally Posted by Smokey Bear
Repeat after me: cheap field reviews exist for one reason: to get an additional E&O policy to go after when the deal goes south.

I think that will also make the requirement of the proposed HVCC "a minimum of 10% of appraisals be reviewed" a very poor fix to a problem and practically a joke.... Like most have said in this thread, most that are accepting these cheap fees are likely to just agree and get paid...Thus making the review process a farce. Basically another loophole to jump through for the lenders, where they see no and hear no evil.... smearing good appraisers along the way. How do we as appraisers get some control back?

 

[Kevin Mc]

How do we as appraisers get some control back? [/I]

Turn in all the bad guys you find out there and absolutely refuse to serve those that refuse to pay reasonable fees.

 

[Lost Cause]

dunno, typical rabble rousing stuff. not about the object of the complaint, just that if no action was taken by the Board, you could point it out publicly. Perception, ya know?

Just something like, local appraiser turns in over 27 reports supsected of fraud and awaits state board for further action.

An official at the state board says" we are looking real hard at this stack of papers". And adds, we are serious about fraud, that is why we have disciplined about 30 appraisers over the last 6 years....

There's an appraiser in Aurora, Colorado doing exactly this. Check out Phil Rice's web site:

http://www.mkgappraisal.com/Site_Map.htm#Complaints

He goes the whole nine yards, naming names and making accusations. I don't know if it's accomplished much, but he's put it out there. Phil used to post regularly here, and for all I know with the pseudonyms, may still be posting here.

 

[Elliott]

I think if Phil was posting here, we'd know it. He has a strong edge and
I imagine he's in Ms. Toll's gun sights.

 

[Steve Metz]

I did my job and refused 3 reviews. AMC on the phone said $150 was the most they would pay. I told them sorry but it's $350 each for me to start my car.

 

[Michael Tipton]

I did my job and refused 3 reviews. AMC on the phone said $150 was the most they would pay. I told them sorry but it's $350 each for me to start my car.

$150 might be OK IF they paid full benefits and all of my business expenses. :Eyecrazy::Eyecrazy:m2: