Intimidation....I will NOT be silenced

[George Hatch]

Where was the tagline? Maybe it did not show up on my screen in his post. Or I am an idiot, apparently.

 

[bluechip]

To those of you who grabbed a copy of my book, thank you. I genuinely appreciate the support.
For some context, I made the original post on LinkedIn criticizing Clear Capital. I am not on their panel, I never accepted the assignment, and I have no business relationship with them. Yet Solidifi apparently decided to appoint itself the AMC police and take action against me over criticism directed at another AMC.

I am now preparing a formal complaint with the Georgia Real Estate Appraisers Board regarding what I believe raises serious concerns about coercion, intimidation, and the ability of independent appraisers to openly criticize AMC business practices.

For the record, I haven't performed lending work in over two years. I perform private appraisal work exclusively and have absolutely no desire to return to the lending world.

Best two years of my professional life.

 

[J Grant]

Back when mortgage broker pressure was a thing, I gave an interview to the Sun Sentinel, a well-distributed local newspaper, about mortgage broker value pressure. I was actively working at the time and knew there was a possibility the interview might hurt me.

Most of my clients did not care, or maybe they never read it. I only had a handful of clients, which is typical when they give enough volume.

One client stopped giving me work. Another client, to my surprise, called me and said he liked that I had balls (even though I am a female- I am quoting what he said). He seemed to enjoy the fact I had the nerve to put my name on the interview and continued to give me work.

The big bad mortgage brokers were not all as evil as they were painted to be.

Compared to the small group of AMCs with an iron grip over the market, the mortgage brokers were easier to deal with because if one dropped you, you could solicit work from a host of others. others. With AMC market share consolidation, if an AMC blackballs an appraiser, especially if they share the appraiser's name with other AMCs, it could be career suicide.

 

[Joe Flacco]

What I don't understand about this business is why people work with a client they hate, continue to work with them, and then complain about them.

 

[Joe Flacco]

The entitlement is ridiculous. People think they are entitled to orders and entitled to their customers profits and operating costs.

These are the facts.

The bank may be the client, but the AMC is your customer.
The AMC's increased appraisal fees to cover their profits and operating costs. The typical appraisal fee was $450 before the AMC's and they raised the fees to cover their end.

If you don't like your customer then don't work with them, it is simple as that.

 

[J Grant]

The entitlement is ridiculous. People think they are entitled to orders and entitled to their customers profits and operating costs.

These are the facts.

The bank may be the client, but the AMC is your customer.
The AMC's increased appraisal fees to cover their profits and operating costs. The typical appraisal fee was $450 before the AMC's and they raised the fees to cover their end.

If you don't like your customer then don't work with them, it is simple as that.

It is the AMC's who are entitled via the govt fee split perk on the HUD, not the appraisers

Do you work for an AMC or a lender, or do you have a personal connection with them or a GSE? Since most of those taking your position tend to have that.

 

[J Grant]

It is the AMC's who are entitled via the govt fee split perk on the HUD, not the appraisers

Do you work for an AMC or a lender, or do you have a personal connection with them or a GSE? Since most of those taking your position tend to have that.

It is not as simple as that. You can read the plethora of past posts here that explain it, and articles on the subject , or even AI now to understand why.

 

[J Grant]

The entitlement is ridiculous. People think they are entitled to orders and entitled to their customers profits and operating costs.

These are the facts.

The bank may be the client, but the AMC is your customer.
The AMC's increased appraisal fees to cover their profits and operating costs. The typical appraisal fee was $450 before the AMC's and they raised the fees to cover their end.

If you don't like your customer then don't work with them, it is simple as that.

It is not as simple as that. You can read the past posts here and or the aticles that explain it, or even AI now addresses it.

 

[HVNY]

They are coming after our independent businesses. Not sure if they will worm their way into General Practice, but I'm sure they're working on it.

 

[J Grant]

They are coming after our independent businesses. Not sure if they will worm their way into General Practice, but I'm sure they're working on it.

Imo, AMC;s will not bother with the General Practice of res appraisers in any scale due to the following:

1) There is a limited amount of volume

2) With the HUD government entitlement perk of the bundled appraisal fee on the HUD, the AMC can keep a big chunk of an appraisal isal fee, as much as 50% or more. In a private job, the customer, the lawyer, estate planner, or owner would need to pay the AMC fee out of pocket. I doubt any of them would fork over a big chunk of change for an AMC service which provides almost no value to them. To be fair, AMCs provide specific mortgage lender services such as compliance or a QC review, though the overcharge via the bundled fee is exorbitant.

The above 2 reasons is why, after all these years, we have not seen AMCs make inroads into private work. It disgusts me when people incorrectly refer to the appraisers who think they are entitled - it is the AMCs enjoying a huge govt entitlement perk. The fact that AMC;s are largely absent from the private sphere shows they can not compete by selling their service in the free market.