Kathy in FL
Member
- Joined
- Jan 17, 2002
- Professional Status
- Certified General Appraiser
- State
- Florida
Got a fax from some AMC I've never heard of in Michigan with a dartboard logo saying they need appraisers in my area. (Big surprise.) BUT...they've got this spiffy little chart that gives the rates they're willing to pay for each service...
The chart says something like, "You invoice us for $400" (URAR) "We'll pay you $280." "You invoice us for $500 (FHA)...fee paid to appraiser $350." Invoice us for $700 for a multi family and we'll pay you $490."
Now, I'm not a lawyer, but I do remember something about defrauding the homeowner (not to mention the lender) about the actual costs and fees involved in a loan. If I make out an invoice, it's damned well going to be for what I'm actually charging them...not for some mythical amount they're going to show the lender as their "cost."
I'd like to have some ammo to take back to them or to send to someone who regulates them...any help anyone?? Is this legal?
Kathy in FL
The chart says something like, "You invoice us for $400" (URAR) "We'll pay you $280." "You invoice us for $500 (FHA)...fee paid to appraiser $350." Invoice us for $700 for a multi family and we'll pay you $490."
Now, I'm not a lawyer, but I do remember something about defrauding the homeowner (not to mention the lender) about the actual costs and fees involved in a loan. If I make out an invoice, it's damned well going to be for what I'm actually charging them...not for some mythical amount they're going to show the lender as their "cost."
I'd like to have some ammo to take back to them or to send to someone who regulates them...any help anyone?? Is this legal?
Kathy in FL