Verne Hebert
Senior Member
- Joined
- Feb 25, 2002
- Professional Status
- Certified General Appraiser
- State
- Montana
Appraisers are backed-up 5 to 8 weeks here. My office offers an express service with completed appraisals in very short periods of time. This service is crucial to a number of people--those with rate locks and those in contract for transfers. We have done this for most of the previous "waves" in the past.
We charge the base appraisal fee and an express fee, time dependent.
Now however with the predominance of the AMC's, often the AMC's are in contract for a flat fee in the area, or with the add for their "service" in addition to the express fee is kicking the appraisal request out of the pipe. This middle man or appraisal brokerage function inhibits and/or eliminates the ability of the "appraisal client and end user (s)" to take this opportunity in the interest of the borrowers.
The AMC's are spending time on the phone seeking the service they are looking for, from the low bidder who cannot timely perform, and many Americans are not getting their loans handled as a direct result.
We are unindated with calls from the "borrowers" directly and want to pay an express COD fee at the door to get their transaction handled because their lender cannot due to their ordering process.
If AMC's did not exist and the lender's ordered their own appraisal assignments directly and had the immediate opportunity to confer with their clients and their intentions, there would be alot more happy borrowers with new low rate loans. They are squeezing out a Jackson or a C note at the expense of the borrowers now.
I had a LO call from a 4 location credit union and tell me he had two credenzas (8 drawers) of loan apps and can't get an appraisal. He would pay double fee to expedite them. Smart man, he is looking out for his people's interests. This is America.
If mom and pop on the streets of America knew what was truly happening on the back side of their loan request, they couldn't handle it.........Enron, Wall Street, WorldCom, Wall Street, Nasdaq, and now their loan process.
God Bless America.
We charge the base appraisal fee and an express fee, time dependent.
Now however with the predominance of the AMC's, often the AMC's are in contract for a flat fee in the area, or with the add for their "service" in addition to the express fee is kicking the appraisal request out of the pipe. This middle man or appraisal brokerage function inhibits and/or eliminates the ability of the "appraisal client and end user (s)" to take this opportunity in the interest of the borrowers.
The AMC's are spending time on the phone seeking the service they are looking for, from the low bidder who cannot timely perform, and many Americans are not getting their loans handled as a direct result.
We are unindated with calls from the "borrowers" directly and want to pay an express COD fee at the door to get their transaction handled because their lender cannot due to their ordering process.
If AMC's did not exist and the lender's ordered their own appraisal assignments directly and had the immediate opportunity to confer with their clients and their intentions, there would be alot more happy borrowers with new low rate loans. They are squeezing out a Jackson or a C note at the expense of the borrowers now.
I had a LO call from a 4 location credit union and tell me he had two credenzas (8 drawers) of loan apps and can't get an appraisal. He would pay double fee to expedite them. Smart man, he is looking out for his people's interests. This is America.
If mom and pop on the streets of America knew what was truly happening on the back side of their loan request, they couldn't handle it.........Enron, Wall Street, WorldCom, Wall Street, Nasdaq, and now their loan process.
God Bless America.
