You keep attributing to the AMCs the conduct of the lenders who weighed their various alternatives among the other AMCs as well as the choice of ditching the AMC to go commando. That's a big untruth right there and it isn't productive to what you want to see happen.
I have noted hundreds of times that the lenders are also to blame - with regard to alternatives, if the lenders had to pay a hard cost to use the AMC , I bet their alternative choice would be a lot different.
The AMCs are competing for those accounts just as much as the appraisers are competing for those assignments.
Another untruth is that the HVCC stripped appraisers of their clients, when in reality what it actually did was strip the lenders of their MB-select alternative.
The HVCC imposed a prohibition on individual mortgage lenders and their staff from selecting the appraiser, along with some extra regulations. The AMC proposes that we can offer you FREE OF COST service to the lenders, by getting compensated from the HUD bundled fee. That induces a huge market shift to the AMC's - again, can you honestly tell me that if instead, the AMC;s said to the lenders, " we can relieve you of the ordering with our service and it will cost you der, $100-$250 an order'.... if the lenders had to pay a cost, would they make the same choice?
Another untruth is that these assignments belong to the appraisers. They don't. The assignments belong to the lenders. You can tell that's the case because in each of the lender's transactions they remain a constant that never varies whereas the appraisers are the variable.
I never said the assignments belonged to the appraisers. The assignments are generated by the lenders. However, the lenders need an appraiser to do an appraisal. Lenders do not require an AMC to process the appraisal. The appraiser is compensating the AMC for a third-party service by getting less of the appraisal fee. My argument against it from day one. Stop attributing ideas to me that I never conveyed, such as the assignments belong to the appraisers ( making me take time out of my day to refute it )
Those ain't your assignments. They never were. You can't lose something that you never possessed and/or were entitled to.
More of the same, exhausting to respond to charges like this about nothing
Allegedly,
Top AMC by volume controls less than 5% of the AMC trade
BS. "Allegedly," according to whom?? Are you D Wileys; echo chamber? He has to fight to defend the position that there are several hundred AMC's registered out of some kind of fear, it seems that the reality is the big volume of work is handled by a smaller number of them. But even he did not state that the top AMC volume is 5% of the AMC trade. Do the research - a small number of large volume nationwide AMC's handle the majority of the volume.
#2 AMC controls less than 3%
#3-#5 each control less than 2%
There is no conspiracy, monopoly or oligopoly. What exists is a highly competitive market that is very sensitive - via the feedback loops - to price. For the lenders, the AMCs and the appraisers. Sensitive to the point of being volatile and with the potential to become even more volatile as we go.
I never said there is a conspiracy or monopoly. Look up my posts, yuo will never see those words used. What I said is the trtuh, that a narrow demand exists due to the consolidaion of ordering to a small number of AMC;s , coupled with the fact that they are not retial end users, they are wholesalers who mark up the appraisal by X $ and then take that X $ out of the appraisal fee that otherwise would have gone to the appraiser.
Unqualified: That is probably the biggest untruth being parroted by many in this discussions. It makes zero sense to say someone who passed all the courses, passed the licensing exam and has spent 5+ years in the business can be characterized as unqualified to appraise most of the SFRs in the GSE and related pipelines.
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The point being, if there are any solutions for the fee appraisers then these elements comprise the inertia that such efforts will have to overcome. I consider THAT to be the legitimate position that I and other appraisers should be supporting.
Unqualfiied based on a number of AMC reports that I have recieved and reviewed ( and the numerous posrts here asking inane quesions starting iwth, "I am working on an AMC order"....Not all appraisers who do work for an AMC are less qualified/comptent, but a number are - newer , not mentored it seems asking questions here as trainees doing an AMC assignment. The icentive of choosing by a low fee that profits the AMC can affect who they choose for an assignment.
