More AMC and PDC Bull

[Sadie]

I didn't intend any allegation against him as an individual ( I happen to think highly of him wrt his posts, giving appraisal advice, and for the way he conducts himself here like a gentleman) . But he alleges appraisers are to blame for accepting low fees, for not banding together, etc.

IT seems all the allegations on this topic can only flow one way here - working appraisers blamed for accepting low AMC fees, treated like children for being "emotional" , accused of not understanding how business works, etc. - but if we point out that appraisers in AMC management positions might contribute to the problem, it is treated as awful.

Blaming the appraisers for low fees ignores the very real reason we all work, putting bread on the table. If you are between a rock and a hard place financially, even a little fee that has you working below minimum wage is better than 0. Or the very real situation that an employer is requiring the appraiser to accept those fees or leave.

 

[George Hatch]

That is the risk in almost all forms of business. Or employment. Moreso for self-employment.

Oracle just laid off 15,000 employees. THEY obviously weren't protected from the risks of being rendered obsolete or redundant or superfluous.

 

[Carnivore]

just a reminder

here you go Jgrant the revenge you so want against evil AMC's

The AMC Their entire business model was built on the margin from full 1004s, not on micro‑fees. of desktops

 

[George Hatch]

just a reminder

here you go Jgrant the revenge you so want against evil AMC's

The AMC Their entire business model was built on the margin from full 1004s, not on micro‑fees. of desktops

AI could possibly render AMCs financially obsolete. If a lender could effectively manage 500 appraisals a month with a single employee + an AI-agent they might not have the economic incentive to outsource that process to a 3rd party. That AI can shop by fee just as easily as any human clerk. The lender wouldn't even have to give that AI an impressive title like "Director of Appraisal Engagement" . They just need to let it run 23hrs a day x 7 days a week to micro-surveil the progress of those appraisal assignments.

The future isn't female. Or male.
The future is AI

 

[glenn walker]

Appraisers in general live and operate on an Island and in a bubble because most are lone wolf's sitting in a bedroom with a computer.

The long term effects and the persons lack of social skill and isolation creates a victim mentality of us versus them. Finally they start to compare themselves with burger flippers when discussing income and fees they collect.

The AMC is just the punching bag that becomes the excuse for ones failing ability to market directly to customers and to manage and operate a real business. If ones business is taking orders like fast food then expect fast food wages and being treated like a McDonalds employee by your clients which are really just customers.

 

[Carnivore]

Oh no doubt in my mind AI the super fast AMC AI can be an appraisers nightmare also if it focuses on merit instead of fast and cheap but that prolly take longer for appraisers because their still neccessary due to judgement

below is what AI says about AMC's

There’s no question that AI is rapidly moving into the space traditionally handled by Appraisal Management Companies. A growing number of tech firms are building systems that automate core AMC functions like order management, scheduling, data collection, photo verification, and quality control. These platforms use machine learning, computer vision, and massive property datasets to streamline workflows that used to require large AMC staff. As lenders adopt more automated valuation tools and GSEs continue expanding data‑driven alternatives, AMCs are under increasing pressure to evolve or risk being sidelined by faster, cheaper, AI‑driven solutions.

 

[J Grant]

"leaves more for the appraiser" is contrary to the observed conduct of market participants in all manner of goods and services.

Nobody gets emotionally torqued when the seller of a property acts in what they perceive to be their own best interests.
Nobody gets emotionally torqued when the buyer of a property acts in what they perceive to be their own best interests.

Everyone understands that in commerce both sides are going to advocate for their own interests to the maximum extent, and that the actual transactions will be the result of the meeting of the minds.

If you want to sell something on eBay you already know that the pricing is going to be more sensitive and volatile than at the shopping mall.

Here is your false equivalence again _

Here's a clue: on eBay, and in every other manner of goods and services, it is free market supply and demand where the customer/consumer is free to select a product or service.

This is not the case with regulated mortgage lending, which works with a narrow group of who can select the appraiser and part of that group ( AMC ), are shopping not just price sensitive on cost, but as a wholesaler looking to mark up. And regardless of the outcome, the consumer lawsuits recognize an EXCESSIVE markup from the AMC's.

 

[J Grant]

AI could possibly render AMCs financially obsolete. If a lender could effectively manage 500 appraisals a month with a single employee + an AI-agent they might not have the economic incentive to outsource that process to a 3rd party. That AI can shop by fee just as easily as any human clerk. The lender wouldn't even have to give that AI an impressive title like "Director of Appraisal Engagement" . They just need to let it run 23hrs a day x 7 days a week to micro-surveil the progress of those appraisal assignments.

The future isn't female. Or male.
The future is AI

This comment shows you STILL do not understand that lender, when not using an AMC (regardless of deploying AI), you fail to understand that the lender IS NOT GOING TO FEE SHOP REGULAR MORTGAGE APPRAISALS BECAUSE A LENDER CANNOT FEE SPLIT AN APPRAISAL FEE WITH ITSELF.

With no markup possible, why is a lender charging a fee on each assignment? They are not, they do not do that now. Are you really this ignorant about how lenders order appraisals when they order direct? The lender pays a panel of fee appraisers the same agreed-on C and R fee, and that fee to the appraiser is typically the same appraisal fee quoted to the borrower.

A lender can not profit from a markup of the appraiser fee, and the lender seeks to charge borrowers the SAME appraisal fee for regular orders ( exception being complex/high value)

AI can be deployed for assigning, QC review or auto pay. It costs a lender a lot less now to run a panel with portals and automation than it used to.

 

[glenn walker]

I believe he and we all understand but you refuse to believe that and so you will argue and debate that your right and everyone else is uniformed or ignorant of how the system really works. Being right is whats most important and nothing else matters.