NAR on AMC's

[Zoe]

Truth in lending disclosures are very important for a reason. Commingling of fees is a lie.

Play me.

 

[Zoe]

NAR as a whole does not like amcsss.

If you do then you have a problem.

NAR has big political power and money.

 

[Zoe]

NAR has ethics.

 

[Mile High Trout]

No matter what the NAR states in press releases, at the end of the day, the NAR and AMCs are on the same side and their missions are to ensure every sale is unhindered by an appraisal.

There is also the matter of many realty agents filing complaints against AMC's over the years, that should go somewhere, and the complaints never go anywhere.

AMC's have killed more deals than the appraisers they hire. NAR may have had enough.

Where to Look for More Fraud and Abuse at Fannie Mae - Appraisers Blogs

Fannie Mae has been a breeding ground for fraud & abuse, dismantling critical underwriting standards that once protected our housing market.

appraisersblogs.com

The potential impacts on recent administrative events relating to cfpb, fhfa, fannie and freddie, can not be understated.

Write a dang letter today. I mean today today today. Policy is changing.

 

[Mile High Trout]

AMC always appears in capital letters on this sight. Must be something wrong with my keyboard. cough.......cough.......cough.......

That particular conspiracy theory came true.. a m c / AMC / AMC / brb / wtf / Doing a little experiment here.

 

[Mile High Trout]

That particular conspiracy theory came true.. a m c / AMC / AMC / brb / wtf / Doing a little experiment here.

What's this nonsense about? Well, I found a work around for you Zoe, that's something I suppose. Space it out to avoid the auto caps switch.

 

[Bobby Bucks]

There is also the matter of many realty agents filing complaints against AMC's over the years, that should go somewhere, and the complaints never go anywhere.

AMC's have killed more deals than the appraisers they hire. NAR may have had enough.

Where to Look for More Fraud and Abuse at Fannie Mae - Appraisers Blogs

Fannie Mae has been a breeding ground for fraud & abuse, dismantling critical underwriting standards that once protected our housing market.

appraisersblogs.com

The potential impacts on recent administrative events relating to cfpb, fhfa, fannie and freddie, can not be understated.

Write a dang letter today. I mean today today today. Policy is changing.

From a PR standpoint, AMCs consistently do one of the most foolish things imagineable. Quite often on sales when they have their phone monkeys call all parties to "enhance" the turn time, they really pis$ off some of the agents. I get a kick out of it when agents I personally know ask me this........ "Who the hell is Buffy from Acme Appraisal management? That b1tch was trying to rush the appointment at the Kapuntik's house and sthat lady's a bigger b1thc than I am! A rush is not going to happen!" When those battle axe NAR agents hear the term AMC, that's what they remember.

 

[Mile High Trout]

From a PR standpoint, AMCs consistently do one of the most foolish things imagineable. Quite often on sales when they have their phone monkeys call all parties to "enhance" the turn time, they really pis$ off some of the agents. I get a kick out of it when agents I personally know ask me this........ "Who the hell is Buffy from Acme Appraisal management? That b1tch was trying to rush the appointment at the Kapuntik's house and sthat lady's a bigger b1thc than I am! A rush is not going to happen!" When those battle axe NAR agents hear the term AMC, that's what they remember.

A successful appraiser from the CO area used to post frequently on these boards. He's a realty person now for at least the past decade. We talked once and he had AMC's dead to rights with multiple violations and he said he was going to file complaints. He'd already filed complaints before, and the same thing happened again, and he was going to file again with more evidence. Absolutely nothing came of it. Because AMC's protect themselves. A board of individual licensees, overseeing other individual licensees. Then there is one corporate AMC executive sitting there... There is no AMC oversight and the structure is made a mockery because the system was not designed to regulate national corporations on a state board level.

I recently drew up a meme to illustrate this point. Attached.

We've got AMC's embroiled in class action lawsuits, and some of them hire dozens of appraisers at just the management level. We've got confirmed settlements where AMC's paid, or passed the blame to the appraisers they used. And exactly ZERO AMC controlling appraisers or management level appraisers are ever penalized. The regulatory system as it pertains to AMC's is a total joke, and a glaring undeniable conflict of interest scenario. Every last AMC employee should be required to have an appraisers license, and there should be no AMC representative sitting on the oversight boards. Working at an AMC in an employee status should prohibit and cause instant denial of any would be state regulatory board member. The fraud is baked in.