National Appraiser Boycott

[Zoe]

You would need a lawyer with very good real estate skills and antitrust law experience to write the petition to Congress and other regulators. You would need a consumer oriented lawyer to write the petition.

Not somebody focused on appraisers. Somebody focused on public trust and the borrower. You can't win it from appraisers' side.

If lawyer says I don't like it. Let's boycott............... Fine. It would hurt if lawyer said let's boycott after diplomatic relations. It would hurt big lenders very bad.

It would hurt Fannie/Freddie bad. 1 week boycott would do major damage to income.

 

[Surf Cat]

Well, kinda. FIRREA applies to FRT's only. That's about 8-10% of all residential mortgages (at least according to Claude).

Okay....Many residential loans are outside that category, so they are not subject to the same federal appraisal mandate. With the way things are going....they'll waive those appraisals.

That said, if a lender still wants an appraisal and goes through an AMC, why do I as the appraiser have to pay the lender's service fee? The borrower pays for the appraisal.....order it from me directly and run it through a computer review system....fine with me.
I just don't want to be rolled in the alley for half the fee so the AMC's can profit on my expertise and licensure.

It's funny....to this day, all home owners then I get into a conversation with regarding what I do, are completely floored that a middleman takes half the fee and shops for the cheapest appraiser even though local appraisers are willing and able to do the job. Completely unaware. I haven't run into one homeowner that stated "wow, sucks for you appraisers that an appraisal management company takes half your fee". Not one.....

 

[Zoe]

The lawyer hired would need tied to a Congress person to present a new bill to Congress on separation of fees on truth in lending disclosures. If Congress said okay, it would happen and market structure would change.

There is nothing that would hurt public trust with separation of fees on truth in lending disclosures.

 

[TC]

The reason one becomes Self Employed is to remain independent and once he-she starts boycotting or signing petitions thier no longer Independent and it's time to get employed with a real company that offers a steady paycheck and some benefits.

Petitions and unorganized boycotts don't work it's been tried and those appraisers went broke. The Ship Sailed and it's not coming back.

Uh-oh, that's twice in one week I've agreed with you.

 

[Zoe]

Uh-oh, that's twice in one week I've agreed with you.

If you look at IRS rules on employee vs independent contractor, you are walking on thin ice.

I'll let you give me your perspective.

 

[Zoe]

I understand employee IRS rules on employee vs independent contractor.


I want market structure changed with separation of fees between AMCs and appraiser on truth in lending disclosures. I consider the bailout and feel your mention on boycott.

Glenn is rich and don't care. Don't listen to him. Watch this.................

 

[Zoe]

@glenn walker

How many appraisals have you completed in last year?

Glenn probably don't do appraisals anymore. Consider the source