Nc To Use VA Fees For C&R

[Bob Ipock]

So do tell of the numerous ways of proving compliance. Edumacate me as to why this is not a great announcement.

Because it is not true or accurate. Call Roberta at the NCAB and she will be glad to explain

 

[Bob Ipock]

Does not every state that regulates AMC's allow appraisers to file complaints against an AMC? I don't see how that is anything new.[/QUOTE

The NCAB has never and does not now have the authority to set fees. The legislature has given them authority to accept fee complaints filed based on Dodd Frank. NOTHING will happen a the NCAB has a rule making hearing, conduct a survey in order to comply with Dodd Frank OR accepts the C & R of an existing C & R survey. Also, nothing is going to happen until appraisers file complaints which allege that the fees being paid are not in compliance with the fee survey used by the NCAB.

 

[Bob Ipock]

If you consider providing false hope a good step, then so be it. The regulators and the government are never going to save the appraisal profession (as a group) from itself.

By the way, the NC law that requires AMC's to pay C&R specifically states that the AMC shall compensate appraisers in compliance with federal law and regulates regarding C&R. Here is what the NC law actually states:

View attachment 30559

So again, I reiterate my point which is demonstrably correct - the recent pronouncement by the NC board regarding the VA fee schedule and C&R has changed exactly nothing...If you want to believe in the fairy tale that somehow things have changed and the regulators are going to ride in and save the day for appraisers and make sure they all are paid high fees, I guess I cannot stop you.

"the recent pronouncement by the NC board regarding the VA fee schedule and C&R has changed exactly nothing..." The NCAB did not make any such pronouncement. There are at least 3 appraiser groups in NC putting out incorrect information. If you want FACTS....contact Roberta at the NCAB . They will be releasing more information as soon as they process through a rule change hearing and write rules for this issue. They may or may not use the VA rate as C & R. They have no less than four surveys now (by others) and may prepare their own. This dog and pony is far from over.

 

[Bob Ipock]

Although I do agree with the supply/demand crowd regarding running a (appraisal) business more often than not, I am also a realist with some firsthand knowledge and experience, especially with the AMC type clients. Regarding the AMC type clients, I agree with Mr Rex:



Business is business and if you want to undercut your competition...it's business. It happens all the time. I, personally, like to think our industry is a little different since we are so highly regulated, especially on the RES lending side (i.e. UAD!) So if we're all supposed to be held to the "same" minimum standards (again, i.e. UAD) then a benchmark may not be so bad...

This will not be a "minimum fee" issue. Any AMC will be able to pay any fee that the appraiser agrees to. My opinion? Nope, call NCAB counsel to verify. Rest assured te same appraisers willing to work for low fees will continue to do so.

 

[bnmappraisal]

Rest assured te same appraisers willing to work for low fees will continue to do so.

Sadly, you're probably right.
Again, this is held true by the Supply/Demand ... there will always be someone out there who will "do it for less"

 

[Bob Ipock]

Its nice to have a formal statement stating that the VA schedule is the benchmark, but the bottom line is, it is still up to the individual appraisers to not accept lowball fees.

The VA fee is only one of MANY surveys. There is no requirement that the VA fee be "the benchmark". It may or may not be the survey fee used by the NCAB.

Its nice to have a formal statement stating that the VA schedule is the benchmark, but the bottom line is, it is still up to the individual appraisers to not accept lowball fees.

 

[Bob Ipock]

False hope? Finally there is a real baseline for C&R. I understand your disdain for the average appraisers day to day when you stand on the opposite shore, but you, Joan Trice and your ilk that talk the talk of appraiser advocacy but no longer walk the walk can go F yourselves with your opinions about appraiser related issues.

The NCAB has NOT addopted the VA asthe fee survy to be used in NC. Call Roberta

 

[Bob Ipock]

I wonder if the adoption of the VA schedule gave a little confidence to those accepting low fee assignments to raise fees. They now have something formal to point to as an indication of C and R. Even though the adoption of the VA schedule as compliance may be full of legal holes, it might have encouraged appraisers afraid to rock the boat the courage to say no to low fees

The NCAB has NOT adopted the VA rate or accepted their fee survey. This is now a lie that will continue to grow. Once it gets on here it only grows.

 

[Bob Ipock]

I wonder if the adoption of the VA schedule gave a little confidence to those accepting low fee assignments to raise fees. They now have something formal to point to as an indication of C and R. Even though the adoption of the VA schedule as compliance may be full of legal holes, it might have encouraged appraisers afraid to rock the boat the courage to say no to low fees

The NCAB has NOT adopted the VA rate or accepted their fee survey. This is now a lie that will continue to grow. Once it gets on here it only grows.

Don't get to excited, I think NCPAC jumped the gun. What's being reported on another site is that the Board voted (this morning) to accept the Guidance Document and to go forward with the rule making process and to expose the PROPOSED rules for comment; Vote is in February.

Yes, they did jump the gun and posted reports before the NCAB meeting was over. There is NO VA BENCHMARK in NC.......maybe later but not now.

 

[Bob Ipock]

Personally I find C and R laws to be a violation of capitalism. However I have to look at some of these AMCs and they are getting what they deserve.

This is another example of one side pushing too far and the correction being an over-correction.

I don't like regulated fees but I also don't like people who lie, steal and cheat.

Many AMCs have been lying, cheating and stealing from the consumer (not the appraiser).

Any appraiser and ANY AMC can agree on the fee. C & R is NOT a minimum fee.