Nc To Use VA Fees For C&R

[timd354]

So establishing a baseline from a reliable source is not a good thing? Your AMC/lender bloodlines are showing Tim.

I have never worked with or been associated with any AMC in any capacity ever and I just told you that I don't like how the regulations were written, but they are what they are.

There is no such thing as a baseline based on VA fees that an AMC is required to use. While it is true that an AMC can avoid any question about C&R by adopting the VA fee schedule in a given area, this certainly is nothing new and certainly is not a requirement that an AMC must adhere to.

Putting out false hope and claiming that things have changed when there really has been no change is not a good thing. Putting out false hope that the government and the regulators are going to save appraisers as a group from themselves when it comes to low fees is also not a good thing.

Sometimes reality stinks, but the fact that you (and I) don't like it does not change it.

 

[timd354]

The law gives an Appraiser a place to file a compliant that will be looked at.

What were the options before the law, other than to "get better clients"?

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.

 

[BRCJR]

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.

Not all states regulate AMC's and many are tweaking their regulations as they become aware of issues. I consider what NC did as tweaking the governance a little bit.
Making it a law gives the Appraiser a little more traction.

 

[chad hampton]

NC never had a C&R law on the books until this last session - now the NCAB is figuring out how to determine what C&R is.

While national C&R fee "laws" were on the books, it's regulated by the state. Each state legislature needs to decide how they will enforce it. I find it odd that any appraiser would somehow think that what NC has done is a bad thing (or not an important step). Sadly, if you're state isn't working on how to enforce/establish C&R, low AMC "fees" will be in your future for quite some time.

There's still work to be done, but each step brings us a little closer.

 

[Eli]

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.

Typical Timd

I bet you think a traffic ticket is nothing new unless you have had one.

Lol

This here is MS son. Where is you from boy?


Can I see yo license son? I know you have a license boy.

What gives you the right to operate this here vehicle in this manner? C&R? The hell you say. Show me.

 

[timd354]

NC never had a C&R law on the books until this last session - now the NCAB is figuring out how to determine what C&R is.

While national C&R fee "laws" were on the books, it's regulated by the state. Each state legislature needs to decide how they will enforce it. I find it odd that any appraiser would somehow think that what NC has done is a bad thing (or not an important step). Sadly, if you're state isn't working on how to enforce/establish C&R, low AMC "fees" will be in your future for quite some time.

There's still work to be done, but each step brings us a little closer.

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:



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.

 

[timd354]

Typical Timd

I bet you think a traffic ticket is nothing new unless you have had one.

Lol

This here is MS son. Where is you from boy?

Eli, I never said that I think that the laws and regulations are well written, but they are what they are and when people get over their emotions and wishful thinking and perform a dispassionate analysis of those laws, it is pretty obvious that they are not going to save appraisers from themselves. Dodd-Frank was signed into law on July 21, 2010 and in the almost 6 1/2 years since that time, little has changed, so based on past history why would anyone think that now anything would suddenly change? But I know that you still somehow holdout hope that the government is going to take over the appraisal profession and make everything better despite all the evidence to the contrary

 

[timd354]

Typical Timd

I bet you think a traffic ticket is nothing new unless you have had one.

Lol

This here is MS son. Where is you from boy?


Can I see yo license son? I know you have a license boy.

What gives you the right to operate this here vehicle in this manner? C&R? The hell you say. Show me.

This post perfect reflects the level of your intelligence and sanity

 

[bnmappraisal]

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:

Now there is a real benchmark for C&R

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...

 

[timd354]

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:
...

I will be first to say that many AMC's are bad actors and most are a huge pain to work with. Part of the reason that I left the field when I did in 2009 is that I personally did not want to deal with working for AMC's. However, that does not change the absolute fact that under existing laws and regulations, the NC Board's pronouncement about VA fees is absolutely meaningless.