New 'memo" from LSI

[Colleague]

I use to work for Mr. Vann. He's a seasoned/experienced appraiser and a great guy. Having said this...he is an officer/employee of LSI.

The less money they pay their appraisers, the more LSI makes. That's right their profits come at the appraisers' expense. Why would they be willing to pay appraisers more money if it is going to generate them less income?

That's how they look at it. And besides, as long as they have a bunch of skippies willing to accept the going low ball appraisal fee rates, who can blame them?

 

[Frederick]

I use to work for Mr. Vann. He's a seasoned/experienced appraiser and a great guy. Having said this...he is an officer/employee of LSI.

The less money they pay their appraisers, the more LSI makes. That's right their profits come at the appraisers' expense. Why would they be willing to pay appraisers more money if it is going to generate them less income?

That's how they look at it. And besides, as long as they have a bunch of skippies willing to accept the going low ball appraisal fee rates, who can blame them?

If it were me I would rather build something of quality and substance and be respected by my peers.

This is America, anyone can make a buck here.

 

[Colleague]

If it were me I would rather build something of quality and substance and be respected by my peers.

This is America, anyone can make a buck here.

Me too...and the ones making the big bucks are the AMCs and the lenders who own them! Yeah...OK, let's charge the borrower $500 on a closing statement, pay the appraiser $150 and let the AMC pocket $350. And to make matters worse, the borrower thinks they paid the appraiser $500.

 

[DTB]

If it were me I would rather build something of quality and substance and be respected by my peers.

This is America, anyone can make a buck here.

Perhaps he IS building something of substance and quality. It may or may not be in the appraisal field.

I'd rather make the money, do whatever I want to and have my self respect and my family's respect. Everyone else is free to kiss off.

 

[Rick Neighbors]

Lsi

I can count the appraisals that I have done for LSI on the fingers of one hand......and it's been years since I did one. They were all full fee appraisals, probably because I do a lot of rural work, and most Appraisers around here like cookie cutter deals in suburban neighborhoods.

That being said, I haven't told them to take me off their "fax list" because of the entertainment factor. When I see their faxes, I get a chuckle because I know that they are great "string generators" on this forum.

I would never work for them again, mostly due to their ridiculous policies. This is my company for a reason. I don't need some Chief Appraiser telling me how to run my company! And, while I don't mind requests for some legitimate additional lender requests, just try and demand something from me!

The fax paper that has been wasted on my fax machine by this company is well worth the great fun it generates!

Rick