North Carolina Adopts Customary And Reasonable Fee Guidance Document

[Warren Sumner]

Yeah, I fell into the misinformed category, unfortunately. It all feels pretty hopeless at this point.

 

[Warren Sumner]

Aaaaaand just received a notice that the NCAB, who was scheduled to discuss the C&R regulations on Wednesday at their meeting, has just removed that item from their agenda. Why am I not surprised?

 

[djd09]

strike

I like to call it a national temporary vacation.

 

[Eli]

This is why govt/corporations have worked so hard over the last 30+ years to destroy any sort of professional organization. We'd have options if we were organized. Instead we have to sit back and wait for a state legislature that was hand picked by big business to come help us. I'm not going to hold my breath.

The $250 appraisal is here to stay. Only way to change it is to go on strike, break up the banks/AMC's, or go back to local lending where the free market might still exist.

Unity or big brother, but big brother can only keep the sunglasses on so long when state business taxes and antitrust issues are involved. Hell, the AI can't even get along with the AF. Forget unity and look to big brother.

 

[Eli]

I don't know if Phil Crawford keeps preaching he may get a pretty big go fund me page.

 

[Bob Ipock]

So much confusion and mis-information. Representatives of the NCAB are having meetings around the state to speak to appraisers and answer questions. These meetings usually run between one and two orders. I have set up one of these meetings for March 15th in Gastonia. Anyone interested is welcome to come. If you are interested in coming, get in touch and I will send you the information.

 

[hastalavista]

So much confusion and mis-information. Representatives of the NCAB are having meetings around the state to speak to appraisers and answer questions. These meetings usually run between one and two orders. I have set up one of these meetings for March 15th in Gastonia. Anyone interested is welcome to come. If you are interested in coming, get in touch and I will send you the information.

USPAP-

If it is possible, do me a favor: Ask your board if within whatever C&R regulation they pass, a "fee cap" for appraisers is an option.

Thanks!

 

[timd354]

I spent the whole month of January quoting the VA schedule, because I thought the C&R adoption was a done deal. I've gotten no orders...None. Do I like having to "break the line" and quote less? No. But I have to pay the mortgage and feed the kids. I'm not even getting orders at $400 when I quote them; $100 below the VA guidelines. It's pretty disheartening.

Its too bad that you believed the lies (some of which were posted on the AF) which stated that the NC Board adopted the VA schedule as C&R. I hope that following these lies did not cost you too much income, but this demonstrates the need for appraisers to fully understand the laws and regulations which affect them. The laws and regulations provide two presumptions of compliance with C&R and only presumption 2 involves paying government fee schedules. Please take the time to look up the IFR and pay particular attention to presumption 1 which allows AMC's to pay fees that are not at all related to the VA fee schedule or any other government fee schedule.

 

[timd354]

I ran into an associate of 20 years who stated they were as busy as ever, working 20 hours a day but was complaining that they were only getting $275 per assignment.

You just can't fix stupid.

 

[Meandering]

Its too bad that you believed the lies (some of which were posted on the AF) which stated that the NC Board adopted the VA schedule as C&R. I hope that following these lies did not cost you too much income, but this demonstrates the need for appraisers to fully understand the laws and regulations which affect them. The laws and regulations provide two presumptions of compliance with C&R and only presumption 2 involves paying government fee schedules. Please take the time to look up the IFR and pay particular attention to presumption 1 which allows AMC's to pay fees that are not at all related to the VA fee schedule or any other government fee schedule.

And while Presumption 1 allows:


STATE BOARDS would do well to recognize that Presumption 1, while it does not require evidence of government fees, it also does not allow the reliance upon only the fee a single entity has paid in the past, but rather Presumption 1 needs to account for the fees paid that are customary and reasonable within the GEOGRAPHIC MARKET. Not that are customary of a single payer. And the kicker to Presumption 1 is that BOTH the Creditor and their AGENT have to show compliance, not just the AMC.

at a rate that is customary and reasonable for comparable appraisal services performed in the geographic market of the property being appraised.:

And the question is not if an AMC is dominating a market area, but rather is a Lender OR an AMC dominating a market area.






And that little part, which is most of presumption 1 gets overlooked far too often in State rules and the discussions ACROSS THE INTERNET.


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