Oh Lordy.OCWEN Statement

[Patti Jury]

OH LORDY am I confused!

I know of apprasiers using MLS photos for the comp picture photos..

BUT THE SUBJECT?

New statement released by OCWEN! "The Subject?" Did they not even inspect the property? Would not shock me! I turned in a guy for the same thing...got the photos of subject from the Realtor!..Made up the rest using comp photos of properties in Denver not Colorado Springs.

_____________________________________________________


Dear Vendors,



Photographs of the Subject Properties:

In the past several weeks, numerous photographs of the subject properties returned to OCWEN Realty Advisors (ORA) were not current photos but were either MLS or aged photos which are not acceptable to our Investors/Clients and have resulted in the assignments being placed on hold for correction. Therefore, effective May 19, 2008, all photos of the subject property must be time/date stamped on all valuation products (automated by your digital cameras).



Trip Fees:

As of January 1, 2008, the 2008 optional standard mileage rates used to calculate the tax deductible costs of operating an automobile for business equals 50.5 cents (50.5¢) per mile. The Standard Mileage Allowance or Mileage Reimbursement Rates are issued by The Internal Revenue Service (IRS) every year. The allowance is applied on the actual miles driven for business.



Effective May 12, 2008, OCWEN Realty Advisors (ORA) adopted these standards set by the IRS. Trip fees will be calculated at the rate of 50.5 cents (50.5¢) per mile. All vendors requesting a trip fee will be required to submit proof of their trip to the subject property in the form of a photo of the subject’s door/address along with a map showing the distance between the subject’s address and their business address.





Thank you,



OCWEN Realty Advisors (ORA)

 

[Workbox]

So they are quoting IRS as on how to do your job. Does that make you an Employee?

 

[Willie]

OH LORDY am I confused!

I know of apprasiers using MLS photos for the comp picture photos..

BUT THE SUBJECT?

New statement released by OCWEN! "The Subject?" Did they not even inspect the property? Would not shock me! I turned in a guy for the same thing...got the photos of subject from the Realtor!..Made up the rest using comp photos of properties in Denver not Colorado Springs.

_____________________________________________________


Dear Vendors,



Photographs of the Subject Properties:

In the past several weeks, numerous photographs of the subject properties returned to OCWEN Realty Advisors (ORA) were not current photos but were either MLS or aged photos which are not acceptable to our Investors/Clients and have resulted in the assignments being placed on hold for correction. Therefore, effective May 19, 2008, all photos of the subject property must be time/date stamped on all valuation products (automated by your digital cameras).



Trip Fees:

As of January 1, 2008, the 2008 optional standard mileage rates used to calculate the tax deductible costs of operating an automobile for business equals 50.5 cents (50.5¢) per mile. The Standard Mileage Allowance or Mileage Reimbursement Rates are issued by The Internal Revenue Service (IRS) every year. The allowance is applied on the actual miles driven for business.



Effective May 12, 2008, OCWEN Realty Advisors (ORA) adopted these standards set by the IRS. Trip fees will be calculated at the rate of 50.5 cents (50.5¢) per mile. All vendors requesting a trip fee will be required to submit proof of their trip to the subject property in the form of a photo of the subject’s door/address along with a map showing the distance between the subject’s address and their business address.





Thank you,



OCWEN Realty Advisors (ORA)

So you can drive 40 miles to a subject, inspect the house, drive 20 miles for the comps, and drive 40 miles back for $50 and change? This ain't Calcutta.

 

[Riick]

So you can drive 40 miles to a subject, inspect the house, drive 20 miles for the comps, and drive 40 miles back for $50 and change? This ain't Calcutta.

So.. cost is what you're supposed to sell your services for?
Where is that litle cost item called TIME?!
What ever happened to profit?
I guess it's just un-american.

As for me, my fee is my fee, if I choose to drop it or increase it, that's up to me, not anyone else.

F/M

This is not tolerable

Send them a bill for the Mileage, and add Professional Time as a seperate line item

 

[Marcia Langley]

Dang, they only pay milage? So I guess your time is worth nothing? Appraisers have done this to themselves by referring to everything as a trip fee. If all you do is drive, maybe that's OK. But if you have to use your judgement and expertise as an appraiser and extend your liability you should be billing for appraisal services and not just a trip fee.

Are so many people working for cost (or less) that clients can get away with this? Even when I worked for a corporation milage was paid on top of wages.

The same holds true for billing by the page. A one page report can be simple and cheap to produce or complex and expensive to produce.

I hope most appraisers value their worth more than that.

 

[Patti Jury]

Trip Fee?...It would appear that many appraisers NEVER had to bother with a trip fee because they NEVER inspected the "SUBJECT"....

 

[JRS at OBX]

If my territory had more than a single north/south highway, I would send them the most squiggly out of the way map I could. "Of course I needed to drive through Georgia to get from South Carolina to Virginia!!"

 

[Marcia Langley]

Milage is meant to pay for gas and car maintenance. This is working below cost because you could be spending that time on profitable work. What a joke!

 

[Alison Swain]

When you send them the map, make sure it's from Mapquest, calculating all the turns and distances along each street. This is where "as the crow flies" does not apply!

 

[Non Sequitur]

I have an idea, if an appraiser uses an MLS/aged photo for the subject remove him/her from the approved vendor list. Real simple and solves the problem fast. And as far as I'm concerned good due diligence; if the appraiser lied about viewing the subject he/she likely lied about other major components of the report. Sending out an e-mail is a joke.

Oh and the mileage charge. This can be solved without an e-mail too. If the broker/agent didn't put a lock box on the property or it doesn't work, pull the listing. Then charge the broker/agent whatever the appraiser charges for the wasted trip. If the broker/agent doesn't reimburse ORA then remove them from the approved vendor list. No need for e-mails, do this once or twice and word will spread.