Request for Information Regarding Promoting Access to Mortgage Credit

[Bob Ipock]

Off topic a little. My son is an attorney and runs a Title Management Company for Berkshire Hathaway (Warren Buffett). Did you know (check it out online) that over the last several years they have bought 3 of the largest manufactured/modular home companies in the US. The own Clayton Homes, , Champion and Fleetwood I believe. Old Warren must have known all this new housing legislation that just passed (that Trump pouted and would sign, but it passed into law anyway). 90% of my work is non-lending but I will not lie and say i don't do any AMC work. If an order comes along and I can live with the fee and turn time.......I will certainly, do it. I realized many years ago that most appraisal fees are negotiable. Low fee? Ask for more and you are likely to get it....if not don't take the order. Manufactured and modular home sale are going to be a big part of the new home market. Get ready.

 

[J Grant]

Off topic a little. My son is an attorney and runs a Title Management Company for Berkshire Hathaway (Warren Buffett). Did you know (check it out online) that over the last several years they have bought 3 of the largest manufactured/modular home companies in the US. The own Clayton Homes, , Champion and Fleetwood I believe. Old Warren must have known all this new housing legislation that just passed (that Trump pouted and would sign, but it passed into law anyway). 90% of my work is non-lending but I will not lie and say i don't do any AMC work. If an order comes along and I can live with the fee and turn time.......I will certainly, do it. I realized many years ago that most appraisal fees are negotiable. Low fee? Ask for more and you are likely to get it....if not don't take the order. Manufactured and modular home sale are going to be a big part of the new home market. Get ready.

90% of your work is non-lending- explains it.
Your son is an attorney which is intersting and runs a title management company - not sure what that has to do with anything, though he sounds accomplished. Trump did not sign the housing bill. He did, however, sign an executive order that included the adverse changes to the appraisal profession which have taken place.

I do not accept AMC work. It cost me big $ supplement my income post HVCC, when I did some AMC work but turned down a lot of it, until I could find enough work from lenders and wholesalers who did not use AMC's.

The res license end for mortgage lender work is on life support anyway now due to Waivers and PDR collections. I am happy that I am at the tail end of my career but feel bad for the younger generation, because the reality is that mortgage lending work is the bulk of res license work . I fear the clients I have will not last due to pressure to divest from appraisals or use an AMC for the appraisals that remain.

 

[J Grant]

Off topic a little. My son is an attorney and runs a Title Management Company for Berkshire Hathaway (Warren Buffett). Did you know (check it out online) that over the last several years they have bought 3 of the largest manufactured/modular home companies in the US. The own Clayton Homes, , Champion and Fleetwood I believe. Old Warren must have known all this new housing legislation that just passed (that Trump pouted and would sign, but it passed into law anyway). 90% of my work is non-lending but I will not lie and say i don't do any AMC work. If an order comes along and I can live with the fee and turn time.......I will certainly, do it. I realized many years ago that most appraisal fees are negotiable. Low fee? Ask for more and you are likely to get it....if not don't take the order. Manufactured and modular home sale are going to be a big part of the new home market. Get ready.

I sent you a PM with my name.

 

[alebrewer]

One of the less discussed changes directly associated with 3.6 rollout is the expanded MFG and ADU programs by the GSE's. Bob is correct - I expect to see quite a bit more MFG volume due to the 3.6 lending changes.

 

[djd09]

US Bank's owned AMC Red Sky has recently stated to not include the appraisal fee invoice in the report.

the bank owns the AMC...so much for the middle 'man'...maybe they are paying overtime now

 

[Bob Ipock]

90% of your work is non-lending- explains it.
Your son is an attorney which is intersting and runs a title management company - not sure what that has to do with anything, though he sounds accomplished. Trump did not sign the housing bill. He did, however, sign an executive order that included the adverse changes to the appraisal profession which have taken place.

I do not accept AMC work. It cost me big $ supplement my income post HVCC, when I did some AMC work but turned down a lot of it, until I could find enough work from lenders and wholesalers who did not use AMC's.

The res license end for mortgage lender work is on life support anyway now due to Waivers and PDR collections. I am happy that I am at the tail end of my career but feel bad for the younger generation, because the reality is that mortgage lending work is the bulk of res license work . I fear the clients I have will not last due to pressure to divest from appraisals or use an AMC for the appraisals that remain.

What is has to do with it, is the huge company he works for is going big on manufactured/modular homes. I explained that. That was the point and he just happens to work for Berkshire Hathaway. My son lives 180 mile from me, our work does not intersect. He is a very accomplished attorney and is married to a pediatrician.