Strategies for raising fees

[J Grant]

I still think it’s wild that they refer to full interior appraisals as “desktops” just because they decided it was cheaper to send a uber driver out to do the field appraisal work. I remember when these first came out 8 yrs ago or so - I showed examples to a state investigator and he was floored that the appraisal was the appraisals looked exactly the same. It was a full URAR. The very definition of misleading.

It is called a hybrid when a PDC collector might come out for the inspection part. It is the same as a full URAR as you say- the only difference is who inspected it

A desktop means that nobody inspected the subject. A hybrid means a non-licensed appraiser might have done the inspection part.

 

[ZZGAMAZZ]

neither the word customary, nor reasonable means lowest.

Both terms individual or together might equate to "lowest" in a competitive market

 

[George Hatch]

I still think it’s wild that they refer to full interior appraisals as “desktops” just because they decided it was cheaper to send a uber driver out to do the field appraisal work. I remember when these first came out 8 yrs ago or so - I showed examples to a state investigator and he was floored that the appraisal was the appraisals looked exactly the same. It was a full URAR. The very definition of misleading.

Because the appraiser's SOW for what the appraiser was actually doing didn't include the appraiser making a personal inspection of the subject or any of the comps. 100% of the appraiser's SR1/SR2 was done at the desktop; and is plainly disclosed as such on Fannie's version of that report format.

Who did what?

 

[chad hampton]

Both terms individual or together might equate to "lowest" in a competitive market

If the intent or definition was for lowest fee to be considered customary or reasonable, they should have used the word lowest.

As it is, they spelled a few ways for C&R could be determined. It was also written than if you wanted to do your own fee study, you could send it to the board for approval. I wonder how many times that happened?

something that was clearly spelled out in black and white, has now morphed into call up 50appraisers and whoever give the lowest fee gets it. Sure.

 

[djd09]

yeah neither 'customary' or 'reasonable' in their definitions say lowest...notice that the crn shills skip right on over quoting the 14 buck appraisal

 

[glenn walker]

I still think it’s wild that they refer to full interior appraisals as “desktops” just because they decided it was cheaper to send a uber driver out to do the field appraisal work. I remember when these first came out 8 yrs ago or so - I showed examples to a state investigator and he was floored that the appraisal was the appraisals looked exactly the same. It was a full URAR. The very definition

If the intent or definition was for lowest fee to be considered customary or reasonable, they should have used the word lowest.

As it is, they spelled a few ways for C&R could be determined. It was also written than if you wanted to do your own fee study, you could send it to the board for approval. I wonder how many times that happened?

something that was clearly spelled out in black and white, has now morphed into call up 50appraisers and whoever give the lowest fee gets it. Sure.

That ship sailed 12 years ago. Time to find a new war to fight.

 

[chad hampton]

Thanks for the advice. But we’re not all cowards.

 

[George Hatch]

I agree with you - I always thought the FTC should have stuck to the original intent in their interpretation. But they didn't.

 

[Zoe]

I agree with you - I always thought the FTC should have stuck to the original intent in their interpretation. But they didn't.

Yeah. FTC could change the market structure and force separation of fees on truth in lending disclosures. FTC could override HUD.

FTC is one of most powerful govt entities. CFPB might be only higher entity. But FTC is right there with them.

 

[Zoe]

I have emailed FTC I think along with CFPB. I have emailed my State congress person who ain't worth a flip and a few others. I was just asking for separation fees.

I have even emailed the White house. White house did respond to me but nothing. I think FTC and CFPB responded but nothing.

Waste of my time I guess.