TAF and HUD make a deal...PAREA providers win

[George Hatch]

Nobody other than appraisers know anything about AMC fees.

 

[chad hampton]

I know AI members are pissed at their leadership and are starting to demand answers on how much Parea is costing the organization. You need a lot more than 10 people year signing up to recoup those millions. And they’re currently pressuring folks to be mentors on the cheap for the cause. That won’t last forever.

 

[chad hampton]

Nobody other than appraisers know anything about AMC fees.

Right, we’re talking about people who want to get into into the profession. Or lack there of. I’m sure they do a little research online before they decide to become an appraiser.

And I’ve had many homeowners. Ask me why they were appraisal cost $900 now when it used to cost 350. I always tell them the truth. Some of us still believe in transparency.

 

[Non Sequitur]

Nobody other than appraisers know anything about AMC fees.

That may be changing, a couple of people on FB collected that info and sent it to the CFPB where there's a sympathetic ear.

 

[chad hampton]

That may be changing, a couple of people on FB collected that info and sent it to the CFPB where there's a sympathetic ear.

What? I was told that ship has sailed

 

[George Hatch]

That may be changing, a couple of people on FB collected that info and sent it to the CFPB where there's a sympathetic ear.

Like I keep saying; the only way the lenders and the AMCs are going to change how they do business is if the govt intercedes.

 

[George Hatch]

What? I was told that ship has sailed

You have been told such, and that ship did sail. It's been at sea for almost 15 years now.

 

[chad hampton]

Not really, up until about five years ago, most AMC’s were relatively fine to work with. They were serving the role in which they were intended, as a middleman. Most of the times on a $600 fee to the borrower the appraiser was paid 450 and the AMC 150. these days we’re getting closer to those numbers being flipped. Notice no savings are being passed on to the borrower.

Everything goes in cycles, they spent years and a lot of money, flying around their representatives to bribe and threaten appraisal boards and legislatures to get their way, and it worked. But now certain powers are starting to pull back the reins after they become aware. These changes take time. Just like it did for them.

 

[George Hatch]

I don't know what you're talking about on that one. I was hearing the same complaints from appraisers in 2010 than I'm hearing now.

 

[chad hampton]

Well, that’s been my experience. Sure, a few have always sucked, corelogic, clear capital, etc. hell, even class was ok until the hedge fund bought them and they forgot they were in the public trust business and not the make money until you puke business.

What’s been your experience with mortgage lending and AMCs?