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Trid "moving The Appraisal Fees To The “services You Can Shop For” Section Of The New Forms."

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DWiley

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Apr 4, 2007
Professional Status
Certified Residential Appraiser
State
Tennessee
From August of 2015?
 

Mike Kennedy

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Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
Just ran across it. Are you aware of the outcome Danny?
 

DWiley

Elite Member
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Apr 4, 2007
Professional Status
Certified Residential Appraiser
State
Tennessee
Just ran across it. Are you aware of the outcome Danny?
The outcome was that the fees were not separated in the new forms. I think those supporting separation might have gotten their way had they not been so late to the game. I personally have no strong feelings either way on the matter, but it is clear that some do/did.
 

Mike Kennedy

Elite Member
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Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
The outcome was that the fees were not separated in the new forms. I think those supporting separation might have gotten their way had they not been so late to the game. I personally have no strong feelings either way on the matter, but it is clear that some do/did.

thanks for the update.
 

Non Sequitur

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Supporting Member
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Feb 14, 2002
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Certified Residential Appraiser
State
Louisiana
Consumers don't care, fee disclosure in reports hasn't worked in appraisers favor and it wouldn't have on the new settlement form.
 

jay trotta

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Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
Lumping Fee's together as One is misleading; I believe someone just got put on the fence for grouping "Other Fee's" as one, if expense are different they should be separate so the Homeowner knows what they are paying for.

There was one I clearly remember from years back, known as a "currier fee", it was not a large amount, but it required change. My Question is, Why are they "hiding the AMC fee" ? From the Public ? Deceptive practices continue 10 years after the so-called bubble, amazing.
 

Elliott

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Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
I've told this story before, but, I'm doing a re-fi for a local business person's house, smart guy, I'm doing the final because his lender required earthquake straps. He tells me, "It's a great deal, I'm not paying any closing costs." I respond, "Yeah, my brother got the same deal. But do you really think I did your appraisal for free, and the title company is providing you title insurance for free, and the loan production company did all their work, all for free?" I hated to break his bubble, but I said, there's a par rate and your rate includes $8000 of closing costs. Lenders, et al, can get away with an awful lot when rates are 2.8%.
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
Those who own the gold make the rules.
 
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