Truth or Dare

[Terrel L. Shields]

Who controls your fee in secondary market appraising? Enter all responses that apply to you. In a PM a Forumite argues that the appraiser is 100% in charge of their fees.

 

[Dublin ohio]

In a PM a Forumite argues that the appraiser is 100% in charge of their fees.

Technically correct. But in a competitive market principles do not pay the bills for the vast majority of residential appraisers

 

[J Grant]

I voted but it is a limited choice poll that ignores the part of the secondary market of lenders who order direct (without an AMC ) - the poll centers around AMC work which is fine in and of itself, since a large volume share of GSE /secondary work goes through AMC's - the work that is left one might add, since WAIVERS are now the valuation method for a significant portion of loans-

 

[djd09]

why did you start the thread under USPAP, fannie and freddie?

 

[chad hampton]

15 years ago AMC had me fill out fee sheets. I haven’t done that in at least five years. That tells you who controls the fees. It might be the worst case price fixing I’ve ever seen.

 

[Terrel L. Shields]

why did you start the thread under USPAP, fannie and freddie?

Secondary market

 

[djd09]

Secondary market

oh...you are doing secondary market now?

 

[Terrel L. Shields]

oh...you are doing secondary market now?

Nope...

 

[djd09]

edit.

 

[Mile High Trout]

240% of respondents agree; Multiple choice voting does not work.

Did they trick you with the ranked choice voting scheme too?

Everyone knows the AMC's have a financial incentive to drive consumers fees up, drive appraisers fees down, and pocket the difference.