UAD 3.6 discussion

[NC Appraising]

Ps....

I thought that appraisal modernization was suppose to save the borrower money and reduce costs for the borrower?

Lol. An't that some crap when the AMC is keeping the overages.

Return the money to the borrower!

 

[NC Appraising]

I do believe that the TRID has to give an exact amount

You are correct on the trid.

I worded it wrong. I do alot of new construction and on the contract I see a range for a appraisal fees.

I hate posting AI, but this is where im coming from

AI
Yes, lenders will give you a range for appraisal fees before you apply, but you will receive a more specific cost estimate after submitting a full application. Lenders must provide a Loan Estimate within three business days of receiving your application.

Before you formally apply
Before you apply, you can get a general idea of appraisal costs by comparing average fees in your area. The average appraisal for a single-family home is typically between $300 and $500, but can cost more depending on the property. You can also ask potential lenders for an estimated appraisal fee range before proceeding with an application.

 

[Non Sequitur]

I do believe that the TRID has to give an exact amount

Yes. And that's the excuse AMCs use when an appraiser requests a bump in fee after visiting a property and finding out it's a monster. Funny how it's no problem when they bid stiff out and pay an appraiser less.

 

[Surf Cat]

Cannot clone report 24 minute mark.

Very good video

Let's throw up a couple of NAN reviews shall we?



Todd....Bro... they were super friendly to your face and then laughed when they hung up the phone knowing very well they were going to keep your "Rush fee" for themselves! Took em 5 days to find the cheapest sucker to appraise your property. Hasta la vista baby!


Oh Adam... silly goose.... they got you with the old "urgency" ploy. You paid for a five-star restaurant but you got Taco Bell. Don't be too hard on the appraiser.... he only got a couple hundred bucks. He's just trying to put gas in the car and food on the table.

 

[chad hampton]

I fully understand the point you were trying to make. Everyone knows that you and other appraisers are pissed off about fees (and rightfully so in many cases), however I don't think it serves the profession well to mix the fee discussion with "protecting the public trust".....You ceertainly don't want to imply that appraisers are not going to uphold their duty to proect the public trust unless they are paid a higher fee.

I average about 450 an appraisal. Not great but not too bad either. What gave you the idea I’m upset at the fees I get?

It’s just important that everyone understand that when you have 4-5 massive AMCs manipulating fees, you’ll get an inferior work product. No one can claim they don’t understand that at this point. It’s the system some on here even lobbied for. They got paid handsomely to argue for it.

 

[timd354]

I average about 450 an appraisal. Not great but not too bad either. What gave you the idea I’m upset at the fees I get?

It’s just important that everyone understand that when you have 4-5 massive AMCs manipulating fees, you’ll get an inferior work product. No one can claim they don’t understand that at this point. It’s the system some on here even lobbied for. They got paid handsomely to argue for it.

You say that AMC's deliver an inferior work product, which may or may not be true. The problem is that you have no actual evidence to prove that is the case and the lenders and GSE's, who are the main customers for appraisals apparently are satisfied with the work product they receive from the AMC's. Unless and until someone produces actual evidence that AMC appraisals are generally of an unacceptable quality, then nothing is going to change. By the way anecdotal evidence regarding some scrappy AMC appraisal some appraiser has seen is not going to cut it as you can find examples of both very good and very bad appraisals produced both by AMCs and appraisers not working for AMCs.

 

[NC Appraising]

Let's throw up a couple of NAN reviews shall we?

View attachment 102873

Todd....Bro... they were super friendly to your face and then laughed when they hung up the phone knowing very well they were going to keep your "Rush fee" for themselves! Took em 5 days to find the cheapest sucker to appraise your property. Hasta la vista baby!

View attachment 102874
Oh Adam... silly goose.... they got you with the old "urgency" ploy. You paid for a five-star restaurant but you got Taco Bell. Don't be too hard on the appraiser.... he only got a couple hundred bucks. He's just trying to put gas in the car and food on the table.

Don't bash them until you have tried them.

What's not to like? Naan is a soft, leavened flatbread traditionally baked in a tandoor oven, known for its pillowy texture and often brushed with ghee or butter. Made from flour, yeast, and yogurt, it's a versatile accompaniment to Indian curries and other dishes, perfect for scooping up sauces or used as a wrap.

it's delicious

 

[chad hampton]

You say that AMC's deliver an inferior work product, which may or may not be true. The problem is that you have no actual evidence to prove that is the case and the lenders and GSE's, who are the main customers for appraisals apparently are satisfied with the work product they receive from the AMC's. Unless and until someone produces actual evidence that AMC appraisals are generally of an unacceptable quality, then nothing is going to change. By the way anecdotal evidence regarding some scrappy AMC appraisal some appraiser has seen is not going to cut it as you can find examples of both very good and very bad appraisals produced both by AMCs and appraisers not working for AMCs.

Are you used to getting something better, higher quality, for a cheaper price?

You realize that’s the position you’re arguing right now. I realize why our GSE buddy says stupid **** like that, he’s been for sale to the highest bidder for 20 years. But why do you do it?

 

[djd09]

shills come in all shapes and sizes...

 

[NC Appraising]

You say that AMC's deliver an inferior work product, which may or may not be true. The problem is that you have no actual evidence to prove that is the case and the lenders and GSE's, who are the main customers for appraisals apparently are satisfied with the work product they receive from the AMC's. Unless and until someone produces actual evidence that AMC appraisals are generally of an unacceptable quality, then nothing is going to change. By the way anecdotal evidence regarding some scrappy AMC appraisal some appraiser has seen is not going to cut it as you can find examples of both very good and very bad appraisals produced both by AMCs and appraisers not working for AMCs.

I agree.

Chad is in my market. There is a skippy firm that has been in business for 30 years. I somehow get copies of their reports. They work with AMCs and direct clients.

I just got a copy of one of their reports. Piece of poo. FHA direct client no AMC.

What I've learned...

It doesn't matter if skippy works for a AMC or a direct client. They both produce poop appraisals. The fee is irrelevant

Then there are appraisers in my market who I thought were good appraisers, then I get a copy of their report...full good fee.

There are good AMCs and bad AMCs. Some of the small AMCs are in bed with the lender and only want number hitting appraiser.

There are some large AMCs that will stip you to death and want a somewhat quality report.

The issue is....why does the AMC or the lender keep using bad appraisers? How does this local skippy firm stay in business for 30 years?

Most lenders and AMCs wants an appraisal that meets the number and GSE'S guidelines.

It's not a level playing field. All things are not equal.