We're Back To The Beginning

[Bob Ipock]

Absolutely correct, USPAP! I'm fine with opposing view points.
I wasn't suggesting he leave because I disagree. I suggested he leave for him "Damning this country", and referring to it as a "land of idiots".
Canada is a short drive from Colorado (please bring Rosie O'donnell with you)

But, since he said he was out of line, and posted a Seinfeld video, lets all hug it out and have some milk and cookies.

.
Never have much been up for for people denying 1rst Amendment rights of others. Serious business in these days and times.

 

[Bob Ipock]

Absolutely correct, USPAP! I'm fine with opposing view points.
I wasn't suggesting he leave because I disagree. I suggested he leave for him "Damning this country", and referring to it as a "land of idiots".
Canada is a short drive from Colorado (please bring Rosie O'donnell with you)

But, since he said he was out of line, and posted a Seinfeld video, lets all hug it out and have some milk and cookies.

.
Never have much been up for for people denying 1rst Amendment rights of others. Serious business in these days and times.

 

[TRESinc]

I have said this 100 times. The borrower knows upfront what the appraisal fee will be. It is in the TIL statement. The borrower DOES NOT care how the appraisal fee is paid, if there is an AMC or not. The borrower cares about getting the loan.....period. The borrower can shop for a loan long before an appraiser shows up. He can choose from lenders. One has a lower rate, one has loer closing costs, on has a lower appraisal fee. Don't believe for one minute the borrower cares where his fee goes. Why should he?

needs to be posted, and liked, more than once!

All these new residential trainees chomping at the bit to jump in under relaxed standards are in for a surprise once they have real bills to pay and families to support.

all these new trainees? exactly how many new trainees have started over the last 3 months since the standards were changed?

 

[Bob Ipock]

needs to be posted, and liked, more than once!




all these new trainees? exactly how many new trainees have started over the last 3 months since the standards were changed?

Well, first they would have to classes and register with the state. Many are not going to register until they find a supervisor. The latest NCAB numbers show the trainee count going up....by about 51 (as I recall) over same time last year. Most have not found a supervisor.

 

[chad hampton]

I've had plenty of borrower ask me why appraisal fees have almost doubled in the last 8 years. I think some of the ones that have been paying attention do care. After I explain how the profession has been taken over by corporations acting as middle men, they get the picture.

And moving out of the country isn't the answer. Nothing wrong with working to make it better it.

 

[Bob Ipock]

I've had plenty of borrower ask me why appraisal fees have almost doubled in the last 8 years. I think some of the ones that have been paying attention do care. After I explain how the profession has been taken over by corporations acting as middle men, they get the picture.

And moving out of the country isn't the answer. Nothing wrong with working to make it better it.

So the borrowers were concerned about the appraisal fee. So how many of the chose not to buy the house because of the appraisal free was too high? None. While they were getting the loan they were not concerned at all....but now they are concerned.

 

[J Grant]

In order to "do something", appraisers need to pool resources and create a public information website about appraisal in general, and about AMC;s appraiser fees and more importantly how AMC;s paying sub par fees ends of skewing appraiser selection. Prepare a printable list of questions for borrowers to bring to their lender right when borrower writes the check. And let borrowers know which lenders do not use AMC;s and assign direct, give them a boost as well.

While many borrowers may not care about the fee issue itself , they would be concerned about the result of the fee split, aka that it resulted in often a less experienced or competent person chosen for their assignment in order to profit an AMC . And even a competent even a competent appraiser, having to charge low to compete needs to hurry through a report to make it up in volume, which can compromise results.

Everyone assumes consumers dont care...first off, some do as I;ve been questioned numerous times by homeowners about fees. Second, the reason more of them don't care is because they have no information and are deliberately kept in the dark about it.

I don't expect consumer outcry so lout it immediately makes lenders change course, but an informative website that lets consumer borrowers know what is going on with a list of questions for their lender....the last thing lenders want is borrower distrust or suspicion, the lenders who enjoy free of cost AMC service or who profit from AMC's clearly don't care about appraiser fees, but they do care about public perception. If even a tiny amount of consumers choose direct assign lenders as a result the other lenders will take notice..

Clearly expecting low educated or too deep in the field to have other options to stand up to fee pressure alone is not working. But a shift in public and borrower perception can mean the appraisers are no longer alone.

 

[chad hampton]

True, when you are going for a loan, you look at the bigger picture. I always paid up front for appraisals - I wonder how many of them are just rolled into the loan these days? Makes it easier to swallow I suppose. Like an 8 year car payment, lol

 

[J Grant]

I think very few appraisal fees are rolled into the loan with post needing upfront payment.

 

[TRESinc]

In order to "do something", appraisers need to pool resources and create a public information website about appraisal in general, and about AMC;s appraiser fees and more importantly how AMC;s paying sub par fees ends of skewing appraiser selection. Prepare a printable list of questions for borrowers to bring to their lender right when borrower writes the check. And let borrowers know which lenders do not use AMC;s and assign direct, give them a boost as well.

you have been posting this same thing for at least 6 months, probably longer. what have you done to setup this site other than post on this forum?

While many borrowers may not care about the fee issue itself , they would be concerned about the result of the fee split, aka that it resulted in often a less experienced or competent person chosen for their assignment in order to profit an AMC . And even a competent even a competent appraiser, having to charge low to compete needs to hurry through a report to make it up in volume, which can compromise results.

got proof? the lone study done so far found that AMC and non-AMC appraisals were virtually the same. you would need hard evidence to back up this claim. not saying it can't be done, but it would not be an easy task to do and practically impossible to accomplish as an appraiser without access to a large enough pool of reports to be statistically significant. all you have at this point are your opinions.

Everyone assumes consumers dont care...first off, some do as I;ve been questioned numerous times by homeowners about fees. Second, the reason more of them don't care is because they have no information and are deliberately kept in the dark about it.

the reason they don't care is that the appraisal fee is one of, if not THE, lowest fees when it comes to obtaining a mortgage. give us one example... not many, not a few, just one... of a borrower walking away from an approved mortgage solely because of the appraisal fee or the fact that an AMC was part of the appraisal process. just one. until you do your point is moot, and wrong.