What happened to all the work? No orders, no refi, no foreclosures, no purchases,

[George Hatch]

I'd find something else to fill my time and income requirements while simultaneously refusing laughable fees. If enough appraisers did that it might move the needle.

"If enough appraisers did that it might move the needle."​

​

It's worth repeating.

 

[ucbruin]

Repeating for it's futility....
Appraisers have been bemoaning fees for decades....
How many appraisers does it take thread a needle....

 

[Charles West]

Repeating for it's futility....
Appraisers have been bemoaning fees for decades....
How many appraisers does it take thread a needle....

There is nothing but upside to a collective action if it produces leverage.

 

[BRCJR]

MBs are not lenders, it's not their money, and they don't make loan decisions; and neither do the loan officers at a bank make loan decisions. That's the operative distinction in both FIRREA and D-F rules. Keep the loan salesmen out of the appraisal engagement loop.

Lenders can and do comply with FIRREA and D-F who employ their own in-house appraisal staffs which do not answer to anyone in the loan production side of the business. Chief Appraisers at these lenders are commonly a VP slot which (in theory) has parity with the VP of loan production. As in, peers with loan production, not subordinates to loan production.

That's not to say the lenders always adhere to these rules, but those are the rules from the regulatory side.

Some banks do give loan officers their own authority to make loan decisions.
I work for one that does. We have loan authority levels as low as 50,000 up to 750,000 without having to bring the loan for approval to a committee.
Depends upon their level of experience and track record.

 

[Carnivore]

I thought I heard news the other day about Janett Yellen might raise interest rates...because of inflation. Just what all appraisers need to have her throw water on the fire. She must hate some appraiser who missed the bulls eye for her refi.

 

[J Grant]

I thought I heard news the other day about Janett Yellen might raise interest rates...because of inflation. Just what all appraisers need to have her throw water on the fire. She must hate some appraiser who missed the bulls eye for her refi.

is she still in office?

 

[Sandra Koutsopoulos]

...and THIS came into my "in" box for field review today:

UWM Appraisal Direct
UWM Appraisal Direct
appraisaldirect@uwm.com
833-896-2300

Details
FEE: $325.00 (minus $29.00 Lender QC Fee, minus $16.00 Platform Fee, and minus $9.73 Processing Fee)
DATE NEEDED: Apr 23, 2024 11:59 PM
RUSH ORDER?: No
WHO IS IT FOR?: United Wholesale Mortgage

 

[IlliniApp]

is she still in office?

At least until January

 

[J Grant]

At least until January

lol she is secretary but it seems like Jerome Powell, the head the Fed Reserve calls the shots with interest rates , he is a disaster (Trump appointee, ) and has been since day one, just awful - he had de rates way too low then left them like that for too long, now he clings to an out moded goal of 2% inflation and punishes every ne with his stupid higher rates to get there - the world has changed that 2-3 % goal is absurd, at least for a few years, he should make a realistic goal.

I never liked the fed "solution" to higher rates of wrecking the lives of working people in order to lower rates to see unemployment rise to do it-------------

 

[Non Sequitur]

I thought I heard news the other day about Janett Yellen might raise interest rates...because of inflation. Just what all appraisers need to have her throw water on the fire. She must hate some appraiser who missed the bulls eye for her refi.

I’m not a fan of Yellen, but after record low interest rates caused housing to shoot through the roof, who would have thought that when rates shot up from 2% to 8% housing would keep those gains? Interest rates aren’t the problem for housing, not responding to current interest rates is. As hard as it is to hear, if housing doesn’t give back some or all of those gains, rates will stay high until income catches up or something else in the economy breaks. Stagflation has begun.