What is going on with all the cancelled orders

[ken351]

The most important part of the appraisal?
getting paid.
I inspect first, get paid, then pick comps. you pick more appropriate comps after seeing the subject, and it cuts down on cancellations.

 

[hastalavista]

The FED recently published their loan officer survey of lending guidelines. The results? Lenders across the board are tightening up their borrower qualifications and loan program guidelines.

Anecdotal: Last two weeks we were busy with origination assignments. This week? Dead.

 

[PropertyEconomics]

Good grief, it's not you. We get 10 to 20 'orders' a day, but 50% are canceled due to this that, or the other. I'm betting it's credit most of the time, and value second (at least for us). We won't promise it, and I think many still do, so we often get cut after the order is placed.

Dave...

Ten to Twenty orders a day ... 50% cancellation rate ... = Five to Ten Orders a day .... 25 to 50 orders a week ... I see some major exaggeration here ..... care to expound on that??? Are they all or even the vast majority "restricted use" reports?

 

[xmtpedprl]

No exaggeration, are you kidding? You mean after all this time you don't understand who and what we are? I have a client base of several hundred 'regulars,' and a boatload of advertising, and I *always* answer my phone. My operation is 5 states as of present, so those don't go as far as you must be thinking, especially given all the c%&p that comes over lately. And please, don't start in on the AMC stuff, all my people are full time dedicated folks, not randomly chosen people I terrorize for slave wages.

If I don't get that many orders a day I'm dead, end of story.

Dave...

 

[PropertyEconomics]

No exaggeration, are you kidding? You mean after all this time you don't understand who and what we are? I have a client base of several hundred 'regulars,' and a boatload of advertising, and I *always* answer my phone. My operation is 5 states as of present, so those don't go as far as you must be thinking, especially given all the c%&p that comes over lately. And please, don't start in on the AMC stuff, all my people are full time dedicated folks, not randomly chosen people I terrorize for slave wages.

If I don't get that many orders a day I'm dead, end of story.

Dave...

hmmmm so many restricted use reports huh?

 

[OSU Beavers]

I think Dave has a pretty big office. Please no picking fights in my thread PE.

keon351
How does picking comps after seeing the subject cut down on cancellations? Every MB looks for Skippy with the feel you out questions which I can usually deflect with my rural area speech. In the last case the homeowner was the one who picked a more agreeable appraiser "One who would wait to get paid until after the loan had closed". So we have two violations there 1) the homeowner selecting the appraiser and 2) the appraiser's compensation contingent on the loan closing.

 

[PropertyEconomics]

I think Dave has a pretty big office. Please no picking fights in my thread PE.

keon351
How does picking comps after seeing the subject cut down on cancellations? Every MB looks for Skippy with the feel you out questions which I can usually deflect with my rural area speech. In the last case the homeowner was the one who picked a more agreeable appraiser "One who would wait to get paid until after the loan had closed". So we have two violations there 1) the homeowner selecting the appraiser and 2) the appraiser's compensation contingent on the loan closing.

Whos picking fights? I asked a question with no answer. I will refrain from asking any more. Sorry

 

[athome77]

Received 3 FHA orders on friday from an AMC that starts with Q that I haven't heard from in over a year. No case #s. Client called this morning to check status. I explained properties won't be inspected without case #. Got one case # this afternoon. Other two were cancelled. Found out from a fellow appraiser this evening that both cancelled orders magically appeared in his in box.

 

[ken351]

keon351
How does picking comps after seeing the subject cut down on cancellations?

OSU,

Picking comps after inspection was just the secondary advantage to my main point. true, It does not cut down on cancellations.

 

[REM sleep]

Q for Question mark?

Received 3 FHA orders on friday from an AMC that starts with Q that I haven't heard from in over a year. No case #s. Client called this morning to check status. I explained properties won't be inspected without case #. Got one case # this afternoon. Other two were cancelled. Found out from a fellow appraiser this evening that both cancelled orders magically appeared in his in box.

I work for an AMC that begins with a Q. They haven't gotten the whole "FHA" game down yet. They order the appraisal and want statuses with forward progress with no FHA Number. day after frustrating day I call the AMC and say - I Need an FHA number in order to proceed. FHA rule!! The Lender leaves it up to the LO to get the FHA number. I have to upload status, call the AMC, Call & re-mail the LO, call & e-mail the Lender - all for the FHA number that should be on the order sheet from the start. "Old School" Faxed an order with an FHA Number.