Where are the orders!

[Zoe]

Yea, yea, yea. Separation of fees. The cure all to end all. I can think of a couple of situations that would complicate that approach. You could to if you would stop and think about it.

You don't realize how much it would change the landscape. Simple separation of fees on truth in lending disclosures.

 

[Zoe]

Trust me Joan knows. All AMCs know it would change the landscape. Simple separation of fees. Be truthful on TIL disclosures.

 

[Zoe]

Just one more thing that VA don't suffer from. All is truthful on the TIL disclosures.

Also VA needed no bailout.

Think about the large sum of money VA guarantees on loans and needed no bailout.

I would assume VA is largest player in field that required no bailout.

There is no commingling of fees there.

 

[Zoe]

Yea, yea, yea. Separation of fees. The cure all to end all. I can think of a couple of situations that would complicate that approach. You could to if you would stop and think about it.

Sorry Dublin. I may have hurt your northern feelings. I don't appraise people. I appraise real property rights. However I am very skilled at banking knowledge and regulations.

 

[Zoe]

Truth in lending disclosures are very important. NAR just proved that in an indirect way.

That has meat that CFPB and FTC could run with.

Okay, CFPB #1.

FTC #2

HUD# 3

Got me?

 

[Zoe]

would be separation of fees if chopra got involved.

 

[Zoe]

VA don't care. They ain't fighting that battle. They have trophy on no bailout needed.

 

[davetherock]

17 bid orders from AMCs in the last two weeks this month and none were accepted. Where are all of the appraisal orders and where is this industry going! It’s miserable waking up to an empty inbox.

What fees are you guys bidding for a regular 1004 URAR? Because I go low and nothing then I set it to normal fee and also zip. Something is off.

Any advice would be greatly appreciated. I am in the New Jersey/New York market.

So many new appraisers jumped into the business in the past 3 years when things were hot. They are accepting anything now. So much for appraiser shortage.

 

[ucbruin]

Can we admit that there was an appraiser shortage during 2020 and 2021....

 

[J Grant]

Can we admit that there was an appraiser shortage during 2020 and 2021....

No, there was not an appraiser shortage; the problem is the supply of appraisers is not elastic; it stays relatively stable within a 5-10 year period, but volume can rise and fall sharply - thus relative to the volume, there is not "enough" appraisers in a busy time and " too many appraisers in a slow time.

Newbies, everybody, take note, the actions of Fannie and Freddie on res end introduce MORE supply on the appraisal coverage end, (even with the same amount of appraisers ) This means, relative to work volume, there will not be as big an unbalance in busy times - there will still be too many or enough appraisers even when volume expands for the following reasons:

1) Waivers/value acceptance replaces a percent of appraisals. Unknown the total percent since they keep changing the charts and basis for it, but it varied over the past several years from 15% to 40%. Let's say that waivers settle in at replacing 20% of all appraisal volume. That is a significant amount of order displacement. Even 10% would be a significant amount.

2) CDC collectors ( non appraisers inspection ) means the appraisers doing the desktop portion can churn out more volume, either as a fee appraiser or on staff, thus reducing the number of available orders. What percent of these hybrids/bifurcated appraisals will replace traditional appraisals where the appraiser inspects? IDK, the trend is still gathering momentum. Let's say, just for a prediction, 15% of all orders. Between hybrids and waivers we have a combined reduction of volume of 30% of all appraisal orders.

Thus, it is even worse in a slow cycle, and even in a busy cycle, everybody is less busy. Combine that with the AMC domination of large amounts of volume in many regions, and somebody explains to me how this is in any way, shape, or form a viable career choice now for a res-only license ( a few niche areas or niche expertise aside ). Any private work or quality lender work not ordered through an AMC is assigned to experienced appraisers already on a panel or who are established in that niche. Idk why any newbie would continue in this path unless the want to join the management side, which has few openings and most chief appraisers at an AMC or lender have an SRA -