Where are the orders!

[J Grant]

Technology giveth and taketh....

Technology is a tool to be used by humans as any other tool can - a hammer can be used to drive a nail into a board to finish a beautiful home, or it can be used to strike a blow and kill someone.

The same with tech- only a larger scale. In the hands of the corrupt or profiteers playing with OPM ( taxpayer money), safeguards are needed.

 

[ucbruin]

Technology is a tool to be used by humans as any other tool can - a hammer can be used to drive a nail into a board to finish a beautiful home, or it can be used to strike a blow and kill someone.

The same with tech- only a larger scale. In the hands of the corrupt or profiteers playing with OPM ( taxpayer money), safeguards are needed.

My response was aimed more to George's post above mine....
Because of technology, the powers that be were able to "track" appraisals that were impossible to track 20-30 years prior....

 

[George Hatch]

First off, most low cost appraisal fees in a metro will involve local appraisers, not some appraiser crossing state lines. Secondly, how does anyone go about demonstrating that a low cost appraiser with a license and even just 5+ years of experience is obviously unqualified to appraise an SFR or condo? You might be able to demonstrate that all or most of them are not performing to their competency but you can't prove they don't know how to appraise that property, which that's the applicable benchmark for engagement. Meanwhile, one function of QE requirements and testing is to demonstrate the applicants' exposure and familiarity with the material. Not to mention how long various lenders have been accepting and using appraisals from these folks over the years. How do you guys intend to overcome the existence of that evidence? Because these are the arguments we can reasonably expect these lenders to make.

----------------------
Secondly, have you guys thought this through? Enough to take under consideration the law of unintended consequences of some of these suggestions?

If 2 appraisers are (first) considered by the lender to be "qualified" for an assignment and a lender (subsequently) chooses the lower fee then that is not a violation of the law because they already formed their opinion about "qualified" prior to comparing any fees. And that process is especially not a violation when considering the effects of the feds' official interpretation of C&R. All the lenders need to do is demonstrate that they had reason to believe the appraiser was qualified and that such fees exist in the market. Ironically, that means that every example of low fees that you guys send in adds to proving that case.

Proceed if you want. Pile it on. I'm not trying to talk anyone into inaction or submission. I'm just suggesting that it would be foolish indulge in the idea that the lenders won't respond in the completely predictable manner. IMO your interests won't sell. I think appealing to the consumer's interests as Baggott just did is a far more effective and persuasive argument.

 

[Zoe]

Say I can accept it if you pay me what is being disclosed on truth in lending disclosure to the borrower.

Please respond within 24 hours.

My schedule is busy. I need to work it in as soon as possible for the lender and borrower.

 

[David S]

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.

Our industry is down to the hill. Everyone shall be prepared: the fee is going lower and lower....

 

[Zoe]

You really don't know how nasty I can get OP.

I haven't emailed CFPB again yet. I will. I like Chopra. He went after some of these folks. He aint done yet.

 

[Zoe]

I will cc whitehouse when I email CFPB again.

They will know where the email came from.

They know where to find me.

I will be waiting for visit.

If they give me heads up, I can serve a little refreshments.

Compliments of public trust to authorities.

 

[David S]

I recently bid on an exterior appraisal at a low fee for me at $425.
I haven't heard from the AMC. Nothing on the status. Very rude.

Last week, I got an 2055 for $475 due to rural area. But once I am done before I submitted the report, system changed to $375. I complained it to AMC contact person how can you revise the fee after I am done. They changed back $525 for me now. Smile.

 

[OSU Beavers]

Sales are at their lowest level since 1978. Nobody is refinancing at these rates and only loosers are getting HELOCs.

Foreclosure work will not start until after the election thanks to Biden's moratorium.

 

[Dublin ohio]

Sales are at their lowest level since 1978. Nobody is refinancing at these rates and only loosers are getting HELOCs.

Foreclosure work will not start until after the election thanks to Biden's moratorium.

At least my clients that are doing HELOCS are ordering a full 1004