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With the slow down.

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workinglate

Thread Starter
Sophomore Member
Joined
Oct 6, 2008
Professional Status
Certified Residential Appraiser
State
Utah
WIth the slow down in the market I have hit the pavement so to speak and have been out marketing hard. One thing I have been running into alot is the third party order issue. Companies say they go through company ABC for their appriasals. The whole Third party thing. Can some one fill me in on that?
 

workinglate

Thread Starter
Sophomore Member
Joined
Oct 6, 2008
Professional Status
Certified Residential Appraiser
State
Utah
That was alot to take in. I am still kind of confused. So its not a done deal yet?

And for the record I agree they should not get part of our money.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Not a done deal, but with consolidation and declining work, all the larger lenders are using AMCs. Also, the brokers often have to use the AMCs of the funders for their loans. Finally, why should ABC bank add you when they can't keep their usual appraisers busy?

That's just the nature of the market.
 

workinglate

Thread Starter
Sophomore Member
Joined
Oct 6, 2008
Professional Status
Certified Residential Appraiser
State
Utah
That is what I am seeing. They dont want to add anyone they cant keep the ones they have busy. So it comes to the guys working part time on the list and the guys that work full time and are not on the list. Lame but a fact we live with.
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
CS said, That is what I am seeing. They dont want to add anyone they cant keep the ones they have busy.

Yeah, those AMCs, just trying to keep bread in the mouths of appraisers, they always have the greater good in mind in their heart of hearts.

I think the AMC model has definitely been described on this board as,
"Cheaper/Faster, Damm the torpedos!" (As a case in point, I told an AMC
that the subject property for a FHA had illegal uses....so what did they do?,
they re-assigned it to an appraiser out of the area....or someone who would
be willing to 'get er done').
 

The Warrior Monk

Moderator
Staff member
Moderator
Joined
Mar 30, 2005
Professional Status
Certified General Appraiser
State
New York
WIth the slow down in the market I have hit the pavement so to speak and have been out marketing hard.

Are you marketing your services, or are you selling someone else's services? In the current market, most lenders are not interested in adding trainees to their list.

One thing I have been running into alot is the third party order issue.

It has been my experience that local lenders are not going the AMC route; they are ordering in house. Interestingly enough, work from local lenders has picked up in the current environment. The reasons for this has to do with the fact that several are portfolio lenders, and they are still lending, while others aren't. These lenders do expect compentency, and you have to prove your worth. The days of filling out an application and getting work immediately are over.
 
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