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How can we receive adequate compensation.

I am pretty sure the consumer does care. I dont think it is a far stretch to say a consumer would not quite understand why it woud cost $200.00 to order an appraisal. The consumer might just say " ...

Replied Nov 30

Solidfi

I currently have two lenders that use Solidifi. I find they are one of the best AMC'S out there. From what I am told they charge a seperate fee for their services - $45.00. I get paid my normal fee...

Replied Oct 12

AMC split needs regulated...AMC who pays full fees....

Good luck. The biggest AMC's are all lender owned by the biggest banks. They have too much power and way too big a lobby to allow any regulator to take their profit. The banks will simply charge th...

Replied Oct 9

AMC fees

eAppraiseit was WAMU's AMC of choice. They were one of the worst as far as appraiser pressure to hit the number. They were the original target of New York AG Cuomo.

Replied Oct 7

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kevin malesis replied to Keith Smilon's discussion 'How can we receive adequate compensation.'

on Monday

kevin malesis replied to dwaine Daugherty's discussion 'Solidfi'

I currently have two lenders that use Solidifi. I find they are one of the best AMC'S out there. From what I am told they charge a seperater fee for their services - $45.00. I get paid my normal fee of $450.00 for a 1004. I never get hassled on a ...

October 12

kevin malesis replied to Keith Smilon's discussion 'AMC fees'

eAppraiseit was WAMU's AMC of choice. They were one of the worst as far as appraiser pressure to hit the number. They were the original target of New York AG Cuomo.

October 6

kevin malesis added a discussion

Moratorium on HVCC

There is a house bill in committee at this time to impose an 18 month moratorium on the HVCC. HR 3044 currently has 99 cosponsors and was introduced by The National Association of Realtors. A good place to follow the bill is www.govtrack.com. Goog...

October 1

kevin malesis replied to Keith Smilon's discussion 'How can we receive adequate compensation.'

It seems to me most AMC's require a short turn time by the appraiser due to their own ineptness in ordering the appraisal on time, having quality control go over it and then delivering it to the client. When the AMC takes a week to even place the ...

October 1

kevin malesis replied to JOSEPH LABUE's discussion 'ARE LENDERS IN VIOLATION OF HVCC?'

Not much we can do. We have actually talked to a lawyer regarding forming a union. The short answer is it would be illegal as independent contractors to do that. I know some appraisers in New Jersey are attemping to join an existing union. No idea...

October 1

kevin malesis replied to JOSEPH LABUE's discussion 'ARE LENDERS IN VIOLATION OF HVCC?'

I got put on Flagstars suspended list because they used AVM's to do reviews. I actually had to explain to Flagstar than when doing a no bank waterfront home on Puget Sound in WA state you actually have to use comps that are also waterfront. One mo...

October 1

kevin malesis replied to JOSEPH LABUE's discussion 'ARE LENDERS IN VIOLATION OF HVCC?'

When the New York AG Cuomo came up with the HVCC all of the big banks, and therefore their AMC's were at the table. The HVCC was a settlement to get Cuomo to drop litigation and threats for more investigation into bank accounting and more specific...

October 1

kevin malesis replied to Randy Bennett's discussion 'Are mortgage brokers still allowed to order none USDA or FHA appraisals directly from appraisers?'

Brokers can still order appraisals directly if the loan is not being sold to Fannie or Freddie. I have brokers sending loans to ING and some local portfolio lenders. They do not follow HVCC as they do not sell to Fannie or Freddie. I am pretty sur...

October 1

kevin malesis replied to Keith Smilon's discussion 'How can we receive adequate compensation.'

The AMC will tell you what to charge. If you have accepted appraisal assignments for $250.00 from an AMC you have now set the market for what a typical appraisal costs. The AMC can simply say " the typical cost for an appraisal in this area is $25...

October 1

kevin malesis replied to Randy Bennett's discussion 'Are mortgage brokers still allowed to order none USDA or FHA appraisals directly from appraisers?'

brokers are still allowed to order appraisals directly for FHA and USDA appraisals. This will end January 1, 2010 for FHA, no idea for USDA

October 1

kevin malesis replied to Keith Smilon's discussion 'AMC fees'

There is nothing you can do about that. The fact you and many other appraisers have accepted $190 for an appraisal means you have now set the market for what a typical appraisal costs. Wells is being sued along with most other lenders with their o...

October 1