This will have the effect of helping drive those AMCs like SettlementOne to a fair model, or impact their service so badly that the lenders working with them drop them and go to the better AMCs.

Like many, I paid dues to become a candidate for membership into the Appraisal Institute. After thousands of dollars in course fees and dues I learned that is the biggest joke I have ever had played on me! If you are paying dues to this organization you should know that “if they are your friends…no need for enemies!”

It seems that as an independent fee appraiser we really do not have ANY friends or support in this industry. Honestly….YOU ARE ON YOUR OWN!

Three days ago I went with my son to protest his property tax assessment. When he bought his home the appraiser did a good job. That appraiser is a friend of mine but he added his E&O policy and every AMC type of addendum known to man! His jeans must be worn out at the knees! I Like him but what a w**re! We got the assessment dropped over !0,000. That is what mattered!

looks VERY familiar, doesnt it?

Your numbers jive somewhat with Wayne’s. I’ve seen reports that there are approximately 80000 distinct licenses with only 40000?? Showing up thru GSEs

No offense taken Wayne, but I will add to your math the following. Per the collateral underwriter portal, I believe I saw where big brother government shows only 50% of all licensed appraisers have submitted work through their system. Either by choice (civil use work only, part time, licensed but no practicing, etc.), I think in reality the actual number of working residential loan appraisers is much lower.

well, something is certainly going on isnt it?

especially when an appraiser would get fined heavily, charged with a CRIME, (a misdemeanor), probably blacklisted for life, etc., for doing ONE appraisal without a license.

BUT, when an AMC, (yes – bank), operates without a license, damn near NOTHING happens. question – how many appraisals did the AMC’s mentioned in this article, work on without a license? 100? 1000? 10,000? how long did these AMC’s illegally practice for? months? years? not hard to guess that it was more than a ONE TIME event.

i agree – NOBODY is looking out for appraisers, and NOBODY has their best interests in mind. NOBODY. and i dont care what ANY of them pretend to say. what is being said to appraisers faces, is clearly different than what is happening behind their backs.

The U.S.Valuation Profession Fact Sheet Dec/2016 indicated a total of 73,731 actual appraisers. This report indicated 51% of these to be doing residential appraisals. The Texas Real Estate Research Center did a survey a while back that indicated that 1/4 of appraisers were refusing to work with AMCs. Using very inaccurate math it appears that 51% of 73,731 appraisers are doing residential work. That would equal 37,603. Based on the study only 1/4 of those do AMC work, would equal 28,202. I understand the math is not exact but I also know that many of those who are licensed/certified are no longer working in this business.

I was asked to speak before a group of our appraisal board a few months ago. I was told by several of the group that they were “required” to order appraisals thru a management company! They really believed that and appraisers need to know that is what is being promoted to these folks. Where in hell is our appraisal organizations….you are paying dues for what? Appraiser organizations, Expos, Coaches, News letters, etc. are just a waste of the money you will need for retirement! Wise up!

Back to the point…if only 28,000 or so appraisers are feeding the AMC parasites all across the U.S. it would seem that the AMCs are in a pitiful position. I know they send us emails every day wanting us to accept their work. Not sure who the SOB in our area accepts work from them but I assume they are starving. Do now know why as I inspected eight properties on Monday!

We will not get any help from our government, unions or appraisal organizations. All we have to do is stop working for AMCs and they will become a fond memory. This is an individual thing…do not have to ask permission from anyone…just stand on your on two feet!

Bubba Jay that’s because we appraisers can’t donate tens of thousands of dollars to these legislators that are making up the different laws between appraisers and AMC’s. Plus I don’t know why bother to call them AMC’s they should be called Banks cause that’s who owns most of them (larger ones).

and someone who is unlicensed, and did an appraisal, would be penalized;

§30-38-15. Penalties.
(a) Any person engaging in real estate appraisal activity in this state who is not licensed under this article is guilty of a misdemeanor and, upon conviction, shall be fined not less than five hundred dollars nor more than one thousand dollars and shall be ineligible to obtain a license for a period of one year from the date of his or her conviction of such offense:Provided, That the board, at its discretion, may grant a license within a period of one year upon a finding of extenuating circumstances, and after an administrative hearing.
(b) Any person acting or purporting to act as a certified real estate appraiser who is not certified under this article is guilty of a misdemeanor and, upon conviction, shall be fined not more than two thousand five hundred dollars or imprisoned in the county or regional jail for not more than one year, or both.
(c) If any person receives any money or the equivalent as a fee, commission, compensation or profit by or in consequence of a violation of any provision of this article, he or she shall, in addition to the penalties prescribed above, be subject to a penalty of not less than the sum of money so received nor more than three times the sum as may be determined by the court, which penalty may be recovered in a court of competent jurisdiction by any person aggrieved as a result of any such violation.

WOW – looks like some pretty stiff penalties for an individual who does an appraisal without a license in Virginia!
BUT, unlicensed AMC’s get “disciplined”, (whatever that means, no fine mentioned though), are ALLOWED to keep their licenses, and appear to receive a fine only because the “discipline” was not reported.
(am i reading this right?)
seems VERY hypocritical for someone to constantly tell appraisers, day after day, that “they” are looking out for them, then to have appraisers find out one day that they are not, and are instead working for someone else.
“Clearly they have not learned from their mistakes.”
Well golly gee – i wonder why?
shame, shame.

Thanks for the encouraging words Wayne, but my comments leaned more toward the serious side than the silly side. The numbers I presented are only mind boggling because nothing was done on day one, day 60 or day 2,555. In this case the word nothing means lenders have been given a pass (wink wink). Would it have been news if lender A was fined $600,000 (60 days at $10,000) because they failed to meet any of the four standards (C&R) as outlined within Dodd Frank on the first enforced case (C&R fees)? In the days of billion dollar fines (a few years back), a $600,000 fine would have gained no mention publicly, but on day 61 I would almost guarantee lenders would have raised the appraisal fees a few hundred dollars. Oh to dream.