Exactly !!

Or stop shopping around for the lowest fee! I submit my fee then two days go by nothing. The third or fourth day arrives and what do you know they have accepted my fee, but guess what now I’m out 7 days and your now at the bottom. Lenders WAKE UP!

Welcome to your future if your local MLS approves the Corelogic Matrix MLS program.  Resist the Matrix!!!

The ship has sailed a long time ago retired , it’s not gonna come back.

Managed healthcare is the only thing that comes close (think Humana).

Both the healthcare model and the AMC model narrowly escape being defined as extortion by incorporating the Robbin(g) Hood twist.  “We protect one group while collecting our fees from the potential abuser”.  Both models fall under the umbrella of legalized extortion.

Neil Young hinted at the future of appraising (AVMs) nearly four decades ago with his song Sample & Hold.

Thanks for the update Bubba!  This is great news by the fact that it may finally awaken appraisers to the future of appraising (there is no future in appraising).

Ignorance is bliss though as tens of thousands appraisers will ignore your update and continue to toil away within their tiny cocoons. It’s only a matter of time before they realize their cocoons are death traps.

You can leave now appraisers (voluntarily) and with a few cents left to your name or you can be kicked out of the business by AVMs penniless.  The choice is yours.

The fees are 99.9% of the problem.  I would jump back into the “profession” and swim across the river Manure on a daily basis like the rest of you IF fees were commensurate with what is now required of appraisers.  Considering the increased liability (10 x) and the amount of time now required to complete reports (2.5 x) fees should be at least $800 for a simple 1,000 sf home.  AMCs could tack on $25 for broadcasting their orders if they wish.

People will put up with a great deal of crap in their jobs IF they are paid for doing so.

TBT I just completed two appraisals and both were under size (GLA 1,000 sf +) than what was listed in the public records and have not had an appraisal within the last ten years. Let them lend using AVM’s because we cannot be blamed for the next coming disaster. I will sit back and watch the burn and switch back into doing all the foreclosures on those properties that had AVM’s…ching…ching

I partially agree with you, Micheal. Creating large appraisal firms was the response appraisers had for lenders that wanted to work with fewer appraisers. This business model allowed appraisal firms to “court” their clients. No doubt appraisers are to blame for some mistakes. But, your overall conclusion is like the kid being bullied for several months and when he finally fights back you blame it all on the kid for fighting. Lenders are “supposed” to do whatever it takes to maintain the integrity of collateral and a very large portion of this nation’s economy is hanging on real estate. There is overwhelming evidence that it’s about the lenders creating a system to make a profit off regulation that they are required to adhere to. Instead of them paying for their expense, they pay for it from appraisers fees and even make a profit.

The most blame I have for appraisers is assisting appraiser “want to be’s” in getting their license fraudulently. Signing experience logs that were totally bogus. In Los Angeles, it has created a huge oversupply of appraisers allowing lenders to dictate fees. Maintaining an oversupply of appraisers is what the lenders want. That’s why they support doing away with the degree requirement. And finally and sadly, I just learned yesterday from an office Xmas party that the lenders that are offering these quick, ten-day approval loans, are using the AVM’s from Corelogic, based on a “confidence” score to determine the value of the property.  

Yes you are correct , any appraiser that thinks otherwise has fools hope.

agree. i challenge anyone to read this article and then try to convince me that “the industry” wants to keep the appraisal process in the mortgage processing loop.

(Click on pic)

http://www.housingwire.com/articles/38437-why-does-it-take-so-long-to-close-a-loan-appraisers

this article makes it very clear, they want appraisers out BAD, and they will eventually get their way. the first step of not paying appraisers appropriately (R&C) for the work and liability involved, and slowly bankrupting appraisers businesses, is working flawlessly.

They never wanted appraisers in the first place. They just want a rubber stamp.