Agree, we have numerous appraisal groups around the country. We need to stand up as a solidified group. We should have AI’s support.

There are laws. Junk fee. Unearned fee. and other.

It’s just they were written before the proliferation of amc’s.

Amc’s are doing what would otherwise land mortgage bankers in handcuffs.

The whole thing is a fraud.

I do no work for AMC’s. Enough work in estates and property settlements, working for attorneys.

Only going to stop, when laws are passed and state appraisal boards make a stand; and if nothing else, we keep hammering the state boards. Get enough of them together and the whole nation will hear us and change will come.

Live in a small area. Most of my fellow appraisers, would vehemently object to the appraisal board; the minute they found out. We are supposed to be the boots on the ground, and experienced eyes to observe. This cannot be replaced by an inspector, no matter what anyone says. Ever inspected a property and then read the home inspection report. Comparing their observations to yours? Amazing the difference what the experienced eye picks up compared to the novice.

This whole thing is a joke, and as we all know; it’s just another way for the banks to charge the buyer $750 to $1,000. Pay the inspector $50 to a $100 and the desk appraisal person $100, bank netted $550 to $800.

This is not going to stop, unless laws are passed to prevent this.

I agree stop accepting low fees! I refuse to get out of my PJs for less than customary and reasonable fee in my area it’s just not worth it! Slippery slope my friends

Good point! Have you ever seen a third party doing home inspections and the licenced inspector gets paid 1/3 of the fee?

Amen! Nothing going to happen, until the Congress, looks at this whole mess, and does something to put an end to this nonsense. The old way worked rather well. We all for the most part made a decent living. Today the appraisals take longer and for 25 to 50% less money than 2007 and 2008. Makes no sense. I no longer do any work for AMC’s and still have work at full fees.

I have never been prouder of you in my life.

Oh, I know this one. It’s the hard money vs soft money argument. Out of pocket vs financeable costs. If one looked at what people are really paying for representation on a 30 year amortized scale…

My vote a long time ago was to either allow the appraisal into soft costs or force the agency into hard costs, providing a necessary correction to the consumers ability to bargain and relieving a lot of pressure on the appraisal which is never allowed to be a soft cost or financed away like nearly every other cost involved which still falls under soft costs.

Coach makes excellent points.

Amen! SnapVal them instead of us why don’t you? We’ve been squeezed dry!

Why is the appraisal fee the only fee used as the bargaining chip? Why not the home inspector fee, the surveyor fee, the termite inspector fee, the lender’s processing fee, title fees, commission fees, etc.?