Comments on: USCRAP – Systematic Destruction of Residential Appraising

By: Diana

Diana — Wed, 27 Jan 2016 17:36:22 +0000

Over ten years ago I predicted that the machines would take over our business, Orwell predicted the rise of the machines and Big Brother in 1984, so I guess we got a few more “good”years. 🙂

By: Tom D

Tom D — Wed, 21 Jan 2015 14:50:24 +0000

a shame you didn’t have this prophesied 30 years ago. i could’ve been a happily retired city bus driver with a pension. so much for life choices.

By: Retired Appraiser

Retired Appraiser — Wed, 21 Jan 2015 00:52:45 +0000

Half the fee, twice the work, and ten times the liability!
It’s pretty sad when the government has to step in to retrain street walkers (which is precisely what CU is all about.

Look at the bright side. When the government has finished reinventing the appraisal profession you’ll all be as slick and adept as Gigolo Joe in Spielberg’s film Artificial Intelligence. Unfortunately, you can also look forward to being scrapped every time a better model comes out just as Gigolo Joe & Gigolo Jill were.

By: Baggins

Baggins — Tue, 20 Jan 2015 18:55:06 +0000

The consumer has been stripped of their benefit of free market systems. Cost savings are never returned to the borrowing consumer, but rather are held as variable opportunistic profit from amc’s. Providing a financial incentive for amc’s to drive down appraisers fees. Mysteriously; junk fee and unearned fee rules don’t apply to the amc’s. If lenders created a surplus like this, and did not return it to the consumers, it would be called a junk or unearned fee and be illegal. Appraisers don’t need unions. We need for middle management companies to be paid separately in escrow accounts, so that it would be illegal for them to drive down appraisal fees for variable opportunistic profit. Consumer charges go up, appraisers fees go down, and amc’s create more new jobs at the expense of the appraisal industry. I took one amc order all last year at $495, but I fear this industry is headed south even faster, in 2015. The fault rests on the mortgage banking systems for purposefully trying to eliminate the checks and balances function of the appraiser. There is no appraisal group, union, or organization that can stop this financial pressure on our fees. However, a simple rule that amc and appraiser fees can never be co mingled, will stop a lot of this external pressure applied by these new monopoly enterprises (amc’s), who have cornered and constrained the appraisers free markets for clients. Lenders could better control amc engagement and force this separation of fees, but they choose not to. The latest extreme blow for appraisers was the illogical decision that amc fees did not need to be disclosed on the closing documents as it’s own unique charge. I’m still optimistic though. That’s why I bank at the credit union.

By: danny

danny — Tue, 20 Jan 2015 18:04:52 +0000

that sums it up to a tee. what a fiasco things become when politicians and lawyers start sticking their noses into free enterprise.

By: bubba jay

bubba jay — Tue, 20 Jan 2015 17:24:44 +0000

LMAO! yeah, that about covers it.

By: Jack Schlenk

Jack Schlenk — Tue, 20 Jan 2015 16:34:08 +0000

My FannieMae Certificate of Completion

This certifies Jack Schlenk has successfully completed the course:

“Understanding the CU Risk Score, Flags, and Messages”

December 21,2014

I hope the reader(s) read all of the data in my reports.

By: Bryan

Bryan — Tue, 20 Jan 2015 16:04:56 +0000

Wow. You should quit. Maybe start an AMC that cares.

By: Appraiser morons

Appraiser morons — Tue, 20 Jan 2015 16:04:42 +0000

Nobody is listening.