They misrepresent and don’t pay. Avoid at all costs!

Hey Dave…what about Norman, Hubbard??

THEY WILL NOT/ARE NOT GOING TO PAY YOU, DO NOT CONTINUE TO DO ANY WORK FOR THEM,

I AM A PRIOR EMPLOYEE AND HAVE FIRST HAND KNOWLEDGE

CJK and Baggins spot on… Great points. Now add this one to the mix. Fannie Mae is so brilliant that the forms via the certification require inspection of the subject and comps. However for anyone covering GATED RESTRICTED COMMUNITIES your not getting into those communities for photos… So does that mean you orphan what the actual market does due to access and this insane NO MLS PHOTOS allowed. Nope, you override the stupid certs per your USPAP requirements and put in an commentary. After all are you not being hired for COMPETENCY vs. Fries with that form…

Lastly another very weak point on the Alphabet Condition rating field.. With the market run up many will see developers put in crap for components I mean basic stuff. So you get a comparable that is not a C1 like the subject but a C3 and if you actually DO YOUR JOB and see THERE IS A SUBSET of requirements for this field beyond the MERE C1 OR C3 adjustment (meaning updates) one can see a C2 OR C3 at times actually superior to a C1 due to this subset. Try running that one by the AMC’s and the Lenders they are like DEER IN THE HEADLIGHTS. Oh that is not possible. Sorry but yes it is, just because it’s new does not mean automatically its better. But hey for all those Appraisers RIPPING OUT PIZZA’s nationally you can thank them for this as they just do the bare minimum and along comes any appraiser actually doing their job and YOUR DONE, you don’t fit the mold, you don’t fit in.

Bottom line is UAD and the AMC’s have boxed the appraisers into a corner (the experienced ones that actually care about doing a decent job) not the daily dough maker doing volume and using Alamode and Spark (and never even reviewing the dam data but only saying huh, I’m done it’s from public records and or the MLS so I’m done here, next, next, next). Not picking on Alamode as ACI does it and others to follow.

TURN TIME IS KING and nobody cares!!!

You have 48 hours from the inspection to finish, so if you do the report on a thursday or friday and your a family guy you either using Alamode and Spark to have a life and contributing to the problem (I get it you have no choice or do you) which is going to be 36 hours very soon now as I’m already hearing that creep into my markets.

So there is no way in hell appraisers (to defend those using Alamode and Spark) can live up to this utter nonsense without saying FLIP IT, to keep up.

Math model
24 hours in a day
– 8 hours of somewhat of a life and sleep
= 16 hours to turn a report

48 hours turn time
-16 hours (sleep, somewhat of a life)
= 32 hours to turn a report

These figures do not include other job functions including using the restroom or pouring a cup of coffee and or seeing your neighbors leave for work and then come home while you type up to and past midnight.

Profession is dead… GET OUT.

Jaded Appraisers One Stop Shop

Shane Copeland walked away free as a bird from the Loft fiasco and probably thinks he can talk a walk away from this one as well.

https://stockhouse.com/companies/bullboard?symbol=v.cly&postid=29657154

Marion your stealing my material! I said that months ago on another post! Joking it’s nice we think along the same lines! I haven’t worked with AMC’s for years! They are all the same it’s just whether you prefer dog poop or cat poop

So true. Sadly there are a lot of appraisers that are working for Clarocity for free as well. With all the warning out there, it truly amazes me how they can lookup and have no clue what is going on around them.

LOL Thanks for the giggles.

It is amazing how many appraisers worked for Brian Coester for free, he was just a slick talking dweeb who walk away with all the cash. It appears he has started a new company with the appraisers money. Some people just need a good ass whooping. This is why I do not work for AMCs.

582 Banks imploded since 2007.

AMCs should be close to that number now.

Marion. Absolutely Marvelous idea. And it should be a very public friendly lender accessible site. A place where Appraisers can balance and report honestly the Snow White business practices and red roses images AMCs portray to their clients.

Waged bets would be easy earnings if even half of Coesters clients knew or were warned in advance of the shennaggin being played on them and Appraisers.

The intimidation factor is too high these days for that sort of effort. Back in the day we could complain about the individuals, then call the better ones sitting next to them, so much of that all went public.

These days if you have conflict with the amc, you lose the entire body of mortgage people for that bank, and all the other banks the amc may work with, along with all future opportunity for banks the amc may cycle through. And they share lists and then generate lists which lenders may then distribute to the next amc.

Truth is, the amc process is so veiled in secrecy behind some informational iron curtain, we really don’t know what they’re doing except what we can infer from their process shortcomings.

Maybe, Appraisers should have one for AMCs.

For the stips, that’s fun to talk about. It’s checkbox review based on risk profiles which are related to the funding entity, lenders internal policies, and robotic review returns through both their internal or third party web platform, as well as the alert returns the underwriter may deal with after submission. Through the entire process until the magic moment of final submission with all review parties, they all can have varied review point stringency setting options they control. Stand in the shoes of an underwriter to better understand the process and lift this false narrative illusion that only third party management companies are qualified to navigate this, links provided.

That’s where the rubber hits the road and all of this comes together, is understanding that regardless of how an appraiser approaches reporting, there may simply always be some measure of push back or request for further clarification as the various review parties seek to either bolster total loan package and process credibility through application of additional manual underwriting review scrutiny, or alternatively just apply a higher standard, sometimes unusually high, if the buyer may be on the edge of qualification in the first place or for some other reason. On a related note, FHA just issued a proclamation of increased manual underwriting, so hopefully that keeps slightly more full service appraisals in our hands without them being allowed to be scooted over to the risky waiver and hybrid programs.

Do you ever feel like sometimes you just can’t do a good enough of a job as an appraiser, no matter how hard you try? You’re not alone. Mortgage lending appraisers are operating in the dark if they don’t have a good framework understanding of all these issues. Betcha a pepsi and ten bear skins you can’t find a regular clerk at an amc that understands all of this or read even a portion of it.

Fannie QA on CU risk scores;
https://www.fanniemae.com/content/faq/collateral-underwriter-faqs.pdf

The eligibility matrix;
https://www.fanniemae.com/content/guide/selling/b3/1/01.html

UCDP user guide… Every appraiser should at least have reviewed this once;
https://www.fanniemae.com/content/guide/selling/b3/1/01.html

Another shorter UCDP results guide. If they get a return, you get a stip. Also most of that if not more is part of the manually defined checkbox review options for lenders through their third party distribution and order management platforms.
https://appraisalnewsonline.typepad.com/files/ucdp-user-guide-fannie-mae-messaging.pdf

FHA newsletter on manual underwriting recently;
https://www.hud.gov/sites/dfiles/SFH/documents/SFH_FHA_INFO_19-07.pdf

Just for kicks quick reading on the manual underwriting process;
https://www.hud.gov/sites/documents/FY16_SFHB_MOD4_UNDER.PDF

Now raise hands if you think non licensed people can handle all of this and our duties as appraisers can really be boiled down to relying on dirt cheap bottom dollar third party information while providing quality reports in a fraction of the time at a discounted rate, and possibly going over the edge with outsourced typing services, non licensed inspection runners, etc. Some appraisers whom have already gone with those programs have really increased their exposure. We’re entering the end of the pump phase after a long blow up of the real estate market. Guess what comes next.

He had another request on the same day, subject and all comps are two-stories with unfinished basements. AMC reviewer wanted to know if he considered these other properties. My buddy called the reviewer and asked if he even bother to look at the properties before he sent the request, considering they all had finished basements. The reviewers response was “put a comment in the appraisal.”

In Colorado, anyone can fail a complaint against any appraiser for any reason. So, can an appraiser file a complaint against an AMC for being utterly stupid?

Nope. The consumer is still harmed if there is a financial incentive to drive their fees up, and the appraisers fees down. COD +, assuring cost plus, otherwise; fail. COD alone is not the solution, the amc issue is bigger than just reliable check streams for appraisers.