Did you ever hear of a company called XAIO? Clarocity’s ‘relationship’ / ties to XAIO should be all anyone ever needed to know about them.

I don’t see this whole fiasco as the AMC’s fault, although many are arms of lenders (Corelogic) I see it as greedy bankers and mortgage brokers doing, as well as our ELECTED representatives who first instituted Dodd Frank. It’s always about the money. Amazing the attitude post – Savings and Loan crisis of the early 1990’s vs today; we are no longer, in their view, needed. Nothing has changed about the nature of credit or lenders, yet greed has been taken to new levels; cut out the only non-biased entity in the equation.

Prepare to place one’s head between ones knees.

Hopefully only a couple more for me. I’ve had it.

JW – MOST used to do just that. The problem is twofold. (1) The administrative overhead and personnel costs are through the roof (compared to AMC costs); and (2) the mythical firewall between commission staff and appraiser is harder to pretend when the appraisers are in-house. Plausible deniability also disappears when the appraiser is on staff.

Banks have become used to eliminating that overhead. Just like they eliminated tellers by using deposit machines. They may go to platform management systems but don’t anyone be fooled into thinking there is any independence with those either. The lenders get to populate their own panel appraisers. They’ll be able to dump appraisers from it without the appraiser ever being the wiser.

When lenders outsource appraisals to independents, while simultaneously avoiding the use of amc’s, it’s the best of both worlds from an appraisers perspective. What makes you think having a lender as your boss directly will provide you any relief?

Expect these exception numbers to jump substantially when the demins are raised. FNMA makes it easy for lenders to bypass traditional and logical checks and balances requirements.

Day1 Certainty Overview

Banks will now have commissioned staff doing the evaluations. Bank managers. Parking lot attendants, receptionists. Whoever is handy. They MAY use AMCs and I hope that if they do NOT ONE appraiser will buy into the crap. WHY undermine our own profession?

As for helping anyone set up to do these. WHY?  “I’m sorry Mr. Banker, I’d love to help you out but I honestly don’t know what the local boards policy is with respect to third parties that want mls access and to be able to share it with other people that may not be board members.” PS-“Good Luck!”

THEY changed the rules of the game.

its happening

You know that never stopped… Dang, had not looked at that in quite some time… It’s different, but it’s still there.

https://ml-implode.com/