I was a mtg broker for 12 yrs before I got licensed for appraisals and we use to collect $125 for appraisals & $25 for credit reports at time of application, now ? We’re screwed.

I’m ready for an investigator to come look me up. I don’t give a crap anymore. My license isn’t worth s*h *I*t.

Boilerplate form letter with mandatory PR ‘feel good’ bill ‘goals’ cited. EJB Great job!

Member Allen shame on you! This is SERIOUS! It deserved more than a form letter from an aide. Hopefully your electorate will keep their eye on you more closely than you seem to be keeping an eye on this bill.

“quickly” is not my obligation. I reserve special turn around time accommodations for highly valued, regular customers. Not those that want to nickle and dime me over fees or send me email blasts. When and if I can deliver a product in 3 to 4 days I do so. If the assignment requires 10 to 14 days for any number of reasons then THAT is how long it will take. Not counting the appraisal which is ALWAYS ordered at the last minute the typical conventional loan app takes 20+ days to fund. Lenders have a choice. Wait to the last minute to order the appraisal so no one pays appraisal fee for a loan that will be denied for other reasons; or they can have appraisal ALL done by 20 days. Order it when escrow is opened!

Trevor I often work in Los Angeles. Its more than 45 miles from my area of Long Beach to the San Fernando Valley area of L.A. City. On a good day that’s an hour and 15 minute drive. In rush hour its 2 hours. Each way. MY minimum fee for a non complex “nothing special” assignment out there is $600…though I usually try for $650 and have turned less down depending on cash flow trend at any given moment. I also collect a check at the door from the owner or non loan client OR they can deposit it direct to my bank account before I go there. If its complex or high end figure $1,000 to $3,500+-.

Any AMC I associate with can also do the same thing to get me paid as fast as I insist. (One actually does). How much of your difficulty relates to AMCs falsely telling the appraisers they cant ask for more money do to TRID? I’m may be difficult to work with in terms of no tolerance for idiotic stips or revisions requests, but if you ever have to go to court and rely on my report; or have me testify, there are few that are better. You tend to get what you pay for. In Idaho, Florida, DC or Cali,

Dustin, did Trevor get in touch with you about doing appraisals in Driggs, Tentonia & Victor?

Hi Trevor, did you reach out to Dustin Harris and Gena Howald?

Rick W. Allen 12th District, Georgia
Committee on Education and the Workforce Committee on Agriculture
Congress of the United States // House of Representatives // Washington, DC 20515″ 426 Cannon House Office Bldg Washington DC, 20515

Dear Mr. Brown:
Thank you for contacting me with regards to S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act. I appreciate hearing your thoughts on this very important issue. As you may know, S. 2155 seeks to reform regulations for smaller financial institutions and provide consumer protections for veterans, senior citizens, and victims of fraud. Additionally, this legislation aims to promote economic growth in rural communities. On March 14, 2018, the Senate passed S. 2155 by a vote of 67-31. This bill has now been sent to the House for further consideration but it has not yet come to the floor for a vote. Rest assured, I will continue to closely monitor this situation and I will be sure to keep your thoughts in mind should I have the opportunity to vote on this legislation.   As always, I appreciate your thoughts and look forward to hearing from you in the future.

No doubt about that. Moody’s just last week downgraded the credit quality of RMBS”s (residential mortgage backed securities) that have “hybrid appraisals” as valuations for the collateral within the bundled securities. By the way, to any one of you all out there that are doing these “hybrid” pieces of excrement … shame on you. You are part of the problem, and you are actively participating in the destruction of your own field. Stop doing them! They will go away if no Appraisers do them … unless of course you actually like being paid $50 to $75 for an “appraisal”.

Well Carl, not true about non-rural appraisers not caring. I work in the metro-Detroit area which is primarily suburban and urban, but I also work in some rural areas. 67% of Michigan is classified as mostly rural or totally rural per census data. I have emailed both of our state Senators on this matter. This is something that affects us all.

Not true about non-rural appraisers not caring. I work in the metro-Detroit area which is primarily suburban and urban, but I also service some rural areas. 67% of Michigan is classified as mostly rural or totally rural per census data. I have emailed both of our state Senators on this matter. This is something that affects us all.

The only system that works at present that protects the borrower, lender and Appraiser is the VA rotation panel.  The only solution I have thought of is to Federally mandate that each State establish and maintain a panel copying the VA model for ALL GSE work.  Credit Unions and others would be exempt.  AMC’s are redundant on day 1 and Appraisers can all work together for a change to establish consistency in reporting and adjusting.  It’s got to happen because what we have now is nothing but a cash grab by the AMC’s who are making $Millions with no disclosure.  It’s redunculous.

Eric, How do you get the lenders to get rid of the middle man when they the lenders own, in some cases, the AMC’s?

Have you tried reaching out to appraisers that are not on your ” approved appraiser” list? That maybe your problem if you have not. What efforts has the bank done to recruit more appraisers? You can easily find appraisers on the ASC roster in your area and probably with the state licensing board as well. Reach out to appraisal groups in the area.  Most appraisers would love to work directly with a bank and avoid amcs.

Tristar bank in Tennessee has filed for a waiver stating there is an appraisal shortage. There are numerous appraisers that reached out to Tristar stating they cover the area. Tristar informed those appraisers they were not accepting new appraisers for their roster…Make sure your bank is not creating a self inflicted problem.