Tagged: fees

Valuation Partners & Schizophrenic AMCs vs. Appraisal Professionalism 23

FTC & REVP vs LREAB Bombshell

Like many other appraisers I received a copy of paperwork filed in conjunction with the Louisiana Real Estate Appraisers Board / FTC and Real Estate Valuation Partners (REVP) aka Valuation Partners. (Thank you VaCAP!) To me it’s a bombshell, but before I go into the story of who did what to whom, and for how much let’s start off by asking all readers to click this link to see who the players are. Even if you read the article elsewhere please read the following link. Got it? Great. Just so we are clear, one of the Chief players appears to...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Tristar Alleging Appraiser Shortage, AGA Opposes Appraisal Waivers 10

AGA Opposes Appraisal Waivers

Letter outlining the American Guild of Appraisers position in the national precedent setting matter of granting appraisal waivers for TriStar Bank in Dickson County TN. …this type of waiver is an outright invitation for fraud… December 8, 2017 RE: Tristar Bank, Dickson, Tennessee-Appraiser Waivers Request 11/20/2017 Dear R. Park The American Guild of Appraisers opposes the above referenced appraisal waiver request on behalf of our appraisal members and our more than 13 million taxpayers, consumer members of our parent unions. Tristar bank cites an absence of certified general real estate appraisers in their home office county (Dickson) as the basis...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisal Subcommittee / Appraisers News

Alternative Evaluations... Good or Bad 10

Alternative Evaluations… Good or Bad

All of these "alternative evaluations" are an attempt to reduce the fee of the appraiser… All this talk about alternatives to a full appraisal needs some common business sense added to the conversation. At the end of these comments I will include some of my background and you can make your decision if you think I am qualified to put my 2 cents in this discussion. I have said this before and I will say it again, the lenders (AMC included) just want an Appraisers signature and their E&O insurance with a value and they want it as cheap as...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / E&O

Alternative Hybrid Reports, Finding a Solution By Working Together 22

Solution for Alternative Reports

Lenders are having a problem finding enough appraisers to fulfill the number of ‘alternative’ reports… This is my follow-up to the previous essay about FIVE different types of ‘hybrid’ reports. You need to know some background about why I’m writing about this. I’m acquainted with a highly skilled appraiser/instructor of 40+/- years in the trenches. I had the pleasure of meeting this appraiser in glitter gulch in 2008, again in 2013, and we have stayed in touch over the years. I greatly respect this appraiser’s opinions and willingness to contribute cogent remarks in-person, when teaching, and via various forum posts, etc....

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Software / Appraisers News

Portal Fees Disclosure & Complying With the Intent of USPAP 16

Portal Fees

Should you disclose portal fees… Appraisers, Some of you know that I have written numerous times about my viewpoint that disclosure of the ‘back end’, and sometimes 'front end' portal fees we appraisers must pay to deliver a completed report to a particular client should be disclosed. You don’t have to report the FEE, only that you had to ‘pay a fee’ to obtain the assignment. If you don’t pay the fee, you technically cannot complete the assignment. My viewpoint has always been, and will remain, that if you cannot technically ‘complete’ an assignment without paying a delivery fee, then the net...

Appraisal / Appraisal News / Appraisers News / ASB / The Appraisal Standards Board / Uniform Standards of Professional Appraisal Practice

Salary Range for Real Estate Appraisers in the US? 29

Average US Appraiser Salary

Are you curious about the salary range for appraisers in the United States? Click this link for info on salary ranges for Real Estate Appraisers. Rising fees across the country has fueled the growth in appraiser income. That’s a good thing! Why should we be the only ‘workers’ to have their income potential held down by lenders who don’t want to pass on true costs of doing complicated appraisals to their bank clients – the actual mortgage loan consumer – while EVERYTHING else has increased? Thankfully over the past two years that has changed, as most appraisers across the US...

Appraisal / Appraisal News / Appraisers News / The US Department of Veterans Affairs / Trending / VA

AMC management fees exceeding the appraiser’s fee more frequently 40

AMC Fees Exceeding Appraiser’s Fee

AMC management fees exceeding the appraiser’s fee more frequently Over the past year, the AMC industry growth model – taken from the backs of residential appraisers – has been broken by a growing number of residential appraisers that won’t accept fees below the custom & reasonable rate. So in order for AMCs to grow revenue, appraisers are seeing their fees surpassed by the AMCs themselves. In other words, hiring the valuation expert – the whole point of getting an appraisal to begin with – to make less than the company that manages them. We hear the GSEs and lending industry...

Snippets / Trending

Bid Request to Find the Lowest Bidder Coming Soon to Mercury Network 61

Let the Bids Begin!

Bid assignments are more often than not awarded to lowest bidders… For the past couple of days, we have been hearing rumors about Corelogic beta testing a “Residential Bidding” system for Mercury Network. It is no longer a rumor. It will be launched in late August. It did not take Corelogic long, after it acquired Mercury Network, to implement some changes. The bidding system will allow their customers to request bids from multiple appraisers. They claim that this feature will help their clients find an appraiser faster. Yet, will this be the primary reason it will be used? Based on...

Appraisal / Appraisal News / Appraisers News / Trending

Metro-West Solicitation Blast & Appraiser's Response 48

Appraiser’s Response to Metro-West

Metro-West Appraisal, thank you for your bulk email solicitation… I will consider accepting work from you on the following basis: My minimum fee for non complex FNMA guideline compliant SFRs is $550 (net). There are no exceptions. Any upload fees or other forms of service charges  or ‘convenience’ fees will be added to that fee. I do not accept or authorize discounting of the fee for any reason. The premium or surcharge for property with a transaction amount or other characteristic that requires completion by a certified appraiser, is a minimum of $250. However the final bid will depend on...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News

Flagstar Bank Eliminating Use of AMCs: Direct Vendor Appraisers Wanted 29

Flagstar Bank Eliminating AMCs

Flagstar Bank’s Direct Vendor Appraisers Appraisers, I have just learned from reading a forum that Flagstar Bank is doing away with the AMCs they use, and bringing appraisal ordering back in-house. However, you must agree to this: PLEASE NOTE: We only pay via ACH (automatic deposit twice a month on the 1st and 15th) so your bank information is also mandatory. There are no other payment methods available at this time so if you prefer not to use automatic deposit we unfortunately cannot add you to the panel. Also effective July 24th, 2017 there will be a click fee charge...

Appraisal / Appraisal News / Appraisers News / Trending / Uniform Standards of Professional Appraisal Practice / USPAP

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