Tagged: R&C Fees

Texas AMC survey 2

Texas Appraisers and AMC 2015 Survey Report

The Texas Appraisers and Appraisal Management Company 2015 Survey Report In January and February 2015, the Texas Appraisers and Appraisal Management Survey surveyed a total of 1,421 Texas appraisers and 55 appraisal management companies doing business in the state of Texas. The questions in the survey were specifically designed to achieve the following: Clearly distinguish between the fees paid to appraisers by Appraisal Management Companies (AMCs) and fees paid by non-AMC clients for residential appraisals. Capture any difference in fees paid by property type: single family, condominium, size or square footage, or other factors. Capture the impact on fees by market area...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Virginia Enacts Law on Reasonable and Customary Fees 8

Virginia Enacts Law on Reasonable and Customary Fees

Virginia Gov. Terry McAuliffe on March 23 signed into law S.B. 1445, which requires appraisal management companies operating in the state to compensate appraisers at a reasonable and customary rate. The legislation gives the Virginia Real Estate Appraiser Board authority to take administrative action against AMCs not paying appraisers customary and reasonable fees in accordance with federal law. Prior to enactment of the legislation, Virginia law already required an appraiser engaged by an AMC to disclose as part of the appraisal report the actual fee they were paid. In 2014, the Virginia Center for Housing Research and the Virginia Tech...

AI / AMC / Appraisal / Appraisal Institute / Appraisal Management Companies / Appraisal News

I Did Not Quit when HVCC, UAD and CU Came Along. I Do Not Quit, Not Ever - Imagecredit Flickr - Andew Hurley 11

I Do Not Quit, Not Ever!

I Did Not Quit when HVCC, UAD and CU Came Along. I Do Not Quit, Not Ever! I do not quit. Not ever. I have a different perspective based on lifelong lessons from my father. I did not quit when a lost helmet in the last play of the season made it painful to block during high school football. That effort got me my school letter despite being 3 quarters short. It was worth the headache. I did not quit Boot Camp in 1969 when at 129 pounds and six feet, very few thought I’d make it. To this day I...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Collateral Underwriter

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AMCs to Pay Appraisers C&R Fees

Call to Action in Support of Virginia Senate Bill Requiring AMCs to Pay Appraisers C&R Fees Appraiser Colleagues, Finally, you have an opportunity to get what you have been screaming for: customary and reasonable fees for your work. On January 23, 2015, Senator Martin offered Senate Bill NO. 1445, requiring appraisal management companies to pay appraisers customary and reasonable fees. The bill mirrors the language in Dodd-Frank. A copy of SB 1445 as introduced is attached. Please contact your legislative representatives in support of this important legislation. VAR’s support will be important to the success of this bill. Please include VAR...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Some good news for a change 2

Some Good News…For a Change?

Some Good News…For a Change? – 2nd Annual List (A Work-In-Progress) Last year, around Thanksgiving, I had put together a list of some positive things going on for appraisers. It was/is all-too-rare that we hear positive news regarding the appraisal profession. There is an awful lot of complaining that goes on, most of it justifiable, but little good news that gets shared. Part of the problem is that there is no central source for information regarding our profession which appraisers might utilize in order to find out what is going on across the country and affecting our profession, and could be used to...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Virginia Study on Customary & Reasonable Fees for Residential Appraisals 1

Residential C&R Fees Study in Virginia

Virginia Study on Customary & Reasonable Fees for Residential Appraisals BLACKSBURG, Va., Oct. 7, 2014 – Virginia Tech researchers and students conducted a survey of Virginia residential real estate appraisers to analyze the patterns of fees earned in 2013. Prior to the release of this report, no data existed that defined “customary and reasonable” residential real estate appraisal fees in Virginia. This report is the third report of its type to be conducted in the United States, and the first in Virginia. The research was conducted in response to recent amendments to the Truth in Lending Act modified by the...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Utah Study on Customary & Reasonable Fees for Residential Appraisals 0

Study on Customary & Reasonable Fees – Utah

Utah Study on Customary & Reasonable Fees for Residential Appraisals An online survey of both Utah mortgage lenders and Utah licensed and certified residential real estate appraisers was conducted to discover customary and reasonable fees for residential appraisals throughout Utah for 2013. Federal regulation pertaining to customary and reasonable fee studies specifically “excludes compensation paid to fee appraisers for appraisals ordered by appraisal management companies.” Therefore, this study does not include appraisal fees paid by appraisal management companies to Utah appraisers. Two surveys, one for lenders and one for appraisers, were prepared to capture the unique demographic and background information...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Customary & Reasonable Fees

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Appraisal Fee vs. the Cost of Gas

Let’s compare the average appraisal fee to the cost of gas during the last 20 years. One of the requirements of your job as an appraiser is getting to the property to appraise it. Unless you are appraising a property within a few blocks of your own house or office, chances are that you will be driving there. Today, the costs of driving — higher gas prices, higher insurance premiums and higher maintenance costs — have gone through the roof. This got me thinking: the cost of almost everything that we, as appraisers, need to do to successfully perform our...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Customary & Reasonable Fees

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You Are Being Robbed Blind

You Are Being Robbed Blind (24 Hour Membership Deadline) AMCs are concealing their profits within YOUR appraisal fee, and using coercion to drive down YOUR income as far as they can. This government-permitted process allows them to rob you blind while building their appraiser-squeezing power even stronger. NOW is the time to take a stand to fix this broken industry and the career you have spent a lifetime building. The Appraiser Prosperity Coalition was formed to fight for the legislative and regulatory changes needed to save this devastated industry. If you are willing to join us today, we can defeat the...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Customary & Reasonable Fees

Customary but NOT Reasonable Fees 28

Customary but NOT Reasonable Fees

REASONABLE needs to become the appraiser’s operative word Appraisers, It’s time to grow a pair as some people say, or to stiffen the backbone, and quit caving in to the low ball fees being offered by some in this crazy “industry.” Another true statement is “you are what you are worth”. If you, as an business person, only know how to say yes to low fees, you won’t be worth anything higher to the majority of clients. Further, your self image and actual net worth are negatively impacted. You cannot expect to earn a certain income, then wonder why you gave yourself...

Appraisal / Appraisal News / Appraisers News / Customary & Reasonable Fees / Dodd-Frank Act / C&R Fees / Trending

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