Help Wanted
…fee is non-negotiable…
Real Estate Appraisers
REQUIREMENTS
Active appraiser license, preferably certified, a computer, appraisal software, MLS, E&O insurance, dependable vehicle, camera, smart phone, a background check (by us) because the one your state requires every year is just not good enough and good communication skills (see smart phone requirement).
JOB DESCRIPTION
You will be responsible to perform valuations subject to 30 pages of requirements set forth in the engagement letter. We will require availability always to answer our redundant calls and emails.
Special note: if you live in ND and have a license in GA, TX, and NJ you qualify for our special desktop hybrids and never have to visit a property site again.
Using your smartphone, assignments will be broadcast at fees WE determine acceptable for the area. The fee is non-negotiable as we have included our special fee in addition to your fee and cannot go back to the lender/client for more money. All jobs will be bid out to our panel of appraisers and those who accept the assignment first will get the order (so make sure you are quick and have that smart phone or tablet with you at all times to accept the orders).
On occasion, we will ask for a fee and turn time to build an AMC C&R survey. Jobs are assigned to the lowest fee and fastest turn time submitted to us. You don’t have to be located near the subject property but reports are required within 48 hours. Nearby proximity to a subject property and expertise are not important factors.
Upon completion, please be available at all times to answer superfluous stipulations to meet UAD or address all value reconsiderations or sales sent to us by the lender, realtor or any party that believes your opinion of value is not high enough.
COMPENSATION
DO NOT INCLUDE INVOICE WITH APPRAISAL REPORTS. We do not accept invoices this way by our team members. Upon completion, we will send you your payment in 30-days or more, depending on your state AMC regulations and rules.
COMPANY MISSION AND VISION
Our mission is to maintain infinite client satisfaction.
If you feel that you can meet the job description, send your resume, three sample appraisals, your driver’s license, bank account info, credit check and health history.
AMC
Unintended Consequences, USA
- Look in the Mirror - February 27, 2023
- AMCs Take a Sizable Cut of the Appraisal Fee - October 5, 2022
- Proposed Rule to Eliminate C&R Fee Tabled - July 21, 2022
ain’t it the truth!!
unfortunately, this tongue in cheek article is so very enlightening about the current situation in the lending industry
Or how about this scenario: You accept an assignment for a final inspection of new construction and the builder requests a 48 hour delay. You get the report finished after driving 45 minutes each way and discover your env software subscription expired HOURS ago. Then Sh*thead AMC cancels the order with no consideration. Happened yesterday.
Technology is just making things more complicated and time consuming. I have an env i’ve been trying to upload and the lender is saying the MC form is not being uploaded with the report. It is checked and you know everytime I have to stop and try to upload the report it is literally 30 more minutes
I wish I was younger so I could find a new career because after 26 years, this one is in the toilet.
I’m with you on that one
Have you heard the one about demanding a four year degree and 2.5 years of apprenticeship training for the possibility of being added to an appraiser panel (6.5 years), only to learn that when you get to the end the powers that be moved up the finish line by four years (lower entry standards)? I don’t want to ruin the punchline, but lets just say that after your 6.5 year journey, your reward might just be a government sponsored appraisal waiver.
Seek the truth.
My favorite is references. When an underqualified non licensed person calls another underqualified non licensed person, to discuss the merits of your licensed qualifications. Zinger! You can’t make this up. It’s funny, and sad, because it’s true. What’s your fee and turn time?
Bill or the one that actually happened in 1989 when the TAF and federal government established standards that did NOT require a degree but merely demonstration of adequate experience and passing a half day test for licensees and a full day test for certified appraisers. Then much later AQB gets a wild hair causing so much discomfort that only a college degree would fix it.
Raising entry standards and then partially reversing that increase is not a practical net lowering of anything. What the requirement for a college degree originally did was to highlight that either the TAF /AQB original requirements at the height of repercussions over the S&L crisis were either half assed and poorly thought out, or they were when the entry reqs were “raised.” Why have a test if they admit is isn’t adequate to screen unqualified people out? Someones getting paid for doing something they failed to do!
I get it Mike. My point was that although most people seem to find this career later in life, some have made it a goal out of high school (recent). Those wanting this profession in 2014 (certified) are perhaps set to graduate this year (in debt $$$), only to learn with a change in policy that a graduating senior today can perhaps become certified in 1.5 years. Policy changes have real world consequences, but the powers that be could care less about the impact.
Seek the truth.
I know, Bill. Personally I don’t think any state has any business certifying an appraiser with less than three years experience. It erases any distinction between certified level of competency vs a license or permission to practice (and learn). People are different so I suppose it is possible in 2 1/2 to 3+- years too but at two or less years there is no way an individual could gain enough practical experience in the field to be considered for certification.
Ten years later, I might actually know what I’m doing lately. Still not sure… According to the people I work with, I rarely do it right.
Question for all you fellow appraisers and please try to stay on topic. Are you seeing a trend of your appraisal being handed out to everyone after completion. I am starting to see a trend in realtors on both sides of a transaction calling to ask for certain additional information or having questions about my appraisal. I have been responding with a reply that my report was completed sole for the client. Is anyone else seeing this trend. Apparently my reports are being distributed to everyone and this needs to stop asap. Do I notify the client, report the realtors who are doing this or what steps should I take? My reports have specific verbiage but obviously no one is actually reading the entire report or taking this seriously.
Oh sure, everything in the process is breaking down. That’s because the intermediary ‘middle men’ whom are tasked with ‘separation from loan production’, don’t have a clue what proper process or advisement is. And now it’s been a full 10 years with MB’s and appraisers no longer to effectively communicate about proper engagement and confidentiality issues. The traditional ethic now only exists in us individually, the institution as a whole has abandoned those notions by forcing licensed people to work with unlicensed people. There was far more accountability when a licensed appraiser dealt with a licensed mortgage broker, and there were none or far less overhead expenses for assignment practice either.
Report to who? I reported something to my state Real Estate Commission about an agent. The something was my report came in under contract price and the listing agent called the buyers lender, which happened to be a gov agency, and complained about my report. The RE Commission stated nothing was done wrong and that the agents are just trying to do what’s best for their clients. Oh yea, as for the sale the seller came down and the buyer came up to an agreed upon price and viola you got value.
That gov agency had my report reviewed and what do you know they stated they could not find anything wrong with my report. Not those exact words, but you get my drift. Glad to say that after 10 years they are still sending me work.
It’s only a matter of time before non licensed appraiser panel managers get to flex an amazing bias against appraisers through proprietary confidential FNMA systems, if they’re not doing that already which I believe they likely are. Whom has an inside lender connection whom can verify they are or are not able to put commentary, grading, or have some effect on the appraisers virtual credentials from within the special access confines of the FNMA CU system?
Baggs – *S* You must be clairvoyant. Heard from one just this morning. Should make for an interesting next couple of weeks.
I told a manager off a month or two back, suddenly no traction. Email me with details please. How does it work exactly, the informational flow, what is there, what is not, do lenders now go somewhere other than just the ASC website to verify appraisers credentials? Does one lender have the ability to influence other lenders decisions regarding individual appraiser choices in secret, unbeknownst to the appraiser? If we’re talking repeat events, they’re likely passing lists again. If FNMA is giving them that opportunity…
Its all in how it is worded Koma. “The following agent and broker violated appraiser independence requirements of Dodd Frank in inappropriately attempting to coerce or intimidate me into revising my opinion of value.”[IF you want to pursue it; and especially if it was turned into a state appraiser complaint] “As a result of your agency’s inaction I am filing a complaint with the state Auditor (or Inspector general). There is a difference between legitimate advocacy for their clients interests and prohibited practices under both federal and state regulations.
‘Further, I will be filing a formal Suspicious Activity Complaint (SAR) with FinCEN against the lender involved for their part in the prohibited actions. I’d never misrepresent a complaint to a state agency but neither would I count on them to ‘find’ the violation on their own. Spell it out for them the first time around and word it (truthfully) so that it is an unavoidable issue for them. cc Local MLS (if they shared mls data with bank), Banks regulatory agency, CFPB etc.’
Obviously It has to be specific to your case circumstances . Its frustrating to be brushed off like that. Don’t be discouraged. Just keep doing the right thing.
Thanks Mike! For the example and for the support. I had never had this happen before and it took me by surprise. It did not go to the state, but the fed agency that was the lender had my reports reviewed by their chief appraiser for 6 months. For that I did not mind because they had that right and I do what I’m required as an appraiser.
Yes, its the new intimidation tactic…or increased use of the old one. Just saw a letter from attorney to Guild member saying the SELLERS sustained losses due to a low appraisal which THEY appealed. Bank then ordered new one from “You Name It Valuations, & picnic supplies” out of Crooked Creek.
Seems odd banks lets sellers that never paid for the appraisal appeal so the buyers can complete purchase of their over priced property. Fraud’s running rampant again. Fueled by loan officers and crooked agents.
Institutionalized advocacy on behalf of vested interests. Betcha a hamburger that lender does not have salaried based loan officers. Latest FHA newsletter had link to the quarterly and yearly lender penalties, via federal registry. Some fines in the millions, no wrong doing, no admission of guilt. Fines based on income is obviously necessary, the cost of prosecution likely dwarfed the penalty amounts, amounts so low at times, lenders swat them off. And tens or hundreds of millions penalties, nobody goes to jail or is held personally accountable? Yes it’s true, they get away with it with no fear what so ever of personal prosecution.
https://www.gpo.gov/fdsys/pkg/FR-2018-04-25/pdf/2018-08669.pdf
Appraisers should read Assumptions & Limiting Conditions #23 on the GSE form.
I put this is all my reports now.
The intended users of this appraisal report are the lender/client. No additional intended users are identified by the appraiser. This report contains sufficient information to enable the lender/client to understand the report. Any other party receiving a copy of this report for any reason is not an intended user; nor does receiving a copy of this report result in an appraiser-client relationship. Use of this report by any other party(ies) is not intended by the appraiser.
Still there seems to be a recent trend of everyone involved in a transaction are looking over my reports. The pendulum is definitely swinging to the other side of the spectrum
Death by underqualified non licensed management. We usually have to babysit the ‘managers’ these days.
Here, do you think they’re qualified to interpret this? Click on the publications link…. Oh billy, I’m serving it up today.
APPRAISAL ADJUSTMENTS SCORING SYSTEM AND METHOD
Sorry, publications tab. Click on the publications tab for the above link. There is a whole string of these, but this one was a good landing point.
Here, feel free to review any of the numerous patents FNMA has been getting into of late. FNMA patent list.
http://staging.patentbuddy.com/PatentBuddy/Company/Profile/FANNIE-MAE/61740
Now these amc guys, what’s your fee and turn time. You can’t have an informed conversation with them about this content, certainly not, they’re never qualified. And that’s why you take auto underwriting risk kickback very seriously and you delay everything else if necessary to fix up your digi-risk, if you run across that.
Baggs its your first one that is a smoking gun read the description
http://www.patentbuddy.com/Patent/20150302419 – Patent is for AN APPRAISAL REVIEW by any accepted definition today. Not exactly consistent with all their pre 01/15/2015 claims at all.
If they are rating the quality of our specific adjustments then they are conducting an appraisal review. My only question is do we file the state complaints for the 30 million non USPAP compliant appraisal reviews in Texas or Washington DC, where their headquarters is?
Sorry Mike………nice try, no cigar. FNMA & FrMac can do anything they damn well please…………because USPAP does not apply to them, i.e., doing ‘reviews.’. They can build and apply any kind of review system they want.
Dave, What on earth makes you think USPAP does not apply to them? USPAP is a provision required under federal law (FIRREA) for appraisals performed in conjunction for federally regulated transactions…which by definition includes the GSEs. I Guarantee neither Texas nor DCs appraisal laws say “Everyone who performs appraisals or appraisal reviews for regulated transactions must be licensed …except FNMA.”
CU stopped being a simple QC or risk rating algorithm. It has become an outright review and appraisal rating system with appraisers being put on watch lists or exclusionary lists as a result.
We haven’t even touched on AIR DF violations BY FNMA! For too long appraisers just accepted that because FNMA is the one buying the loans that whatever they say goes. Does anyone seriously believe they aren’t doctoring the quality of many of the bundled securities they are selling?
FNMA does their auto review and when they type in the address of 67% of the properties appraised multiple appraisals pop up $180,000 to $220,000…which one do you think gets selected?
What’s the size of their human review staff today compared to 2 or 3 years ago? 1/10th?
Article worthy. Let’s unpack this on a larger scale. Thank you.
Mike…I would invite you and everyone else to open their copy of USPAP, and read the first sentence on Page 1. But to save y’all the trouble, it says USPAP establishes “requirements for appraisers.” No one else is mentioned. Plain and simple………..appraisers must comply with USPAP. No other entity is mentioned or included.
Therefore, the various electronic review programs that have been developed by all kinds of entities have no obligation to follow provisions of USPAP.
Once the appraisal report leaves our possession, i.e., transmitted to the client, we have no control of what is done with it, how it is used, or who it is given to.
Appraiser’s Certification #23 ended that report ownership perception in 2005 when the forms were redone.
Dave my respected friend, it’s a case of not seeing the forest for the trees.
FNMA has in house appraisers. It also has an automated process that performs the same function (appraisal AND appraiser quality reviews). It’s bound by FIRREA too.
USPAP doesn’t set state or federal law for appraisers. FIRREA did that. FNMA IS an entity engaged in FRTs. I think we are in agreement there.
The rationale for my claims are in USPAP 2018 definitions page 3, lines 59 through 84.
When CU started it was defined as a process for risk rating elements of an appraisal. It was a pretty marginal exemption or carve out even then. Many opponents claimed it WAS an appraisal review. FNMA side stepped it. FNMA insisted it was not an appraisal review or appraiser rating system (old patent). Now (Oct. 2015 patent) it is a specifically patented process TO review the quality of appraisers work; AND to rate the appraisers overall work quality; complete with penalties for bad ratings. It’s their own words Dave.
They can call it AQM all they want but when AQM adopted the processes that are currently used in FNMA CU 3.2 (and newer versions in the pipeline) it crossed over from being some kind of purely automated internal AQM to being outright appraisal reviews. FNMA even calls them appraisal reviews! FNMA further advertises 100% Reviewed reports now.
So next weeks task is merely to see what DC and TX laws say. I have a pretty good feel for what’s in Texas regs but need to check DCs too.
Mike, Class action !! All 30 million of them. We all know that we are required to those standards of USPAP, the AQB and a few more.
What is fair for us is fair for them. Just Saying.
Closer and closer.
Above link no longer worked. They adjusted the landing page.
Fannie Mae, Patent Owner, Washington DC
Appraisal adjustments and scoring system method, new link. They changed the landing page.
http://www.patentbuddy.com/Patent/20150302419
Hate to have to say it, but we sometimes are our own worst enemies. I’m on an AMC panel just to see what’s going on and had a 1004 contract for sale come in at a fee of $315 when the rate in that area is $450-$500. Someone accepted it and how I know is my “fake” bid was $320 and it did not come over to me. If it did come in I just call them and say I accidentally accepted it 🙂 with a middle finger. I know it’s your business and do not know your what your situation is but come on. What I gathered too is a neighboring state this AMC also does business in has mandatory C&R fees and when that law passed they cut my state fees (no C&R fee) by $150 for a 1004 and $100 less for a 2055. Coincidence I THINK NOT!
Robbing Peter to pay Paul, hands in the cookie jar. Improperly co mingled fees, restriction of the market and participating vendors, extortive practices. For a while many of them tippy toed around C&R, but they don’t even bother recognizing that anymore, and fall back on the safe harbor rule, that if you accepted it, it meets the definition of C&R. That’s the problem with the pure market competition model. If there is only 1 appraisal, should that only cost $1 dollar? If there are a thousand appraisals, should they all cost a thousand dollars? Recognized reliable standard fees matters a great deal. If they don’t present a standard minimum fee, I continue to market until I find a distributor whom does.
https://www.thefreedictionary.com/extortive
AMC’s do not give a reasonable amount of time to do a proper scope of work on any project. Want an answer in an hour or you won’t get the assignment. VERY BAD BUSINESS PRACTICE !!
Assessment of subject property and comparable properties is a learned art, that no one in the AMC’s gives a hoot about.
Guess what folks, there is lots of work out there for Certified Appraisers and not from AMC’s. Law firms, tax appeals , estates, divorce’s and many more.
My advice to everyone and diversify, and quit the AMC’s as I did. Then you go back to being independent.
For the first time in years I updated some amc profile data and went back to active status. Within a day I had my first ‘fee and time quote’. Asked about the details, how many other appraisers, do you assign directly, etc. CSR assured me just checking with a few to get a feel. Then next Monday, the same quote request same property, different customer service rep. Hold on, you’re not testing the market for information, you’re fishing. So I jumped back to marketing immediately, i’m a fee appraiser not a free appraiser. Told them to please consider my fee quote permanent, no need to email and fish for better terms, the terms are non negotiable; Assign me the order directly at the $x fee and 1 week turn time minimum. If they want me to provide appraisal services, I’ll need an actual order to do so. I’m not in the business of guestimating how low I can go to win the assignment. They keep the difference, so I’m not going to participate in the whom can bribe you the most for the order game. Ethics in billing.
Contrary to what Baggins claims….this “profession” isn’t even worth the liability you incur for beer money.
Check this out, I just retired too. It was this empty house with only a mirror at the end of a long hallway. Estate related. I tried not to look in the mirror.