Comments on: The End of AMCs? https://appraisersblogs.com/wells-fargo-inflated-appraisal-fees Appraisal News and Tips for Real Estate Appraisers Sun, 11 Feb 2018 05:33:22 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Baggins https://appraisersblogs.com/wells-fargo-inflated-appraisal-fees/#comment-15383 Thu, 10 Nov 2016 02:39:17 +0000 http://appraisersblogs.com/?p=12801#comment-15383 If they were not offshoring the majority of the risk via fdic and taxpayer backing for the next inevitable bail out or bail in, they would have no problem writing off the appraisal as a legitimate business expense. More reasons to wind down FNMA. It is relieving that junk fees are still not allowable for bpo’s, but the class action suit is missing the presence of about 80,000 residential appraisers, or there abouts. The 50m equates to a sliver of allowable business expense write offs and nobody will even get probation.

]]> By: Dan https://appraisersblogs.com/wells-fargo-inflated-appraisal-fees/#comment-15369 Mon, 07 Nov 2016 22:20:35 +0000 http://appraisersblogs.com/?p=12801#comment-15369 In reply to Jeanie.

I think they meant BPOs. Per the article the actual cost was $50 or less. Had to be a BPO!

“You gotta keep em separated!”

https://www.youtube.com/watch?v=GT10OV8NRAM

 

]]> By: GAPeach https://appraisersblogs.com/wells-fargo-inflated-appraisal-fees/#comment-15368 Mon, 07 Nov 2016 22:05:20 +0000 http://appraisersblogs.com/?p=12801#comment-15368 One more reason to separate the appraisal fee and AMC fee on the HUD-1…but who’s listening

]]> By: bill johnson https://appraisersblogs.com/wells-fargo-inflated-appraisal-fees/#comment-15367 Sat, 05 Nov 2016 03:54:00 +0000 http://appraisersblogs.com/?p=12801#comment-15367 In reply to Jeanie.

If the powers that be don’t understand that only an appraiser can complete an appraisal, then how are they ever going to solve our lengthy list of issues? A BPO, a zestimate, a value pushed out via an AVM, an agents opinion, etc., is NOT AN APPRAISAL. This information has been picked up by many outlets, and to those who only read the headlines, they will falsely see appraisers, inflated, and overcharge. We didn’t do the work but our profesion will get the blame.

]]> By: Jeanie https://appraisersblogs.com/wells-fargo-inflated-appraisal-fees/#comment-15366 Fri, 04 Nov 2016 21:40:06 +0000 http://appraisersblogs.com/?p=12801#comment-15366 “Among those services are Broker’s Price Opinions (“BPOs”), which are informal appraisals that Wells Fargo ordered when borrowers went into default on their loans.”

Informal appraisal? WTH is that?

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