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HVCC Appraiser Talkback Survey

Appraisers called the real estate/lending collapse years before it happened, based on what they were seeing- liars loans, inflated values, excessive pressure, an over reliance and misuse of AMVs, but no one was listening. It’s our belief that those “in the trenches” know better than any expert about the health of the profession and, post HVCC, the ability of appraisers to fulfill their role in the lending process. For this reason, and at this critical time, WRE and OREP have established an HVCC Appraiser Talkback Survey to give the profession a voice. To take our survey, please visit http://www.surveymonkey.com/s.aspx?sm=1drQU6WrYbQ73E4wH2vKVw_3d_3d. The results will be published.

53 Responses to HVCC Appraiser Talkback Survey

  1. Joe Blow says:

    Never work for an AMC – they are the “pimps” of the apprasisal business – if your fee is $450 why should they get $200 of that? You are making money for someone you never met in your life – how stupid is that – just say no – also lots of AMC going belly up so they will not be paying you anyways – once again just say no

  2. John McDonugh says:

    I have been an appraiser for 25 years. I come from a family of real estate appraisers. My favorite part of being an appraiser was getting the work from good loan officers that did not give you a hard time when you told them that the value was not there. I had several clients and one in particular that gave me a lot of work. Now that the government and banks have destroyed the appraisal business. I decided to quit working for banks. Nobody remembers how I worked weekends holidays (including xmas) 13, 14 hour days to get screwed. I tried to work with AMC’s but they are nothing but liers & low paying thieves(Appraisal Logistics sucks). The only way to solve this problem is for every appraiser across the country to go on strike!!!!! That will screw the Banks. They would be in deep trouble without us. You newer appraisers need to stop doing appraisers for nothing. Minimum fees should start at 400.00. If any of you appraisers got any guts lets start a strike for 1 month and will have the banks in the palm of our hands. You wanna fix the problem or not? Don’t be afraid lets go to war with these banks and amc’s. Write back to me on my facebook page if you agree. Strike!!!!!! No appraisals for you AMC’s you suck!!!!!

    • Kevin Talbott says:

      A strike isn’t a bad idea, best idea is to just spread the word amongst all our peers. I have tried to do this locally be letting all of the public know my fees. My minimum fee is $400, I get daily requests for as low as $200, how that is legal is beyond me. I refuse low fees, unfortunately not everyone does. If you can spread the strike option set for certain date maybe it can happen. Strike against all low fee AMC’s. We desperately need to do something.

  3. Dave-Kittery says:

    I recently submitted my new fees to one of the largest AMC’s in the country. The area manager e-mailed me and said” I will not accepte your new fees” I immediately dropped them. Today I received an e-mail on a first come first serve appraisal assignment the fee $250.00. What a joke. I recently stopped doing work for any AMC and only accept work from the VA and private assignments which has made my life a lot easier.

  4. Mike in CA says:

    I too am gone after 20 years of building a business. All of my clients are gone…laid off all my staff…lost everything…now looking on how to reinvent myself. I signed up for several AMCs and never received one assignment. Good luck all

  5. C. Kerig says:

    I noticed your recent article commented that Landsafe has greatly increased the fees paid in the Washington State market. This IS NOT the case in the Northern Colorado Market. Landsafe recently sent out their new fee schedule stating it complys with the R/C fees required by Frank Dodd and the fees were exactly the same as what they have been paying and are substantially lower than those a appraiser in this area would charge in the open market.

  6. HALLIE STONE says:

    bLAH!bLAH!

    THE INFLUENCE OF CROOKED POLITICS.
    THE BANKS OWN THE MANAGEMENT CO.
    lOOKS WHO HAS PRIVATE JETS, GOES TO $5000 SPAS. APPRAISERS WORK FOR PEANUTS AND HAVE TO STAY BUSY TO SUPPORT FAMILY. OUR BUSINESS HAS BEEN STOLEN FROM US BY THE HELP OF POLITICIANS TO MAKE SURE THE CASH FLOWS GOES IN ANOTHER POCKET FOR SLUSH FUNDS FOR POLITICIANS. NOW THEY HAVE CONTROL OF THE MONEY WITH HUNGRY LICENSED APPRAISERS AND WE ARE A CAPITIVE AUDIENCE TO WORK FOR NOTHING. LOOK WHAT IT HAS COST US TO GET LICENSES . THESE JERKS HAVE NO LICENSES. VOTE OUT ALL THE POLITICIANS IN OFFICE NOW

  7. TX Appraiser says:

    The pro’s about the HVCC are that I don’t have to chase my money and I don’t have to argue about value anymore.The con’s are that I took an approximate pay cut of 22% for the pro’s.

    I’ve culled the sub-par AMC’s and still do bank business and have gotten my fees up to close to where they used to be.

    My business has slowly come back and I seem to have better clientele after a year of rebuilding my client list from almost nothing.

    I do think that until appraisers start refusing appraisal assignments at absurdly low fees, there will always be bad AMC’s; however, I understand that when your hungry, you’ll work just to keep food on the table. These AMC’s know that and that’s why some appraisers are getting taken advantage of. I also think that as the economy get better and more appraisers can pick and choose assignments due to demand, the cheap AMC’s will raise fees or go away.

    Overall, my opinion is that the HVCC is a positive influence and helped get rid of some of the “yes man” appraisers and eliminated the unethical broker/appraiser teams that were rampade.

    In a good economy the HVCC will be an efficient, hassle-free system for the appraiser.

  8. Is a solution at hand? Check out this link
    http://www.klgates.com/newsstand/Detail.aspx?publication=6554
    or type HVCC into google search and request news from the last week only you will get a bunch of similar pages. What is the general response?

  9. JC in Texas says:

    Just called it quits after 26 years in the appraisal business. Can’t take it anymore. The substandard appraisal fees are an insult to the profession and I refuse to continue working for chicken feed. To anyone who cares….. the profession just lost one of the good guys!!!!!

  10. Oregon CR Appraiser says:

    The PRIMARY PROBLEM with HVCC is the crooked b@st@rds got away with not implementing the Valuation Protection Institute. The Cuomo agreement was a package deal to include a VPI and it would’ve made such a difference! (How have they gotten away with that up to now anyway and what did they do with the $28 million?!)

    What happened to strong American leadership anyway? In the 1990’s, federal government was serious about repairing damage caused by lender/investment greed… not trying to figure out how to give it a good hard kick start! Many realize corporate greed is quickly killing this country and until centralized federal agencies (of all kinds) start stepping up to provide us with better & stronger leadership—we’re all in big trouble. And don’t even get me started about those wonderful national appraisal organizations of ours– what good stewards of our profession they’ve been, right?! (Does the term “sleeping with the enemy” come to mind?)

    Signed, dam tired of getting pushed around in Oregon.

    P.S. GOOD NEWS– Oregon also just passed an AMC Bill and the best part is that Oregon Dept. of Consumer & Business Services will be auditing the bill! Since DCBS also regulates state banking, insurance and other industry AND isn’t timid about exercising authority to protect Oregon citizens— we’re hopeful DCBS will do a GREAT job policing AMC’s under the new bill.

    Attention lenders and your greedy AMC’s— the days of raising Oregon citizen paid appraisal fees to $550 and only paying appraisers $250-325 should be coming to an end. See how you like it if citizen paid appraisal fees go back down to $400-450 and all of it goes to the appraiser; AND LENDERS begin deciding what your lender paid AMC fee will be. =)

  11. John says:

    BREAKING NEWS

    We have driven out predatory lending for the most part. Today we took our first big step in beating out predatory ordering.

    The state of New Mexico has placed some well deserved restrictions upon appraisal management companies. These restrictions are so strict that AMCs should leave the state completely to hunt for heftier profits elsewhere.

    Congratuations appraisers! Your first win.

  12. Andrew's Cuomode says:

    HOW TO RAISE CAMPAIGN FUNDS FAST

    Andrew Cuomo recently reported to have 5:1 more in campaign funds available for the upcoming NY governors election. Let’s take a look at his play book for raising funds.

    I. Speak with larger banks about massive campaign contributions if you can help them to raise a few billion in additional revenue.

    II. Blackmail FNMA & Freddie Mac into signing off on HVCC; thereby forcing 90% of all appraisal orders to go through AMCs.

    III. Revise HVCC to allow for 100% ownership of AMCs by banks after FNMA agrees to it.

    IV. Structure deal to expire at the time of the election so no investigation takes place.

    Benefits To Banks:
    Banks make billions in new revenue off of appraisers (through AMC ownership) . At the same time it puts 85% of their competitors mortgage brokers) out of business.

    Benefits To Cuomo:
    $18,000,000+ in campaign funds and a guaranteed seat in the governors chair.

    Not bad for a putz.

  13. Arkansas Jon says:

    I have an idea since Cuomo is a Lawyer. Lets start an AMC (Attorney Management Company). I can honestly say more people are bent over by lawyers a year than any other occupation alive so this should be fair. The new LCC Litagation Code of Conduct. We will charge a $2,500 retainer in which we will give the attorney assigned to this case $1,250 and we promise 1 week turn around times on depositions, trial dates, and facts of findings. The whole judicial system will be speed up at a record pase. Walk-in Clients will not be welcome anymore contact your local AMC for all your legal needs. Sound fair?

  14. Appraiser Inactive says:

    Want to read an article that will make you laugh?
    TAVMA has written a story stating that AMCs would be forced out of business if they are asked by states to take a pay cut.

    The alternative? Borrowers would be forced to pay more money if AMCs didn’t exist.

    Excuse me…but isn’t that what just happened? I paid 50% more for an appraisal this year and ended up with one completed by a new appraiser.

    Look for the article at this site that has a photo of Dracula.

    http://appraisalnewsonline.typepad.com/appraisal_news_for_real_e/

  15. TOM says:

    HVCC Put me out of bussness,me and the wife moved in to out motorhome,i cancelled all my data networks,e&o not renewing my lic,right now we’re sitting down at the beach enjoying our life,we go where we please,fishing ect..”oh” also filed for bankrupcies,credit cards can kiss my a$$,sold the house as a short sale,and just wainting for the next elections..these morons must go…

  16. Bob Smith says:

    I just got a call yesterday from the appraisal management company of the county’s largest bank/lender. For the first time, they actually told me that they had gotten a quote from another appraiser for a multi-million dollar property, for a fee of $475. What was would be my “best fee and turn time?” This is for an appraisal that I would have gotten $650 for a year ago. I quoted $450–and did not get the assignment. I used to be an independent appraiser. Now I am apparently a serf toiling for the profits of a bank that was subsidized by my tax dollars. Pefect.

  17. Tommy says:

    Another good website to checkout is
    http://www.appraiseractive.blogspot.com. Frank has been very active in Florida, lots of good info. Appraisers need to stand as one on the issues that are reducing this profession to a joke. Has anyone gotten a email from Wells Fargo, if not checkout the blod above for yourself.

  18. Lise says:

    Can someone explain how amc’s can use staff appraisers. Isn’t it supposed to be 3rd party with no direct contact?

  19. David says:

    If we’re talking about an appraiser’s strike…sign me up as well. 859 252-1000

  20. Jaime Hernandez says:

    Michael ( 29 ) il join. im located in NY and my cell number is 646 334 9478

  21. Jaime Hernandez says:

    The appraiser Valuation 2009 conference in New Orleans was a joke. They are not in touch
    with real life scenario when they say HVCC so far gives less pressure and better
    appraisals.

    No one really grasp the true collapse of the industry. lets just chew on this for a
    minute, they say appraisers over valued properties but if thats the case dont the banks
    have appraiser reviewers, managers and underwriting, hmmmm makes you think. The best part
    is the banks are the ones to get most of the blame but the appraisers are taking the hit
    and to make things better sure why not lets give them full control on the industry.
    Its nice having a monopoly these days.

    They say AMC companies will give jobs without favortism lol sorry i gotta laugh to that
    one. The truth is if ur willing to work for peanuts then yes you will be loaded with work.
    Its sad what they have done to the industry.

    All the appraisers were making a decent living until such a ridiculous rule was implemented.
    Its far from a good law if any and makes you wonder on all these regulation boards on what
    they were thinking when passing this law. I think they are hitting the mini bar in their
    rooms before going to the convention.

    Iv’e worked very hard to get into this industry and have sacrified alot and now i have to
    depend on shady AMC companies to supply me work.Most appraisers are not aware that when
    your a minority it’s ten times harder to get work.

    I keep hoping they will be changes that really favor the appraisers but let me not hold my
    breath on that one.

    I will keep it short. Anyone should be able to order the appraisal and the lender should
    have their underwriter, appraisal reviewer and manager review appraisal. If bank feels
    appraiser over valued property then a copy should be sent to the state for review. Thats
    what i call an independent report yet simple and effective.

  22. Appraiser Inactive says:

    No group or strike has been organized. I’ve been advising this action for over a year. At best I’ve located 3-4 appraisers across the country who would be willing to participate. Apparently appraisers JUST LOVE TO WORK FOR AMCS. I’m not which they love the most: Having a master behind them cracking a whip on their backs or giving up 1/2 of their fees. Obviously appraisers are a group that is beyond help. They never fought back when they were told to complete the insane 1004MC for free and they have done nothing to fight against surrendering the majority of their fees. I’m sure this is politically incorrect but I honestly believe that appraisers who work for AMCs are mentally challenged (retarded for those of you who are old school). Seriously…who takes a 50% pay cut and offers to do more work to make up for the loss? Obviously not anyone with an average IQ.

  23. Michael says:

    JJ appraiser has the best comment on this blog! This needs to go down for anything postitive to happen. Stop accepting orders, kinda like the don’t buy gasoline day…only for one month or two. Then we’ll see what these leaches do…ha, ha! Let’s run them out of the industry and make the change…F___’em!

    Does anyone out there know of such a group going on right now, if not, I am certainly ready to start one…anyone care to join me? Let’s get a list of every working licensed appraiser in California, make contact and set this thing up! I wan’t change now, and if I have to sleep in my car to do it, I will!

  24. David says:

    Assuming you can find an appraiser left in the business after Dec. 31st 2009 the answer is yes. Realtors can talk to appraisers. Appraisers can talk to Realtors. Just be prepared to get an ear full about how badly appraisers were screwed over by HVCC (because they were). Borrowers got it shoved up their rear with higher appraisal fees and horrible quality appraisals. Mtg brokers were essentially forced out of business, and appraisers were forced to take a 50%+ pay cut.

    As a Realtor I would expect some mindboggling competition to appear this year because it’s the logical career to migrate to for 60,000+ appraisers and likely a few thousand mortgage brokers.

  25. I’m a Real Estate agent, and this year I’ve had 2 experiences representing sellers of properties purchased with Conventional loans. One of them was shortly after May 1st and the appraiser was from an AMC. None of us were able to contact him directly with any suggested comps. He was attempting to appraise a beautifully maintained custom built home-regular sale by comparing it to recent foreclosed homes nearby, but that had missing appliances, floors, holes in the walls etc. Fortunately, I was able to suggest other comps that were regular sales and submit them through a very round about process, and after a very harrowing process, he redid the appraisal correctly so that the sale could close. In December, my experience with the appraiser on a conventional loan was totally different. First of all, he wasn’t from an AMC but one of the appraisers used by this lender. He informed me that there is no rule stopping me from communicating with him directly. It was only the lender that he couldn’t speak with directly. Therefore, I was able to directly suggest comps for regular sales in the area even though there were recent sales nearby that were short sales and REO’s . I found comps of regular sales that closely mirrored the features, age and size of this house. The appraisal process went very smoothly.
    So, my question is-what is the actual rule? Can appraisers speak with RE agents directly, or not?

  26. Dave says:

    I couldn’t agree more with JJ Appraiser. If we stick together and NO ONE accepted an appraisal order for 2-months it would be the wake up call this nation needs. If we don’t do something now we’re all dead in the water….. 25-years down the drain, and for what?

    I’ve never had an E&O problem and I’ve never been taken off a list. MY REWARD, the government “STEALS” my business from me. If we’re going down, why not have some fun with the AMC’s first. Don’t accept their orders – take down their business like they took down ours.

  27. JJ appraiser says:

    For all of you that are thinking the worst of the AMC HVCC is over, think again. I just started noticing that AMC companies are now hiring staff appraisers at $10-15 per hour in lieu of ordering from independent appraisers.
    I have a theory that will stop all of this:

    If every appraiser in the United States did not accept appraisal orders for the month of January, it would cripple the industry. Think about it, why are you accepting appraisals for $200-250? The AMC companies have basically put all independent hard working appraisers out of business and now they are trying to take more of the lion share by hiring appraisers. Start saving your money now and lets make this happen. It will put a halt to all lending across america with no appraisals, ban together now, while there is still a chance to break the cycle. If the unions can do it, why can’t we?

  28. Baron says:

    The profession has lost a lot of respect over the last decade. Ramping up its image by eliminating licensed residential appraisers would be a good start. They are what enable AMCs and other sweatshop type operators to degrade the profession.

  29. David says:

    Doug

    You are correct. Experienced appraisers are fleeing the business by the thousands. Colorado lost 20% of it’s licensed appraisers this year (prior to HVCC I believe). I don’t think you will see the truly staggering numbers of nonrenewals rolling in until 2010. The Working RE survey states that 43% intend to leave the business within 5 years. I am quite confident that we will surpass that number just by adding the 2009 and 2010 losses together. It’s unfortunate but the demand for quality appraisers is now comparable to the demand for buggy whip makers. As stated on our webpage http://www.investsmart.com I believe that HVCC will be the major catalyst leading us into a secondary housing crisis and the second phase of a double dip recession.

  30. Doug says:

    My plan is to get out of the business. I have been appraising for 12 years. I had built up a large client base. All gone. 12 years of work obliterated by a rule without any legilative process. Cuomo needs to get his butt kicked. AMC’s are squeezing the fees, demanding ridiculous turn times, and expect me to work 7 days a week. Since I have another profession I can go into, that’s what I’m going to do. The bottom line is that good people will quit the business because of pay. You get what you pay for. The only people left will be people that can’t add and subtract or measure a dog house. What bothers me is that there are appraisers that work for these fees. Eventually they will realize the error of their ways. But it won’t be until the economy turns around. Right now any employment is good. So people will work for fast food wages. But when the economy turns around there is going to be a major bailing out of this business.

  31. Michael says:

    That covers it.
    20+ years appraising. My clients have trusted my work over the past 16 + years and would not use any other appraiser because they would cause problems (poor quality). 90% have gone out of business in the last two years and the rest are holding on but want to quit.
    I can not get any or very little AMC work but actually enjoy being an appraiser. After expenses on AMC appraisals I’m at $10.00 an hour. My son’s girlfriend makes that at In & Out burgers without the liability.

    I could make more for the few AMC appraisals I do but refuse to lower the quality of work.

    Don’t forget: certified appraisers now require degrees : at $10.00 an hour?!

    PS. Attorney work is great and they will pay a decent fee for a good product.

  32. David says:

    I am an appraiser with nearly 20 years experience. I feel sorry for mortgage brokers. They were dinked as much as appraisers. I don’t know of a single appraiser with a brain that would accept work after HVCC kicked in. It eliminated all of your previous clients and then told you that you would be giving up 1/2 of your future fee to a middle man. Only a green appraiser is stupid enough to believe they can turn a profit under those conditions. We closed our business recently after giving it a trial run. HVCC is a miserable failure which GUARANTEES appraisals of the poorest quality. I would not complete a final inspection for the fees AMCs are willing to pay for the form 1004.

    Best of luck Mortgage Brokers. I feel for you guys…just as I feel sorry for any experienced appraisers who are too stupid or too scared to quit the business.

  33. Darren says:

    HVCC.

    I am a loan officer and can’t tell the frustration I am going though. The avergage turn time for an appraisal is 35 days. 19 orders and only one came in to value. AMC companies are using out of State appraisers who have no clue to the area their appraising. I feel like an INS broker, because I have to tell borrower(s) you may need to accept MI if you want the loan, because everything I have seen will point you in that direction. I have closed 6 out of 19, and finding myself and business going south. Many of the borrower(s) who did not or have closed would not use my services again. They feel the appraisal process was to expensave, or time to close a loan 60 days in total, was long enough. To be honest, I am gun shy at this point, the confidence I once had is now gone. It pisses me off to think we must collect the appraisal fee, but can’t speak to an appraiser. The borrower only remembers the one they gave money to, not the appraiser who now could care less about quality work, because they get paid either way. A borrower who took the appraisal that was short and took a loan with MI and a higher rate due to increased LTV, has ordered their own independent appraisal. Lord behold, the value came in 63,000 more and now the borrower is filing a 93A against the lender and the appraiser, for forcing them to take a higher rate & MI. I’m glad for that borrower, but have no time for this nonsense. I am an honest loan officer who watched his income go to next to nothing and now wonder why anyone would evan bother. I have lost interest. Thank You, HVCC and AMC’s that employ dinks who have no clue. A monkey can do a better job, and only requires banannas.

  34. GFC says:

    After 35 years, 4 branch offices and up to 24 practicing appraisers, I quit. I just closed all offices and laid off all 24 appraisers. Hello unemployment line. With respect to the AMC’s when they call I accept every assignment at any fee, THEN let the assignments rot on the shelves, never to be completed. That should put a dent in their customer service rating.

  35. P. Scott Lisagor says:

    A copy of the survey results should be emailed to EVERY State Board of Appraisal. The Arizona Board thinks HVCC is OK and WORKING!!! Somebody inform them.

  36. David says:

    HVCC has accomplished one good thing. We’ve raised our appraisal fees from $300 to $1,000. That’s the cheapest residential appraisal that we will do now that liablity has increased ten fold and the work load has doubled.

  37. wade gibson says:

    Had to log in again. Got a bid request from a “Well Known” AMC, yesterday who is currently in litigation over (according to published reports +/-630,000 appraisals/evaluations for the Lender over a 2 year period). Needing a quote & turn time on a partition appraisal. Where in the owner was selling/gifting a portion of their site area. Explained to the person on the line that I was familiar with performing this type of assignment, but to meet most Lender’s guidelines it requires three separate values, 1) as a whole, 2) the value of the partion & 3) the value of the remainder. She thanked me for informing her of this factor. Then stated she had called +/-20 appraisers before me that had declined to even bid, as they were not willing to accept this type of assignment (good for them/ Competency Provision). When I informed her that it would be $1,000 for this assignment and turn/delivery would be based on my receiving a copy of the survey indicating the partition as well as the location of any improvements including well, septic system, public road access,etc (which will cost around $1,500, she informed me that my fee was to high (they would have to charge the borrower $2,000 for the appraisal. This indicates the mark up some AMC’s are applying to our fee. I have received several angry phone calls from borrowers over the years, regarding the appraisal fee they are charged at closing & some were at more than 100% mark up. It is very hard to discuss this with the borrowers, as the engagement letter says that we will not discuss our fees with the borrower.
    I have lost some business due to HVCC, but not much as I did not do that much 1st mortgage work thru Broker’s as most were more concerned with the money they could make, than making a legitimate loan to qualified borrowers.
    Final note, been here before, & as the old saying goes “this too shall pass”.

  38. David says:

    Realtors realize they are getting screwed by HVCC

    Mortgage Brokers are intentially being forced out of business by HVCC

    Appraisers are being forced to give up 1/2 of their income

    Borrowers are just beginning to see how much they are being screwed over by a change that claims to protect them.

    What we need is a national HVCC commercial and website. I’m hoping that the NAR & NAMB will team up to create one. Once the public realizes that HVCC was designed for profit rather than protection they may grow a brain and hold Congress accountable.

  39. Chris B. says:

    Mick…..My sentiments exactly.

    Hmm….Lets see here, AMCs attract customers by “saving time and money” supposedly. The only way they can do so is by hiring a staff of oblivious people to fill space in a 4×4 cubicle.

    Secondly, they send out the work to the lowest bid. In the end, you get what you pay for.

    Again, I totally agree with Mick. I am not willing to take a pay cut–and train them.

  40. Mick says:

    Here are two examples, quotes from emails I received this week, of Appraisal (non)Management Company requests from 2 different AMCs (both reports had been previously submitted);

    1. “I know that some factors can cause functional obsolescence, but I’ve never seen it result in a negative adjustment.”

    2. “The client would like the appraiser to look at the following comparables and advise if they can be used in the report,” followed by a list of 5 comparables……ALL of which appeared in the report that was submitted in the first place.

    I have historically not been terribly opposed to AMCs to supplement my business, as they can often help fill during the slower periods. They also help avoid the silly phone calls; me, “your request is scheduled for Friday at 9 am,” followed by the client’s phone call Friday at 9:13 am, as I’ve barely made it past the foyer, “what’s the value?”

    But, since they are MANAGEMENT Companies, I had better start seeing some MANAGEMENT happening. I’m not accepting any rate-cut so I can train THEIR staff.

    After 20 years, maybe it’s time for a life change anyway.

  41. Matthew Gloege says:

    You don’t get it. None of you get it. You don’t get it because you are typically fair minded people that think the financial community wants to create good solid real estate value structures throughout our society and you are happy to cooperate with that concept. Some do. Many don’t. And, they haven’t for a very very long time. Shortly after our economy recovers from one of these crashes enough of them are back at questionably business behavior again to the point that all of them have to engage in it to be able to compete.
    I’ve been through three of them now and NOTHING EVER CHANGES.

    Nothing will ever change until we as a country pass a universal federal banking law that goes something like this, “It shall be a felony punishable by a $10,000 fine and mandatory five years in prison for an appraisal value, of any kind and in any form, to leave an Appraiser’s office by any means until the fee for that appraisal be paid in full and the instrument of payment cleared the issuing institution.”

    Sound like social engineering? Our government has never had a problem passing social engineering laws before….

  42. AJ the Appraiser says:

    http://www.hvccpetition.com

    End the madness

  43. Claire Simons says:

    I’ve been discouraged by the low fees offered by the AMC’S. I refuse to work for the fees they’re willing to pay, haven’t signed up with many AMC’s and am considering getting out of the business after 24 years.

  44. I have 16 years of Appraisal experience. Licensed in California. FHA for 11 years.
    HVCC killed all my conventional assignments.
    FHA in 4 months will kill my FHA assignments.
    I took the upgrade test. Wow, it is not designed for Certified level. With mostly income/apt. questions I feel if I past, which only 30% passing rate according to OREA, I should be able to be a Lawyer, Accountant, Calculator and CPA. Now since I didn’t pass I have to take another 50 hours at $30 per in a year when I have to turn in my regular 56. With no appraisal to do in 4 months I will be out of the business fast. I have bills to pay, and no way to pay them. My kids need me. At 50, I can’t get unemployment since I was self employed for 16. We are just getting kicked around and I am so mad, every night I worry what the future will be. This is a serious bad time for us at the Licensed level. I feel it took a hell of alot to get to that level and my experience should amount to something. I’ve done some clients 3-4 times over the years. Who better to do those homes or someone from out of the county. Doing appraisals at $200 for AMC is insulting. It take me a long time to do it correctly and at that rate I’ll be making less than $30 an hour. With all the expenses we as Appraiser’s pay, E&O, Data Services, Classes, License, Car Expenses, Software, Computers, Office expenses, etc…… Its come down to $10 an hour. My wife said to get a job at Target. I think I can make more there now. Thank you Government for no more fair market. My previous clients never pressured me. They trusted me giving them the a fair market value and anything wrong with the property. They didn’t want Law Suits just as much as me. With HVCC and AMC’s the pressure is greater. Where the work come from. Now I have to beg for working for someone I don’t even know for 1/2 fee. Thanks Coumo, you ______.

  45. wade gibson says:

    Sorry for the mispellings/grammer in the above post, but not spell check of view of entire text on this site.
    WG

  46. wade gibson says:

    Here we go again. I’ve been in this business for a little over 36 years (a dinosaur). Over the years there have been numerous changes in the requirements on residential & commercial assignments. Everytime these changes have taken place, there were loud “protests” about how we (appraisers) were being put upon & shouldn’t have to do this “extra work”. However, in retrospect, most of the “new requirements” were items we were supposed to be doing all along, if we were doing it right in the 1st place. Recent prime examples are the revised 1004 & the new 1004MC. They/Lenders want to see the work we were supposed to be performing anyway.
    As far as working for AMCs, which the HVCC is creating a “monopoly” for, there are AMCs out there that have/did pay my reqular/full fee on the “limited assignments” that they send me (2-3 a month on average) & I don’t give them a “firm” cost until I have looked at the assignment & done preliminary reasearch on the Subject & this eliminates a large % of the assignment as they call the next guy on the list that accepts it no matter where/what it is & does it at there price.
    There will always be appraisal companys that will work for less than I do, but that is their individual business decision & I wish them luck in their long term survival. The last 15 years have been a “free fall” wherein anybody qualified for a home loan, including no doc’s, no down payment/closing cost, etc.
    Continually inclining Market Value & the greed in the market took over and resulted in the present conditions. This has happened before (1978-80/1987-92) & will happen again as soon as the major players figure away around the “new requlations” & make the tremendous profits that they can generate. We as appraisers are supposed to be “keepers of the gate” & theoretically are the ones to blame when everything goes haywire.
    We are now in the phase where all the cows have escaped/been stolen from the barn and the powers that be are putting new locks on the doors. Which also keeps any new cows from being placed in the barn.
    In my business management classes back in the mid 60′s we were taught that there are 3 points of any business, price/quality/service. You can have any of these points, but under USPAP, I/we can not sacrifice quality, so there are only 2 points left. If, you desire the other 2 points, IE, service/turn time, the price becomes irrelavent, if the price is the main consideration then service/turn time becomes irrelvant. Prior to signing up with these existing/new AMCs, think about what you are willing to offer/sacrifice to deliver these potential assignments under their desired pricing & rate structure.
    The 2 appraisers that trained me back in the early 70′s were not concerned with the Client’s need for speedy delivery. It was based on how much time it took to be able to defend the delivered report in court, no matter the original purpose of the assignment. It was really frustrating for a newby to understand that the Client’s needs/desires came secondary to the requirements of the Appraiser delivering a creditable report, with a reasonable opinion of Market Value.
    Apoligize for the length of this comment/rant. but once I got started? Best Wished & Good Luck to everyone in these changing times.

    PS:
    I saw the 1004MC as being a vehicle with which to raise my base fee, which has remained stagnant for the last 10 years (already doing the work, but 1004MC is in different formate & time frame(s), but they don’t know/care that work was already being done, just an extra page in the report that outlines your market research). I quoted a $35 increase for the 1004MC to the 4 AMCs that I still do/did business with, when they started requiring it’s inclusion back in 03/09. I have not received any assignments from them since that point in time. So much for their swearing that price is not the primary concern in issuing assignments. Thank God for non mortgage assignments.

  47. Luis says:

    I have made a decision as to how to run my bussiness. It is simple and to the point When I get a phone call from a AMC I tell them that I will go out and do the imspection and fill out the appraisal. The apprisal will be ready for delivery when I recive my money ( my fee not one cent less ) And when such as yesterday I was told that that is not how Gov. of New York worte the new order of bussiness. I told them I dont care. If my bussiness is going to crash and die. I will kill it! I will not pay someone to kill my bussiness by taking half or better of my fee and not incur any of my overhead.

  48. EVERYONE IS MISSING THE BIGGEST POINT HERE. HVCC IS UNCONSITUTIONAL. I HAVE AN ESTABLISHED BUSINESS. WITH HVCC, I WILL LOSE ALL MY MORTGAGE CLIENTS, WILL BE AT THE MERCY OF AMC’S TO GIVE ME WORK (THEY WILL CONTROL MY VOLUME). IN ADDITION, I WILL BE FORCE TO WORK FOR LESS FEES, DEAL WITH NON-REALISTIC TURNAROUND TIMES AND MOST IMPORTANT, I WILL NEVER BE ABLE TO EXPAND MY BUSINESS, IF NEEDED. THIS IS UNCONSITUTIONAL.

    15 YEARS DOWN THE DRAIN, AS I WATCH MY CLIENTS BEING FORCED TO JOIN AMC’S. I DON’T PLAY GAMES, I APPRAISE BY THE RULES. WHY ARE THE GOOD APPRAISERS BEING FORCED OUT OF BUSINESS FOR THE UNLAWFUL FEW??? WHY?? EASY, BECAUSE FANNIE MAE/FREDDIE MAC WANT TO AVOID LAWSUITS.

    TO ADD TO HVCC MESS, BANKS ARE SELECTING THEIR “PICKS” OF AMC’S. IS ANYONE NOTICING THIS??? WHAT ABOUT ALL THE OTHERS??? ARE THE BANKS ONLY GOING TO ACCEPT APPRAISALS FROM THE 3 OR 4 AMC’S OF THEIR CHOOSING?? I TRIED TO JOIN SOME OF THE BANK CHOICE AMC’S. MOST WERE NOT ACCEPTING ANYMORE APPRAISERS, EXAMPLE, RELS AND LANDSAFE (BOTH I HAVE BEEN TRYING TO GET INTO FOR 3 YEARS). IN ANTICIPATION OF HVCC, I SIGNED UP WITH OVER 50 AMC’S. I HAVE REC’D WORK FROM ONLY ONE. ARE BANKS CREATING A MONOPOLY? I GUESS THIS IS NOT AN ISSUE, BECAUSE THE REAL ISSUE IS- NOW FANNIE MAE AND FREDDIE MAC DON’T HAVE TO DEAL WITH LAWSUITS.

    MY FUTURE IS NOT GOOD. HOW CAN I CONTINUE THE LIFE STYLE I HAVE BUILT, IF I CAN’T SOLICIT NEW BUSINESS NOR CONTROL MY FEES. AMC’S WILL AND HAS TURN THE APPRAISER INTO A MIN WAGE WORKER. AFTER, DATA COSTS, LICENSES, INSURANCE, GAS/TIME AND TAXES I WILL BE MAKING MAYBE $75.00 PER APPRAISAL WITH AMC’S.

    IF THIS WAS ANY OTHER PROFESSION, THE HVCC WOULD NOT HAVE EVEN GOTTEN THIS FAR. CAN YOU IMAGINE A LAWYER WHO IS FORCED TO GO THRU A 3RD PARTY THAT CONTROLS HOW THE NUMBER OF CLIENTS THEY GET, CONTROLS THEIR FEES AND HAS TAKEN THEIR ABILITY TO ADVERTISE FOR NEW CLIENTS. THEY WOULDN’T PUT UP WITH IT FOR A MINUTE.

    IN CONCLUSION, I FEEL HVCC IS UNCONSITUTIONAL AND IS TAKING AWAY MY RIGHT TO BUILD AND MAINTAIN MY BUSINESS. TO ME, THIS IS THE BIGGEST ISSUE WITH HVCC. HVCC WILL NOT REDUCE PRESSURE ON THE APPRAISER. IT IS ALWAYS GOING TO BE THERE. I SAY CHANGE THE LAWS, SEND VIOLATORS TO JAIL FOR FRAUD AND LET THE REST OF US CONTINUE IN THE BUSINESS.

  49. Ron in Illinois says:

    1. As the man said, If enough appraisers refuse to do the work for less than a decent fee, things will change.
    2. It’s time the AMCs paid the appraiser’s requested fee, and the Lender will have to pay the AMC for their service, as it should be. Even if it is a subsidiary company.
    3. If Lenders would tell their Real estate Brokers to respond quickly, when phoned for comparable information, the turn around time would satisy everyone.

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