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skyminor
147 Posts |
 Posted - 08/26/2008 : 5:14:20 PM
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| Down with Pam and her soapbox!! Up with AMCs being easy to use! |
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ritabradley01
4945 Posts |
Posted - 08/26/2008 : 5:25:07 PM
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quote:
Originally posted by Boulderco
Maybe the appraiser shouldn't even get a copy of the contract. That provides a number to hit, so maybe all sales transaction prices should be determined based solely on a blind appraisal.
The idea that buyers are willingly paying too much for a property is, well, too much.
Do you read the newspaper? Homeowners complain about paying too much all the time when they default on their loans. |
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Boulderco
1775 Posts |
Posted - 08/26/2008 : 5:36:57 PM
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quote:
Originally posted by ritabradley01
quote:
Originally posted by Boulderco
Maybe the appraiser shouldn't even get a copy of the contract. That provides a number to hit, so maybe all sales transaction prices should be determined based solely on a blind appraisal.
The idea that buyers are willingly paying too much for a property is, well, too much.
Do you read the newspaper? Homeowners complain about paying too much all the time when they default on their loans.
That's because they're defaulting on their loan and they are looking for someone to blame. You can't completely avoid housing price fluctuations, and when someone buys, and then prices drop, they want to blame someone. |
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johnnyboy38109
4363 Posts |
Posted - 08/26/2008 : 6:22:58 PM
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quote:
Originally posted by ginadirocco
Hi,
I am an appraiser who is also struggling with a sharp deline in business over the past 6-12 months, and it will only get worse for us. As I'm sure you know, with the probable coming of the HVCC in January we will no longer be able to accept appraisal assignments directly from mortgage brokers; you will be required to order them through AMCs or Appraisal Management Companies.
You have been our bread and butter for many years and on January 1st we will no longer be allowed to work with you. I, for one, am so frustrated that all the work I've put into establishing and maintaining my business relationships will go down the drain in a few months and I (and you) must soon work with a faceless management company who cares not about the quality of a report, but only the low price and fast turn around.
I am wondering how mortgage brokers feel about this change. Are you pleased that you won't have to deal with appraisers anymore? Are you disappointed that the relationships you've maintained over the years are no longer usable? Do you think that this is good or bad for the consumer?
Thank you for your input.
Gina
I really don't see it making much of a difference.
Correct me on this because I know this is a fluid subject, but HVCC doesn't as of yet require FHA to use AMCs, correct? If I am correct and FHA is excluded, frankly I don't care one whit because FNMA and FHLMC aren't closing anything anyway.
If FHA is included, just means a few changes, thats all.
One thing I've been curious about, though is this:
why the requirement that the AMC be paid with a check over the phone or cc? I've been an identity theft victim 3 times over the last 14 years............while not quite Oliver Stone-esque in my paranoia..........I'd be skittish about that if I were a customer. |
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