Another $50MM From Wells for Overcharged BPOs

01/26/2017
Comments
  • Kind of reminds me of when I went to refi with B of A and they told me my appraisal was going to cost $465. Then I got the broadcast appraisal order for my own house where the fee offered was $250. (This was 2006 so obviously there has been some inflation, not in the fees offered for appraisal work, but the fees charged by the lenders for that work.) Wells and bpo’s are just the tip of the iceberg on this one……..Oh, and I went with a local lender, who actually charged what the appraiser did with no skim off the top. They’ve since become my favorite client and have had no problems with an “appraiser shortage” in this area. As for the too big to give a crap folks,….. they can wait…….

    jp January 26, 2017 5:09 am Reply

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