CFPB Drops Zillow Investigation
I also think it’s good to get rid of these extorations of companies by the Feds,
It is why I voted and worked to make Donald Trump President. Cut regulations and free up capital, not extort it and make pay offs to cronies in dark places.
Interesting. . . Hope this doesn’t get out of control. . .
Lets take this a step further, CFPB, and free up the Appraiser to pursue business from the orginators, processors or employees of Loan Brokers/Agents, who can be loyal and feed you their workload because you can get it done right the first time, develop healthy business relationships and collect fees at the door from the borrower, owner or consumer & not wait 30-35-60 days for a check in the snail mail. Instead of what is now a BS Greedy Appraisal Management System the allows the AMC to collect the fee, find the lowest fee appraiser and/or fastest turn time appraiser & feed them the lions share of the work, so the AMC makes more $$ and looks good to their lender client to keep feeding them the work. Sorry folks, fees for Appraisers are stuck in 1990-2000 prices still while inflation of everything, Gas, Paper, Toner, Car Repair, software, insurance, continuing education, clothes, food, insurance, data sources and much more have eaten up the fee now provided, due to competition in many metro areas with 20-40 appraisers and then no funds left available for assistants, offices, vehicle upgrades and savings when your not the fastest or cheapest. There is a cost to produce a report, time and expenses. So much more is spent on running a business today, with fees from AMC’s controlled by a few and if not met, next, they have other numbers working for less & faster in their arsenal. We are now a number, in a pool of other numbers that can be accessed if we don’t bend over to their demands. Non licensed middle men/women have the control over our livelihoods. A couple late reports, requests for higher fees due to scope or complains, saying the wrong thing or not complying to them and that’s it, you don’t work for that AMC any longer. Once on the “Do Not Use List”, other AMC’s find out and your basically blackballed over minor instances. This has got to stop, ones career is based on an AMC that likes or dislikes your tone of voice or understand that life gets in the way of a delivery turn time by hours or just a day, be it traffic, vehicle issues, family needs, computer or printer issues, etc. We all have them, but this delays turn times and then we are not meeting their demands, the work stops from that AMC so they dont look bad and have their quota shrunk.
Im tired of the 15-20 hr work days to meet deadlines of 48 hrs when I need to be in the field & behind the CPU to type up reports, verify data, research new assignments, wait 45-60 days on a Net 30 check, with no recourse for late fees by the AMC who is now in control of your life, take it or leave it. I yearn for the days when I was in control, collected at the door, employed 8 others and ran an efficient Appraisal Office & made enough to save some for retirement or a rainy day. For the past 8-10 yrs now, have not been able to save any $$, to hire an assistant or replace vehicle with anything other then a used car after putting 360,000 miles on the last one I had purchased new. Appraisers are still under paid, work too many hours to meet demand and don’t have any loyalty from the AMC’s that control the flow of orders, we are a number now, NEXT….
Is it no wonder their is an appraisal shortage? A brain drain from this industry? Young whippersnappers doing 10 minute inspections taking short cuts like relying on photos for details, not verifying data, giving vague responses to the report, generalizing instead of factual reporting. I have seen & talking from experience. Not all are bad, but the ones still in the industry have had to do what they have to do to be viable, yet undermine the professional doing the tasks needed to perform and report factual information for the client to make a decision on a loan. I’m sure the Appraisers will get the blame for the next implosion, the increasing values, etc. The AMC model has proven disasterous to the industry, many careers have been destroyed and the foxes now rule the hen house putting livelihoods in jeopardy for no reason other then, asking for more fee on scope or not accepting lower fees, for asking for more fees or just our demeaner or tone of voice. CFPB has been a disaster to the Residential Appraisers lives, not only RE agents or Mortgage Broker/Salespersons. We all have to work together, so lets help the RE Appraisers get their business back in their control and have their lives back, some time back because they can hire again & be in control of their business model, not an AMC dictator taking control and bankrupting their lives. Support your local Appraisers careers! They are the eyes and ears of the lenders to report market data & conclude values that make loans close(or not close), provide risk management to the lenders and be truly independent, not a puppet to a ruthless AMC model of business.
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