We’re getting some feedback from our viewers that Ditech has shut down it’s retail side and the did it via a conference call. In other news the appraiser community at large lashed out at us on a previous post we made, and the MBA shows mortgage applications are off by a whopping 27%.
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additional comments on "Has Ditech Died Once Again?"
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The reality of changes in life and the mortgage business is seen somewhere down the road. Appraisers requirements are as much as a brain surgeon but they are making the same money as 20 years ago. The industry probably didn't lose many appraisers but you can bet there was no new appraisers coming in. Same hold true for loan officers. The rules, regulations and fines are enough to ensure no new loan officers come into the business thus causing a shortage, not at the moment but shortly down the road.
Hey everyone, the ditech of the past did not survive to live another day as ditech today. Ditech today is the new name for GMAC after coming out of bankruptcy s few years ago, HELLO!!!!
I am falling on the floor laughing … cracking up! I love you guys!
Appraisers… PLEASE when they had to compete (AKA freaking WORK) for our business they were paid $275-$300… after 10/10 (see link) "I do not care what your home is worth… pay me! http://swtor.junkiesnation.com/wp-content/uploads/sites/7/2011/12/finalist2.jpg
Appraisers… they are paid UPFRONT between $500-600 dollars to peform. Let me speak for 98% of my friends in the Industry… Good For You. (That's code-lol). Lions, Tigers & Appraisers OH MY. Like they are the only ones in the industry that didn't have to duck the Flying Monkeys. Pfffttt – It's not personal – except when it comes to my Clients. They are paid up front – they DO NOT HAVE TO EARN their money anymore. They shiver & shake all the way to the Bank! For all of you Appraisers out there – Pie Hole and Talk to the hand/middle finger!
Roxanne Jambor – that $500-$600 that you mention does NOT go to the appraiser. It goes to the AMC who then keeps a good portion and pays the appraiser a pittence! I am sorry but only those appraisers who 'bow down' to the AMC's (who, by the way are majority owned by a lender) to earn a living. That's why in the post from Manny Foranoce mentions the shortage is via attrition and no new appaisers coming on board.
Roxanne Jambor
The fact that you can breed and perpetuate your narcissistic ignorance and stupidity is downright frightening. Here is a $100 proposition for you, and you don't even have to lay down on a couch or unbutton your blouse. Your clients are required to receive the appraisal 3 days prior to funding so rather than looking at the final value on page 2, go back to page 6 and under the appraiser's signature is their phone #. Call them up, tell them that you don't want to talk to them about the appraisal but that you are taking a survey to make sure tha the lender/AMC is compensating them appropriately, tell them how much your client paid for their Appraisal Process and ask what they, the appraiser was paid and how long it takes to get paid. If the amount your client paid and the amount the appraiser got paid is the same, and if they were paid prior to performing the appraisal, and you can prove it, I will send you a crisp brand new $100 bill. Easy money, But do us all a favor and shut your mouth and reign in your wagging middle finger until you get a clue. Oh, and when you find out the split is about 60/40 at best, at least have the balls to come back and post an apology.
Roxane,
You are ignorance personafied.
Too bad the non appraisers in the commissioned Mortgage and Real Estate space are simply clueless both in the requirements and process of other professionals outside of their own expertise. All of the anti appraiser and misinformed post's here-clearly demonstrate this sad cry for education and help. But we're more than happy to contribute to NREP's divide and conquer click fest.
DiTech retail is gone… http://www.nationalmortgagenews.com/news/origination/walter-investments-ditech-to-exit-distributed-retail-business-1069358-1.html
Roxanne Jambor
Respectfully you dont know what you are talking about. Very few of us can command 500 or 600 fees. Those may be the amounts charged by the lender for their cut; the AMC fee AND the appraisal fee. Typicsl appraiser fees as re still low at 300 to 400 eith some areas getting too 450, and 500 for VA work.
If youd like to see an analysis oid customary and reasonable fees go to my website at http://www.mfford.com c&r fees tab.
All of us as re enyitled to our opinions but misinformation serves no one.
A bad business model for over 25 years!
Agreed. Thats why I corrected Roxannes post. We too have our problems but high fees arent part of them.