Video Marketing and Mortgage News Designed for Mortgage and Real Estate Sales

valuequestor: (April 08, 2010 12:27pm)

SoCalAppraiser: Thanks for the info on PCV/Murky. If you get more info on them please post it here or on Appraisers Forum. They have a thread to post info on bad actors.

SoCaLAppraiser: (April 07, 2010 9:22pm)

Regarding PCV aka "what a joke AMC" they just fired my brother from there as an "order assigner" because he wasnt making PCV more of a profit margin off the appraisers back..! yeah he used to be an appraiser so he felt for them and tried to get them more fees... theres a class action lawsuit filed by former workers there for unlawfull termination. That place is the biggest friggin joke of an AMC that i have ever seen...

ElaineB: (April 07, 2010 5:09pm)

Hail Hail, all those folks in foreclosure. Most likely the "trustee" is illegally selling the title report they ordered to facilitate the foreclosure sale, they are selling it to the PUBLIC. This is a violation of the Fair Debt Collection Practice Act. Go to the trustee web site and see if they have a link to purchase the report.(it cost me $39) Make a complaint to the Attorney General of your state, and the Bar association. Usually the attorney that is involved with the foreclosure is also associated with the trustee. Also, find out the chain of title. Often the assignment of deed of trust is recorded wrong and the sale is invalid.

real appraiser: (April 07, 2010 4:14pm)

Colorado Broker: I do not disagree with you. When I had my clients, i took forever to learn which lender had what expectations and special instructions. Once you knew, each job breezed through unless a unique quirk came up. Now, I never know what the new request is going to be and is it from the UW or the AMC. I have seen 14 pages of instructions that have nothing to do with my area, No the house is not near a Volcano, no offense ALOHA. -But I get it-the old days of knowing what my clients needed before they even asked for it, (sigh), those were the days. hope they come back soon, but I am not to hopeful, guys like joe, valuequestor, 5pence, jersy girl and myself just want those days back. We would love to compete with the AMC's on fair ground. Each of us would win hands down. I am with you on the old relationships got things done right the first time, if they thought fraud was a problem, sending the report to the state regulators would have fixed the problem along time ago.

Colorado Broker: (April 07, 2010 3:56pm)

It is so hard now to know if we can even do a loan with all the differences in value and the feeling that the AMC appraisers are just low balling to be safe. Not all their fault though, but I think appraisers should all stick together more so we can preserve the industry that we all all in.

Colorado Broker: (April 07, 2010 3:53pm)

real appraiser. I am not sure if he was asked, but the lender said they did. The barn/shop almost looks like a house. The issue is that when the brokers could order the appraisals, we knew what each lender wanted and we could let our appraisers know how detailed it had to be in these circumstances, but with HVCC the professionalism is gone and this is what happens. We just had another one, where the property was in a gated community, upperscale. The AMC appraiser only used foreclosures, short sales and a couple builder firesales for comps and dropped the value over 200K. I objected and provided sale comps all within the same time frame, closer to the subject, closer in sq footage and requested they revisit as the appraisal seemed so one sided without considering all available data. There is no 3rd party and my work all went back to the original appraiser who stood by his work. I had 2 of my old appraisers look at it and even in todays world they felt he was wrong and off base.

real appraiser: (April 07, 2010 3:45pm)

Colorado Broker: I am not defending the appraiser. but if the order did not state that they wanted interior pictures of the barn or outbuildings(or interior photos of everything) I dont know many appraisers who would. Now, if the appraiser stated the barn was used for something else(like an apartment), then he must show pictures. But if he says its a barn, and shows the outside pic of a barn, ITS A BARN. I take pictures now of everything and I still get a requests for a ceiling, floor, counter top, smoke detector, who the hell knows why. But if it is not in the instructions, how do we know what they want. That being said, if it was in the instructions to take interior photos of the barn, then he is an idiot.

real appraiser: (April 07, 2010 3:37pm)

Joecolorado: Joe, rants are ok if you say you need to rant. Everybody needs to blow off steam every once in a while. But get this. I know for a fact the following is the truth. A few months back I answered an ad for an appraisal firm, not an AMC but a nationwide appraisal firm owned by appraisers, run by appraisers. They paid 35% on all their jobs and most of it was AMC work-averaging $200 a job. the fee split was 30%to the national franchise firm/35% to the local owner/35% to the cert/lic experienced appraiser. they schedule you to do 3 jobs a day, at you guessed it, 70 dollars a job and all have to be turned in by 10:00 am the following morning. Take your laptop to your jobs for corrections. 70 bucks a job. Appraisers doing it to appraisers. I said no thanks after i picked up my jaw from the floor. Even if i wanted the job (WHICH I DID NOT). No way I can do 3 jobs a day and turn them in by 10:00 am the next morning, not even crappy jobs with the help of a crack pipe. it truly sucks

Colorado Broker: (April 07, 2010 3:21pm)

Joe, I understand and we have all had our days. We are brokers and it happens to us. When some broker who is willing to do loans for almost nothing but doesn't have the experience or knowledge we have, or doesn't have an office and works out of his basement. It is frustrating, but we just have to hang in there and hope Washington changes this November.

Joecolorado: (April 07, 2010 3:12pm)

I am going to go off and cool down,have a good one everybody.

Joecolorado: (April 07, 2010 3:10pm)

720remax-I am not a sour grapes guy,I am just really angry today at a selfish action which has affected all appraisers.BUT looking back on my earlier posts,I can see where you get that impression.Sorry everybody, just went off the deep end in a rant.

Colorado Broker: (April 07, 2010 3:07pm)

As I said before: HVCC has reared it's ugly head. We have a purchase that is scheduled to close April 12. All conditions are signed off. 50K more verified assets then lender required. Ratios 17%. Appraiser failed to take interior photos of barn/shop area and lender needs to know that there is not a living area in the barn/shop, so now we have to extend closing for the appraiser to go out and take the photos. Not so bad except this is a short sale and the lender approval of the short sale expires on April 15. If the appraiser had done his job and taken interiors of shop/barn we would not be having this problem. I want my old appraisers back who were paid what they are worth for their work and gave us the quality of appraisals that we don't seem to get now. I agree with Joe. I know things are tough and some of you don't think we should complain, but we are professionals and are now losing our business to those who seem like carpetbaggers.

Ill Appraiser: (April 07, 2010 3:05pm)

You go Joe! In past years I've done sporatic work for AMCs and got paid a decent, but not full fee. Now the same AMCs tell me they will pay 1/3 - 1/2 less than their old fees. Supply and demand. Obviously someone agrees their new fees are okay or we could demand more.

Joecolorado: (April 07, 2010 2:50pm)

perhaps you are right,perhaps not,I am only 58 years old,but the problem is still here and its not going away as the amcs take more and more of our fees.remember,when there is no one to complain,they win.The Realtors are already complaining about "bad" appraisals,do you think its going to get any better with a $50 appraisal?

720remax: (April 07, 2010 2:46pm)

Joecolorado: Man you sound like a real pile of sour grapes. I'm in Denver, while HCVV sucks I still know a number of appraisers who seem to be able to make a living & don't have to work for $150 an appraisal. You can whine all you want about the good old days but they are just that. 39 years is a long time perhaps this is an opportunity to move on to another line of work. Spend your energy making something positive happen instead of complaining about how crappy things are. Sheesh

Joecolorado: (April 07, 2010 2:44pm)

Sick of-I have enough business,just dont have and dont take cheap ass business.

Joecolorado: (April 07, 2010 2:43pm)

value-PCv probably has to fill the massive $50 void left by thankful, now that he doesnt have to worry about cheap appraisals anymore.So yes I attacked thankful for his selfish attitude and will keep on attacking cheap ass appraisers as they will not do anything to help the other appraisers or the appraisal cause.They usually sit in the background letting others take the heat,but jump on the bandwagon making sure they are first if and when the other appraisers get some results.They are users always have been always will be,they think about themselves only,no one else,as no one else matters and until we can weed these paraiahs out of the system we all are affected by their stupidity and their selfish actions.

sickofJOE: (April 07, 2010 2:41pm)

JoeC - If you worked as much as you bit%h you might have some business.

valuequestor: (April 07, 2010 2:37pm)

EFF IT! I'm picking up my marbles and going home.

valuequestor: (April 07, 2010 2:32pm)

Yeahh!!!! What Joe said. I'm starting to loose my mind again. I'm soooo sick of this s. I got PCV/Murcor up to decent fees by working and dealing and explaining how real appraisers worked and that all properties are not created equal. Then they send me a monster home on acreage deep in the Ventana Wilderness between Carmel Valley and Big Sur. You need a GOOD 4Whlr. to get to it. The fee??? $200.00 When I called, the little chippie said "Mr. Valuequestor everything we give you seems to be "complex" and you need more money. The other appraisers we use in your area aren't so difficult." I'm thinking of a nice .....cool.......gun.

Joecolorado: (April 07, 2010 2:30pm)

I have been an appraiser a long time, but I have just come back from Home Depot after looking for a job,unfortunately they are not hiring in my area.So I have to sit it out waiting for a decent appraisal request to come along meted out by someone earning $6/Hr.that is demanding I give them 39 years of experience for $150.....that isnt going to happen.I am not angry at thankful, I am furious at him. He may be worth $50 for an appraisal but I am not,I am worth a heck of a lot more,but he has reduced the fee scale dramatically without considering someone like me that has tons more experience and qualifications that he has,just because he was too proud to get a manual job while waiting for appraisal work,while I considered him in my cheap ass appraisal requests..

Working the system: (April 07, 2010 2:28pm)

I know a lender who gets all his appraisal order data entered in the appraisal ordering system he uses for his favorite lender, then before he hits the submit button, he calls his favorite appraiser (who's in the system) gets him on the phone and says I'm pushing the button now! At that exact moment the appraiser is able to refresh the page, see the order and take it. Like shooting fish in a bucket.

Joecolorado: (April 07, 2010 2:24pm)

perhaps if thankful had thought about someone other than himself,which he didnt do,and now he doesnt have to do,he wouldnt have been slammed with vitriol.But dont try and tell me that his taking reduced fees for work didnt affect all of us that are qualified and experienced as it did,hasd and will be doing.The customary fees payable are now jaundiced by his selfish actions, but he doesnt have to worry about it any more as he has FNMA work.He doesnt mention his level of license,nor does he mention his qualifications, but I expect he is underqualified, inexperienced and doesnt give a toss about any one else,just as long as he is ok thats all that matters.

Joecolorado: (April 07, 2010 2:19pm)

Real-what is happening here is that people like thankful have diluted the market with cheap appraisals,but bitch about the fact they are working for a low fee,then they hit the motherlode,telling everyone about their good fortune and that they dont have to work for free anymore,but we do...as in the mean time they have reduced the working fees for all non FNMA appraisers by accepting low fee work which has now becomethe customary fee.They dont have to worry about it any more so its not their problem but love to tell us what is happening to them., They didnt offer advice on how to get FNMA work as someone immediately asked prior to my attack and didnt repsond to any of my rant as they were probably ashamed of their selfish actions whic they should be.Again, I am in the same boat as everybody else with the same bills to pay,I have adapted my lifestyle to suit my income level and am aware of the fact that every fee decrease affects ALL of us,so I refuse to take low fee appraisals.

valuequestor: (April 07, 2010 2:11pm)

Yeah Yammer and Frank!! I called five of my former bank and broker clients and said hey! Why don't you find a way to order directly from me again. All you have to do is hire 2 or 3 people in every office to handle the appraisal orders and we could all tell the AMCs to take my advice....pull down their pants and slide on the ice. I mean seriously, HOW EASY would that have been! It could still be done. But we all know why its not being done that way.....don't we.$$$$$

valuequestor: (April 07, 2010 2:04pm)

I do not understand for the life of me how anybody can work for BofA or Wells Fargo. Its worse than child labor in China....and you people do have a choice! Wake up !!, just quit, just say no! What are you REALLY going to lose? Everyone should pull their accounts from them and shun the crooks/cheapskates. Booooo Hissss!! They should all wear tall black hats and long skinny black mustaches. Nyah ah ahh!!

Frank Garay: (April 07, 2010 1:57pm)

frustrated very much - Buy the "Little Red Book of Selling" and read chapter one.

Frank: (April 07, 2010 1:55pm)

Bravo Yammer! Thank you!

SouthlandAppraisersUnion.com: (April 07, 2010 1:17pm)

You came into this world butt naked, scared and screaming. With no promises, simply a chance to prove your worth, to yourself, is what you had, what have you done with it. Do you lead or do you follow? Do you stand for your beliefs when it cost you? WE are becoming sheep. Now I do not judge anyone except me, and I judge me harshly.. joshua

Yammer in AZ: (April 07, 2010 1:03pm)

While all you complainers have been, well...complaining, I called 5 more people and found a buyer who needed a mortgage and a Realtor referral. Get focused!

weelest: (April 07, 2010 12:53pm)

If that doesn't work I gave her the OCC phone # 800-613-6743 and their website to file a complaint www.helpwithmybank.gov,the start here button gets you to the complaint window

justin.bishop: (April 07, 2010 12:35pm)

If the clients need a B of A approval and are strong you can go to the b of a website with your client and just go through there. B of A asset managers are told to accept the online approval letters that are generated by doing the pre-appoval on the website.

weelest: (April 07, 2010 12:24pm)

has anyone had an issue with a BOA property for sale that required a BOA prequal letter to accept bid? Customer called to get one but told them they were still going to use me so they refused to qualify her and she can not bid on property. Is this a violation of any of the 100 or so acts we had to learn? How to fight this?

Atlanta LO: (April 07, 2010 12:12pm)

SouthlandAppraisersUnion.com - Speaking of football - Roll Tide!

SouthlandAppraisersUnion.com: (April 07, 2010 12:04pm)

This is my stand. And of the 50,000 appraisers that have been rape because of a few. We all have 10 centers of influence, and those 10 have 10 , so then the sting begins to weaken, say 5 , then 3 , SO, 50,000 x 10 =500,000 x 10 = 5,000,000 x 5 = 25,000,000 x 3 - 75,000,000. SO far that is 75 million votes you will NOT GET , EXCEPT OF COURSE for that one guy that thinks Jeff Session is doing his job,. I wrote Mr Sessions he replied that most of the problems where BINGO BOB RILEY'S FAULT. So I wrote Bingo Bob and told him about the problems with the secretary that he appointed to be the director of the Alabama appraisal board. HE Promptly replied to me . I will make sure this is investigated ,I will send it straight to the director of the appraisal board. lol The mouse has a problem, let the cat handle it..

SouthlandAppraisersUnion.com: (April 07, 2010 11:58am)

Wow, seems like a lot of anger going on. Let's talk football: You see the the lender is teh quartback, the appraiser is the fullback, the surveyor is the half back, the termite, home inspector, lawyer, prosessor are the linemen. And of course the SCORE IS A HOME OWNER getting a fair deal or a refinance. So if we do not learn to work together, we are going to be in more trouble. I will say this though. An appraiser works on an average and the pasture always looks greener. I have worked on appraisals for a week before, my fee did not go up, it was a hard one. But I took the job and I lost on it. It is an average business. What has gone wrong is the middlemen, now are charging 600 and want to pay $225. I had an order for a driveby they wanted me to do it with listings for $40. HELLO... Everyone try help each other get through this change. What s being done right now is going ot cost the Democrats millions of votes. And we are already in an unhealthy political place. Well my 2cents

Aloha Appraiser: (April 07, 2010 11:44am)

Hey guys stop bashing appraisers. The appraiser doing work for FNMA had valuable information to share but your bashing him has left him silent. Perhaps you should come to Hawaii and learn what Aloha is really all about! We need to be supportive to one another and this is far from it!

Fair and Balanced: (April 07, 2010 11:39am)

I think that it's very interesting that Mark Savitt and NAIHP are staging their rally on the exact day the the MBA is having their day on the hill. The Mortage Bankers Association is having their annual Policy Conference on April 13th and 14th and will take to the hill to meet with their elected official on the 14th. Can you say "PHOTO OP" Does that skew the strength of the NAIHP? I wonder.

loannetter: (April 07, 2010 11:25am)

Commercial and small business loans seem to be the big thing in my area. Transitioning into the less regulated world of hard money and fast deals has pointed out the fact that our residential mortgage words --while onerous is-- yes, safer for all concerned!

real appraiser: (April 07, 2010 11:17am)

another thing, anyone who has a family would never say beat the wife and kids, even as a joke. its not remotely funny, regardless of your sense of humor(or lack of). so its clear you do not have a family or they are far removed. easy for you to say stop feeding your family, sorry but it rings true. I know everyone is angry, It is never a reason to start your attacks, both of you are getting worse about it. It may be your opinion, but others have the right to say how they feel and express their opinions too. It is not your blog. If this blog turns into a attack club, where two guys are trolling for people to abuse, it will turn most people off. Try to be positve and helpful, maybe he can help FRUSTRATED and others get quality work, How are you helping, seriously, answer that question? HOW DO YOU HELP?

real appraiser: (April 07, 2010 10:56am)

joe/5pence: you guys really think that attacking every appraiser who tries to state his situation is going to bring appraisers together. I get what both of you say, but I also get what other appraisers are dealing with. Do either of you have kids, someone sick in the family, health insurance you desperately need. I will say probably not. Keep kicking those that are down and then ask why appraisers wont help each other out. Spence, you actually have said appraisers are selfish, basically, because they dont follow you. I'm fine in my area, the guys I trained are hurting due to their markets. Both of you want people to starve and lose their homes, like getting another job is a snap. Again making assumptions of others, their lives, markets, family needs. Try some compassion instead of pure hate. We are all in the same boat. I WILL NOT JUDGE others, as I do not know their situations and they did not cause this, others outside the profession did. Now go ahead, start attacking me, spread hate

Zach: (April 07, 2010 10:52am)

@KJ: I'm not a pessimist or a "realist" but there's a point when people need to stop fooling themselves and fix the problem. Praying/hoping for another bubble because "someone has to sell all these houses" is just ignorant. Yes, 90% of the working country is working..NOT! Unemployment is 5+ times what it should be....that's MILLIONS of extra people unemployed. Positive thinking and false affirmations aren't going to do jack. I read Covey, Ziglar, Dyer, Robbins, etc and I follow their beliefs but I am so sick of people doing the same old stuff and hoping for different results. The change we need is from the top down. You can't have billion dollar companies looking out for the "best interest" of all us little people. It doesn't work. Small businesses need to grow, home values need to continue to plummet, we need to stop outsourcing all our employment and things need to CHANGE. It's not going to happen because FHA rolls out a new program or two. I wish it were that simple.

rhodyloans: (April 07, 2010 10:41am)

Is something wrong with my computer that I can't see today's show?

frustrated very much: (April 07, 2010 10:34am)

I am extremely frustrated and need some advise. The company I work for and started with, has not given me any training. I became a loan officer for a small Midwest company with five offices. My bosses attitude toward me is figure it out and if you have a question come ask. But then the door to her office is always shut and the attitude is you should know this. She never took the time to show me any thing and when I started I had never done this before. I am not wasting any more time. I have five loans under me and all went terribly wrong. This is coasting me. What should I do. I feel abandoned. there is one other employee in the office and she feels the same way. She has already said she is done and moving on. Luckily there are multiple businesses in the office and I and her work for an other.

Colorado Broker: (April 07, 2010 10:29am)

HVCC has reared it's ugly head. We have a purchase that is scheduled to close April 12. All conditions are signed off. 50K more verified assets then lender required. Ratios 17%. Appraiser failed to take interior photos of barn/shop area and lender needs to know that there is not a living area in the barn/shop, so now we have to extend closing for the appraiser to go out and take the photos. Not so bad except this is a short sale and the lender approval expires on April 15. If the appraiser had done his job and taken interiors of shop/barn we would not be having this problem. I want my old appraisers back who were paid a fair amount for their work and gave us the quality of appraisals that we don't seem to get now.

KJ: (April 07, 2010 10:19am)

@ZACH That means 90% of the people in this country are working! People are still having babies, graduating from college, getting older and needing to downsize. Glass 1/2 full? or 1/2 empty...Read The Energy Bus by Jon Gordon

Joecolorado: (April 07, 2010 10:14am)

I just realized I sound just like my dad!

Joecolorado: (April 07, 2010 10:12am)

well there doesnt seem to the the pride in our profession anymore.It used to be that an appraiser was esteemed,as clients were aware of the education and experience necessary to become a good one.We also had to be good negotiators,(fees),and diplomats,as some of the houses I have been in were a little on the wild side to say the least.(I actually had an appraisal that had evidence of a working hydroponic system in the lower level)the borrower was 6'25"tall with a mean dog and a beautiful wife(or was it the other way round?)We also could take CE classes,which was not mandatory,but if you wanted to remain good you elected to take the classes as it made you a better appraiser.All that has gone.Now the new appraisers take the money and run and then bitch about everything.It was the best profession in the world hands down,now its become a job.But I still love it.Gotta go for a while as Home Depot is calling me.I'll be back.

Frank: (April 07, 2010 10:08am)

Great response KJ!

5pence: (April 07, 2010 9:58am)

Joe, a guys got to relax right? heheeh. BTW Frustrated, how many appraisals at $200 do you have to do to break even from all our license fees, education, E&O insurance, car insurance, office overhead, MLS access, phones, lights and power, gas costs, wear and tear on vehicles, accounting, suppies and more? At what point do you actually clear $50/hr? August? It must be nice living there in cookie cutter land with model matches for every sale and no competing REO's or short sales that have to be considered. Appraisers Heaven indeed. Me thinks someone is not being realistic with themselves. *joe, would you agree - Licensing let in all these a-holes that are destroying this profession and turning it into amc heaven and appraiser hell. It's race to the bottom with amc's and fees and they know it but are afraid to admit it to themselves. "I'm a professional!" There's a lot of denial going on in this "profession". No common sense but they do know deniability best & work it. Job to do, later.

Joecolorado: (April 07, 2010 9:41am)

5pence REALLY........you'd kick your dog?how far down will you go for crying out loud?LOL.

Joecolorado: (April 07, 2010 9:39am)

I have to leave for a couple of hours and as it happens I will be driving past a Home Depot.I will call in to see what their employment board has to offer.It cant be any worse than working for $10/Hr.Maybe if I tell them I will work for $9/Hr.I will be first in line to get a job......

5pence: (April 07, 2010 9:39am)

Frustrated, how much do you think that appraiser was making an hour? Less than $10? You know that no one can do a credible and fully defensible appraisal at that rate and having to do 10 a week for minimum wage. As far as 4 hours for a quality due diligent appraisal in this environment, are you fkn kidding me?! No way. I'm doing an RE-LO and there are tons of sales are out there that say $160k and $190k (due to short sales and foreclosures). It's taking forever. Besides, What's wrong with taking it out on your wife and kids and kicking the family dog? A guys got to relax ! ;^)

Joecolorado: (April 07, 2010 9:35am)

so saying that $50 per hour,may be too much for the amcs to pay,what then?,would you work for $45/Hr.or maybe $40/Hr,perhaps $35/Hr.What do you consider your worth?Remember,its not what you consider your worth to be in their eyes,its what they will pay you which is considered usual and customary.The Realtor adage that you can always go down on price,but never go up applies in this case.But really!how far down do you want to go?thankful was working for about $10/Hr as it takes me 5 hours+/- each appraisal.I know that Home Depot workers get more than that AND they get some benefits,with no responsibility.

Yammer in AZ: (April 07, 2010 9:32am)

I made my 5 calls to my Realtors & borrowers. It was a great way to spend 45 minutes and I will do the same today. 2 of my borrowers said they'd refer their friends to me EVEN BEFORE I ASKED! Thanks for the motivation. Gotta go now...calls to make.

Mskier: (April 07, 2010 9:31am)

Just a thought to all appraisers caught up in the new market price for appraisals. The cost to the consumer for appraisals has gone up! The market will bare increased prices for appraisals and has for the last year. Appraisers have just been getting less. This should be a labor dispute and not an arguement about what is full market value for appraisals. It has gone up! The AMC's can argue all they want about the new market value but all they have done is forced everyone to work at the most desperate appraisers level. Stay strong everyone. Maybe the AMC's will eventually leave and appraisers can keep the full fee $400-$500 per appraisal that is currently being charged.

Joecolorado: (April 07, 2010 9:30am)

justify it anyway you feel is necessary,to yourself,but it is still screwing other appraisers.I have been an appraiser for 39 years,but dont accept any work that is below what I consider my worth.I have lost scads of cheap offers of work,but,dont want that kind of work as it will affect the "typical"market fee for the area,a fee structure that "they" now promote and vaunt as being typical/customary.I consider that for my experience and qualifications,$50 an hour is not enough,and I keep to that philosophy,I will not work for a pittance,which will subsequently and consequently affect appraisers working in my area.If you think for a second that $50 for an appraisal is going to be the last word,its not..how low will you go before its too low?"They" are already starting to drop fees to accommodate the additional cost of "them" doing business.Perhaps thankful,should be kept on the "reserve"list as a clutch appraiser.No, there is no excuse for throwing us under the bus.

Frustrated Appraiser: (April 07, 2010 9:16am)

To all appraiser, do not get angry with our pears. In regards to taking a lower paying job to feed their family. You are venting your frustration at the wrong people. That is like having a bad day at work, and coming home to take it out on your wife, and kids. $50.00 for an appraisal is pathetic and of course I would decline it, however when you agree for a $200.00 + fee on an appraisal that is in the same zip code that you live in, and it will take you less than four hours to complete the report, that comes out to $50.00+ an hour. Now come on, if I get that job at Home Depot I will not be making that much an hour. With that being said don’t get me wrong I HATE all AMC that are not willing to give us the full appraisal fee of $350.00+ in my area. I have been an appraiser for 20+ years and I hate that fact that I can no longer market my business. I no longer can talk to any LO. I am looking for ways to stay in business.

PMorton: (April 07, 2010 9:13am)

SuSu - you can get a VA loan on a mobile home in Florida through Bank of America. I used ([email protected]) and he did a great job for my client.

barbz: (April 07, 2010 8:55am)

Involved in a personal short sale. The 2nd lien holder wants 10% of current note. Is this typical??

5pence: (April 07, 2010 8:49am)

10% uneployment doesn't reflect those that have their own business, those whose unemployment ran out and those that are falling through the cracks-usually the older worker. Realistically, unemployment considering these is near 20% or 1 out of 5 people is out of work. Wages are falling faster than home prices, where is the end? Banks are holding on to inventory and releasing it slowly around here. I'm seeing a 3-5% drop only because of these REO sales that are actually lower priced and in better condition than the short sales. $50-$60 appraisals!?? Disgraceful! I hope the state boards catch up with you. There is karma and my guess is your time appraising is going to be very limited and you deserve it. You have no respect for this profession or yourself. Ever hear of the Judas goat? It leads the other goats to slaughter and right before the end, it's spared. The $50 fees you supported bent over are now left to others now that you've been spared. How's that 30 shekels of silver looking?

Joecolorado: (April 07, 2010 8:40am)

There is a big difference between a prostitute and a whore.That is why I used that word.Prostitute is too genteel a word for what I am thinking of for thankful....Judas Iscariot would be so proud....IS it I?....of course its you....are you a selfish idiot?

Idaho Broker: (April 07, 2010 8:36am)

New HUD News Release on proposed rule change. News release number HUD No. 10-070. this can be found at fha.gov under press releases. its not a mortgagee letter yet, but soon will be.

guess: (April 07, 2010 8:31am)

APPRAISERS - AREN'T YOU SO PROUD Prostitution the act or practice of engaging in relations especially for a portion of it’s actual value. The state of being prostituted - DEBASEMENT - THIS IS WHERE IT GETS GOOD – Pass the New Apprasisal Profession on to your Children – Be so proud you have allowed the Appraisal Profession to be a disgrace. 1 : to lower in status, esteem, quality, or character – 2 - to reduce the intrinsic value of (a coin) by increasing the base-metal content b : to reduce the exchange value of (a monetary unit) ------------synonyms debase, vitiate, deprave, corrupt, debauch, pervert mean to cause deterioration or lowering in quality or character. debase implies a loss of position, worth, value, or dignity <commercialism has debased the holiday>. vitiate implies a destruction of purity, validity, or effectiveness by allowing entrance of a fault or defect <a foreign policy vitiated by partisanship>. deprave implies moral deterioration by evil thoughts or influences <the claim – How do you define AMC ------- come on CALIFORNIA A

N.CalAppraiser: (April 07, 2010 8:31am)

Thankful Appraiser - where do you get FNMA assignments from?

GODLIKE: (April 07, 2010 8:24am)

Good one, Clark Kent and Anonymous are the same people. It fits since Clark Kent is a secret identity. But please quit yelling. All I read is your name, none of your content. I'm sure you have a lot of good things to say and it's a shame no one reads it.

Joecolorado: (April 07, 2010 8:21am)

Thankful-good for you, while you were whoring yourself out,undermining other appraisers by accepting and doing cheap appraisals,other appraisers were out there busting their buns with some pride and refusing to work for $50.....Now that you have sacrificed the others and have lucked into the money,the cheap appraisals are being farmed out to another person like you that doesnt care about anyone but themselves and they are being told that the $50 fee is"typical" for the market.BUT then again why would you be concerned as this doesn't affect you anymore.I understand that you have a family to feed and that you need your car,but at what expense?ALL of the other appraiserrs out there have been affected by your accepting that cheap ass fee and unfortunately they dont get to do FNMA appraisals that pay full fee,so what do they do?

Anonymous: (April 07, 2010 8:01am)

TO THANKFUL AND OTHER APPRAISERS: IT IS HORRIBLE THAT YOU GUYS ARE GETTING LESS MONEY THAT I WOULD DO A BPO FOR. AS A BROKER I ALSO KNOW THE DIFFERENCE BETWEEN AN APPRAISAL AND A BPO. IT IS A SHAME WHAT IS BEING DONE TO WHAT WAS ONCE A DIGNAFIED PROFESSION. BUT TAKE HEART. I HAVE DONE APPROX 1,000+ BROKER PRICE OPINIONS IN THE LAST 20 YEARS AND HAVE SEEN HUNDREDS FROM OTHER AGENTS WHO ARE NOT BROKERS OR EVEN A GOOD AGENT. THIS WILL COME AROUND AND BITE THEM. ONCE THAT HAPPENS THEY WILL UNDERSTAND THE WORK AND EXPERTISE INVOLVED IN DOING AN APPRAISAL. I HOPE YOU CAN KEEP FEEDING YOUR FAMILY IN THE MEANTIME. HOPEFULLY WE WILL SEE THE EVENTUAL END OF THE AMC'S, THEY HELP NO ONE BUT THEMSELVES.

Frustrated Appraiser: (April 07, 2010 7:59am)

Thankful appraiser: Good for you. I am in the same vote that you were in. I REALLY want to work however, I am not getting any business from the AMC’s. HELP!!! How do I get on your list. I need to work now. Looks like I will be applying at Home Depot.

CLARK KENT: (April 07, 2010 7:51am)

ANOTHER GOOD ONE GUYS....FORECLOSURES PART 2 IS A COMIN'. ONE PORTFOLIO MANAGER TOLD ME THAT FANNIE IS STEALING HER ASSET MANAGERS. SOMEONE FROM A DIFFERENT ASSET MANAGEMENT COMPANY TOLD ME THEY HIRED A DOZEN NEW ASSET MANAGERS LAST WEEK. ON A DIFFERENT NOTE, THE PENDING HOME SALE RISING DATA IS FLAWED BECAUSE SHORT SALES HAVE PICKUP RECENTLY AND OVER 65% OF THOSE DEALS WON'T CLOSE. ALSO DON'T TAKE THE DATA ON CLOSED HOMES SALES TOO SERIOUS IN THE COMING MONTHS AS THE TRUSTEE SALES COMING UP WILL SKEW THAT DATA.......... I TELL MY BUYERS THAT ANYTIME IS GOOD TO BUY. IF YOU BUY NOW THE PRICES MAY GO DOWN SOME, BUT IF YOU WAIT, YOU MAY GET A LOWER PRICE BUT PAY A HIGHER INTEREST RATE WHICH COULD COST YOU MORE IN THE LONG RUN.

Thankful Appraiser: (April 07, 2010 7:44am)

ONE reasone I love FNMA right now, they saved my life. I was about to have to hang it up as an appraiser. I was doing work for AMC's and getting paid $60-70 an appraisal for BofA, BB&T and other major banks who use AMC's. I was just about to go into forclosure myself and my car payment had not been made in three months because I couldn't do appraisals fast enough to get paid decently. Luckily We got a ton of REO work from FNMA.THank god, for FNMA because they are actually paying the appraisers full price. Thank god for these forclosures! My family will eat another week.

Dee Valentino: (April 07, 2010 7:35am)

As Positive Pro said, they will do a 203k streamline. However, Freedom Mortgage does BOTH! And we really specialize in the Regular/ Full program. What does that translate to? Your borrower has someone (The FHA Consultant) who will make sure the contractor bid is inline for the work being done, the materials used are what are supposed to be used, and the work being done was done the right way, without corners being cut. It's a win/win situation for you and your borrower. A happy borrower is your best referral source. Right?

Pipette: (April 07, 2010 7:34am)

This video, blog, whatever has become stale.

marshmello: (April 07, 2010 7:29am)

respond to dynamicmgt the broker is joey hansen with email [email protected] she has me a 4.5%, 15 yr.fix refi on a jumbo! with zero closing cost, zero pts. and no orig. she is the best.

GODLIKE: (April 07, 2010 7:28am)

OLD SKOOL is the main way I prospect. Emails are too often seen as Spam or many times anything with an attachment is stopped by their servers so with emails you never know what's going thru and what's not. This makes email nowhere nearly as effective a way to prospect without doing mass mailings. Faxes are . . . well does anyone have a fax machine anymore? Consistency is the key and in person is the best way as people (yes those you call on are people) will soon begin to see you as something more than just a salesman and an intrusion in their busy schedule. I see many of my contacts socially after hours now.

frankgaray: (April 07, 2010 7:23am)

I love the fact that only 25% of the people on the blog feel that it's still all doom and gloom out there... It's good to know that most people at least have a positive attitude toward things.

frankgaray: (April 07, 2010 7:20am)

I can't agree with you more Godlike. "Going in the field" was how we made our living back in the late 80's and early 90's. No cell phones, heck, not even a pager. We were "in the field" talking to referral partners. Come back to the office with a lead or two, grab your pink message notes from the receptionist and get to returning calls. Those were the days. Funny thing is, nothing changed. The peeps that are out talking to the builders and realtors are the one's that are killing it. Jeremy is a prime example, he's out twice a week I believe. Realtors too, get out and talk to all the small business owners in town, why not? See if they will offer your clients a discount and now you've really got something to talk about on the phone. Like shooting fish in a bucket.

GODLIKE: (April 07, 2010 7:20am)

And one other tidbit, don't give up too easily. Sometimes they are paying attention to you and have mentally made the switch that you aren't just a salesman, but THEIR LOAN OFFICER only they just don't have any business to send your way yet. I have recently had 2 builders who suddenly began sending me tons of leads after 3 months of contacts. At some unknown time in the past I became their loan officer. I didn't know this and I almost quit calling on them, but because they were near someone else I called on and got business from I persevered. If the economy were to turn I am in the best shape-contact wise- in decades and I would be hiring right and left. At the moment about 70% of the leads I get don't have the capacity to purchase due to new guidelines.

Positive Pro: (April 07, 2010 7:17am)

Plaza Home Mortgage will do 203k streamline in Florida and Nationwide. Look for 203k session with Plaza and Home Depot at Mortgage Rev!

GODLIKE: (April 07, 2010 7:09am)

On the note of making phone calls there are other personal contacts that are just as rewarding. Up until this last election we haven't had to prospect in years. But now I'm out beating the streets again and it's actually kinda fun! I get to go out and B.S. with a bunch of builders (and a few, very few, Realtors). I have one little kernel of mortgage stuff I want to make them aware of (usually gathered from TBWS) and I work it in somewhere in the conversation. The poor people stuck in the office are doing drudge work and I'm out laughing and talking with people that are fast becoming friends. People are basically nice so calling on people whether it is by phone or in person is basically a fun thing to do. Try it, ya might like it.

frankgaray: (April 07, 2010 7:08am)

Godlike... you're right. As long as you're talking to your database you're making money and NOBODY can tell me otherwise because in know first hand how well it works. You can use anything for a script. The point being, as long as you have something to talk about, you'll feel more prepared. And feeling more prepared will help with call reluctance.

SuSu: (April 07, 2010 7:06am)

Does anyone know where someone can get a VA loan on a manufactured home in Florida

GODLIKE: (April 07, 2010 7:03am)

Well your phone call scripts were kinda lame BUT they do point out the fact that you don't have to have some sort of intricate phone script before you can make a call. You know these people, better than their preacher knows them, there's always something to talk about and someplace to go with the conversation other than just buggin' them to ask for a referral. The contact today might not result in anything more than a contact which further cements you into their brain. The call today might generate 3-5 referals in the future and I don't know about you, but I need to eat tomorrow just as much as I need to eat today.

Franks Uncle: (April 07, 2010 7:00am)

Gawwwd... Your lack of political talk... You sound like Larry King!

dynamicmtg: (April 07, 2010 6:55am)

marshmello... who is the investor again? waterstone? I really need a jumbo investor. thanks

marshmello: (April 07, 2010 6:39am)

working with [email protected] on a jumbo refinace at 4.5%, 15 yr.fixed with zero closing costs,no pts, no orig. worked with her 6 times already. some times what seems "too good to be true" is true! give her a try.

El Cid: (April 07, 2010 6:30am)

I love this show. I am a wholesaler and I am convinced to get my license and take advantage of the REO market. OH and although I dont care for what you guys think about short sales, I have flipped a few! lol booyah.

frankgaray: (April 07, 2010 6:23am)

I just have to say that I totally dig the posts already this morning. I'm digging that someone needs 203k loans and others pop up saying they can help. Awesome SuperCoop! I did calls and notes from 06 through 07 and they were some of my best years! Easy and effective. Every time I picked up the phone I would come away with a lead. It may have been 10 calls instead of 5, but it worked great. Quality warm leads. Brian was a stud at cold calling. He would do it once or twice a week when the market tanked. He literally went from zero to hero doing that. Personally I don't like cold calls, but the bottom line is YOU GET DEALS BY TALKING TO PEOPLE!

Dee Valentino: (April 07, 2010 6:12am)

Pam, Freedom Mortgage does 203K Loans across the country. We have 20 years experience behind us. So yes... they close. Our website is freedowwholesale.com. Click on your state and you will be able to get FL contact info. We specialize in the full/regular 203K program, but do both. I am located in the midwest. If anyone is interested you can email me at [email protected].

SuperCoop: (April 07, 2010 6:11am)

Brian & Frank, When i make calls to past customers I get work. I do the note it is easy cheap and works very well.

Jersey Girl: (April 07, 2010 5:28am)

Brian & Frank: Thanks for the info. I always enjoy watching you guys! I'd still like to see a visit from Mabel. ;) Have a great day!

CMS Financial Solutions: (April 07, 2010 5:17am)

Now is the time for the cash investor to buy homes and resell on land contract because many of the buyers will not be able to obtain a mortgage due to a previous foreclosure. Our company helps these people restore and rebuild their credit and payment history so they may be able to qualify for that mortgage in 3 to 5 years.

rattherbeinmaui: (April 07, 2010 5:16am)

Anti-HVCC Rally... what about a Anti-New TILA/HUDI Rally?????

Keven: (April 07, 2010 5:13am)

Pam, we do 203k, 203KS, and escrow holdback rehabilitation loans on homes that do not meet lending guidelines at close. These are easy and simple to close. [email protected]

Pam: (April 07, 2010 5:03am)

Where can we find 203K wholesalers who want to do business in Florida? Have been experiencing a large number of bank foreclosures that are in uninhabitable shape! Amazing.... we have to deliver a qualified client with a house in good shape, but banks can get away with selling delapidated property to the public!

Terri: (April 07, 2010 4:47am)

Home Depot is hiring because of all the homes damaged by the owners before moving out.

Zach: (April 07, 2010 4:42am)

Hate to be negative is we're not even CLOSE to recovery. Yes, people need loan officers and real estate guys...but people also need JOBS. And people need good/decent credit to get a mortgage. If 10%+ of the country is out of work...how good is their credit going to be? Also, the states are really hard on loan officers with bad credit trying to get licensed. Foreclosures STILL have not hit yet at all...I don't know what banks are waiting for but there millions of people out their late on their mortgage NOT getting a modification but also not getting foreclosed on yet. Perhaps I'm jaded from being in the mortgage/debt settlement/loan modification business and talking to these people all day, hearing the horror stories all day and it's never ending. We're still in for a lot of pain, people without jobs, available credit, cash in the bank and who also have bad credit are abundant...what are those people going to do?

Rob A: (April 07, 2010 4:20am)

As for calling 5 people in your SOI, I would encourage the LOs to study, not read study the book by Gary Keller the Millionaire Real Estate Agent The techniques are 8x8, 33 touch and 12 direct.

flappraiser: (April 07, 2010 4:19am)

Great info for those in the real estate industry that can still talk to their clients. However, as an appraiser we can't any longer contact our clients, unless some idiot appraisers want to consider any AMC a client.