Video – AMCs – fees, blacklists, etc.

http://www.youtube.com/watch?v=QPQjJidp8b0

The topics include:
– Major restructuring of residential lender fees since HVCC
– AMC fees and how to make more money
– Consolidation and what it means for appraisers
– What is an AMC
– AMCs since 1969, when LSI started
Note: the fee discussions start at about 14 minutes

I have been writing about AMCs since 1992 in my paid Appraisal Today newsletter. My speaking style is much more informal than my writing style ;>

Phil Crawford, the host, is a certified general appraiser who has been appraising (residential and commercial) for over 15 years. He is a third generation appraiser. He has been doing interviews on a local Cincinnati real estate radio show for a few years. We are a good match!!

To see other radio shows, go to www.voiceofappraisal.com

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My first interview was in April, on Fannie Mae’s exclusionary list. To listen to this interview, and listen to the other shows, go to www.voiceofappraisal.com and scroll down the page to the video “E3: The Fannie Mae List!!”

Topics included:
– Why Fannie is using UAD data
– Fannie and Big Data
– How appraisers get on the black list
– Which appraisers are getting on the black list
– The future of Fannie’s Big Data

AMC fees – going down?

Poll Results – www.appraisalport.com  survey 11/4/13

Have you noticed any change in the fees being paid by AMC’s since the market has slowed?

– No, fees seem about the same as before. 2,618 votes 52%
– Yes, the fees seem to have increased slightly. 464 votes 9%
– Yes, the fees seem to have decreased slightly. 1,419 votes 28%
– Not sure 488 votes 9%
Total Votes: 4,989

My comment: I am forecasting declining AMCs fees because loans have dropped. Keep up with fee changes at www.appraisaladvisor.com  which is now free to all appraisers!!
I have lots of tips on getting higher AMCs in my AMC Special Report – $20 and FREE to paid subscribers!!
go to www.appraisalport.com to take the current survey.

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Fewer appraisers in the future – fees and turn time?

In last week’s email I reported these results:

www.appraisalport.com  poll

With few new people currently entering the appraisal profession, do you foresee a shortage of appraisers at some point?

Yes, in the next few years. 2,705 votes 47%

Yes, but it=s probably years down the road. 1,603 votes 28%

No, I don=t think we will see a chronic shortage. 1,137 votes 20%

Not sure. 253 votes 4%

Total votes: 4,818

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This is a followup to that poll

As a follow up, do you think the future shortage of appraisers will affect fees and turn times?

Yes, at some point it will. 3403 vote (70.6%)

No, I don’t think it will have much effect. 663 votes (13.8%)

No, I don’t think we will see a chronic shortage. 528 votes (11%)

Not sure. 224 votes (4.6%)

Total Votes: 4,818

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Do your appraisal fees reflect the value of your work product?

www.appraisalport.com survey

Do you think the fees you currently accept are indicative of what your work product is actually worth?

Yes, at least in most cases. (15.2%) 826 votes
Not yet, but they seem to be headed in the right direction. (33.6%) 1,821 votes
No, they would have to increase dramatically to meet the current scope of work. (51.2%) 2,774 votes

Total Votes: 5,421

My comment: My fees have always been too low and I don’t even do any AMC work! I just can’t seem to get my billings up to my $100 per hour minimum. Darn!!!

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