Tuesday, April 19, 2011

Frustrated Real Estate Appraiser's

I have been a real estate appraiser for 16 years. I was employed as a staff appraiser with Bank of America until the Countrywide merger. I like over 700 other appraiser's was replaced by LandSafe appraiser's. I can't tell you how many times I heard the comment that the government basically forced BofA to purchased Countrywide. So in short I have my government to thank for the 60% pay cut I have been on since Novemver 2008. I can go on an on about this but dwelling on the past will not fix the future.

I, like most appraiser's, am becoming increasingly frustrated with what is currently going on in our industry. The creation of the HVCC and AMC's has destroyed our profession and is another example of the government getting in its own way. The new Dodd-Frank Act was supposed to correct the issue, as far as our profession goes, of appraiser's receiving reasonalble and customary fees. But as usual loop holes were intentionally left within the wording that created a contradicition in what methods can be used to determine R & C fees. I don't see the point in getting into too much detail over all this. WE ALL KNOW HOW IT GOES!!!!

I have read blog after blog and comment after comment over news articles about other appraiser's nationwide being just as frustrated and broke as I am. Struggling to keep their business going, paying the bills, supporting their families and so on. Believe me I am right there with you. The question is do we really want to do something about it or do we just want to piss and moan about it. We all know what can be done to fix this and completely resolve it in a matter of weeks.

I currently work for an appraisal company that has been doing business with many of the typical AMC crooks such as CoreLogic and Valocity. In my opinion two of the worst. As of April 1st 2011 I refused to do anymore work for these two AMC's. Yes my workload has dropped and so will my paycheck. But if someone does not take a stand nothing will be corrected.

I challenge all my fellow appraiser's across the nation to refuse all orders from AMC's that do not pay a R & C fee immediately. If you want anything to change this is what has to be done. After less than two weeks with NO APPRAISERS accepting work from an AMC they will have to either shut down business or start paying R & C fees. It is really that simple. So I challenge all of you stop complaining on the internet and over emails and complain directly to the people who are stealing your money and destroying our industry.

So lets see if we can all work together and take a stand. I am very interested in seeing how many appraiser's will take a stand. A couple weeks of slow orders is well worth your income per appraisal returning to double what it is now.

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