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The Appraiser Coach Podcast


Listen while you drive to and from appraisal inspections as Dustin Harris, The Appraiser Coach, gives you helpful tips, tricks, ideas, and principles which will make you a better appraisal business owner. Dustin has been a successful real estate appraiser for many years. As the Appraiser Coach, he has made it his life’s mission to teach other appraisers across the country to also succeed and thrive as real estate appraisal business owners. Join Dustin each week as he keeps you informed with the latest in the appraisal profession, interviews movers and shakers, talks to your peers about what is important to them, and shares with you his secrets to incredible success.

Sep 27, 2015

Jeff Dickstein, Chief Compliance Officer at Protek, is here to further dive into TRID and what it means from an lender and AMC perspective.  This is a must listen to episode.  


John Pratt
over four years ago

Mike Ford comments are right on when it comes to the fees that appraisers should be getting for an appraisal.
Regarding TRID, this is just giving the AMC more leverage to limit the appraisers request for an increase in fees. The appraiser has no idea of what fee the lender disclosed to the borrower for the appraisal so the AMC can just tell the appraiser that there is no money available for an increase in the fee and you will find that many appraisers will accept that answer and take the assignment for the fee that was offered. I would be willing to bet that this will result in the fees to appraisers declining in the future not increasing.

Mike Ford, CA AG, SCREA, AGA, GAA, RAA, Realtor(r)
over four years ago

Hi Dustin. Im familiar with TRID already and your podcast was still helpful.
I wish you had used different, more realistic difference in fees quoted vs C&R ($500 vs $550; and inference appraisers are ok at $350 net to them).Same with fixed fee comments. 10% per appraisal does NOT compensate for todays work volume or complexities. WHY would you plant the seed in anyone's mind that $40 or $50 covers all generic complexities?

Minimum reasonable fees to appraisers for non complex, conforming loan limits FNMA GSE appraisals should now range (nationally) from $685 to $775+-. Support for this contention is found at http://mfford.com/html/c___r_fees.htm

Your $650 triplex example should have been billed out at $900 to $1,000+-!

TRID is going to create a grey area where we appraisers are expected to 'eat' the cost of extra work. We BOTH know the lender is just going to cancel the order if you are asking for more than the AMC can eat or the appraiser is willing to eat. All pretense of free enterprise has disappeared from our profession when loan officers and lenders are quoting fees you or I will be charging. Lenders and AMCs are ALREADY asking for appraisers to commit to a one size fits all fixed rate fee THIS WEEK in mailings.

Cordially,

Mike Ford
National Appraisers Peer
Review Committee Chairman,
American Guild of Appraisers (AGA)
OPEIU/AFL-CIO.

Randall
over four years ago

With all due respect. I am sorry but his company does not pay C&R or renegotiate for a change in circumstance. I negotiated a fee for what I thought was a 1200 sqft ranch on a 1/2 acre lot and to my surprise when I arrived at the property to meet the home owner who made a special trip to meet me, the subject turned out to be a 5000 sqft home on over an acre of waterfront property that had been on the market for $12,500,000. Did they renegotiate, no, instead they cancelled.