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Mortgage Broker News | 16 Mar 2018, 12:13 AM Agree 0
In the B-20 era, lenders' reliance on property appraisers has skyrocketed—so much so that the latter is having trouble keeping up with demand
  • Dagi | 16 Mar 2018, 03:45 PM Agree 0
    when the lender has started dealing with Appraisal Managment Companies like NAS, Solidifi & FNF who pay next to nothing to an appraiser, it not a surprise that good appraisers are leaving the residential appraisal work and are either becoming a commercial appraiser or leaving the industry altogether. A request to mortgage brokers: Please work directly with an appraiser and not via Appraisal Managment companies-They are 'vulture' who are exploiting appraiser.
  • | 21 Mar 2018, 09:51 PM Agree 0
    Lenders wanted management companies to reduce fraud(which is offensive as a former appraiser) and determined that management companies filled that role.(wrong again) Management squeezed appraisal fees to half of the fees appraisers had been making and mow wonder why there is a shortage. Really?? The only one making money was the management companies.
  • A concerned appraiser | 14 Sep 2018, 06:41 PM Agree 0
    Agreed! Appraisal management companies have killed the residential appraisal market.
  • Appraiser | 09 Oct 2018, 08:26 PM Agree 0
    Appraisal management companies are ruining appraisal profession by reducing appraisal fees to appraisers and making huge money for themselves.
  • CP | 21 Jan 2019, 08:06 PM Agree 0

    I am currently in the midst of changing my career to becoming an appraiser... I am currently a Candidate Member. Can anyone kindly make any recommendations? I am hearing all kinds of negativity, and need to know if I am making the right choice.

    Very much appreciated.
  • Agnes Lee | 25 Jan 2019, 04:41 PM Agree 0
    Hi CP,

    Being in the residential appraisal business for 15 years and now working in a bank, I have to say if you're expecting the status quo in the business, you're being unrealistic. I agree there is a lot of negativity and the AMCs haven't been exactly helping the issue but I think appraisers also share some of the blame. There is a real disconnect between the appraisers and the lenders and with the AMC in the middle, neither is aware of the demands and realities of the other.
    However it is exactly for this reason I believe there are opportunities for those who are willing to learn and adapt and make things better who would thrive in the long run. So if you're looking to make a quick buck fast, this is definitely not for you. If you love properties and are willing to put in the hard work, there are still opportunities.
  • | 04 Feb 2019, 10:10 AM Agree 0
    This is simply ridiculous, where does your data come from stating there is a short supply in Kitchener of appraisers - that is entirely false. You are not calling the right appraisal companies. You have your lists and if the list does not include qualified all qualified companies, its no wonder you are misinformed
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