A fellow Appraiser I work with called me earlier today, to ask if I was a Flagstar approved appraiser. I said I was and check my status about 4 months ago and was still active. He stated the last time he checked he was approved, and he had a report he wrote and Flagstar would not accept it, stating that he's not approved!!!!!! So I called their Appraisal department, and I was told that, I'm no longer approved!!! As it turns out, I have not had any reports sent to Flagstar in the past year, so they kicked me off the list. I asked how do I get back on the list, I was told that my area is full and they are not adding any Aappraisers to the list in my area. I could under stand if there was an issue with the quality of my work, but because most of my clients closed down, and then HVCC, and I haven't been getting much work, I'm dropped from the list. I guess it's my fault, I should have been prostituting myself for those $150.00 Appraisal orders, that the lender love so much.
Michael: I find it incredible that this was done and you had no knowledge of it. It sounds like something funny is going on here. Just who is Flagstar, anyways ?
Didn't I read something about a new rule that lenders were not going to be allowed to take appraisers off their approved list w/o notifying them of the reason why? Or was that just something they were thinking about doing? Anybody remember that?
Hmmmm.... wonder how my standing with Flagstar is these days. There must be some alterior motive on their part, wouldn't you think? I mean, why wouldn't you want a larger pool of qualified appraisers?
Last time I checked, I was on their approved list, but I couldn't say if I still am.
I called Flagstar a couple of weeks ago since I'm always hoping to get one of the very few direct FHA deals they do send out themselves and was told that, while I am still on their list for both conventional and FHA, all assignments including FHAs are now being divided between 5 AMCs and they will no longer be ordering any in-house. So, since I don't do any AMC work, I suppose the only reason to be on their list now is for the mortgage broker who can order his/her own FHA assignment request utilizing Flagstar until Jan.1, 2010 at which time the monkey eats the whole banana. Here's hoping TBWS makes some headway with Coumo in New York today!
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