Andrew Cuomo, GET A LIFE!

Mortgage and Lending with First Meridian Mortgage

Today my client was issued a time of the essence letter. He's purchasing a REO and the bank will not give an extension. His mortgage contingency is over but I don't have a clear to close yet.

Its the gosh darn-it appraisal holding back bank clearance. To make a long story short, the out of area appraiser the AMC chose keeps making errors, and it took a week to get back the corrected appraisal, only for me to realize there are more mistakes. This nonsense has made a simple appraisal correction turn into a month long nightmare and a worried sick client that may lose his down-payment.

Forget about this particular scenario. I had so many clients forced to pay thousands of dollars more in fee's and so much precious time wasted.

And now lets focused on the appraisers. Good honest Americans, who worked for years to build a business with integrity and hard work have seen their business go down the toilet. flush..

We have traded quality for quantity. We let go of experience for the lowest price. all the while the amc's are raking it in.  The appraisers are getting paid a quarter of what the client is being charged and this outright thievery is mandated by the government.

I wonder if Andrew sleeps at night... I sometimes don't. I worry about my clientsgetting shafted, as I stand by and cant do anything to prevent it. I sympathize with the Realtors and their deals sit around not closing in a timely manner. I feel for the appraisers.. but as to Andrew.. GO GET A LIFE!!! get away from an industry you don't understand. Don't pass laws that just look good for your record. but HURT consumers. HURT mortgage lenders, KILL appraisers.

if you run for governors seat. You do not have my vote!!

Comments (5)

Geoff ONeill
John L. Scott Medford - Medford, OR

Of course.  This guy likes to over-regulate.  Not for results, but for votes.

Feb 22, 2010 02:20 PM
Andrew J. Lenza
Coldwell Banker Residential Brokerage - Holmdel, NJ

One of the reasons I moved out of New York -- the Cuomo family. After Whitman, McGreevey and Corzine we now have a Governor who gets it in New Jersey. Good luck to you. 

Feb 22, 2010 02:24 PM
Mike Warfel
Mike & Rita Warfel Real Estate LLC - Avoca, MI
Associate Broker

I can hardly wait till the government runs our health care- every thing they attempt to "fix" just gets worse.

good luck, we will all need it

Feb 22, 2010 02:33 PM
Lane Bailey
Century 21 Results Realty - Suwanee, GA
Realtor & Car Guy

Governments get into business in order to "fix things"... but most of their fixing leads to worse situations than what they jumped in to fix.  And we keep letting them...

Feb 22, 2010 02:35 PM

The problem is, we have career politicians, so they dont care.. all they care about is the votes

Feb 23, 2010 05:57 AM