I'm a real estate appraiser and have seen appraisal management companies like Landsafe operate since I started 17 years ago. They are like vultures and they typically charge borrowers $375 to $475 for an appraisal. They then turn around and find an appraiser who will work for the least money, typically an inexperienced appraiser is the patsy, and pays them $150 to $175. The management company pockets typically $200+ for doing nothing more than ordering an appraisal. Landsafe appraisal management is a subsidiary of Countrywide. So basically Countrywide the lender makes more money from the appraisal fee than the appraiser! Unbelievable, a new law goes into effect in 5/2009 which will now require an appraisal used in a loan sold to fannie mae to be ordered through a third party like Landsafe. The politicians have now effectively taken 50%+ of the appraisal fee and mandated that it be given to third party management companies like Landsafe.
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Keller Williams Greater Omaha - Omaha, NE
Welcome to ActiveRain!
If you would like a few tips on getting the most out of ActiveRain, please visit my blog Welcome to Active Rain. It has a few simple steps of what to do now that you have joined.
If you ever have any questions, just let me know.
Troy Trumm, Trumm Team, Omaha NE
Jan 25, 2009 02:06 AM
---Preferred Lifestyle Advisors--- - Lancaster, PA
Mountain Realty
Welcome! If ever you were to have any questions then feel free to contact us and we'll try to help. Please take a look at our blog. for links to valuable information in our sidebar that you can use to navigate this extensive network.
We hope you have a great day, All The Best-
Sincerely, ( Castellum Realty llc - Lancaster PA Real Estate )
Jan 25, 2009 08:15 AM
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner
Hello Michael,
Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to you!
-Keith
Jan 25, 2009 11:12 AM
Keller Williams Realty - Spartanburg, SC
Realtor - Spartanburg, SC
Congratulations on joining Active Rain. This is a great professional networking and referral site. Our Team is working here in the Spartanburg / Greenville areas of South Carolina. We would be thrilled for any referrals you might send our way - or any referrals that we could send to you. Hope you enjoy this site as much as I do.
Jan 25, 2009 10:02 PM
RE/MAX Preferred Realty Ltd. - Windsor, ON
Hi Michael, Welcome to AR, Be a Blogholic and start writing your own blog soon on AR. All the best for your RE business. This is the right place for customers, friends, realtionships etc.
Best - Sash
Jan 25, 2009 10:30 PM
Real Estate TeamMates - Miami, FL
Michael.....Welcome to ActiveRain. This is a great community to network with others as well a great place to learn from other's experiences and knowledge. I've enjoyed it; I hope you enjoy it as well.
Sergio Rebollo Jr.
Exit Prime Realty
Coral Gables, FL 33134
305-582-4062
Miami Short Sale Specialist - Profile
Jan 25, 2009 11:10 PM
Keller Williams Realty - Simpsonville, SC
Carter & Roque Real Estate - Frostburg, MD
Mountain Maryland Real Estate Expert
I agree with you 100% Michael. Actually today I received a call from one of these companies that just happend to order an appraisal from me a few weeks ago. Of course they needed a correction and they needed it now. I had not placed the FHA case number on each page of the appraisal. When I received the call this morning I was out of the office doing inspections and asked the person calling to send me an email and I would take care of it as soon as I got back to the office. Needless to say, they called back twice before I got back to my office even after I told them what time that would be. I corrected the issue and sent the appraisal to them. Five minutes later I get an email telling me that I cannot send them and invoice and to take it out of the appraisal. Did that and resent. Just received another email from them this evening telling me how incompetent I am. Needless to say that didn't go over very well and I probably won't be working for this company anymore. It is rediculous how they want to cut our fees, dictate our schedule and expect us to be on call 24 hours a day. Maybe one day someone higher up will realize that the amc's aren't making the quality of appraisals any better and most likely are the reason for some of the mess this country is in right now.
Feb 24, 2009 12:35 PM
Appraisals Guaranteed - Alexandria, VA
Expert & Customized Valuations
Digital Marketing Consultant - Blaine, WA
Digital marketing & technology consultant
I started in BPO's & moved into the Appraisal Sector (supporting appraisers, not doing them directly). What we saw happen with BPO's was that they used to pay over $100 each, but the competition drove the market value down to $45. The same is happening with Appraisals because of the AMC's. However, the good news is that it opens the door for Appraisers to get more work (even though the payouts are much less). We have some registration tools online for this at http://www.appraisal-management-companies.net
Jul 28, 2010 07:50 PM
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker
We invite you back to ActiveRain in 2016!
Much has changed since your last visit to ActiveRain.
We encourage you to take a look at the "new" ActiveRain website!
Dec 10, 2016 08:23 PM
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