NEW WEBSITE EXPOSES AMC GOUGING PRACTICES

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Mortgage and Lending with Los Angeles & Ventura Counties in CA

I subscribe to the daily webcasts of Think Big, Work Small (TBWS), which is hosted by these two guys, Brian Stevens & Frank Garay.  TBWS was founded a couple of years ago by a bunch of real estate and mortgage people who wanted to teach others in the business how to work smarter to grow their business.

Today's video was especially interesting because it talked about the new website that exposes AMC gouging practices. Just recently, I blogged about the lack of accountability of AMC's have and how no one is regulating the way that these AMC's operate.  The more that appraisers as well as other professionals in the real estate and mortgage industry begin to expose the way these AMC's do business, the more likely someone or some regulatory agency or some other governing body will begin to investigate these AMC's (or at least the really bad ones) and start to do something about it.

Anyway, here is today's video and I hope you enjoy it as much as I did.  I'm also providing a link to I want to also suggest checking out some of their more recent ones too as well as their blog threads.  Very interesting discussions going on.

Appraiser Support Website 

Watch Video

 

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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

 Donne Knudsen

Realtor® - CalState Realty Services

DRE#: 01364050 / NMLS#: 249822 

 

805.2069123

 

E-mail   My Blog  

Serving low-medium income individuals and families as well as first time buyers with both their real estate as well as their mortgage needs including down payment assistance

Los Angeles County  --  Ventura County

© 2010 - All Rights Reserved

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Rainer
290,411
Richard & Carol DeGrace
Mortgage Loan Officers NJ 609-209-3700
Aurora Financial Group | Mortgage Company - New Jersey

Make sure HUD hears this! Those guys at TBWS are awesome. I'm jealous. haha.

January 14, 2010 10:54 AM
Rainmaker
1,344,737
Andrew Mooers
Northern Maine Real Estate-Aroostook County Broker
MOOERS REALTY

The goughing headline made me come in so see who was getting slaughtered, taken advantage of. Thanks for getting the word out.

January 14, 2010 10:54 AM
Rainmaker
1,248,279
Carla Muss-Jacobs, Principal Broker/Owner
Buyer Focused ~ Buyer Results
BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% of the Time

WOW -- these guys are great, and also very informative.  HVCC/AMC . . . YUCK!

January 14, 2010 11:34 AM
Ambassador
1,479,585
Tammy Lankford
Your Lake Sinclair Expert (706-485-9668)
Lane Realty

As you know I'm no fan of HVCC and AMCs.  This is just what you would expect when extra people want to get paid for someone else doing a job.  It's just plain wrong.  The government broke the system in an effort to fix it and now they want control of my health care?  I don't think so.

January 14, 2010 04:31 PM
Ambassador
657,699
Sheldon Neal
That British Agent Bergen County NJ
Bergen County, NJ - RE/MAX Real Estate Limited

yikes ! I think my pal Tammy put it well above.

And boy, those two have boatloads of energy huh !!!

January 14, 2010 10:55 PM
Rainmaker
598,830
Donne Knudsen
CalState Realty Services
Los Angeles & Ventura Counties in CA

Steve - I actually think HUD does know what's going on and I believe that they are going to try and resolve at least that problem.

Andrew - As far as I'm concerned, it's the really good appraisers that won't work for half the pay that have gotten treated the worst by HVCC and AMC's.

Carla - I like these guys too.  Sometimes they're a little wacky for me so early in the morning but they do know how to entertain.

Tammy - I second the motion.  It reminds me of that old saying "I'm from the government and I'm here to help".  LMAO!

Sheldon - Sometimes a little too much for me.  LOL

Thx for stopping by everyone; I really appreciate it. 

January 15, 2010 12:55 AM
Rainmaker
156,508
Wendy Rich-Soto Team At Keller Williams Realty, LA Harbor
"Because IT IS all about YOU!"
Keller Williams Realty, LA Harbor

Donne,

 

I love these guys!  They are hilarious but they are FULL of great info!  Thanks for the post!!

 

Wendy

January 15, 2010 08:51 PM
Rainer
104,294
Frank Kliewer

Donne, very important stuff . . . hopefully it makes its way to those that can make a fast change in the regulations. Thanks for the post.

January 17, 2010 02:48 PM
Rainmaker
598,830
Donne Knudsen
CalState Realty Services
Los Angeles & Ventura Counties in CA

Wendy - Frank & Brian are definitely entertaining.  Sometimes they've had a little too much coffee for me first thing in the morning.  But I enjoy watching them anyway.

Frank - Glad you liked it and yes there definitely needs to be a change in regards to how AMC's are allowed to operate.

Thx for stopping by folks; I really appreciate it.

January 19, 2010 03:49 PM
Rainer
60,737
Alix Pinzon
(562)743-6086
Open Mortgage

Hi Donne, Thanks for the link to David Steven's AR post.  It was a rare opportunity to express my feelings on HVCC, and HUD's decision to adopt it.  There's no logic in trying to control, or manage the AMC's, since they're worst than the original problem.  I appreciate your support for our cause.

January 21, 2010 01:15 AM
Rainmaker
598,830
Donne Knudsen
CalState Realty Services
Los Angeles & Ventura Counties in CA

Gregg - I have no more faith in the HVCC process than many others having now been blindsided by it.  However, no one has been more harmed by this nonsense than the hard-working, ethical and experienced appraiser.  You guys are the ones I feel sorry for - more so than my HVCC clients.

January 21, 2010 12:51 PM
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Rainmaker
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Donne Knudsen

CalState Realty Services
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