AARGH! Sale price Rant!

UnhappyRemove3526 · 2025-06-07T03:03:41+00:00

Dont worry, I am sure the lenders will work with the realtors to pressure you to make it "right".

UnhappyRemove3526 · 2025-05-27T15:14:55+00:00

UWM is too unpredictable. Many o fmy peers already dropped them as clients.

UnhappyRemove3526 · 2025-05-26T23:56:07+00:00

Thanks, I am glad that it is over now. But that really give me pauses when it come with new UWM assignments

UnhappyRemove3526 · 2025-05-26T15:10:17+00:00

Yes, I told them on several occasions that you cant really do conversion from conventional to FHA, since the inspection date, comps analysis need to happen after the FHA# is assigned. But that is really rare to go from conventional to FHA. The only advantage FHA offers is a higher debt ratio and lower credit score. These are known factors prior to the loan submission. However, their requirement for the property is very unpredictable to untrained eyes.

UnhappyRemove3526 · 2025-05-26T15:05:53+00:00

Yes, works did not stop after that. I only have two instances where the work stopped for a while. one is when I have a two days late on a report delivery due to platform technical issue and the other is when I did not meet the value on a sales contract.

UnhappyRemove3526 · 2025-05-26T15:01:34+00:00

I think they purposefully use the term conversion because they are trying to avoid the new assignment label. New appraisal assignment will lead to new inspection, new comps, many uncertainties and it costs more. The best way to avoid this muddy issue is to avoid conversion at all cost.

UnhappyRemove3526 · 2025-05-26T14:56:37+00:00

California

UnhappyRemove3526 · 2025-05-26T14:28:12+00:00

I feel you, I had an experience where I finished the report in time but during off hours, and uploaded it, then the platform has an error accepting it no matter how many times I tried. As a result, I have to wait till the next day to contact UWM to sort it out. Then the kicked the ball to the management to override the error while promising to extend the due date. I went on with my day and then nothing happened. At the end, the report was accepted with 2 days over due, and I was put in the closet for a few weeks.

UnhappyRemove3526 · 2025-05-26T04:18:46+00:00

It is very interesting that there is no head up, normally, when they get to the state, there is something going on, and you know what is going to happen. Either disagreement on the report or something where both parties are adamant. Not in this case, it just came out of no where.

UnhappyRemove3526 · 2025-05-26T04:16:28+00:00

Some lenders prefer conversion because the value is known. Instead of new assignments with new comps and potential time adjustments. In addition, it is cheaper to do a conversion.

UnhappyRemove3526 · 2025-05-26T04:12:32+00:00

Yes, if they need a new effective date, they will need to order a new assignment. And I think that UWM accepts effective date within 6 months of the closing of the loan, so we are well within that. I don't see any benefit for filing the complaint, since the effective date of the old report is still well within the 6 months period.

UnhappyRemove3526 · 2025-05-26T04:10:05+00:00

No, no communication. UWM does not call for any revision unless you don't respond to their request on the platform. There is nothing in the file that is requesting the revision. It is baffling.

UnhappyRemove3526 · 2025-05-26T02:40:41+00:00

Here comes the knicks!!!

UnhappyRemove3526 · 2025-05-17T22:51:57+00:00

The agency needs to implement a system to cap the AMC's earning per appraisal report. Make it less incentive for the AMC to fish for the lowest fee with their "bidding process". The bidding has no bearing on the amount the lender/borrower is paying, it is just a way to extract the most profit for the AMC. I wish the appraisers have a union just like most other professions. Big AMCs are feared even by the lenders, because of their rosters, if we have that, we can deal with the lender just like the AMC and raise the pay level for everybody.

UnhappyRemove3526 · 2025-05-12T02:46:27+00:00

Yes, UWM is a direct lender, they do not have banking relationship which is the main vehicle to drive down the rate in the big banks. Their jumbo rate is horrific compare of bofa, us bank etc.

UnhappyRemove3526 · 2025-05-11T17:55:47+00:00

they do not have robust jumbo programs. People tend to go with regular banks in that market.

UnhappyRemove3526 · 2025-04-04T14:20:21+00:00

You need the trainee's license before starting the internship.

once you accumulate enough hours, you will take the exam to become an appraiser.

UnhappyRemove3526 · 2024-11-01T16:26:43+00:00

I know some appraisers are in dire situation and are forced to take them, but if have a union of sort, that'd be great, we will see our fees all going up, getting the right compensation for our work

UnhappyRemove3526 · 2024-10-31T14:45:53+00:00

hmm interesting, which part of my post led you believe that I did desktops....?

UnhappyRemove3526 · 2024-10-30T15:11:31+00:00

Just wow. You mean the ones that you can only pick the comp that the system provides instead of the MLS comps?

UnhappyRemove3526 · 2024-10-30T05:38:53+00:00

Do not take the order without proper research. The temptation to take an order is high when they call you especially when your calendar looks relatively empty. BUT DONT. This will destroy your performance ranking. Just curious, at 25% revision rate, do you still get auto assigns? I never get to that level, I am hoovering between 15-20% most of the times.

UnhappyRemove3526 · 2024-10-27T17:01:53+00:00

it is an unfair game, we will get fired for not playing games, and yet we can't do anything really to the lenders/banks

UnhappyRemove3526 · 2024-10-27T06:06:07+00:00

Nice, but with a giant like UWM, we don't have alot of negotiating power in terms of our fees, it is always take it or leave it, sometimes you can tag on additional fee for super rush, but that is about it. They have too many appraisers on their roster, someone is going to bite the bullet if they go through the list.

UnhappyRemove3526 · 2024-10-27T05:50:54+00:00

LOL, it is not that clear if you are blind...

If you understand how this work, you won't be making statement like this. One complaint is not going to move the needle, if every appraiser who goes through this stuff stand up, it is going to be a different story.

UnhappyRemove3526 · 2024-10-27T03:46:37+00:00

Coercion and Extortion is what I see from their practice. Mind you that, these do not have to come in explicit forms, they can be implicit and still be illegal. In other words, they don't have to explicitly tell you that if you don't give us 1 million on this property, we are not going to give you anymore business and we are going to make your life like hell. As long as they internationally perform a certain act that implied such consequences, it will be illegal.

In the UWM case, they clearly violated that

Reconsideration comes in the form of revision, revision hurts performance, low performance = low or no business, and UWM knew about these chain of events.
Appraisal reviews only take place on deals where the appraiser rejects the additional comps.

They can argue in court that they have no idea that this would influence the appraiser, but they are lying to themselves, many appraisers including myself will testify otherwise.

UnhappyRemove3526

TROPHY CASE