Rick Grant of RGA Public Relations and Jeff Schurman of Leading Causes have released an industry White Paper entitled “The Appraisal Management Company Full-Fee Hypothesis.” This is the first paper in a series the two plan to write in 2012, while also working with a number of mortgage technology thought leaders to produce other papers.
“I’m very proud of the work we’ve done on this Paper,” said Grant. “While the conclusions we have reached are bound to stir up controversy, this is an issue the industry needs to start taking very seriously. I hope we are able to help key industry players carefully consider the actions they need to take to move our industry forward.”
Grant and Schurman began writing White Papers for industry thought leaders earlier this year and are reaching out to a select group of chief executive officers who may want to publish additional material.
“The AMC wholesale, split fee or discounted fee model is 30 years old now,” said Schurman, who previously served as executive director of the Title Appraisal Vendor Management Association (TAVMA). “A lot has changed in the mortgage settlement services industry, particularly in the last five years. What we offer are 20 self-serving benefits to the AMC industry that result from paying full fees and charging a service charge to the lender. We believe the entire industry will be better served if we adopt this standard.”
RGA and Leading Causes are making available many methods by which interested industry leaders can share their thoughts. For more information, visit www.rga-pr.com.
“The government has created a super-regulator in the CFPB that may or may not hear the real needs of our industry,” said Grant. “Now is the time to show the government that our executives are thought leaders. If we fail to do so, we can expect the government to continue its relentless hostile takeover of our business and we’ll have no one to blame but ourselves.”
