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Nomad

Platinum Member
Registered: 04/30/09
Posts: 1,176
Reply with quote  #1 
2.9 Billion.... WTF am I doing w/ my life?


http://www.sourceoftitle.com/article.aspx?uniq=7590

Fidelity National Financial (FNF), the largest title insurance underwriter and a provider of mortgage services and other services, has reachead an agreement this week to purchase mortgage services and analytics firm Lender Processing Services, Inc. (LPS), in a $2.9 billion deal.
Merkin

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Registered: 02/07/13
Posts: 1,590
Reply with quote  #2 
WE are getting FUCKED!
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Lobatt

Platinum Member
Registered: 01/07/09
Posts: 280
Reply with quote  #3 
What are you doing with your life? What the rest of us are doing. Driving ten year old cars and falling down rickety deck stairs while the bankers and AMC owners are kicking back in their second houses on the beach.
RubberStamp

Platinum Member
Registered: 03/04/08
Posts: 817
Reply with quote  #4 
This is the equivalence of when the banks, such as BOA and Wachovia, saw value in the fading subprime loan market and started buying them up.  I don't believe these investment partners are this dumb to purchase a company like this with rising rates and such a decrease in business forecasted.  But rather, it is a buyout of the main stock holders of LPS where they can cash out with the risk now to be transferred to a broader investment base of individuals who will then accumulate the loss over time.
Nomad

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Registered: 04/30/09
Posts: 1,176
Reply with quote  #5 
I need to sell my majority share (100%) of my appraisal company to someone who  is willing to accumulate the loss over time.  I will take 50 bucks.
treskirkland

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Registered: 03/18/11
Posts: 347
Reply with quote  #6 
Snap 2014-01-27 at 09.32.53.png 
MEP

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Registered: 01/26/09
Posts: 1,792
Reply with quote  #7 
I wouldn't do a desk review for that much less go out and do the field work.

MEP
Merkin

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Registered: 02/07/13
Posts: 1,590
Reply with quote  #8 
Is that reasonable or just customary?

You can't judge a fee based on one assignment.  I have done assignments where if the reader were looking they would think I did it real cheap but it doesn't give the whole story.

Some I have re-done for a second lender within a short window and some have been part of a bulk order of several houses that were very similar.

But I doubt that was the case here.

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treskirkland

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Registered: 03/18/11
Posts: 347
Reply with quote  #9 
Quote:
Originally Posted by MEP
I wouldn't do a desk review for that much less go out and do the field work.

MEP


Yes, I'm doing a review and my fee is higher....
treskirkland

Platinum Member
Registered: 03/18/11
Posts: 347
Reply with quote  #10 
Quote:
Originally Posted by Merkin
Is that reasonable or just customary?

You can't judge a fee based on one assignment.  I have done assignments where if the reader were looking they would think I did it real cheap but it doesn't give the whole story.

Some I have re-done for a second lender within a short window and some have been part of a bulk order of several houses that were very similar.

But I doubt that was the case here.


I have too, but that is typically when dealing directly with the lender, generally a local bank.  Not very likely for an AMC.  This was a purchase appraisal so I doubt it was part of a bulk deal.     Also, I have seen other appraisals ordered by SL, completed by different appraisers where the fees were $200-$225.

Certainly not reasonable, I guess in theory since they have people willing to do it for that they could make a case for it being customary.


MEP

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Registered: 01/26/09
Posts: 1,792
Reply with quote  #11 
I have been working with Home Adviser for the past few years but the fees are so low, I am dropping out. I really don't care what others make but I just cannot understand why people are cutting their fees. I haven't done much this month but My lowest fees were 2055s at $325.00, the money is out there if you demand it. Today's discount is tomorrows price!

MEP
dunwoodyappraiser

Gold Member
Registered: 04/01/12
Posts: 93
Reply with quote  #12 
I agree MEP, you can't make a living charging $200 for appraisals considering all of our expenses and the time taking comp.photos and everything required in appraisals these days (2 listings etc).  Too bad everyone doesn't see it that way! 
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