Information is circulating from various sources that National Real Estate Information Services (NREIS) will be closing within the next sixty days.

Sources say NREIS employees have been notified that it will be closing.

If you are owed for unpaid appraisal reports, you should contact NREIS immediately and demand payment.

When the shutdown happens, and you are still unpaid, contact NREIS AMC to closethe LENDER directly.  LENDERS are responsible under federal lending regulations for the actions of their AGENTS (such as NREIS), and thus are legally responsible for your fee payment.

If you are in a state with an AMC licensing law, and the law includes a surety bond that can be used for appraiser fee collection**, contact your state to file a complaint and to get the contact info for the bonding company.  File a claim with the bonding company directly.  **Not all states with AMC licensing have this provision.

By Dave Towne, AGA, MAA Owner / Educator
Towne Appraisals, Mount Vernon, WA
Dave Towne on

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