National Real Estate Information Services (NREIS) to Close in February
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 the 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.
Guest blogger: Dave Towne, Towne Appraisals, Mount Vernon, WA Dave Towne on e-AppraisersDirectory.com
This entry was posted by admin on January 4, 2013 at 4:15 pm, and is filed under AMC, Appraisal, Appraisal Management Companies, Appraisal News, Appraisers News, National Real Estate Information Services (NREIS). Follow any responses to this post through RSS 2.0.You can leave a response or trackback from your own site.
- Fannie Mae Releases New Selling Guide
- Stop Chase from Filing Bar Order
- ES Appraisal Settlement with Chase
- Appraisal Institute Discusses 2014-15 USPAP Updates
- Appraiser Independence
- Free Webinar on How to Review an FHA Appraisal
- Free Webinar on FHA Appraisal Requirements
- REALTOR® & Appraiser Interaction Under Dodd-Frank
- Response to "A Wakeup Call for the Valuation Industry: Is anybody listening?"
- Survey: Appraisers Confident in Housing Market