Author: AppraisersBlogs

The Con, We Were All Sold a LIE 11

The Con, We Were All Sold a LIE

The Con, a 5 part docu-series premiering August 5, 2020 at 8pm EDT, is an in-depth investigation into the 2008 financial crisis nine years in the making. Through interviews with regulators, former officials, foreclosure victims, industry whistleblowers, and journalists, THE CON connects the dots to what America used to be and where we’re headed in 2020, as nearly 40 million Americans are currently claiming unemployment. Stay tuned for a live conversation with the filmmakers and voices from THE CON after the screening. William Black: “Most things viewers “know” about the Great Financial Crisis (GFC) are false…. The GFC was not...

Appraisal / Appraisal News / Appraisers News

Appraisal Nation Late Paying Appraisers Again 18

Appraisal Nation’s Payment Issues Again!

In July 2019, appraisers were having payment issues with Appraisal Nation. They were slow paying and when they paid, their checks bounced. Yesterday, they emailed the appraisers on their panel explaining that they have come up against a back log in their Accounts Payable team due to the threat of COVID-19. One has to wonder how are they capable of sending orders to appraisers, collecting the appraisal fees, asking for revision requests, etc. but paying appraisers on time is an issue during the pandemic? Dear Appraiser, We continue to find ourselves living through an unprecedented time as the situation with COVID-19 continues. As...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Trending

Crack in the Foundation? Deep Dive Into the Appraisal Regulatory System 1

Crack in the Foundation?

Phil Crawford with Voice of Appraisal has a great new podcast! Phil interviews author Jeremy Bagott about his eye-opening book titled “Dispatches from the Cosmic Cobra Breeding Farm!” The book breaks down The Appraisal Foundation and provides a rare “behind the scenes” glimpse into the world of appraisal regulation! The author did his homework and takes a deep dive into the appraisal regulatory system structure. The book outlines the shape of “Incorporation by Reference” into regulation and how it disproportionately harms small businesses. The Appraisal Foundation held the “Golden Ticket” for the past 30 years… Who will be next? Enjoy...

Snippets

Amrock Suspends the Use of CA Fee Panel Appraisers to Comply with AB5 22

Amrock CA Fee Panel Appraisers Suspended

Amrock recently sent their California fee panel appraisers an email informing them it will suspend the use of fee panel appraisers in California, in order to comply with AB5 law. Dear Valued Partner, New legislation has recently gone into effect that requires Amrock to suspend the use of fee panel appraisers in the State of California. As we take the difficult steps necessary to comply with this new law, we would like to thank you for all the contributions you have made towards making our partnership successful. We appreciate your dedicated service and we will continue to advocate aggressively for...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Trending

Mortgage Financial Services Puts Appraisers on Timeout for Delays 21

Appraisers on Timeout for Delays!

Early in January, Mortgage Financial Services (MFS) sent out a notice to the appraisers on their panel announcing changes in their turn time policy. In this communication, they state if appraisals are more than 48 hours late, the appraiser will be suspended for 10 business days with no new orders assigned. They also state that the appraiser must request for a longer due date prior to accepting the order, or to raise the appraisal fee for rushes. However, they add, “turn times and fees have to be realistic”. Not long ago, a small number of our clients included penalty clauses...

Appraisal / Appraisal News / Appraisers News / Trending

Beware of Spot Value Solicitations 28

Beware of Spot Value Solicitations

Many appraisers have gotten invitation letters in the mail from Spot Value to join their panel. The letter states that the appraiser was recommended by one of their clients and that their panel is by invitation only! They have a website which makes them look legit. Their address at 2601 Main St, Irvine, CA 92614 is to Century Centre building but they do not provide a suite number. The domain is registered to a Michael Miller who is also the CEO and sender of the invitation letters. We were unable to reach Michael Miller at 919-404-4889. Their greeting message is...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Trending

Zillow in Crosshairs - Zillow Has the Most Flawed Business Models 8

Zillow in Crosshairs

Steve Eisman, the hedge-fund manager famous for betting against the US housing market in 2008 explains why he is shorting online real estate company Zillow. “I would say Zillow has one of the most flawed business models I’ve seen in a very, very long time,” he said during an interview on CNBC. “They had a good business which was their internet real estate platform. The growth in that has slowed dramatically so that now the growth is zero… The most problematic is what they call their, I believe, iHome business, an internet buying business where they actually go out and...

Appraisal / Appraisal News / Appraisers News

iBuying Platforms Misleading Consumers - Honesty in Real Estate Petition 19

Honesty in Real Estate

Stop unfair, deceptive, and abusive iBuying tactics. Consumers are being mislead into believing that heavily funded real estate iBuying platforms are cheaper and easier than using a Realtor. Sign and Share this petition demanding that there be clarity for consumers on these deceitful iBuying platforms. Click HERE. Summary: Real estate agents, and the buyers and sellers they have faithfully represented for decades, are under threat from a small number of technology companies looking to disrupt the real estate industry. This movement began back in 2004 when companies like Trulia and Zillow were formed, and has recently neared a tipping point...

Appraisal / Appraisal News / Appraisers News / NAR / National Association of Realtors / Petition

Faster Cheaper Appraisals! Really Cheap Abbreviated Appraisals... 41

Faster Cheaper Appraisals!

An appraiser shared the following with us. Vintage Mortgage Firm is offering faster cheaper appraisals. New Faster Cheaper Appraisals! Three points: One: We run automated approvals with both DU (Fannie) and LP (Freddie) with the click of one button. This gives us the best chance for appraisal waivers. Have you done a purchase transaction recently with NO appraisal needed? We do them all the time. Two: As of Feb 1st, we will have access to a completely different kind of appraisal if one is needed. First step is a much cheaper $145.00 abbreviated appraisal. This information is put into our...

Appraisal / Appraisal News / Appraisers News / Automated Valuation Models / AVM / Collateral Underwriter

Appraisers Ditching a la mode After News of Corelogic's Acquisition 216

Appraisers Ditch a la mode

In 2015, Dave Biggers of a la mode stated: I’ll wrap up by wishing you a happy new year, in spite of all the recent fear mongering, and by thanking you for supporting us with your business. I’m confident that in 2015 you’ll see even more reasons for that loyalty, especially in terms of us continuing in our long-standing role as the independent appraiser’s staunchest advocate, and in being the most innovative, reliable, and accessible technology provider. We look forward to working with — and for — all of you this year. Time and time again, we were assured that...

a la mode / ACI / AMC / Appraisal / Appraisal Management Companies / Appraisal News

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