Tagged: AMC

AMC Indemnification & Catchall Certification 7

AMC Indemnification

Appraisers signing off catch-all certification… When we crafted the language in the AMC Act back in 2011-2012, we followed what most every other state included insofar as indemnification was concerned. (225 ILCS 459/165) Sec. 165. Prohibited activities. (8) Requiring an appraiser to sign any sort of indemnification agreement that would require the appraiser to defend and hold harmless the appraisal management company or any of its agents, employees, or independent contractors for any liability, damage, losses, or claims arising out of the services performed by the appraisal management company or its agents, employees, or independent contractors and not the services performed...

Hybrid Appraisals – Why They Are Impacting Appraisal Employment 22

Hybrid Appraisals – Why They Are Impacting Appraisal Employment

How hybrid appraisals may impact your future Appraisers, A day or so ago, I found out about the rebranding of ZAIO into Clarocity, and their purchase of Valued Veterans AMC. The ‘new’ CEO of the Canadian/USA company, formerly ZIAO, now named Clarocity, was recently interviewed. Take the time to actually read this interview. If you have forgotten, ZIAO came into the US in about early 2008 or so with the intent to develop property data bases in most urban areas – with photos, that could be re-used by various entities. They sold ‘zones’ to a number of appraisers, expecting them...

Tell Them to Find Some Other Lesser Experienced Appraiser 16

Tell Them to Find Some Other Lesser Experienced Appraiser

Tell them they are NOT needed in the report. The march of many appraisers who blindly comply with AMC & other lender ‘demands’ to INCLUDE YOUR E&O BINDER PAGE and FULL SIZE LICENSE COPY in every report. Inclusion of your E&O Binder in reports is the quickest and easiest way to have your report challenged, and for you to be sued. Why would you want to do that? Inclusion of your license copy is absurd. Your license info is already in every single report you submit, or hadn’t you noticed that tidbit of info? If AMC clerks tell you that...

Sign VaCAP open letter to AMCs - Appraisal Management Companies 51

Sign the Letter

Sign VaCAP Open Letter to AMCs Fellow Appraisers, A few weeks ago, Virginia Coalition of Appraiser Professionals (VaCAP) sent out an open letter to the AMCs. This letter was republished by many coalitions, and appraiser groups across the country; liked and shared on Facebook and broadcast on several industry blogs. VaCAP received an overwhelmingly positive response from the letter. We even heard from several Realtors applauding our efforts! Activity is still ongoing with comments! Click here to read the letter and comments! We heard you loud and clear… The letter can now be signed by individual appraiser here on AppraisersBlogs. We will...

Appraisers Just Say No to Certain Assignments From Certain Clients 32

Appraisers Just Say No to Certain Assignments From Certain Clients

Some appraisers just say no and refuse to do assignments for low echelon AMCs fishing for cheapest and fastest appraisers… Folks, A very experienced Chief Appraiser, Mr. Greg Stephens, for the largest independently owned appraisal company in the US, Metro-West, has had an article published in National Mortgage Professional magazine, about the state of affairs concerning the so-called “appraiser shortage.” You can read the article here. While this article reveals important details based on appraiser population facts, there is a glaring omission. The omission is relative to “why” certain mortgage lending assignments are being delayed. It is different, and perhaps...

Scheer Motion to Dismiss Coester vs Scheer Lawsuit 25

Scheer Motion to Dismiss Coester vs Scheer Lawsuit

More CVMS Fraud and Coester’s Fraudulent Activities Revealed Robert Scheer, former Coester Senior VP, has filed a motion to dismiss Coester vs. Scheer lawsuit. There are also whispers in the appraisal community that Brian Coester’s motion to dismiss the lawsuit against him was denied. Looks like Scheer vs. Coester lawsuit is going to trial. Scheer continues to reveal more dirt against Coester while appraisers continue to flood social media with comments, and sometimes with humorous reactions: My biggest take away from this is that it is an incredible indictment as to how (potentially) dirty the participants in major AMCs are...

Appraisal Profession: Open Letter to AMCs 92

Open Letter to AMCs

AMCs have failed the appraisal profession, the financial industry and the consumer Dear AMC, Thank you for your interest in our profession. The trial period we have conducted is over and the appraisal profession has determined your services are not needed. The reasons for our decision are as follows: The use of an AMC is not required by any federal or state law. The use of an AMC does not provide any benefit to the appraiser. The use of an AMC does not provide any benefit to the consumer. The use of an AMC has not protected the consumer. The...

Unintended Use & Misleading Appraisal Reports 13

Unintended Use & Misleading Appraisal Reports

Unintended and Potentially Misleading At what point do we ALL say enough? When they insist on unlocked PDF, XML or ENV formats that facilitate recipients in removing portions of appraisal reports they don’t like? Too late. When they blacklist appraisers for refusing to make post effective date contract analysis changes? When they set the fees we charge? When they change the scope of work after assignments are completed? When they LIE to borrowers about how much the ‘appraisal fee’ is? Now we have several that think THEY own MY professional work product? Like HELL they do! Any, repeat, ANY appraiser...

Social Media Spies & the Appraiser- Guess Who's Watching! 18

Why Not the Appraiser? Guess Who’s Watching!

No Time to Spare & Social Media Spies! Business has been crazy! We are hearing from appraisers how swamped they are; 2-3 week backlogs, working late and report writing at 4:30 AM. We are also hearing how tired and stressed they are. AMC and lender demands, updates, scope creep, and revision requests, are all taking a toll. An appraiser posted on Facebook she “broke down in tears” last Friday because she did not know how it was all going to get done. Life is too short to allow this… Take control of your time and your schedule. Spend some time...

ACI Sky Causing Distress for Appraisers 44

ACI Sky Causing Distress for Appraisers

Are you giving in to ACI Sky? An appraiser who will remain anonymous tells us… “within the last week, I have had two issue of concerns with “UAD” compliance and ACI Sky Delivery ( I can hardly write that; as, it is a significant source of stress when I have to deal with it). I have tried to submit reports, with issues that prevented the upload (no surprise with “Sky”). The first involved the 1004MC form. The comparables that were available for the subject were extremely minimal – something like 4-6. The last period only included 1 comparable (no valid...

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