Tagged: AppraiserLoft

AMC Vendor Agreement Controversies - Bad, Worst & Ugly AMCs 35

Vendor Agreement Controversies & Worst AMCs

AMC Vendor Agreement Controversies – Bad, Worst & Ugly AMCs And the winner is… According to a recent non-scientific survey conducted by AppraiserNews, the World’s Worst AMC Alive is Clear Capital. Honorable Mention goes to Coester VMS and Streetlinks. And the Worst Vampire AMC title goes to AppraiserLoft which is no longer operational. Excerpt: We’d also like to note the passion with which appraisers made their votes, describing the many ways that these AMCs deserved their titles! One final remark: It is sad that so many appraisers still hesitate to go public with their comments about AMCs, (justifiably) fearing that...

USPAP violations 3

AppraiserLoft Fined for Failure to Pay Appraisers

AppraiserLoft Fined $855,000 for Failing to Pay Arizona Appraisers A Phoenix judge fined the defunct appraisal management company AppraiserLoft $855,000 for failing to pay Arizona appraisers at least 171 times within the past 18 months, the San Diego Union-Tribune reported June 12. The San Diego-based AppraiserLoft has been the subject of numerous non-payment and late-payment claims from appraisers, former employees, advertisers and other parties before shutting its doors in October. The AMC allegedly owes more than $3 million in property valuation invoices. In the Arizona case, administrative law judge Diane Mihalsky found that the AMC failed to pay Arizona appraisers...

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