Tagged: Clarocity

Stolen Appraisals Class Action - Theft of Appraisers' Data 85

Theft of Appraisers’ Data

…they charge appraisers an upload fee for the privilege of having their data stolen… I would never allow my data to be used for or by a service that specifically uses to create, modify or enhance products designed to compete with my professional services to the detriment of my business and profession. THAT is something that the Fifth Circuit Court of Appeals identified when they found that CoreLogic’s subsidiary FNC STOLE appraisers data after promising them data security. FNC stole data. We now know FNMA also stole data. Alamode is delving into individuals own personal databases in order to even...

Appraiser Loft like Scam on Appraisers - AMC Owes Appraisers $750K 6

AMC Owes Appraisers $750K

Have Appraiser Loft executives screwed over appraisers again? VaCAP has been tipped off that the investors at Clarocity have uncovered some truly unbelievable facts within Clarocity Corporation. VaCAP was aware many of the Appraiser Loft Executives had landed at Clarocity and had previously shared this information with advise to be careful. According to comments on the Investor Bull Board, Clarocity has pulled off an Appraiser Loft like scam on appraisers and investors. Take a look for yourself here. By the way yesterday, Columbus Day 2018 was the 7 year anniversary of the Appraiser Loft heist! See the HousingWire article here. Clarocity is...

AMC Financial Trouble, The AMC Model Does Not Work 6

AMCs Financial Trouble

The AMC model does not work & these companies are in serious financial trouble… Stand Your Ground: A few weeks ago VaCAP reminded everyone to pay attention to the financial and economic side of your business. The article was titled “Stand Your Ground”. Since that time, we have learned of the following: A VaCAP member shared a retro desktop appraisal request in a rural area. The AMC was paying $75. An appraiser posted on AppraisersBlogs’ repost of our article about being owed thousands of dollars by the same company. See the comment here. Also take a look at the stock...

Limbo Anyone? How Low Will Clarocity Stock Go? 10

Limbo Anyone? How Low Will it Go?

No, I am not really going to talk about a Limbo game. I am referring to the stock of a company promoting hybrid appraisals across the country. Representatives of this company are at every industry meeting, promoting their products, often times invited to speak. You are probably sick of hearing about hybrid appraisals by now and honestly, so am I. So I will keep any verbiage about hybrids in the context of reference only and try not to bash them too much. If you are regular reader of Appraisersblogs, you probably have seen many articles about Clarocity Corporation. A quick...

Fix What is Broken before Replacing the Product 34

Fix It Before Replacing It!

Fix what is broken before replacing the product. Appraisers are talented professionals that know how to take mass amounts of data, filter through it, analyze & make sense of it all. Utilize the talents of the 70,000 plus experienced, licensed professionals & don’t short change the consumer… Yesterday was the National Association of Realtors Real Property Valuation Forum: Rethinking Real Estate Valuations: Alternatives to Traditional Appraisals. First, VaCAP was well represented with 8 members present from all over the state.  There were many of our Network colleagues there as well from all over the country. Thank you for taking the...

Alternatives to Traditional Appraisals 5

Alternatives to Traditional Appraisals

…increasing usage of alternatives to traditional in-person appraisals for valuations in real estate transactions… A California Judge has ruled Wells Fargo must pay $97 million to mortgage employees for not paying employees for the state mandated breaks.  From the article, the Judge sided with the employees and ruled compensation for breaks should include commissions, not just an hourly rate. Just think, this is one state. Don’t most states have similar laws? $97,000,000 x 50 = $4,850,000,000 See the article here. Reminder: The National Association of Realtors, Real Property Valuation Forum presents: Rethinking Real Estate Valuation: Alternatives to Traditional Appraisals The...

Clarocity Multi Million Dollar Garbage Technology vs. Appraisers 39

Garbage Replacing Appraisers?

If appraisers were to embrace such garbage, would the demise of this technology be sooner? …14.53 million dollar loss in 2017… Hey Clarocity, Give it up. It is time to face the facts! From Clarocity Public Financial Statements: 14.53 million dollar loss in 2017 9.49 million dollar loss in 2016 13.00 million dollar loss in 2015 5.43 million dollar loss in 2014 6.82 Million dollar loss 2013 4.95 million dollar loss in 2012 0.36 million dollar loss in 2011 1.19 million dollar loss in 2010 0.86 million dollar loss in 2009 44.8 million dollar loss in 2008 The 2017 Clarocity’s...

AMC Business Model is Based on Lies That Hurt The Consumer 36

The Reality

There is no shortage of appraisers, only appraisers willing to work for Appraisal Management Companies, but there will be a shortage if the current toxic business climate does not change. The AMC business model is based on lies that hurt the consumer and your constituents. There are many voices that have agendas to reduce the qualifications to become a Real Estate appraiser, whether it be a Licensed Appraiser, Certified Residential Appraiser or a Certified General Appraiser. There are also voices that would like the requirements of an appraisal by a person licensed by the state to be waived as there is a...

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Another AppraiserLoft?

If you do work for Clarocity Valuation Services, you definitely should pay attention… Simple Wall St reports: “Clarocity has limited growth and a worrying balance sheet” On November 26, 2017 VaCAP shared an issue with one of our members not receiving communication from Clarocity Valuation Services concerning past due invoices. Due to our research and public sharing, our member was paid. During that time, VaCAP learned some things about Clarocity and we continued to follow the company. We are not going to tell anyone who to do business with or how to operate their business, but we ask that the analytic...

Clarocity May Have Gone Dark.... Have AMCs Gone Dark? 32

Have AMCs Gone Dark?

Clarocity May Have Gone Dark… VaCAP has learned from one of our members the Appraisal Management Company, Clarocity Valuation Services, may have gone dark. The VaCAP member has invoices for their services over 30 days old and Clarocity has been unresponsive to numerous emails and phone calls over the past several weeks. Additionally, new orders are being assigned through their portal, Appraisal Scope. Virginia passed a 30 day prompt payment law that went into effect July 1, 2017. The statute is very clear that an AMC must pay an appraiser within 30 days from the initial delivery of the report....

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