Tagged: Reasonable & Customary Fees

Appraisal news for real estate appraisers and real estate professionals regarding Reasonable & Customary Fees. News relating to the Appraisal Industry.

Appraiser’s Response to MyAMC Panel Invitation - Appraisers Blogs 24

Appraiser’s Response to MyAMC

Thank you for your invitation to join your panel. I read all your details. They are addressed in the following: I find it unlikely you retain top appraisers nationwide if you think $350 is a reasonable fee in my area. Did you arrive at that by buying Corelogic’s purported ‘independent survey’? I don’t accept 30 day billing from any unproven clients with unspecified volume. Provide a copy of your current Dunn and Bradstreet rating along with a guarantee of a minimum of 25 orders per month, and I will consider deferred billing. Otherwise you would have to pay me by...

Stand Your Ground in Protecting Your Business! 43

Stand Your Ground!

Many states have laws in place that allow citizens to protect themselves and their property without prosecution. In the appraisal profession, you must also stand your ground to protect their business. Social Media is a quick and easy way to communicate. Recently there have been numerous appraisers reaching out and sharing trouble getting paid from some Appraisal Management Companies. Some are claiming they are long time clients with no issues in the past. This is wake up call for all appraisers to pay attention to the economic and financial side of your business. Volume is slowing as school starts and the...

AMC Registration Act, Hybrids Take Another Hit, & Appraiser Liability Webinar 13

Hybrids Take Another Hit

Registration Act, reinserts the definition of “appraisal firm”… Bifurcated (Hybrid) Appraisals Take Another Hit Last week VaCAP shared some information questioning the legality of these products in Virginia. This week Phil Crawford, Voice of Appraisal, talks about the ethical side of them and how appraisers completing these could be on the receiving end of legal actions. Listen to show E206 at Voice of Appraisal NAR Appraiser Liability Webinar On July 17, 2018, the National Association of Realtors along with Peter Christensen from LIA, presented a Webinar on liability issues for appraisers. A strong concern about the certifications exists that open up liability...

Allegations of Price Fixing by FTC Against LREAB: Response Filed 18

Allegations of Price Fixing Rejected by LREAB

LREAB denies FTC’s allegations as factually false & politically wrong-headed… On June 19, 2017, the Louisiana Real Estate Appraisers Board (LREAB) filed a response to the Federal Trade Commission’s price-fixing allegations. In its 15-page response, LREAB denies all FTC’s allegations (see PDF at the end of the article). GENERAL RESPONSE TO THE COMMISSION’S ALLEGATIONS To shore up the integrity of the residential mortgage appraisal process and, thereby, help to avert a recurrence of the real estate-fueled financial crisis of 2007-2009, the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) requires States to empower their real estate licensing agency,...

LREAB Response to FTC Allegations 15

LREAB Response to FTC Allegations

FTC seeking to punish LREAB for following federal regulatory mandates… BATON ROUGE, LA (May 31, 2017) – In an administrative complaint filed today by the Federal Trade Commission (FTC), it was alleged that the Louisiana Real Estate Appraisers Board (LREAB) had fixed the minimum price of residential real estate appraisals by enforcing the Board’s obligations under federal law to ensure that appraisers are paid customary and reasonable fees for their services. Bruce Unangst, Executive Director of the Louisiana Real Estate Appraisers Board (LREAB), said: “Respectfully, the FTC is just plain wrong. By issuing this legally faulty and factually incorrect complaint,...

Paying Too Much For Appraisals? 36

Paying Too Much For Appraisals?

Why am I paying more than TWICE the amount paid to the appraiser? I was recently charged/paid $750.00 to have the appraisal completed on the home I was purchasing. With the fees and costs associated with obtaining a mortgage, the appraisal fee was one of little to no concern to me BUT then I received a copy of my appraisal. In accordance with local regulations, the appraiser disclosed the amount he was paid to do the appraisal…$275.00 minus a $15.00 technology fee. I thought to myself why am I paying more than TWICE the amount paid to the person who...

Legislators Supportive of Appraiser Issues 5

Legislators Supportive of Appraiser Issues

We need supportive legislators! June 13th is an important date for Virginia Appraisers The Republican Primary is June 13, 2017. VaCAP does not care if you are Republican, Democrat or Independent. We do however; think it is important for you to know of several candidates that are supportive on appraiser issues: Senator Frank Wagner is running for Governor of Virginia. Senator Wagner introduced the successful AMC legislation for 30 day payments to appraisers that goes into effect July 1, 2017. Although the bill for using only third party fees when calculating customary and reasonable fees to appraisers did not move forward,...

CoesterVMS AMC & Brian Coester Sued by Mark Skapinetz, Appraiser 28

Coester Sued by Appraiser

CoesterVMS & Brian Coester have a questionable history with the law… According to a lawsuit filed against CoesterVMS and Brian Coester by appraiser Mark Skapinetz on April 20, 2017, Brian Coester and CoesterVMS have illegally accessed (hacked) his email accounts. The lawsuit alleges violations of the Stored Communication Act, Trespass to Chattel, and Trespass to Land, Conversion, Fraud, and Invasion of privacy. Mark Skapinetz is a Certified Residential Appraiser in Georgia that owns a very active private Facebook page with over 700 members. Mr. Skapinetz has been very vocal about appraisers being treated unfairly by AMC’s and advocates for appraisers.

Skapinetz Believes Appraisers Are Being Held Captive by AMCs 28

Who is Mark Skapinetz?

Mark Skapinetz believes that appraisers are being held captive by AMCs…. Reserved is not a word that anyone would use to describe Mark Skapinetz; at least of those who know him. Shy is not in his vocabulary. Mark is the founder of the “100% Real Estate Appraisers” group on Facebook. He joined me on April 23, 2017 as a guest on The Appraiser Coach Podcast to discuss everything from training the next generation of appraisers to the AMC debacle. Mark believes that appraisers are being held captive by AMCs. Though he works for a handful of AMCs himself (in other...

Preferred Appraiser, the Latest AMC Ploy 15

The Latest AMC Ploy

Oh what fun it is to become PREFERRED… Folks, From various sources I’m learning that you now have the outstanding opportunity to become a "preferred appraiser" with certain AMC’s. What does that mean…really? It means you will have assignments automatically assigned to you at a set (lower than C&R) fee and with a mandated report delivery date pre-selected. This process might even 'help you out' by also pre-scheduling the home visit with the borrower or RE agent for a certain day and time. It matters not that many of the assignments will be the left over highly complex junk properties...

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