Tagged: Virginia Coalition of Appraiser Professionals

coester-vms-bank-accounts-seized 180

Coester VMS Bank Accounts Seized!

VaCAP has been informed the bank accounts of CoesterVMS have been seized. We have received the following email from one of our members. From: *****@coesterappraisals.com> To: Sent: Tue, Nov 20, 2018 10:02 am Subject: CoesterVMS: Accounts Recievables** -I am e-mailing to provide clarity on a letter you may receive from FVC Bank sent by Gilbert Kennedy and Patrick Gil from Shapiro Sher. The letter was sent to provide instructions on account receivables and the proper way of handling them for CoesterVMS as of 11/14/2018. Immediately both Patrick and Gill will be your point of contact for any questions or concerns...

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VREAB to Discuss Concerns Surrounding Hybrid Appraisals 21

VREAB to Discuss Hybrid Appraisals

…concerns on the negative impact on the real estate market… The Virginia Real Estate Appraisal Board Committee on Hybrid Appraisals will meet on Wednesday November 28th @1:00 PM. We ask that all appraisers attend and share your comments on these products. If you are unable to attend we ask that you submit your comments to the VREAB to be shared with the committee. Concerns on if these products comply with: 54.1-2011 which states any assistance by an unlicensed person must be directly supervised by a licensed appraiser. 54.1-2009 Definition of an appraisal which states an appraisal is an opinion, analysis...

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Ditech, You Are Out of Here... Appraiser Whistleblowers Stepping Forward 3

You Are Out of Here…

The New York Stock Exchange has removed Ditech Holdings from trading due to their share value and volume of shares. According to a HousingWire article, Ditech shares are less than $1.00. It’s been a swift fall in the stock price department for Ditech. When the company emerged from bankruptcy, it began trading under a new symbol, “DHCP.” See the article here. Please watch your receivables. The market is slowing and there is chatter about late payments from several amcs and lenders in social media appraisal groups. Save the Date: The VaCAP conference will be held February 7-8th in Northern Virginia!  More...

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Appraisers Tell Their Stories at AppraiserFest - Appraisers Blogs 8

Appraisers Tell Their Stories at AppraiserFest

The entire presentation was filmed and many appraisers were interviewed to tell their stories… Wow…That About Sums it Up! The first ever AppraiserFest has come and gone. Elliot Eisenberg, Bill Black, Jonathan Miller, Ryan Lundquist, and Maureen Sweeney all on one stage; it does not get better than that! This will be a tough act to follow. VaCAP was represented by three Executive Board members and several other members. There were several others from Virginia as well. From as far as Alaska, appraisers came to listen, learn and participate. The central theme of the conference was appraisers; specifically why you...

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Regulators, Appraisers & AMCs Working Together, Appraisers Take on DC 3

Appraisers Take on Washington DC

Hybrids were a big topic & many regulators are concerned about their compliance… Independent Fee appraisers representing 15 different states were well represented in Washington DC this past weekend. Appraisers from  Virginia, North Carolina, South Carolina, West Virginia, Ohio, Louisiana, California, Illinois, South Dakota, Michigan, Utah, Rhode Island, Delaware, Maryland and Washington State joined together in DC for several gatherings. To sum it up simply… Positive Unity among all. On Friday, three members of VaCAP attended the Appraisal Standards Board Meeting. This meeting was live streamed, so hopefully you were able to watch live. Lots of discussions on the proposed changes to the 2020-2021...

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Valuing Properties in 5 to 15 minutes Using Photos...Lightspeed Appraisals 22

Fast, Faster and Really Fast…

Appraiser must be comfortable valuing a property in 5-15 minutes using pictures… Fast, Faster and Really Fast… Take a look at the ad for an in-house appraiser in the Atlanta area. How many of your are good enough to apply for this job? Job description We are looking for Real Estate Appraisers (licensed in GA) to work remotely on an independent contractor basis.. Appraiser will primarily be responsible for valuing properties which are on foreclosure list. Appraiser must be comfortable valuing a property in 5-15 minutes using pictures from field report. The ideal candidate will have experience with valuing distressed...

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Appraiser Loft like Scam on Appraisers - AMC Owes Appraisers $750K 7

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...

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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...

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AMCs Property Inspectors Denied Minimum Wage - Class Action Cases 11

Class Action Against AMCs on the Horizon

Property inspectors suing ServiceLink to obtain minimum wage… Peter Christensen wrote another article on LinkedIn about wages being paid by lenders and AMCs. This one should get your attention as it is from Independent Contractors suing an AMC. This will set a precedent and start a chain reaction. In a nut shell, property inspectors are suing ServiceLink for work performed to obtain minimum wage. Yes, you read that correctly, minimum wage. According to the article, property inspectors receive between $3 and $5 for each assignment. The article does not specify the specific service the property inspectors perform, but think bifurcated or...

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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...

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