Monthly Archive: June 2013

ESA Bankruptcy, Is Chase To Blame Or A Victim? 3

ESA Bankruptcy, Chase Culprit or Victim?

ESA Bankruptcy, Is Chase to Blame or a Victim? I find myself offering thoughts about many strange and unusual situations involving appraiser E&O and risk management in general, but today may be the strangest subject of all – why it appears Chase did nothing wrong in the ESA bankruptcy case. Don’t misunderstand this as meaning I like Chase in the slightest. I strongly disapprove of what Chase has done and continues to do to appraisers using blacklisting, strong-arming, and filing state licensing complaints to force its will on the appraisal profession. I find much of what Chase has done as...

3 Ways Hiring a Trainee Can Help Your Business 3

Business Decision to Hire a Trainee

3 Ways Hiring a Trainee Can Help Your Business It would likely come as no surprise to most appraisers at this point that with the changing demographics and aging of the valuation profession, attracting the next generation remains crucial to the future. With the many opportunities for employment and continued growth, the benefits for those considering pursuing an appraisal career are clear. The advantages to an experienced real estate appraiser of hiring a trainee may be less apparent, but they are no less significant. While there is undoubtedly significant work and time commitment upfront, hiring a trainee can reap long-term...

Washington State Raises AMC Bond Requirement to $100,000 1

Washington State Raises AMC Bond Requirement to $100,000

As a direct result of the recent financial failure of appraisal management companies like Evaluation Solutions and ES Appraisal, the State of Washington recently enacted a new law raising the state’s AMC bond requirement from $25,000 to $100,000.  As of July 28, 2013, all AMCs registered in Washington will be required to carry a bond in the new amount. One of the purposes of the bond is to provide security for payments owed to appraisers by AMCs. If an AMC fails to pay an appraiser in accordance with Washington’s requirements, the appraiser then may have a claim against the AMC’s bond....

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