AMC Hires a Convicted Felon as Property Data Collector
The recent case of Paschal Uchendu, a convicted felon awaiting sentencing for orchestrating a $1.2 million armed robbery of a courier van, which he was entrusted to secure, is cause for alarm when it comes to the use of unlicensed property data collectors. One of the largest appraisal management companies, Class Valuation, had hired Mr. Uchendu as one such property data collector despite his criminal background and pending legal issues – clearly demonstrating their lackadaisical attitude towards vetting employees who are tasked with collecting sensitive information about properties and homeowners. Class Valuation is among the six vendors approved by Fannie Mae to handle its new valuation process, which removes traditional appraisers from the equation.
This raises serious concerns about the potential risks posed by criminals using these services as an opportunity to target homes for robberies, sex crimes or other criminal activities – creating substantial liability not only for lenders but also GSEs (Government Sponsored Enterprises), taxpayers, homeowners, borrowers and others who order and rely on property data collection services. The only way to ensure safety and protect all parties involved is by utilizing licensed appraisers or their trainees who are bound by ethics codes, properly vetted through background checks mandated by their respective states in order to ensure safety & security within our communities at large!
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