As Yossarian would say “Catch-22”. IF you are an appraiser, then most states require that you adhere to USPAP. Even as a trainee. The hybrid hucksters don’t want to pay enough to expect USPAP compliant property analysis.

Again….5 bucks….

Corporate is not going to concern themselves with the actual quality of this “5 dollar observation” as they are a private company looking to make a profit. They will just force an appraiser to sign an agreement so that they are not liable. Then will continue to make money off the backs of the appraisers.

Not saying all, but those paying 5 dollars.
??? …..think about the work most ethical appraisers put into a property observation…5 dollars…that is insanity…

Fast food workers are fighting for $15 dollar an hour wage….who would do all this for 5 dollars is beyond me just for starters but…..there must be someone….

And again….who protects the consumer?

Defendant: Does 1-50, Altisource Solutions, Inc.
Plaintiff: Joseph Collins
Cause Of Action: Diversity-Notice of Removal
Court: Ninth Circuit › California › California Southern District Court
Type: Labor › Labor: Other

Collins v. ServiceLink Field Services, LLC et al
Filed: September 14, 2018 as 3:2018cv02142

Defendant: ServiceLink Field Services, LLC, Does 1-50
Plaintiff: Joseph Collins
Cause Of Action: Diversity – Labor
Court: Ninth Circuit › California › California Southern District Court
Type: Labor › Labor: Other

Diana, there is much greater clarification of client relationships now than there was before. Both federal regulators and TAF is on record as saying the lender is the client. The FNMA forms specify it.

Federal Regulators “See no daylight” between the lender and their agent AMCs. The lenders regulatory obligations are not in any way diminished by using an agent (AMC).

This particular suit is essentially generally meaningless to appraisers right now. Except for pointing out that there are very low paid people involved in hybrids and other undefined services, the vendor-vendee relationships are very different I believe.

WE should be contemplating our own class action suits. FWIW I think that lies in the direction of the old FNC class action suit over theft of professional work product. A theft that there is now a mountain of evidence that it is ongoing and includes some of the original participants as well as many new players. A theft that (I believe was 5th Circuit Court of Appeals) has already been recognized. I’ll recheck the court when it’s closer to time to take our own actions.

Anyone interested in interim, write me directly. mike@mfford.com

You cant make this stuff up