Why don’t you bring this to Charles Kirk’s attention @ the NJ Bd of RE Appraisers?

80k appraisers / 20b = $250k per appraiser. That’s before fair distribution based on time of licensing.

For appraisers that continued to take amc orders, you cost your appraisal peers a fortune, and denied yourself even more, knowingly participated in racketeering to defraud consumers. Great job

Mary thompson: class action suit. They should pay all appraisers for billions in lost revenue.

80,000 current appraisers. 20+ billion in lost income over two decades. Three quarter of the appraiser population effectively excluded from being of service to the american public via restraint of trade practices.

Bruce,
Can you DM me?

How about this for Evidence that the owner of an Appraisal Management Company has zero respect or highly experienced and qualified appraisers.

The email was received from the owner of an appraisal management company and claims that with this “cutting-edge valuation technology, your firm can now assign complex, high-paying appraisals to new trainees on their very first day, previously reserved for your most experienced appraisers.”

Ever since Dodd-Frank, this AMC owner was able to convince the majority of small and mid-size banks to hire his AMC as their appraisal ordering company. And, in effect, became the gate-keepers for commercial appraisals in New Jersey.

They don’t hire appraisers based on competency, but instead based on what makes them the most money. As a result, the quality of appraisals completed for lender work in NJ has never been lower.

Now this AMC owner claims that by buying his product, they can replace highly experienced and competent appraisers with appraiser trainees.

AMC’s have done so much harm already to the appraisal industry. This latest scheme seems to be a combination of blending chat GBT with overseas labor (excuse me – “Ingenious International Analysts Collaboration”).

I think I’ve seen it all now.

As far as that letter that was displayed, asking the appraiser to hide information and lie? Wow, that is incredibly evil.

We’re not all like that, thankfully.

Thank you all for doing what you do. I am glad they’re trying to expose this. I think that’s just greed and utter lack of integrity.

also — conveniently remove docs from appraiser profiles (i.e. “missing licenses, E&O, etc.”) to effectively remove them from assignment eligibility -> and has same censoring impact (versus having to legally explain why an appraiser was ‘removed’ from a panel… i.e. for doing their job correctly, disclosing, etc. vs “not playing ball” and being blamed for a loan not closing, delaying LO payout, etc.)

The National Lien and Bond Company has a two minute online help page for all 50 States.

There is either a Notice of Intent to file a lien or Notice of a filed lien.

Hopefully this will help readers to understand which state and the process of defending your work if needed.

It’s really an easy process and strikes fear in a management company, lender or escrow company should the appraiser lock up a loan process due to an unpaid appraisal.

Years ago I would sometimes extend credit to homeowners who claimed they did not have the money to pay for the appraisal upfront.

The borrowers who took advantage of my kindness were surprised when the lien notice appeared in their mail box when they thought they had ripped off an appraiser.

Not all states allow mechanic’s liens. Also should be filing a complaint with the state too.

Good for you. I have had assignments canceled after 1 day of inspection by an amc yet I was paid in full immediately for the assignments . Or else I would put a Mechanics Lien on the property with the county and stop the loan until I was paid in full plus costs of adding and removal costs of the lien.

As an independent contractor appraiser, you have every right to add a Mechanic Lien when people play games with an appraiser and their time.

If I have inspected a property, the full appraisal fee is due whether it is canceled.

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They were creating a counter database of appraiser only reviews. A database of what everyone was paying appraisers. This would have allowed better paying companies to compete for appraisers, rather than appraisers being forced to compete in the blind among each other. In retrospect, this effort would have ended the $20b+ amc fraud in the early stages. They were also integrating Appraisal Advisor into the Alamode software itself. Alamode on the other side was publishing yearly fair fee surveys by parsing all the Mercury data and specifically excluding amc fees. Then although many thousands of appraisers signed up for access, not enough were paid subscribers, and they shut the effort down due to lack of funding. Check your old emails; appraisaladvisor / without a space.
https://twitter.com/AppraisAdvisor

We are going to need individual borrowers as well as appraisers agree to step in as lead plaintiffs.

ARCC is a Research Institute. Nobody can speak for them except through ARCCs webpage itself or posts from their LinkedIn. They have a lot of projects they are working on and a fun announcement coming up. Rest assured they are not staying idle.

No I fired them after they late paid me at 90+ days. That was in 2020.