ES Appraisal Services - Appraisers Blogs

Outraged Appraisers Owed Money by AMCs!

Mark Skapinetz — Thu, 31 Jan 2019 13:30:08 +0000

“I am owed $20,000”. “I am owed $2000”. “I am owed $500”. “I am owed $1500”. These are just some of the quotes pulled from various groups, message boards and forums from appraisers all over the country that are owed money for the appraisal services they provided. Services they provided for a Lender, Mortgage Company or Bank through an Appraisal Management Company or AMC as they are known. What’s an Appraisal Management Company you ask? Well for those that do not know, AMCs have been around a long time. Appraisal management companies (AMCs) are business entities that administer networks of independent...

It’s Time to Take Out the Junk: AMC Practices Exposed Appraisers have spent years carrying the weight of broken AMC practices, and this article pulls every one of those practices…
The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…

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Closed for Business, Sorry Folks!

Mark Skapinetz — Fri, 14 Dec 2018 13:30:57 +0000

For those who are not familiar with what an AMC is, it is short for Appraisal Management Company. They are not new, but since the adoption of the Home Valuation Code of Conduct, the number and the frequency of their use have increased. They are the order manager for the lender and ensure appraiser independence. If you have not already read “What’s Not in Your Wallet” or “Round and Round!”, go get a little more familiar before reading this. AMCs manage appraisal orders. They find the appraisers to give the orders to, and are supposed to provide quality control reviews...

It’s Time to Take Out the Junk: AMC Practices Exposed Appraisers have spent years carrying the weight of broken AMC practices, and this article pulls every one of those practices…
The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…
The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…

The post Closed for Business, Sorry Folks! appeared on Appraisers Blogs.

The Reality

Guest Author — Fri, 12 Jan 2018 13:30:53 +0000

There is no shortage of appraisers, only appraisers willing to work for Appraisal Management Companies, but there will be a shortage if the current toxic business climate does not change. The AMC business model is based on lies that hurt the consumer and your constituents. There are many voices that have agendas to reduce the qualifications to become a Real Estate appraiser, whether it be a Licensed Appraiser, Certified Residential Appraiser or a Certified General Appraiser. There are also voices that would like the requirements of an appraisal by a person licensed by the state to be waived as there is a...

The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
The Illogical Reality of Mortgage Appraisal Reviews Reforming the appraisal review process is essential to maintaining the integrity of the real estate market and protecting consumers and…

The post The Reality appeared on Appraisers Blogs.

AI Ignored the Residential Appraiser

Guest Author — Mon, 05 Jun 2017 12:30:14 +0000

AI all but abandoned the residential appraiser… I have been a member of the Appraisal Institute (AI) for many years and the organization has always been tilted toward the Certified General Appraiser. I am Certified General and recognized this long ago. I think the education of the AI is the best with no comparison for both residential and commercial and their publications are second to none. The AI has long neglected the residential appraisers as they sent in their $300 per year. The AI completely dropped the ball starting in 2007 when the crash began. The Appraisal Management Company (AMC)...

AI's Effort to Eliminate the ASC! Refocused effort to eliminate the ASC... Why? It’s now much more than rumor. There is a concerted effort to eliminate…
My Day as an Appraiser Big Corporations like CoreLogic are like sharks... This morning, as I do every morning, I made some coffee and began…
AI Current Path is a Serious Issue for ALL Appraisers Time for the AI to cooperate with real estate appraisal state coalitions...? Is it finally time for the AI to…

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JPMorgan Chase Not Liable for AMC Appraiser Fees

AppraisersBlogs — Fri, 12 Jul 2013 12:30:53 +0000

JPMorgan Chase absolved… In a June 27 ruling, the U.S. Bankruptcy Court for the Middle District of Florida permanently absolved JPMorgan Chase of all liabilities for fees due to appraisers as a result of the closure and bankruptcy of Evaluation Solutions, an appraisal management company that provided services to JPMorgan Chase. The court’s decision resulted from an action brought by the bankruptcy trustee, Summit Financial Resources, and by JPMorgan Chase that requested the court approve a settlement to be paid from the assets of the bankruptcy estate to Summit for a loan made to Evaluation Solutions. The loan had been...

The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…
It’s Time to Take Out the Junk: AMC Practices Exposed Appraisers have spent years carrying the weight of broken AMC practices, and this article pulls every one of those practices…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…

The post JPMorgan Chase Not Liable for AMC Appraiser Fees appeared on Appraisers Blogs.

ESA Bankruptcy, Chase Culprit or Victim?

Brian L. Trotrier — Fri, 28 Jun 2013 14:20:42 +0000

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...

The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…
The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…

The post ESA Bankruptcy, Chase Culprit or Victim? appeared on Appraisers Blogs.

Washington State Raises AMC Bond Requirement to $100,000

Peter Christensen — Thu, 06 Jun 2013 12:30:00 +0000

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....

It’s Time to Take Out the Junk: AMC Practices Exposed Appraisers have spent years carrying the weight of broken AMC practices, and this article pulls every one of those practices…
The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…
First the Borrower Fee. Now the Appraiser… Two lawsuits place Class Valuation’s fee transparency and staff-appraiser compensation practices under federal scrutiny. Most appraisal disputes examine only one…

The post Washington State Raises AMC Bond Requirement to $100,000 appeared on Appraisers Blogs.

Stop Chase from Filing Bar Order

AppraisersBlogs — Wed, 22 May 2013 12:30:55 +0000

If you were affected by the bankruptcy of ES Appraisal Solutions then this is a must for you. JP Morgan Chase is filing a request for entry of Bar order with the Florida Courts. What this means is that JP Morgan Chase is trying to settle for $2,316,000. They then would not be liable for any other lawsuits or claims against them in the future regarding any appraisals or BPOs completed. Which means we will NEVER see a dime from the money owed to us. The deadline to file this objection of the bar is May 24th, which means we...

Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…
The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…

The post Stop Chase from Filing Bar Order appeared on Appraisers Blogs.

ES Appraisal Settlement with Chase

AppraisersBlogs — Wed, 22 May 2013 12:00:08 +0000

It has come to my attention that the attached settlement is being proposed to the BR Trustee in the ES Appraisal case and thought that it was important that the information be passed along to whomever might need it since many of our members have been affected. Please forward to whomever you believe might be owed fees in this case. I would recommend that anyone do their own research on this as I am only passing along information that was given to me third hand. It is the belief of others that this agreement will forgo millions of dollars in...

The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…
How to Destroy the Appraisal Profession Anytime the government gets involved in an issue, it tends to have more adverse effects than positive ones. It makes…
The Real Cause of the Home Value Gap Is the Income Gap Blaming appraisers for the income gap will never solve the real underlying problem... Blaming appraisers for the income gap is…

The post ES Appraisal Settlement with Chase appeared on Appraisers Blogs.

Forecasting Your Appraisal Business

Ramir Rodriguez — Fri, 29 Mar 2013 12:30:29 +0000

Improving your financial management through cash flow forecasting Memorize this statement: “Cash flow is the lifeblood of all businesses. Without cash flow your business will die.” I stress this statement often when I talk to appraisers during conferences, meetings, and webinars. Why? Because you are a small business owner first… and an appraiser second! Appraisers do a remarkable job and take great pride in their appraisal work. I recommend that you also take this attitude and approach towards your appraisal business, particularly your cash flow. What Is Cash Flow Forecasting? Cash flow forecasting is defined as planning what cash will come into the business in...

Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…
It’s Time to Take Out the Junk: AMC Practices Exposed Appraisers have spent years carrying the weight of broken AMC practices, and this article pulls every one of those practices…
Is the GSE's "Appraisal Modernization" Really Just… Mass Appraisal tend to exhibit a regressive nature... In the intricate landscape of real estate mortgage financing, the notion of…

The post Forecasting Your Appraisal Business appeared on Appraisers Blogs.

Bankruptcy Declared by AMC

Ramir Rodriguez — Fri, 08 Feb 2013 12:30:51 +0000

AMC Declares Bankruptcy: What Appraisers Need To Know You received a letter in the mail informing you that your client has filed for bankruptcy. It is this moment you realize that this bad news just became your problem. Many of us are familiar with the recent bankruptcy filings of Evaluation Solutions and its subsidiary ES Appraisal Services. Peter Christensen, attorney and general counsel to LIA Administrators & Insurance Services, shared in his blog that the total unpaid fees to appraisers, agents, and brokers as listed in bankruptcy documents is $11,048,411.97! This is a remarkable amount. Evaluation Solutions’ bankruptcy documents accounted for...

The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…
Attorneys General Shady Business Racket at Attorneys General Group Will Ring Familiar to Appraisers The nation’s licensed real property appraisers will recognize a scheme…

The post Bankruptcy Declared by AMC appeared on Appraisers Blogs.

Evaluation Solutions Failure

Peter Christensen — Wed, 30 Jan 2013 12:30:46 +0000

Evaluation Solutions, LLC: The Anatomy of an AMC’s Failure and Why Lender’s Should Care Last week, I had the pleasure of speaking to the Collateral Risk Network about lender oversight of appraisal management companies. With that exciting topic as my general theme, I chose to address the specific issue of AMCs failing to pay independent contractor appraisers for appraisals ordered by the lender-client (and also failing to pay agents and brokers for BPOs). This issue has been brought to the forefront of many appraisers’ minds and bank accounts by the recent failure of two large AMCs: National Real Estate Information...

It’s Time to Take Out the Junk: AMC Practices Exposed Appraisers have spent years carrying the weight of broken AMC practices, and this article pulls every one of those practices…
The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…
Is the GSE's "Appraisal Modernization" Really Just… Mass Appraisal tend to exhibit a regressive nature... In the intricate landscape of real estate mortgage financing, the notion of…

The post Evaluation Solutions Failure appeared on Appraisers Blogs.

Deadbeat AMCs – FBI Wants to Know

Dave Towne — Mon, 28 Jan 2013 12:00:28 +0000

We are passing along this message from Dave Towne: “Ivor Hill has been working with the FBI. Today (1/24/13) the FBI collected all the files he had for JVI and appraisers that are owed money.” “He has asked to ask everyone, and that they ask everyone they know, to spread word that if anyone is owed money from ES Appraisal or any other AMC that went out of business without paying for appraisals to please contact him. He is putting together information directly for FBI investigations.” Please tell your friends to contact Ivor at: ijh@ijhill.com

How to Destroy the Appraisal Profession Anytime the government gets involved in an issue, it tends to have more adverse effects than positive ones. It makes…
Fight Unfair AMC Practices - Leverage State Authorities Alarmed by predatory practices among AMCs, a peer has drafted letters urging appraisers to call on state authorities to address…
Is a Horde of Deadbeat Borrowers Again Walking Among Us? There are signs of a new horde of deadbeat borrowers, but the foreclosure filings are being delayed and masked by…

The post Deadbeat AMCs – FBI Wants to Know appeared on Appraisers Blogs.

Filing a Complaint Against ES Appraisal Services

AppraisersBlogs — Wed, 02 Jan 2013 19:03:58 +0000

Filing a Complaint Against ES Appraisal Services With Arizona Board of Appraisal The Board of Appraisal has received information that ES Appraisal Services, registration #40150, has filed for Chapter 7 bankruptcy and is closing its doors for business. If you have an open invoice on an appraisal completed for ES Appraisal Services in Arizona, which is past the 45 days required by statute, please file a complaint with Rebecca Loar at the Board of Appraisal by January 11, 2013. A.R.S § 32-3675. Payment EXCEPT IN CASES OF BREACH OF CONTRACT OR SUBSTANDARD PERFORMANCE OF SERVICES, EACH APPRAISAL MANAGEMENT COMPANY SHALL...

USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
Limitations for Damages Against Appraisers Why would any damages against an appraiser be more than the actual fee paid to the appraiser? House Bill 53…

The post Filing a Complaint Against ES Appraisal Services appeared on Appraisers Blogs.

Evaluation Solutions Closes Its Doors

AppraisersBlogs — Thu, 27 Dec 2012 17:01:12 +0000

Evaluation Solutions, ES Appraisal Services in bankruptcy… Another AMC is closing its doors. Evaluation Solutions, ES Appraisal Services is in bankruptcy. Appraisers who have been inquiring about money owed to them, are receiving emails stating “Due to unforeseen circumstances Evaluations Solutions, ES Appraisal Services is ceasing operations” and “any inquiries should be directed to Bradley R. Markey…” The following is a letter from their bankruptcy attorney, Stutsman Thames & Markey, P.A.: Our firm has been retained to file a Chapter 7 bankruptcy proceeding for the company. Evaluation Solutions lost its major client earlier this week and was forced to shut...

West Virginia Appraisal Board Scheme The Doomed Quest to Reform a corrupt West Virginia Licensing Board “Board members earn money working for a law firm…
Eminent Domain Attorney Review How Does an Eminent Domain Attorney Critique and Review An Appraisal Upon Which His Client’s Just Compensation Is Based? Attorneys…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…

The post Evaluation Solutions Closes Its Doors appeared on Appraisers Blogs.

ES Appraisal Services - Appraisers Blogs

Outraged Appraisers Owed Money by AMCs!

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Closed for Business, Sorry Folks!

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The Reality

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AI Ignored the Residential Appraiser

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JPMorgan Chase Not Liable for AMC Appraiser Fees

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ESA Bankruptcy, Chase Culprit or Victim?

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Washington State Raises AMC Bond Requirement to $100,000

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Stop Chase from Filing Bar Order

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ES Appraisal Settlement with Chase

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Forecasting Your Appraisal Business

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Bankruptcy Declared by AMC

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Evaluation Solutions Failure

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Deadbeat AMCs – FBI Wants to Know

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Filing a Complaint Against ES Appraisal Services

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Evaluation Solutions Closes Its Doors

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