The issue of staff appraisers at AMCs and more…. Kilts, Labor Shortages, High Performance Homes, Monopolies, Politics, Surveys and a new direction for VaCAP… all within the last 24 hours! Yesterday was the 2017 Virginia Coalition of Appraiser Professionals (VaCAP) Annual Conference, while we discussed our mission, accomplishments and goals, we voted unanimously to change our by-laws to allow our continued growth. Moving forward our processes will be streamlined and we will be offering educational opportunities for our members. We discussed current issues in Louisiana with the FTC and how the outcome will impact the industry throughout the country, monopolistic...
Two AMCs Disciplined by VREAB… At the May 16, 2017, Virginia Real Estate Appraisers Board Meeting two AMC’s were disciplined by the Board. SettlementOne Valuation Corporation was disciplined in Mississippi, Illinois and Pennsylvania, all for unlicensed activity within those states. SettlementOne was required to report the disciplinary action to Virginia within 30 days, which they did not. The Virginia Real Estate Appraisers Board imposed a $2,500 monetary penalty for these violations of the Boards Regulations. Dart Appraisal was disciplined in Minnesota for providing an estimate of value on the engagement letter to the appraiser. Dart Appraisal was required to report...
We need supportive legislators! June 13th is an important date for Virginia Appraisers The Republican Primary is June 13, 2017. VaCAP does not care if you are Republican, Democrat or Independent. We do however; think it is important for you to know of several candidates that are supportive on appraiser issues: Senator Frank Wagner is running for Governor of Virginia. Senator Wagner introduced the successful AMC legislation for 30 day payments to appraisers that goes into effect July 1, 2017. Although the bill for using only third party fees when calculating customary and reasonable fees to appraisers did not move forward,...
CoesterVMS & Brian Coester have a questionable history with the law… According to a lawsuit filed against CoesterVMS and Brian Coester by appraiser Mark Skapinetz on April 20, 2017, Brian Coester and CoesterVMS have illegally accessed (hacked) his email accounts. The lawsuit alleges violations of the Stored Communication Act, Trespass to Chattel, and Trespass to Land, Conversion, Fraud, and Invasion of privacy. Mark Skapinetz is a Certified Residential Appraiser in Georgia that owns a very active private Facebook page with over 700 members. Mr. Skapinetz has been very vocal about appraisers being treated unfairly by AMC’s and advocates for appraisers.
Could Ocwen’s trouble mean more business for appraisers? Ocwen Financial is in trouble with 22 States and the Consumer Financial Protection Bureau. Some states have issued a Cease and Desist Order, others like South Dakota are telling it like it is: “Ocwen does not possess the competence, experience, character, or general fitness required to permit Ocwen to continue…” Could this mean more business for appraisers? Will these issues be found in other lenders? How will the Real Estate and mortgage market be impacted? Time will tell. In the meantime, read all about Ocwen’s trouble on HousingWire here. In Other News:...
No paid lobbyist, just appraisers talking with the Senators and Delegates about the abuses of some AMCs… Governor McAuliffe signed SB1573 into law requiring appraisal management companies to pay within 30 days of the initial delivery. This becomes law July 1, 2017. Here is how it happened…. Two appraisers, both small business owners, sat down and had a conversation with Senator Frank Wagner about some of the issues appraisers are facing. By the end of the conversation, the three were on the phone with a representative of Legislative Services drafting the verbiage of the bills needed to help protect the...
Disciplinary action against 2 AMCs for late payment & operating without license You just have to shake your head at what they try to pull off! At the February 14th Virginia Real Estate Appraisers Board Meeting, Independent Settlement Services and Landmark Network were each disciplined for violations of Virginia AMC Regulations. Independent Settlement Services was disciplined for not disclosing prior disciplinary action in North Carolina. North Carolina audited them and found only 75 times out of 579 appraisals, they paid appraisers within 30 days as required by North Carolina law. The state of Nebraska also fined Independent Settlement Services for...
Harmful trend implemented by Collateral Underwriter and AMCs… There is a new trend starting in our industry! Phil Crawford with Voice of the Appraisal exposes it. The trend is being implemented by Collateral Underwriter and AMCs. It is extremely harmful to the consumer and local communities. VaCAP recommends each appraiser, residential and commercial listen to his show. His show is 42 minutes long and worth every second. Listen to the Voice of Appraisal E138 Manipulating Chucky and Alexis Craig!!! 1/28/2017 Great Webinar from Network of State Appraisal Organizations! On January 18th, NSAO sponsored a webinar with Jim Parks with the...
This AMC is Just Wrong & Confused! An AMC sent an appraiser the following email this morning: “…..customary and reasonable fees are compliant under Virginia presumption that rates are based on recent rates paid to a representative sample of providers of appraisal services in the geographic market based on the fee schedules of these providers. Please complete the attached form and submit to:“ Wow are they confused about customary and reasonable fees! This is a severe twist on Virginia Regulations for customary and reasonable fee compensation to appraisers. Virginia Law mirrors the language in the TILA. They are essentially the...
Paid Late, Non C&R fees, Operating Without License AMC Violations VaCAP has learned North Carolina has disciplined Appraisal Nation and Independent Settlement Services for non-payment within 30 days in accordance with North Carolina Law. See the details below. How does this help appraisers in Virginia? The answer is simple, precedence! When the VREAB receives a complaint and determines a violation has occurred, there is guidance in disciplinary actions. On the topic of AMC’s not complying, VaCAP has learned of several AMC’s operating in Virginia without proper licensure. And yes, all of them have been reported to DPOR! We can not...
