Limbo Anyone? How Low Will it Go?

Limbo Anyone? How Low Will Clarocity Stock Go?

No, I am not really going to talk about a Limbo game. I am referring to the stock of a company promoting hybrid appraisals across the country. Representatives of this company are at every industry meeting, promoting their products, often times invited to speak.

You are probably sick of hearing about hybrid appraisals by now and honestly, so am I. So I will keep any verbiage about hybrids in the context of reference only and try not to bash them too much.

If you are regular reader of Appraisersblogs, you probably have seen many articles about Clarocity Corporation. A quick search shows Clarocity being talked about on Appraisersblogs since June 2014.

There have been stories about appraisers not being paid, stories about Real Estate Agents not being paid, stories comparing Clarocity to AppraiserLoft, a story showing the multi-million dollar losses each year since 2008. Let’s not forget about the high interest rate loans that had to be bought down to 24% because the initial interest rate exceeded the cap allowed in Canadian statute or the repayment of the loans in shares of stock. Certainly you have seen the warnings to watch your receivables if you do work for this company.

Well let me tell you, it has been a long slow ride for Clarocity. Each week, a new record low is set for their stock. Stock prices are currently at $0.015 per share ($0.011 USD). How low must the stock be before Clarocity is removed from the exchange? Caloricity’s future is looking dimmer and dimmer each day. Even the investors talking on the Bull Board are saying it is over.

What is extremely concerning about the demise of Clarocity is they are the strongest promoter of hybrid products and this is their second go around. Remember ZAIO?  They rebranded as Clarocity.

So here are the questions that need to be asked?

  1. If the hybrid product is so great and revolutionary, how can the company behind them be in such trouble? Even with bad management, (which there is) there would be more success than $0.011 USD per share. At the very least, someone would have an interest in purchasing them and they don’t.
  2. Was there ever an investigation into AppraiserLoft? Should there be one into Clarocity?
  3. Is a classic shell game being played on their investors?
  4. Why is Clarocity on the Canadian Exchange when they advertise the majority of their business is in the United States?

Make you own decisions on how to proceed. If you get left with unpaid invoices you have no one to blame but yourself.

By Fed Up Appraiser

Image credit flickr - Paul Sableman

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16 Responses

  1. Avatar Chris says:

    I know a big wig at a national lender who WAS interested in this product a few weeks/months ago. Now apparently they are laughing at it. I think the exact word he used was JUNK.

    And now we find out this is Zaio…..why didn’t you say so in the 1st place….lol

    • I’d question that bigwigs judgment if he still thought there was potential as recently as a few weeks ago. Chris anyone working with them should have known it was ZAIO long ago.

      • Avatar chris says:

        Mike, I’m not sure what you mean, but my big wig friend was asked to analyze those desktop appraisals without inspection or driving comps, he told me the appraiser still has all the liability and said his company would never use a product like that to do their loans. Which is very good news. And my hat is off to you sir you are highly knowledgeable, much more so than me, thank you for the time you give this blog !!!

        • My comment related to the fact that it was under consideration to begin with. In any case kudos to him for rejecting them. He’s right though. ANY appraiser that does one is fully responsible for making sure it completely conforms to USPAP. THAT has been the problem from day 1.

          IF they just said “These are half-assed comp check reports” we’d not be having the discussion. Problem stems from claims they are uspap compliant appraisals. Performed in time frames and for fees so low as to make compliance virtually impossible.

  2. Avatar Advocate says:

    Holy Crap! Look what was just posted on the Bull Board. I don’t see this ending well for any of these people if this is true.


    “News Out!

    Limbo Anyone? How Low Will it Go?

    What is the CEO’s wife Amy Copelands role in Clarocity and how much is she being paid?

    Does Steve James, director of operations, directly report to Zan James, President and what is his pay/options?

    How much is Ernie Durbin’s daughter Maggie paid for her role?

    How is it that both Ernie Durbin, Chief Valuation Officer, and his brother-in-law Bill Waltenbaugh, Chief Appraiser, are both working in nearly identical roles for the company and at what copensation level for both?

    To what extent does Ernie’s wife Velina Durbin recieve pay or appraisal work from Clarocity?

    How is it that Carol Trice, the company’s quality control manager, sister, Joan Trice, head of the CRN, arrive at an independent award for Durbin, one of the only good news press releases for the company in 2018? (Clarocity Executive, Ernie Durbin, awarded as 2018 Valuation Visionary)

    What happened to the purchase of the regression technology by Clarocity from Ernie Durbin and Steve Ferguson and what revenue has this generated since its purchase? (Clarocity Corporation Completes Acquisition of Previously Announced Intellectual Property Assets)

    When was this technology built and was it in off hours while Durbin was working for Clarocity?

    Does Eric Pitt, director of sales, oversee his wife Jennifer Pitt in her sales implementation role? (Clarocity Corporation Names Eric Pitt as Director of National Sales) (FreddieMac Affordable Single-Family Rental Approved Vendor List as of 7/11/18)

    Why are both Eric Pitt and Steve Ferguson Director of Sales for clarocity?

    What is the current relationship between Aman Makkar (AppraiserLoft Announces Leadership Change) and current management?
    That would be 2 Copelands, 4 Durbin’s (1 through marriage), 2 James, 2 Pitt’s and 5 of which are upper management and oversee their spouse.”

    Read more at Clarocity Bullboard

    • Avatar Milton P says:

      That is more than an appreciation of sausage. It is the recipe!

      • Baggins Baggins says:

        I read about 15 pages of the commentary there. Insane. They are like where did the money go, we have been defrauded, and calling it absolutely dead.

        Perhaps Clearbox can draw up another spaghetti map to illustrate to us, her and her sisters insider connections.

        These are the new stewards of ‘ethical appraisal process’? Dirty.

  3. Kimberly Pugh DeFilippis on Facebook Kimberly Pugh DeFilippis on Facebook says:

    Very uplifting news. What you reported means they are dying a slow death. I just wonder…are they the same Clarocity that powers our local MLS?

  4. Avatar Jack Of All Trades says:

    Zaio + Clarocity = Human Garbage

  5. Avatar Mike says:

    I don’t think anyone will even notice they vanish from the landscape. Bad Seeds all the way around.

    • Baggins Baggins says:

      Now that amc’s brought the scam to the regulated stock exchange sector, and defrauded people other than appraisers and regular consumers, some people have already noticed… Rather than just getting shorted like appraisers, they outright got ripped off with their stock investments… Read the linked commentary boards. Some notable unprofessional bickering but also some really good information and insight if you go further back. They are very upset. Apparently they invested in an appraisal management company based on the companies claims, and had not really looked into how destructive and fraudulent ponzi schemes these companies were in the first place. It’s a whole different ball game when a company goes public…

  6. Its official now. No more than a penny stock!

    Ernie; Hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahahha hahahaha hahaha hahaha hahaha hahaha hahahha hahahaha hhahaha hahahaha hahaha hahaha hahhaha hahahaha hahahaha hahahaha hahahahha hahaha hahahahha hahaha hahahahha hahahaha hahaha hahaha hahahaha!


    What was the name of that former U.S. Cabinet level Secretary that used to ‘endorse’ ZAIO for your snake oil shows?

  7. Avatar jared says:

    anyone taking orders from Clarocity?  they just sent over a full 1004 for us….not sure i want to accept..


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Limbo Anyone? How Low Will it Go?

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