Comments on: Coester Surety Bond Claims Exceed Value

By: Julie Sharp

Julie Sharp — Tue, 22 Jan 2019 19:12:59 +0000

Does anyone know if Coester has a Surety Bond in Florida?

By: Baggins

Baggins — Tue, 11 Dec 2018 16:16:29 +0000

In reply to Bill Johnson.

What’s the deal with Scope suddenly getting traction? Mercury is exponentially better than Scope.

By: Bill Johnson

Bill Johnson — Fri, 07 Dec 2018 19:46:51 +0000

In reply to Baggins.

I have a credit union client who only serves San Diego county (3.1 million people), and per Wikipedia they have assets of 3 billion, and serve 200,000 customers. I know for a fact (I have an insider), they have a department of two, that as PART of their job description includes monitoring the appraisal ordering/review process (Mercury Network). They are outstanding to work with, and invite ALL of their vendors to yearly CHRISTMAS parties where we are each recognized.

Although this company has chosen to spend pennies on the dollar out of their own pocket to keep in-house the appraisal ordering, most lenders choose to save the pennies by having THE APPRAISER pay an AMC by way of split fees.

The lenders greed is not $200 per appraisal assignment (AMC split), but rather more disturbing, is pennies per appraisal when a staff of one or two can in a part time way monitor the appraisal procedure.

Seek the truth.

By: chris

chris — Fri, 07 Dec 2018 19:09:25 +0000

In reply to Scott.

They should be !!

By: chris

chris — Fri, 07 Dec 2018 19:08:39 +0000

In reply to Baggins.

Well said !! As usual !!

By: Baggins

Baggins — Fri, 07 Dec 2018 14:28:37 +0000

If the lender would have just paid the appraiser directly, having hired their own small staff to manage appraisal distribution through one of the half dozen distribution platforms readily available to them, they could have saved time, money, and avoided the coming consequences of these types of inevitable amc defaults. More importantly than the name of the amc which defaulted, since the next one is always just around the corner, appraisers should also know which lenders that were using that amc so they may also solicit them directly for relief from the imbalanced and unfair amc distribution structure.

By: Scott

Scott — Fri, 07 Dec 2018 13:46:29 +0000

Aren’t the lender/clients on the hook for payment if their agent, the AMC, defaults?

By: JM2C

JM2C — Thu, 06 Dec 2018 20:52:22 +0000

What a joke. Go straight to the NC banking commission and demand full payment

By: Koma

Koma — Thu, 06 Dec 2018 17:28:46 +0000

Well I guess this answers the previous question about Coester…Is he being honest? Thank you for the updates on this matter. I do not do work for this company, hopefully those who still work for him don’t get burned too bad.