A bad decision (and a limited one) in 2013 does not mean Chase is permanently off the hook. Read the judges decision related to a specific barring order. Plaintiffs simply failed to do their jobs! (Demonstrating control over AMC by Chase). “In approving the settlement agreement and the entry of the Bar Order, the court stated, “There is no evidence before the Court that Chase exercised, or had the right to exercise, control over Evaluation Solutions.”

A few subpoenas to chase demanding copies of their agreement with the AMC may have helped prove this. Similarly, ASC regulations concerning the absence of daylight between lender and AMC could have helped.

Im no attorney but even I know if you walk into court completely unprepared you are going to lose. Bankruptcy Trustees are not always the most honorable. Heck, I’ve testified in one case where the prior trustee (an attorney) had gone to jail for stealing the bankrupt estates money!

Anyone owed money should file their claims and if the amount is significant use an attorney to do so.

• Mike Ford, AGA, GAA, RAA, SCGREA, Realtor® February 16, 2019 at 10:54 am

OK, for the inexperienced folks out there not wanting to get stiffed on fees. A business bankruptcy one time is usually a result of incompetency. It should be a warning to ALL to stay away.

Even a hint of a possible pending second bankruptcy should set off all kinds of alarm bells. DO NOT WORK FOR PEOPLE ON CREDIT THAT MAY BE GOING INTO BANKRUPTCY! Require that they collect the fee up front AND pay you before you ever schedule the appointment! If they say no; you have just saved yourself from working a day for free.

JPMorgan Chase Not Liable for AMC Appraiser Fees
https://www.appraisalinstitute.org/JPMorganChaseNotLiableforAMCAppraiserFees/

Appraisers and Agents File Class Action Suit Against Chase
By Isaac Peck, Associate Editor
http://www.workingre.com/wp-content/uploads/2013/10/class-action-lawsuit-filed-against-chase-NL.html

Bankruptcy-Court-Absolves-Chase-of-All-Liability
http://www.workingre.com/wp-content/uploads/2013/10/Bankruptcy-Court-Absolves-Chase-of-All-Liability-NE.html

Jpmorgan-chase-not-liable-for-amc-appraiser-fees
http://appraisersblogs.com/appraisal/jpmorgan-chase-not-liable-for-amc-appraiser-fees/

GOOD LUCK

But how about the lenders that hired them to be their agent and that failed to verify the agent was properly licensed OR had been paying appraisers? A fine that will never be collected is only a Pyrrhic victory.

The next step is that each and every one of those unpaid 274 appraisers needs to invoice the lenders that failed to assure their agents were legally licensed. indirectly violating FIRREA in the process.

Maybe some jail time to go along with the fine will help.

Knowing AMC’s are often the root of the problem (fill in the blank), its this “get mine” attitude in spite of this knowledge (the truth), that is the poison of the profession.

Seek the truth.