Thank you SOLIDIFI
Jan Bellas breached their past wall of intransigence…
Thank you SOLIDIFI
Wow. That was more painful than I thought it would be.
It’s no secret that I have been an extreme critic of Solidifi in the past. It’s also possible I will be so again in the future. I have not ‘sold out’ or traded my integrity or standards.
What happened is that Jan Bellas of the American Guild of Appraisers, V.P. of Member Services has with great effort (and very little suggestion) breached their past wall of intransigence.
With Solidifi’s Sr. Executives (Mr. “P” in particular) the very first steps in bridge building between Solidifi and appraisers was undertaken. For their part Solidifi objectively reconsidered a dispute that had an appraiser on a fast track to suspension.
As a result, our AGA Member was able to avoid removal from their list as well as any possible further recourse to the state that often follows these kind of issues.
I am appreciative of Solidifi’s senior management taking the time and making the effort to resolve this case.
Small steps have been taken. Some follow-on positive has already resulted.
For my part, I hope they will reconsider their turn time policies and fee structures.
AGA had another instance on the heels of the first issue in which an AGA member alleged violation by Solidifi of appraiser independence. I was asked to help draft a formal letter of complaint to state and federal regulators. After extensive discussions with our member, my take was that Solidifi was RIGHT in their message and intent. We can still quibble over the method of message delivery. Also, peer review is not blindly one sided. We intend there to be an educational element to it when appropriate.
The point is that while our member may have been technically right, he probably could and should have avoided the entire issue. Solidifi was also right (in this instance).
No complaint was filed by us or our member over the appearance of the AIR ‘error’. I suggested to our member that in future cases of this type they should (1) be easily & properly avoided, and (2) when the client asks for support for specific adjustments or suggesting the appraisers own data supported a nominally higher reconciled value to a model match we have just as much obligation to keep open minds as they do to avoid improper influence. As appraisers, we are not always right. When we are not, we are obligated to correct it.
Intransigence by appraisers OR AMCs serves no one’s interests. My hope is that acknowledging credit when credit is due, will help avoid future problems; and that when they unavoidably do arise, that we can continue to work together to resolve them. Perhaps we can build a bigger bridge on this.
Well done, Jan Bellas and thank you Solidifi. Also thank you to our member.
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Don’t start playing for the other team just yet Mike. Locally, (San Diego) Solidify recruits for their Performax Division where they count holidays and weekends and expect reports back in 3 to 4 days FROM ASSIGNMENT at rates below $300. Not to worry though, through their Performax Scorecard you’ll be graded daily, weekly, and receive monthly calls from the regional manager. They have a race to the bottom ($$$) fee structure, with the promise (Depends on your scorecard) of increased volume of work IF YOU PERFORM. Got to love the conversations when their clients pay $600 for VA work (Navy Federal ring a bell Solidifi), but somehow fees in the 200’s are considered to be C&R for conventional loan work FROM THE SAME CLIENT “Navy federal”. As Colonel Sherman T Potter would say “Horse hockey, Buffalo bagels, Beaver biscuits”, pick one for Solidifi.
Seek the truth.
Way to go Jan. Nice job.
If any appraiser is feeling pressure please contact me.
I would appreciate it if you would contact me, John.
Janet H. Miller my email is firstname.lastname@example.org
Did they ever drop the required records checking thing?
From your post Mike, it sounds like Solidifi is a good AMC.
(Can “Good” and “AMC” be included in the same sentence?)