Latest Bid Scam for Fee & Turn Time Quote
Lately, I and other appraisers who are ‘members’ of Mercury Network have been getting emails with what ‘looks like’ individual “bid requests” to quote fee and turn time for residential properties.
I say ‘looks like’ because the email only has the singular appraiser’s email address showing.
What’s actually been happening is the client is sending multiple emails to individual appraisers via Mercury Network. These emails always have an acceptance window of several hours, which is acceptable (unless 4 hrs or less).
But they are not honoring the time frame window to present a bid, and withdraw the potential assignment, after accepting a bid quote from a ‘fast responder.’ This has happened frequently lately, from different AMCs who use Mercury Network.
The latest one to me came in today at 11:06 am, with the allowance of 9 HOURS to submit a bid. That’s nice, especially for those of us who work in outlying rural areas, and who need to do property research before bidding.
At 11:57 am today, I received the following message via Mercury Network:
Thank you for reviewing the bid opportunity from HVCC Appraisal Ordering. Another bid was chosen for the FHA Appraisal (FNMA 1004) order placed on 12/03/2019. We hope to be able to work with you on a future assignment.
The only recourse an appraiser has with this awful behavior is to immediately accept any and every assignment presented. Then later either modify or decline the wonderful opportunity once requisite research has been done if it’s found that the property is complex.
This is just another reason to move away from mortgage lending assignments. Seek clients who are not game players and give you more respect.