Lenders Allies AMC Negligent Conduct

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Lenders Allies Negligent Conduct, FTC vs LREAB, FNMA UAD SurveyLenders Allies, LLC, an appraisal management company, has agreed to a consent order with the Texas Appraiser Licensing and Certification Board (TALCB). On May 1, 2019 Lenders Allies agreed to a final order neither admitting guilt or denying guilt of violations of  Texas law. The case revolved around the investigation of a complaint against an appraiser, which then lead them to Lenders Allies. The appraiser completed 59 appraisals for Lenders Allies over a period of two years as an employee and at no time was the appraiser on Lenders Allies appraiser panel maintained by the TALCB. Was this an administrative oversight or an attempt to defraud TALCB? Only Lenders Allies will know the truth.

Earlier VaCAP asked the question, should appraisal boards audit AMCs? This case definitely goes into the yes category! See the final order here.

FTC vs LREAB: The Administrative Law Judge DENIED the FTC’s motion for partial summary judgement! This is a positive step for the Louisiana Appraisal Board. See the Judge’s order below and the entire case summary on the FTC’s website.

Excerpt from the Opinion and Order of the Commission

If a defendant can establish that, at the time the various anticompetitive acts alleged here were taken, it had a reasonable basis to conclude that its actions were necessitated by concrete factual imperatives recognized as legitimate by the regulatory authority, then its actions did not violate the antitrust laws.

Fannie & Freddie Want Your Input! Fannie and Freddie have reached out to all stakeholder for feedback on the Uniform Appraisal Dataset as part of their “modernization” efforts. They are asking each appraiser to complete a survey that should take approximately 10-15 minutes. The survey is mainly multiple choice and at the end there is an opportunity to give additional feedback. Sadly, the field only allows 300 characters, so choose you words carefully in what you are trying to relay. If you really want to share more you can contact Fannie Mae directly. To take the survey, click here.


Image credit flickr - Tim Green
VaCAP Board

VaCAP Board

Coalition of individual appraisers working together to unite, promote and protect the collective interests of all appraisal professionals in Virginia; to promote needed changes in laws, rules, regulations, policies and standards affecting all appraisers in Virginia; to observe and report the actions of regulatory, legislative, oversight, and standards-setting entities of the Commonwealth.

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2 Responses

  1. Avatar Gadda Gow says:

    Of course their surveys are temporary unavailable it’s been like that all day

  2. Avatar Lauryn Scott says:

    This is regarding Lenders Allies. As an AMC, I found their main client, Self-Help Federal Credit Union, difficult to work for. They make mortgages primarily to TIN buyers. I found myself continually appraising illegal conversions of SFR’s into SRIP. LA did not back me up on this, nor did the lender. LA is also a slow pay. I was relieved to leave their approved appraiser roster.


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Lenders Allies AMC Negligent Conduct

by VaCAP Board time to read: 1 min