Garbage Replacing Appraisers?

Clarocity Multi Million Dollar Garbage Technology vs. Appraisers

If appraisers were to embrace such garbage, would the demise of this technology be sooner? …14.53 million dollar loss in 2017…

Hey Clarocity, Give it up. It is time to face the facts!

From Clarocity Public Financial Statements:

14.53 million dollar loss in 2017
9.49 million dollar loss in 2016
13.00 million dollar loss in 2015
5.43 million dollar loss in 2014
6.82 Million dollar loss 2013
4.95 million dollar loss in 2012
0.36 million dollar loss in 2011
1.19 million dollar loss in 2010
0.86 million dollar loss in 2009
44.8 million dollar loss in 2008

The 2017 Clarocity’s Annual. Report casts doubt on their survival:

“The Company has insufficient cash resources to meet its short-term commitments. Financing from debt and equity, as well as the forbearance of current creditors, is required for the Company to continue operations.”

Even Clarocity shareholders are saying it is time to give it up. Read what they are saying here.

Even stealing appraisal data, they cannot make a profit…

From MarketWatch:

“Clarocity Corp. engages in the development of an appraiser backed valuation database for virtually every residential property for cities, using a proprietary GeoScore property rating system. It licenses its technology and proprietary process to large appraisal organizations that manage appraisers across various cities in the country and offers its products through its subsidiary: Zone Data Systems LLC. The company was founded by Bradley Stinson on February 20, 2004 and is headquartered in Calgary, Canada.”

Now take a look at all the debt Clarocity has repaid in shares of stock in lieu of cash payments. It is a routine process for them, without any hesitation.

And here is what Clarocity adds to the bottom of their press releases:

About Clarocity Corporation

”Clarocity Corporation provides real estate valuation solutions and platform technologies designed to address today’s dynamic housing market. Our innovative platform is driving the next-generation of valuation solutions such as MarketValue Pro (MVP) and BPOMerge and setting new standards in real estate valuation quality and reliability.

Every day GSE, banking, and investor clients rely on our proprietary solutions to value assets, fund loans, and securitize portfolios. As a fully integrated technology and valuation services company, Clarocity provides a full spectrum of appraisal and alternative valuation solutions. For more information, visit“

Now I have no idea if the statement of the GSE’s using their products is true or not, but I do know Fannie and Freddie are in conservatorship because they were not profitable. The Collateral Underwriter used by the GSEs is seriously flawed and is a costly beast that has no sustainability either. Is Collateral Underwriter a Clarocity product? I sure hope not, but have no idea. The mere thought of my tax dollars being pumped into a company like Clarocity makes me angry.

In March 2017, Clarocity was named the HousingWire Tech100 Winner. They claim the Clarocity “Platform delivers cost-effective and data-driven valuation products”. How can that be? The company has lost millions of dollars each year for the past 9 years. Does this sound very cost effective to anyone?

So now think about this: An employee of Clarocity was name “Valuation Visionary of the Year” by the Collateral Risk Network. What were the standards for such an honor? Was any due diligence done by CRN? Why would any organization honor someone who supports costly inaccurate and inefficient technology that clearly has no sustainability?

Now Serious Questions to Consider:

If a company develops, promotes and sells technology to produce automated values has not made one penny in 9 years, how are appraisers to be replaced by this technology? Clearly the technology will need constant revisions, updates etc. If the company has to continually borrowed millions of dollars to cover daily operating expenses and then issue shares of stock for repayment, this clearly is not a sustainable business model. If appraisers were to embrace such garbage, would the demise of this technology be sooner?

Clarocity Stock closed on May 1, 2018 at $.045 per share. The lowest it has been in the past 12 months.

Clarocity CLY stock

By Fed Up Appraiser

Image credit flickr - Cory Doctorow

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81 Responses

  1. Avatar Scott R. says:

    OK. Interesting stuff. I’m a day trader as well as an appraiser. Gotta fund my retirement somehow. Go to Google and take a look at a Max chart for Clarocity Corp..   symbol CLY. It spiked around $5.19 just prior to the big real estate crash of 2008. It has NEVER recovered. I’m thinking .045 is less than a penny. lol.

    • Retired Appraiser Retired Appraiser says:

      I recommend NVIV. It spiked 100% this week. Been watching it crawl into the bone yard for years. They’re finally on the verge of going somewhere with a bit of a miracle treatment. I expect it will pull back for a couple of days to weeks before taking off again. Patience is mandatory with this company. Institutional investors are finally taking notice again after their did a reverse split a week or so ago to put it back on their radar. Not saying it’s a guarantee by any means but it’s certainly worth doing research on.

      • Mike Ford Mike Ford says:

        Update…they are now only ‘valued’ at 0.005 CDN (About $0.0038 US I’m told).They’ve been holding at half a cent for awhile now…my guess is Canadian Exchange doesn’t list lower than 1/2cent per share. Hope no one invested more than $10.00 back in May.

  2. Avatar E J B says:

    Anyone affiliated with CRN is on my DNU list.

    Bunch of idiot thieving crooked scamming con-men

  3. Avatar TJ says:

    Does anyone else realize the connection between Collateral Risk Network (aka Joan Trice) and Clarocity? Carol Trice, Joan’s sister is the Director of Quality Review Services for Clarocity.  Ernie Durbin is a major share holder of Clarocity. It does not take a genius to figure out what is really going on here.

    • Avatar Marion says:

      Oh but,

      weren’t these the same people that “put out” the Annual C&R Fee Survey by a “disinterested third party”?


      If only there was some law ………………..

  4. From the same wonderful folks that first defrauded appraisers and consumers alike with ZAIO and its $10,000 territories and phony “USPAP compliant” garbage reports?

    Wish I could remember when or where I saw Ernie Durbin in relation to a TAF meeting. Anyway, is it fair to call him a ‘major share’ holder when the share price was only $0.06 a month ago; and $0.05 a few days ago? Already down to $0.045 in just another day? Congrats Ernie ANOTHER NEW LOW for a company founded on low expectations;

    Low lender intelligence

    Low appraiser qualifications

    Low fees

    Low quality

    Low credibility

    Low state and federal oversight

    Low reputation

    I wouldn’t buy a used car from these people. Why would anyone else buy their bull%#&^?

  5. Avatar Marion says:

    Each year, the Collateral Risk Network presents the award in recognition of the person who demonstrates leadership, innovation, professionalism, and one who strives to better the industry for their peers. We will be presenting the award at Valuation Expo in Charleston in March.

    Ernie Durbin is renowned for creativity with technology advancements and industry-wide involvement. Ernie is widely recognized as an innovative leader with vision and foresight. Ernie was nominated by his peers and we are honored to recognize him as the 8th recipient of Valuation Visionary.

    • Avatar Rick G. says:

      Hahaha ! Valuation sell out!

    • Taking a corporate stock from it’s high to an amount that is less than 1/120th of that amount certainly is visionary. So is conning the appraisers that were owed huge amounts of unpaid fees to accept near worthless stocks as compensation. Definitely demonstrates a company or individual who strives to better the industry for their peers. I’m not exactly sure who their peers are aside from other software system designers hustling phony alternative systems in lieu of real appraisals performed to USPAP..

      A company that simply shrugs off such a debacle as ZAIO was and that then holds itself out to be an expert in anything is certainly an example of innovative hutzpah.

      Leadership is exemplified by no one (as far as we know) actually going to jail over the ZAIO fiasco…then again maybe district attorneys of attorney’s general never actually went to one of the presentations.

      I get why Joan’s crn gives him an award. Her sister is an exec at Clarocity. What I cant for the life of me understand is why the national Association of Realtors has him as a featured speaker or panelist at their May 15th meeting on alternative valuation. Has NAR really sunken this far?

      What’s next, a conference on corporate ethics with Wells Fargo  as a featured presenter?

    • Avatar Milton P says:

      I just looked at some of the comments from the shareholders.. OMG. these people actually believe someone will purchase this company and they will make money!  Do they not realize the idiots running the company have never been successful. Not now or in their previous companies that are no longer in business. Clarocity does not have a product people want and the evidence shows no one is buying their garbage.

      The best scenario for the investors is to sell now and cut your losses. When this company goes belly up they will get nothing.

      • Avatar Rick G. says:

        Don’t worry, Corelogic will buy it.

        • Avatar Milton P says:

          CoreLogic only purchases companies that have value. Clarocity has no value. Has not had any value in 9 years according to their own financials.

      • I read those once before too. People talking out their blowholes like they are stock-savvy. Entertaining and eye opening. Proves one doesn’t have to have any brains at all to have money…only to keep it.

        100,000 shares at yesterdays posted price is what, $4,500? I wonder who would have been dumb enough to buy 100,000 shares (at any time)?

        You’d think that the fact it cant be traded (or even offered) on any U.S. Exchange would have been a worth while hint.

    • Mike Ford Mike Ford says:

      “Ernie Durbin is renowned for creativity with technology advancements and industry-wide involvement. Ernie is widely recognized as an innovative leader with vision and foresight. Ernie was nominated by his peers”

      Guess that says a LOT about his peers…and THEIR judgement.

      Sausage, anyone?

  6. Avatar Marion says:


    being a major shareholder doesn’t hurt.

    Wasn’t there something about a dividend and………………….

  7. Avatar Marion says:

    You guys just don’t have the “vision”

  8. Avatar Hooligan says:

    Yea, we need some of them ” thought leaders” up in here !

  9. Baggins Baggins says:

    You know, it’s the modeling that is not working. Amc’s are like telecoms with an ever shrinking, permanently limited call list. The notion they would be able to go public and pay both investors and overhead on the down swing, too much overhead I guess. Over 120,000 appraisers with careers ruined, and 10 years later, full circle is finally coming around. If only there had not been the clever multi billion dollar play to leave improperly co mingled fees going, and instead force them to bill separately.

    Oh god, read this, It’s unbearable to read. 10b dollar market, and they’re ‘peeling away’ us antiquated manually orientated appraisers and our antiquated ways.

    Clarocity CEO Shane Copeland talks to Cantech Letter

    These companies don’t just want a piece, they want it all.

    Put that 10,000,000,000 back in the hands of appraisers, watch us flourish and work diligently to protect American interests first! Q!

    O.k, I have now figured this out. They’re Canadian. On a related note, the push back against hybrid products likely crushed them.

  10. Avatar TJ says:

    Yea Shane Copland is a talker. He has no clue on how to deliver what he states. Hence, 9 years of multi-million dollar losses to prove he is incapable of delivering.

    • IF he had ever had ability to offer through U.S. Exchange it’s likely SEC would have been after him immediately following ZAIO disaster…some would call a  fraud rather than disaster. I  remember attending a marketing presentation for it with my old business partner. They even had some ex Assistant U.S. Secretary of some BS agency or another as a purported Director & speaker telling us all how ZAIO assignments were all USPAP compliant. We knew it was garbage halfway through the presentation.

      It took that long because we politely gave them the benefit of the doubt through the first half of presentation.

      Well THIS certainly explains how they do what they do for so long.

  11. Avatar TJ says:

    Check this out. Definitely something going on at Clarocity. Stock now at $0.04 per share.

    Should states pull their license to operate?

    • Yes, but not for the cited reason of low stock prices.Clarocity stocks cannot legally be offered for sale in the USA. Canada has no national stock exchange regulatory agency. Its all done on a provincial basis. Clarocity is traded in Calgary I think.

      IF anyone cared, they should have been forced out of business for the ZAIO scam of years ago. My guess is that they are just going to keep throwing you know what against the wall until some moron says “Gee, that smells just like petunias. I think I’ll  have some of that.” Last thing I read about them seemed almost like an exact rehash of the old ZAIO scam being repackaged as a ‘new’ and novel idea..all over again.

  12. Avatar Marion says:

    Shell game ON!

    Find the missing revenue, round and round the accounting goes.

    • Baggins Baggins says:

      A company wide audit for any given major amc would likely yield similar results. ‘Investors’ will be scratching heads wondering why appraisers are making it so difficult to sustain this business model. I vote for mortgage broker management companies. Those guys just can’t be trusted to manage these processes on their own, they need additional telecom based management. Let’s provide separation from saleseman to the customer, that’s where the real protection is needed anyways. If the shoe fits, the companies whom are largely responsible for this should wear it too.

  13. Avatar TJ says:

    Wow. GAME OVER FOR CLAROCITY – This just took a serious turn downward. Clarocity debt is now guaranteed by their 100% owned subsidiary Valuation Vision. Along with it comes much tougher terms.

    So if I understand what just happened by reading between the lines.. The automated technology designed to replace appraisers is not profitable, so the traditional appraisal division is picking up the tab.

    • Baggins Baggins says:

      Clarocity issued an aggregate amount of $467,500 in principal amount of debentures (“Debentures”) at a price of $100 per $100 principal amount of Debenture. The Debentures will bear an interest rate of 24% per annum payable quarterly in common shares (“Common Shares”) or cash, at the option of the holder. The Corporation may on 45 days notice and Stableview may on 30 days notice require repayment of all outstanding Debentures together with any accrued and/or unpaid interest and a 30% repayment bonus. The Debentures have been guaranteed by the Company’s wholly-owned subsidiary, Valuation Vision, Inc. (the “Guarantor”), and have been secured against all of the Company’s and the Guarantor’s property, assets and patents and will be registered in all of the jurisdictions in which the Company and the Guarantor carry on business.

      In addition, the Company issued 1,402,500 common share purchase warrants (“Warrants”). Each Warrant entitles the holder thereof to purchase one Common Share in the capital of the Company at $0.10 per Common Share, exercisable until November 14, 2018.

      • Entitled to buy one share for $0.10 where current shares are only trading at $0.045 SUCH A DEAL!!!

        I’m guessing it was that kind of thinking that made ZAIO the huge success that it was. Oh wait, that was ANOTHER LOSER before it became Clarocity.

        Now with that kind of leadership SURELY they must be entitled to some kind of an award…or maybe speaking position at a NAR conference shouldn’t they?

        • Avatar Scott R. says:

          April 05, 2018: Clarocity Corporation (TSXV:CLY; OTCQB:CLRYF) (the “Company” or “Clarocity”) today announced that it will issue 5,351,210 common shares to debentureholders in lieu of cash as consideration for interest payments due March 31, 2018, for the aggregate amount of $299,668.

          Guess it’s easy to issue over 5 million shares of worthless stock to anyone who was stupid enough to but a debenture from this company. Just my opinion, your opinion may vary slightly.

          Also…..on the balance sheet the absolute highest percentage of assets… in the intangibles. Almost 50%. lol.

  14. Avatar Marion says:

    But wait,
    there is more………….

    Anybody know where Kirchmeyer went????


    • What’s a Kirchmeyer…and should we care?

      • Baggins Baggins says:

        Speculating, but possibly accurate. Solidify chomped them up several years ago.

        Solidifi & Kirchmeyer Join Forces – AppraisersBlogs

        This interesting, Solidifi is more than just Solidif. (pg 5)

        Real Matters Inc. Annual Information Year Ended Sept. 30, 2017

        Related, battle of the tech giants and venture capitalists. Well that’s just wonderful. This last one is not a necessary read but has a lot of name dropping and lends interesting perspective to why powerful companies are so eager to replace regular licensed persons whom would represent individuals. It’s the forest vs trees and subsequent perspective argument. Amc’s no longer see themselves as servicing for lenders or appraisers, they’re positioning themselves as major players in a bigger picture. Very interesting perspective piece.

        Survival of the richest: Real estate’s technology arms race


        • Baggs, the Real Matters report linked above is one of the most eye-opening documents you’ve ever posted. It shows the links between CoreLogic and First American have never been fully severed in terms of human beings from both outfits; Future plans of Solidifi and their corporate parents.

          Also a lot of fodder from both the actual wording as well as reading slightly between the lines.

          I think the admissions of what caused rising appraisal costs and processing times is HUGE! Oddly it appears banks WANT to do the right thing compliance wise, BUT their third party advisors such as Real Matters subsidiaries may be leading them down the primrose path.

          The entire 50 page report is well worth reading.

          • Baggins Baggins says:

            Thank you. That arms race article was also interesting, apparently it’s behind a pay wall now though.

            Marion threw a data bone, I merely fetched it back with clever net research. Solidifi is not just an amc. They are much much larger than that. If appraisers ever wonder why they can’t get ahead with amc’s, it’s because they’re commodities now, no longer classified as service providers. Amc appraisers work for those corporate boards now, it’s the appraisers responsibility to work for less, to keep investors at maximum profit. Appraisers don’t get a vote, they don’t get shares. There is a straight forward axium where the appraiser needs to earn less in order for the controlling amc and title companies to have ‘business growth’. There will never be victory for appraisers with amc’s. There will never be a fair balance with appraisers and amc’s. There will never be an effective and fair compromise. Distinctly separate services should have distinctly separate fees. These companies have nothing to do with appraisal services, it continues to defy logic that appraisers are forced to share a singular fee with corporate administrators. Talk about an imbalanced distribution of power, this is it.

            My take away is that as monopolization of the lending industry continues, corporate profit bottom lines supersede all moral and ethical obligations which were previous mainstays of business modeling in the American appraisal industry.

            How’s ‘globalism’ working out for everyone reading this, on a personal level? Oh Canada! I posted another link, somewhere in the archives, about how a Canadian court provided a data sourcing and ownership ruling which would render the CU system to be illegal, if operated within Canada.

      • Avatar Anonymous says:

        Kirchmeyer & Associates, Inc. Appoints Ernie Durbin as Director of …

        Kirchmeyer & Associates, Inc. Appoint Shane Copeland as Vice …

        Sep 1, 2011 – BUFFALO, N.Y.–(BUSINESS WIRE)–Kirchmeyer & Associates, Inc., a national appraisal, database and real estate appraisal consulting company announced the new hires of Shane Copeland as vice president of national sales and Michele Chochrek as national account executive.

        Nov 4, 2011 – LAS VEGAS–(BUSINESS WIRE)–Kirchmeyer & Associates, Inc., a national appraisal, database and real estate appraisal consulting company announced the new hire of Ernie Durbin as director of valuation technologies. … In his new position, Durbin will be leveraging the strengths of …

        Kirchmeyer & Associates, Inc. Appoints Bill Waltenbaugh as Chief Appraiser

        Jul 14, 2011 – Kirchmeyer & Associates, Inc., a national appraisal, database and real … He began his appraisal career at Durbin & Associates, Inc. in the …

        One month in, AppraiserLoft interim CEO moves on – HousingWire
        Sep 1, 2011 – Shane Copeland is leaving his role as interim CEO at AppraiserLoft to lead the western division of Kirchmeyer & Associates, a collateral ..

        Valuation Vision – REO Pro – Real Estate Default Professionals – Ning
        Mar 1, 2012 – Shane Copeland as vice president of national sales. … introduce myself and the team here at Valuation Vision, a Kirchmeyer Group Company.

        zaio corporation – A Service From Broadridge

        May 16, 2018 – Kirchmeyer Associates and. Principal at ….. Mr. Ernest Durbin is a founder and Chief Valuation Officer of Valuation Vision. Mr. Durbin is based …

        Shane Copeland
        Carlsbad, California
        United States
        Chief Executive Officer and Director CEO of the Corporation and of the Corporation’s wholly owned subsidiary, Valuation Vision, Inc. and Valuation Vision LLC. Prior thereto was employed by Kirchmeyer Associates and Principal at Appraisal Loft

  15. Avatar e. j. b. says:

    Joan needs a new car !!!

    Clearbox is offering additional services to our already existing robust database of AMC state rules and regulations. Our mission is to ensure that our subscribers stay abreast of the changing regulatory landscape. The AMC compliance knowledgebase will be easy tool that you just shouldn’t do without.

    For new customers the cost for a subscription to AREA 56™ will be $1000 a month. For existing customers, the additional cost will be $ 500 a month. This service will include access to:
    1. The database of state laws
    2. Weekly briefing (30 minutes) with our legal counsel to include:

        Update on pending cases such as FTC vs LREAC
        Disciplinary actions resolved and pending
        Updates on new state laws
        Brief Q & A session

    3. Updates of new laws or changes at the state level
    4. Regular, growing library of webinars, with a best practices approach, on compliance topics such as:

        Understanding Background Checks
        Appraiser Selection
        AMC Audits
        Appraiser Independence
        Fee Panel Management
        Third Party Oversight
        Reconsideration of Value Process

  16. Avatar e. j. b. says:

    And Fannie Mae doesn’t give a crap about value, condition or marketability.

    Save your borrowers time and money with a PIW


    Did you know that a property inspection waiver (PIW) can save you up to two weeks in loan cycle time while saving your borrower the expense of an appraisal? A PIW can both reduce costs and shorten the loan origination process by eliminating the need to obtain and review an appraisal, removing the chance of any appraisal-related delays.

    Exercising a PIW offer will also give you Day 1 Certainty®, freedom from reps and warrants on property value, condition, and marketability. Learn more about these benefits and more on the PIW page.

    • EJB- In a best-case scenario you are right. But honestly, how many of all your deals reflect ‘best case’ scenarios?

      The flip side is that when or if that PIW is not authorized it can ADD two weeks to loan processing time because the borrower still has to obtain an appraisal. FIrst, they’ll try a lower-cost hybrid, then a full appraisal when the hybrid garbage defects are apparent.

      Be careful as either a real estate agent OR a loan broker though. If YOU are the guy promoting the PIW you are as a professional advisor that the borrower’s relying upon opening yourself up to liability. Do you have any idea how much other, unrelated information about a loan package comes out in litigation discovery?

      Personally, though I oppose both PIWs and hybrids, I have learned to make lemonade from the lemons. You see, what I have chosen to do as a new revenue source is to market to borrowers that have been victimized by either of these products by offering appraisals to verify whether they have been misled as to value or property conditions; (raising the specter of predatory lending complaints) and the possibility of price misrepresentation lawsuits.

      Heck, it is like shooting fish in a barrel now that data providers are including gross building sizes as well as purported gla totals in data reports that AVMs are based on. DO you have ANY idea how much more we make doing appraisals for court; and as expert witnesses in those cases where your E&O doesn’t throw you under the bus by early settlement?

      I get that all commission salespeople want to get paid as quickly as possible. That’s human nature. It should not, however, tempt you to urge your clients to do things that will leave you personally liable.

  17. Avatar Durbin says:

    Hi all. This comment will likely be buried. But that’s okay.

    Ernie Durbin is my father. He spent a great deal of my childhood taking me with him on appraisals and letting me help him measure with that big measuring tape contraption. Until one day we used a device to measure. That day we measured three times. Once with the electronic device- once with the tape, tried and true, and once more with the electronic device.

    My dad has always been meticulous and forward in technology.

    He has also always been passionate about making appraisers lives easier and coupled with the fact that there aren’t as many people in the field as there used to be- he recognized there was a need for something that could make things better for the person. Not the appraiser the person who is more than appraiser.

    Y’all aren’t talking about my dad, not the real person. You’re letting your frustration at a hurting (although booming) industry get redirected to someone who really just cares about making sure you can make you kid’s or grandkid’s soccer game.

    Or maybe volunteer- whatever you’re into. My dad started making stuff in order to make it to my soccer games. And achieve work life balance. That is his biggest crime. And you know what. It meant lots of traveling for my pops. Lots of time trying to get folks to believe in what he sees for the future.

    I just wanted you to remember that the names on here are real people. With real hopes and dreams and that you should be careful of What you say.

    Obviously if you haven’t been paid that is certainly a place for discontent but be careful with your words aimed at real people.

    I understand anger and frustration but y’all are showing exactly the reason I wouldn’t want to get into appraisals at all. Your spirit is broken. I’m praying for it to heal for all of you angry souls.

    • Avatar Scott R. says:

      Maybe he is the best father ever.

      Maybe he is a great human being.

      And I admit, I do not know the person. Only what his contributions appear to have done to our industry.

      You wrote: “He has also always been passionate about making appraisers lives easier and coupled with the fact that there aren’t as many people in the field as there used to be- he recognized there was a need for something that could make things better for the person. Not the appraiser the person who is more than appraiser.”
      I don’t necessarily need my life to be easier. Faster, faster, faster, quicker, quicker, quicker. FASTER – QUICKER – EASIER…….that’s always been a big part of technologies blaring screams.

      I have always wanted to earn an honest living at doing what I enjoy….being an appraiser. Companies like the now defunct Clarocity NEVER helped me. They were out to make a buck. They added fuel on top of the fire. CoreLogic does the same thing.

      Thankfully I’m almost ready to retire. No thanks to the likes of Clarocity or CoreLogic.

      I am NOT thankful for companies (and individual contributions to those companies) that currently offer appraisers $50 to $150 to sign our name and license to a valuation product. That kind of thinking and the direction it took us has destroyed our profession. And we let it.

    • Baggins Baggins says:

      The ‘real people’ on this side of the desk have been crushed by opportunistic carpet baggers whom have preferred personal gain over the well being of everyone around them. Demanding an entire workforce reduce their wages.

      Spirits broken and praying for souls? Step aside, this is the adult table. When one betrays the trust of an entire industry, expect harsh criticism. Amc’s are morally questionable, as is everyone whom promotes them.

      This is what gets me about naming any individual amc person, because they’re all the same. The amc industry is populated by vultures, people without conscious whom don’t have a problem taking advantage of other people. The managers of the ethical process, are people without ethics themselves. Go figure.

      If anyone wants to make it right, they can whip out a billion dollars and repatriate this entire industry before roughly 40,000 of us are out of work or forced to find new careers in only a few years time. Real world actions. Real world consequences. This ain’t a soccer game or a time management issue. What an interesting trolling position but no, emotional deflection won’t accomplish anything here. Also wish some appraisers would stop talking about how it’s o.k. because they’re about to retire and such, as if that in any way takes the edge off of criminal racketeering. Some of us are nowhere near that point. We need everyone involved.

      • Avatar Scott R. says:

        You had me until this comment “Also wish some appraisers would stop talking about how it’s o.k. because they’re about to retire and such, as if that in any way takes the edge off of criminal racketeering. Some of us are nowhere near that point.”

        If……and it’s a big if that was directed at me…..I did NOT say it was OK what Durbin and Clarocity and all these other AMC’s and giant corporations (CoreLogic) have done to the appraisal profession.

        Spin class is after work….not during.

        If I am misinterpreting what you wrote….MY APOLOGIES.

        • Baggins Baggins says:

          The industry whom used to tell appraisers they had a bright future have now folded their hands and are like, the exit is only a few years away thank god. What about the rest of us? On state boards, quite often the only person whom actually works within the mortgage lending community any more is the amc representative. So many of these people are trying to regulate and control a segment of the industry they personally could no longer abide or navigate themselves. I had a state board member grill me privately on the use of CU XML coding for locational description. I had to tell her to complain to FNMA because I only have a checklist of 5 options. She was an active investigator and had never actually opened up a CU XML compliant 1004 form herself.

          What gets me about amc’s, they have no problem leaving a man behind. They have no problem leaving 9 out of 10 men and women behind, in the pursuit of business expansion and automated profits. Amc’s have adopted socialistic wealth redistribution models. Only those whom pay get to play. Cost savings are not returned to borrowing consumers and all wealth now flows upward to the corporation.

          It is what it is, no apologies are necessary. Appraisers nearing retirement and appraisers whom have abandoned mortgage lending due to amc’s, have more, rather than less of, an obligation to feverishly seek corrective measures to these socialistic business structures. Thank you for being here and making a contribution. Until corrections happen, it’s not enough. Phone a friend and don’t take it personally.

          Wealth redistribution. Price control. Access limitations. Censorship of speech and disclosure. Collusion. Racketeering. Misrepresentation. Accounting fraud. Self asking regulation. Email privacy fraud. Purposefully inadequate individual licensing requirements. The list goes on.

    • Avatar Milton P says:

      Well, he may have been a good Dad, but he was involved with a major fraudulent scheme called Zaio, which transferred into an international fraudulent scheme called Claroicity. Are you aware, your good ole Dad is part of an international fraud investigation? You can defend him all you want, he is not a friend to appraisers. Maybe you will be a loyal and dedicated son and visit him in whatever jail he ends up in. His involvement in international crime will be taken seriously.

      Oh and by the way, I too am a great Dad: Two special needs children that I personally home schooled, took them to every soccer game, tournament, ballet class, dance recital and outings each and every day. I still managed to complete 4-5 appraisals per week, provide food and shelter and send them off to college. I am active with several professional appraisal groups and have attended many congressional hearings concerning the appraisal profession. Being a good Dad has nothing to do with being a true advocate for your profession.

    • Avatar Anonymous says:

      Didn’t you work at Appraiser Loft and Clarocity? Or was that your brother? Swear I remember a son being at both, and being very involved in the software creation, of which, the patent was just transferred to ILA in the recent court approved sale. Dang.

  18. Mr. Durbin, what a great post in defense of your father. One both you and he can rightfully be proud of.

    No one here can be critical of that or your love and belief in who your father is. As a frequent critic of your Dad’s activities, and promotions I can only say that most of us have a different perspective of him.

    Our belief is that his efforts were not to free our time up to spend more with our families or volunteering but rather to free HIS time up to spend more with HIS family. Regardless of costs to the profession and other appraisers.

    Mr. Durbin, we will never convince you to share our views, nor would most of us want to. No son or daughter should see his or her father as anything less than a personal hero. Even adult children.

    Personally, I found time to volunteer without the benefit of your Dad’s appraisal shortcutting concepts. It meant some financial sacrifices but none that I regret. I still owe a lot of that time needed for volunteering directly to your Dad though. Many of his actions necessitated us as appraisers taking action to put an end to some of his crazier misguided efforts.

    Mr. Durbin, no doubt your father is a wonderful Dad to you and any siblings. No one wants to take that away. Seriously. However, if you continue to monitor real estate appraisal blogs you will likely continue to hear non-complimentary observations about your Pop. That’s because some of his ideas and promotions did (in our opinions) what may well be irreparable harm to our profession.

    Our spirits are not broken. Your Dad did not have the power to do that. Nor did Brian Coester. Nor have many of the other snake oil hustlers that have tried to undermine our profession. They have taken some of the luster off the joy we all used to feel being honest, hard-working, independent professional appraisers, but they have not broken our spirit. They merely reinforced why WE must be ever vigilant in protecting our own profession and its standards of acceptable performance.

    For my part, I’ll try where possible to depersonalize future criticisms of your Dad. Focusing instead on the actions rather than the person. There may be times when the two cannot be separated. Hopefully, for his part, your dad will share his forward-thinking visions with some other profession so that we do not have to hurt his families’ feelings by our criticisms of his misguided efforts.

    Best wishes to you and your immediate family. Should your father ever abandon the practices that give rise to our criticism, then I would extend those same best wishes to him as well.

  19. Avatar Certresid says:

    Undoubtedly, there are many Clarocity stockholders and investors who are also excellent parents – who unlike Ernie are not walking away from this Clarocity stock scam with millions. Matter of fact, many fine, upstanding stockholders were taken to the cleaners and are going to walk away with empty pockets turned inside out. From having been taken to the cleaners. Would son care to come to their defense?

    So sorry, but as sayings go, people are judged by the company they keep and by those they choose to partner up with – in Clarocitys case it’s the same Appraisal Loft “gang” who with their last scam took fine, upstanding Appraisers (and excellent parents) to the cleaners for millions. Would son care to step forward in defense of the Appraisers and their families whose income was stolen?

    As …I look about…it’s Zaio – all over again – just more shell games – scamming by rebranding. By those using their professional associations and credentials to propel them to the top of the pyramid games

    • Avatar Anonymous says:

      Not just Ernie, but his wife too. Dang, mom is gonna need a new job, cause her husband was her supervisor on the job. And, so to, the son, who was also being supervised by Dad.

  20. Avatar Durbin says:

    I just think y’all are giving him too much credit in your hearts. What I can promise you is that what you all think you know is very one dimensional of these people you demonize- at least on this thread. One dimensional, partial, and therefore incorrect.

    My whole point was not to say my father is a god. It was to say he is a person.

    I understand this is a post about Clarocity so Clarocity folks names are bound to come up but the way most of you are talking about this tells me that you all are hurting and need a scapegoat.

    How about you keep your anger at the banks who asked you to lie and tried to bribe you with money to produce valuations to get loans through. Who forced A need for regulation.

    How about you remember that AMCs were born out of a hope to protect and then got capitalized and bastardized like most things do.

    There is a larger framework here that gets lost on a board like this when names get thrown out- I understand y’all talk about a breadth of things here and have robust lives- I’m not saying the whole place is toxic. I’m saying posts like this get toxic and feel good to rip on some real people when Clarocity is not built of my dad and Shane alone.

    I really appreciated the kind person, willing to say they would _try_ to depersonalize some things. And that is all I’m asking.

    Remember the human behind the name. Remember that every human is a part of an ecosystem and that all of us are out here surviving on a spinning rock we one woke up on.

    If you all ever want to talk and complain about the difficulties that come with the state of what is going on. Leave your email address and I’ll reach out. I’m really good at listening.

    I know your job is hard. I know your life is not made easier by your job. I know that appraisal is a wonderful and challenging task that involves all different kinds of thinking so I know you are all intelligent folk just trying your best to get the most out of life.

    Nobody interesting is universally liked- I get that.

    Last post on this thread – thanks for hearing me out for better or worse. ?

    • Avatar Milton P says:

      Durbin, Your father, not only has been promoting this garbage around the country, he has profited off the backs of appraisers, stole from investors and now is involved with international securities fraud. The moral compass within your father, “the human” is broken. He has no understanding of right and wrong.

      Or think of it this way, he was given a successful appraisal business to him by his parents, he ran it into the ground and now defunct. He was involved in Zaio, ran it to the ground, now defunct, Clarocity, ran it into the ground, now defunct… Do you see the pattern here. The issue is not the other 70-80,000 appraisers, it is your “human” father that does not have the ability to keep a business afloat, because he doesn’t have a product anyone wants. Want to place a wager on how long ILA will be gone? If his product is so wonderful and in demand, his business would be thriving. Three defunct companies later, he is still doing the same thing, promoting the same garbage. Repeating the same thing over and over again does not produce a different result.

      We all know he is your Dad, but please, take your blinders off and face the facts. He did this to himself.

    • Ernie, Banks (to my knowledge) have never had a policy of inflating appraisals. Their commission loan brokers and managers did. Banks had policies with arguably unintended consequences that encouraged the underhanded loan practices we have all seen. Gee bankers that cheat! What a surprise. Also a fundamental reason WHY objective real estate appraisals are needed in the first place.

      THEY were the people that made decisions to use companies like Ocwen, CoreLogic, Real Time/ Solidifi, Clarocity; Appraiser Loft, Coester VMS and a host of others all claiming to have the newest, most sophisticated leveraged, dynamic, innovative systems in place to produce harmonized value-added appraisal services.

      Some names in America will forever be inextricably linked to companies like Clarocity or Collateral Risk Network in a negative fashion.

      ALL one had to do was plant the three magical beans …

  21. Avatar Anonymous says:

    The reality of now is that, the move to get GSE work out from under the FRT definition, means no GSE work requires an AMC, or even a “firewall”. What headlines will the valuation visionaries come up with, to perpetuate myths they are needed? Shall we anticipate the encore performance of the rock stars? But please don’t take any time to consider or grieve for the honest that were economically forced out of an industry they loved, simply because their income could be taken away from them, without consequence.

    Rejoice in their ability to get away and have a more meaningful existence.

  22. Avatar Certresid says:

    Wow. What amazing audacity – to attempt to circumvent responsibility and liability and cast shadows on ancillary industry participants – Appraisers – alleging angry emotional reactions are at the root of dissatisfaction or that a scapegoat is being unfairly and vengefully singled out to appease frustrations.

    Ernie Durban is in fact Co-Founder of Clarocity per CV and if info provided in CV and published elsewhere for public review is not accurate perhaps corrections to statements proffered as being factual should begin with the source.

    To the Durbin – Unlike other message boards (stockhouse) that are monitored for the purposes of damage control – incriminating posts, inquiries, and/or negative commentary is not eradicated, removed or suppressed from public view here.

    • Avatar Anonymous says:

      Certresid said:

      Unlike other message boards (stockhouse) that are monitored for the purposes of damage control – incriminating posts, inquiries, and/or negative commentary is not eradicated, removed or suppressed from public view here.

      I don’t know about that.

      Last night the Durbin post said he did not get into appraising or the appraisal industry, and today, that caveat is missing.

      Dang funny thing this internet. Things magically disappear. Well, at least Bill Gates had the foresight to include the print screen button.

      While Durbin Jr asks us to:
      Remember the human behind the name. Remember that every human is a part of an ecosystem and that all of us are out here surviving on a spinning rock we one woke up on.

      Perhaps he should recognize that the name and person are remembered, right alongside the colleagues that suffered economic damage, emotional distress, and professional torture. So appraisers are being asked to remember the names of those that pillaged and stood upon the dead bodies to proclaim themselves, and now the friends and relatives of the dead bodies should “feel” for the proclamations.

      Isn’t there a bible verse about that? was it 1 John 5:19? Ecclesiastes :10:19? or perhaps it is Jeremiah 11:14?

      I can’t remember. The bible skills are rusty. Maybe Ernie knows.

      • ‘Jr.’ is not posting. Jr. is actually the Ernie Durbin II appraisers are not fond of. An SRA, he is the one that is associated with Clarocity. The writer here “Durbin” referring to his father is Ernie Durbin III. My only searches show he is a software developer – though with no references to clarocity or its products as far as I can tell. Who knows?

        • Avatar Anonymous says:

          No profanities here, but check and see if you can find ANYBODY that worked at Appraiser Loft or ES Appraisal, VMS, or Top Dot, or any of the other entities that went out of business, owing people money, listing those companies on their resumes today.

          As someone else already posted, there are other data sources which have already been heavily edited and scrubbed. So I’m not surprised you can’t find anyone listing Clarocity as their former or current employer, other than maybe the rock star proclamations of days gone by.

          Oh, but, that CV is fantastic. I always wondered what a Chief Appraiser does. Stupid me, I thought they sat around reviewing reports for their clients.

      • Anonymous, rest assure, we don’t edit or delete comments. The only comments we delete are from spammers. We don’t even delete comments posted by trolls but add a troll warning above those comments.

        That being said, you should know that every commenter has 90 minutes to edit their comments from the time they were posted. It is possible that Durbin edited his comment within the 90 minutes window allowed after posting it.

        We edit out profanities!

        • Avatar Anonymous says:

          Depending upon your definition of profanity, you might have missed one, given the venue:
          Durbin said:
          He has also always been passionate about making appraisers lives easier and coupled with the fact that there aren’t as many people in the field as there used to be- he recognized there was a need for something that could make things better for the person.

          Not the appraiser the person who is more than appraiser.

          Care to list some names as examples, Durbin?

          Because this is a profane statement.

        • Avatar Durbin says:

          I didn’t edit anything. So any editing to my post was not completed by me.

          Maybe I shouldn’t have but didn’t. Haha. Such is life.

        • No one did. Anonymous claimed “Durbin post said he did not get into appraising or the appraisal industry, and today, that caveat is missing.”

          The following is still in your original comment “I understand anger and frustration but y’all are showing exactly the reason I wouldn’t want to get into appraisals at all. Your spirit is broken. I’m praying for it to heal for all of you angry souls.”

          Nothing was edited. Looks like Anonymous missed your last paragraph…still there.

          • Avatar Anonymous says:

            Thank you Blogs Team.

            Ernest W. Durbin III – Director Of Infrastructure – Python Software …

            View Ernest W. Durbin III’S profile on LinkedIn, the world’s largest professional community. Ernest W. has 12 jobs listed on their profile. See the complete profile on LinkedIn and discover Ernest W.’s connections and jobs …

  23. Avatar Scott R. says:

    A crook is a crook is a crook is a crook. The spin class starts at what time?

  24. Avatar Certresid says:

    Anonymous asked what Chief Appraisers do. Well, apparently When a company has one Chief Appraiser out running around promoting hybrids because he created software that compares Appraisers to Uber drivers wrt to Technology, they keep a spare on hand to actually function as a Chief Appraiser.

    And Some things just can’t be scrubbed from history, nor forgotten or forgiven that easily;

    AppraiserLoft founder Aman Makkar, citing the wide scope and range of recent legislation and standards regarding appraisals, has also announced the creation of three new positions within the company. Bill Waltenbaugh has been named chief appraiser, Masad Baba has been named chief compliance officer, and Ernest Durbin has been dubbed chief knowledge officer.

  25. Avatar Certresid says:

    And then there’s the Copeland from Appraiserloft who recently resigned from helm of Clarocity and the Zaio crew has beens regurgitated as VIPs creating new personas.

    When all is said and done and the smoke of the grandiose press releases clears and the reality of self aggrandizing CVs and resumes singing the praise of visionaries comes to light – it all amounts to a rat pack that scurries from one sinking ship to board another. And in their wake they leave behind conned investors and theft of Appraisal services.

    • That’s truly the upsetting part. They were treated as credible visionaries by so many lenders, and worse, by federal regulators and rule-makers.

      Their hyperbole and outright lies are what was cited in the FHFA Whitepaper which was subsequently adopted by FFIEC in ‘moving America ahead’…right according to the MISMO blueprint.

  26. Avatar Certresid says:

    And apparently, Zaio and the child prodigy Clarocity it spawned used the same money lenders for a bail out. Who ended up walking away with it all. It would appear that iLOOKABOUT is slated to be the new Sauron.

    • Avatar Anonymous says:

      Yup, and now ILookAbout has the California chapter of Clarocity, which is still operating, if some lemmings are looking for work. But the Canadian stock holders are screwed, with their stock only worth a tax write off. \

      Same people
      Same rip-offs and still lemmings begging behind them for work.

      Pretty sad when Daddy makes half a million a year, as reported in publicly available financials, but sonny has to come to the forty thousand a year crowd to ask for empathy, so Daddy can keep making it better for those that are “more than appraisers.”

      The question for today is, If the programmer has mental health issues, and is writing AI programs, Does the AI evolve with indigenous mental health issues?

      Write your Congressman about mental health issues.

  27. Avatar Anonymous says:

    and because some memories are short……..


    Note the names and dates, follow them through the slaughter of Appraisers and stockholders, and wonder about that AMC final rule that requires states to background check anyone who owns 10% of an AMC.

    Really wonder about what is in those background checks, and what the “pass” criteria is, other than paying for a background check.


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Garbage Replacing Appraisers?

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