Ocwen Is In Trouble
- Federal Valuation Agency Impact on Appraisers & the Public - July 22, 2022
- Is Georgia Going Rogue? - June 13, 2022
- Bias in Automated Valuation Models - February 28, 2022
Could Ocwen’s trouble mean more business for appraisers?
Ocwen Financial is in trouble with 22 States and the Consumer Financial Protection Bureau. Some states have issued a Cease and Desist Order, others like South Dakota are telling it like it is:
“Ocwen does not possess the competence, experience, character, or general fitness required to permit Ocwen to continue…”
Could this mean more business for appraisers? Will these issues be found in other lenders? How will the Real Estate and mortgage market be impacted? Time will tell. In the meantime, read all about Ocwen’s trouble on HousingWire here.
In Other News:
In his most recent show, Phil Crawford, host of “Voice of Appraisal”, talks about liability and eValuations. As we announced a few weeks ago, as of July 1, Virginia will allow appraisers to perform eValuations without USPAP compliance. John Torvi with Landy Insurance outlines your liability with these products. We suggest everyone listen to this show!
Phil has made some exciting changes over the past few weeks. Phil now has an app, and mid-week updates. Listen to his show and check out what is new here.
Save the date: May 16, 2017, The Virginia Real Estate Appraiser Board Meets. The meeting is open to the public and appraisers can receive up to 2 hour of CE for attending. The meeting starts at 10:00 AM at DPOR offices, 9960 Mayland Dr, Richmond, VA 23233.
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Most recent AppraisersBlogs‘ good and informative articles:
The Next AMC Ploy, an article about preferred AMC panels
I must apologize: I got it wrong, a tell all about Quicken Loans
Quit Doing This, Just say NO!, a story about E&O included in your reports.
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The ocwen penalty list is pretty lengthy, it’s quite the read.
And in other news; Brand spanking new article on cellulose insulation fraud.
Cellulose Insulation: Is it Lumber Liquidators 2.0?
If you’re serious about email security you need like xfinity or something from your provider and you must have malware bytes. Setting up a private website will forever remain superior to facebook.
I received an unsolicited email from Anchor Commercial Bank today about their adoption of Collaterral360(tm). Supposedly its an online management system to replace their AMC.
They claim to have listened to ‘me’ in adopting this system which is odd, because I never communicated with them and don’t know enough about this 360 scam er program to support it one way or another.
Im not impressed with the roll out. They sent me something called an EDR Parcel Webinar link with a file suffix that could access my email account without telling me it was being sent. I marked it as junk and blocked the account before I received their explanatory email.
Gee, a system with all the downsides of an AMC and none of the personal charm or pretense of a human being to call when something goes wrong.
I’m not quite ready to turn management of MY business over to someone else’s software yet. All they want in return is my personal tax information, W9, and E&O certificate.
What could possibly go wrong!
The beat skips on.
Google; Ocwen sued / time: past 1 month only.
Lots of state specific, this one caught my eye.
Keep your popcorn out and 3d glasses on, this one is just getting started.
Ocwen Can’t Expedite Constitutional Challenge, CFPB Says