Ocwen Is In Trouble

Ocwen's Trouble May Mean More Business for Appraisers

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.

Attention Verizon Email Users: Verizon is discontinuing its email service and in order to keep your @verizon.net email address, you will need to migrate to AOL mail. AOL servers have higher spam filters and many legitimate emails will be classified as spam, including VaCAP’s. We are aware of AppraisersBlogs as another industry publication that is being classified as spam. Make sure you add any email addresses to your contact list and make sure they are marked NOT SPAM. You can also turn off the spam filter entirely. If you are impacted by this change and go with another email provider, please make sure we have your new email address.

Facebook: VaCAP has an active Facebook page. This is where many of the day to day interesting articles are shared by VaCAP, coalitions, and many other industry participants. If you have not “liked us” and followed us, please do so. If you come across a good story, please share with us. Being informed about what is happening in the industry is one of the best ways to be successful. See our Facebook page here. For those of you who are not on Facebook, we will still send out communication via email as needed.

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.

VaCAP encourages each appraiser to stay informed with all the industry news. Other publications to follow include Appraisal Today, Working RE Magazine and others found on our website under Appraiser Resources. Click here to go to our website.

Regardless of which industry publication you follow, please support them and their advertisers!

VaCAP Board
Image credit flickr - Schwar
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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3 Responses

  1. Baggins Baggins says:

    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.

  2. 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!

  3. Baggins Baggins says:

    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


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Ocwen Is In Trouble

by VaCAP Board time to read: 2 min