Tagged: AMC

Hybrid Committee Meeting Recap 25

Hybrid Committee Meeting Recap

The Recap The VREAB Committee meeting on hybrid appraisals met last week. The turnout was a decent one. Some traveled a great distance to attend. There were appraisers, assessors, consumers and trade group representatives in attendance. The meeting started with the Appraisal Foundation Video on Hybrid Appraisals. Public comments followed and many spoke and shared their concerns. Examples of hybrid appraisal products were submitted to the committee. Protecting the public was a key discussion and the following existing Virginia laws and regulations were discussed. 54.1-2009 Definition of appraisal- “Appraisal” means an analysis, opinion, or conclusion relating to the nature, quality,...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Is Mr. Brian Coester Being Honest? I'm Skeptical... - Appraisers Blogs 19

Is Mr. Brian Coester Being Honest?

The real question I have is simple: Is Mr. Brian Coester being honest with people, and telling the truth about what REALLY happened? I’m skeptical, but I don’t do business with CoesterVMS. Brian Coester claims “We are not out of business,” as AMC runs into financial difficulty – AMC claims bank made mistake I sure have read lots of first-hand comments from appraisers about either slow pay, or not being paid, for reports completed for CoesterVMS. That makes me highly uncomfortable about accepting any assignment from them, unless they pay the report fee UP FRONT, and they don’t get the report until...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Coester VMS

Open Letter to Taxpayers... Afterall, Taxpayers Aren’t Stupid 32

Open Letter to Taxpayers

An Open Letter to Taxpayers Dear Ms; Mrs. & Mr. Taxpayer: In a recent article published by Housing Wire; authored by Ben Lane (November 20, 2018) it was reported that our federal “regulators” are at it again. “At what?” One might ask. Facilitation of increased LOAN FRAUD & consumer deception with Taxpayers yet again left holding the bag. Click here for the article Back in 1994 (actually it started in 1989-91 when FIRREA was being drafted) the Fed agreed that the loan threshold for banks when an appraisal of real estate would not be required was $250,000. That was roughly...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

coester-vms-bank-accounts-seized 180

Coester VMS Bank Accounts Seized!

VaCAP has been informed the bank accounts of CoesterVMS have been seized. We have received the following email from one of our members. From: *****@coesterappraisals.com> To: Sent: Tue, Nov 20, 2018 10:02 am Subject: CoesterVMS: Accounts Recievables** -I am e-mailing to provide clarity on a letter you may receive from FVC Bank sent by Gilbert Kennedy and Patrick Gil from Shapiro Sher. The letter was sent to provide instructions on account receivables and the proper way of handling them for CoesterVMS as of 11/14/2018. Immediately both Patrick and Gill will be your point of contact for any questions or concerns...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

VREAB to Discuss Concerns Surrounding Hybrid Appraisals 21

VREAB to Discuss Hybrid Appraisals

…concerns on the negative impact on the real estate market… The Virginia Real Estate Appraisal Board Committee on Hybrid Appraisals will meet on Wednesday November 28th @1:00 PM. We ask that all appraisers attend and share your comments on these products. If you are unable to attend we ask that you submit your comments to the VREAB to be shared with the committee. Concerns on if these products comply with: 54.1-2011 which states any assistance by an unlicensed person must be directly supervised by a licensed appraiser. 54.1-2009 Definition of an appraisal which states an appraisal is an opinion, analysis...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Has Mortgage Lending System Improved Due to AMCs? 34

The AMC Dog and Pony Show

From the HVCC to today, can we really say the mortgage lending system has improved due to AMCs? The AMC dog and pony show has been going on for the better part of a decade. Appraisers have been called out for every problem associated with a real estate closing. Ever silent is any talk of better educating Realtors®. They are the ones with the most power in the pricing process, and the majority of so-called “appraisal problems” are because they say it’s a problem. That’s a LOT of power. But somehow, they manage to stay under the radar and no...

1004MC / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News

Ditech, You Are Out of Here... Appraiser Whistleblowers Stepping Forward 3

You Are Out of Here…

The New York Stock Exchange has removed Ditech Holdings from trading due to their share value and volume of shares. According to a HousingWire article, Ditech shares are less than $1.00. It’s been a swift fall in the stock price department for Ditech. When the company emerged from bankruptcy, it began trading under a new symbol, “DHCP.” See the article here. Please watch your receivables. The market is slowing and there is chatter about late payments from several amcs and lenders in social media appraisal groups. Save the Date: The VaCAP conference will be held February 7-8th in Northern Virginia!  More...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

Independent Appraisers Task Force to Overcome the Number Game 12

Independent Appraisers Task Force

Create a task force of only independent appraisers… Appraisers are a minority in the real estate/lending world and tasked as the gatekeepers of mortgage transactions to protect everyone in the transaction from their immediate rapacity. Of the 40 some thousand residential appraisers I have no idea of the exact division of field appraisers to reviewers. I’m guessing that maybe it’s divided in half, or say a third which are reviewers and then there’s probably another third or so that are newer licensed appraisers. So now we have around 20,000 or so Certified Appraisers that are in the field and are...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News

Appraiser’s Response to MyAMC Panel Invitation - Appraisers Blogs 28

Appraiser’s Response to MyAMC

Thank you for your invitation to join your panel. I read all your details. They are addressed in the following: I find it unlikely you retain top appraisers nationwide if you think $350 is a reasonable fee in my area. Did you arrive at that by buying Corelogic’s purported ‘independent survey’? I don’t accept 30 day billing from any unproven clients with unspecified volume. Provide a copy of your current Dunn and Bradstreet rating along with a guarantee of a minimum of 25 orders per month, and I will consider deferred billing. Otherwise you would have to pay me by...

ACI / AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News

Is the Non-appraiser Inspector Worthy of Belief? Can You Believe That? 27

Can You Believe That? Hybrid Appraisal Part 4

…non-appraiser inspector must not provide any significant appraisal assistance… This is Part Four in a series on Hybrid Appraisal. Be sure to read Part One, Part Two and Part Three. The term “hybrid appraisal” (as it’s currently used), means that the appraiser sits at a desk, while someone else (not an appraiser) looks at the property. It appears that the non-appraiser may or may not inspect the interior, measure the improvements – but always takes a front photo, similar to what can be found in MLS listings, or Google Earth street pictures. The basic claim is that the overall process is cheaper and faster, and...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Trending

xml sitemap