Tagged: blacklist

The Con, We Were All Sold a LIE 11

The Con, We Were All Sold a LIE

The Con, a 5 part docu-series premiering August 5, 2020 at 8pm EDT, is an in-depth investigation into the 2008 financial crisis nine years in the making. Through interviews with regulators, former officials, foreclosure victims, industry whistleblowers, and journalists, THE CON connects the dots to what America used to be and where we’re headed in 2020, as nearly 40 million Americans are currently claiming unemployment. Stay tuned for a live conversation with the filmmakers and voices from THE CON after the screening. William Black: “Most things viewers “know” about the Great Financial Crisis (GFC) are false…. The GFC was not...

Appraisal / Appraisal News / Appraisers News

PS - Never Quit! - Appraisers Are Fighting Back all Over the County! 4

PS – Never Quit!

Here we are over 3 and a half years after the article titled “I Do Not Quit, Not Ever!“. No one has quit yet. AGA™ is now a tax-exempt 501(c)(6). We have successfully renegotiated our affiliation agreement with OPEIU and AFL-CIO. The articles of incorporation revised our previous articles of association. In the past two years Jan Bellas and the National Appraiser Peer Review Committee have helped in excess of 185 appraisers get off blacklists; be reinstated with lenders and assisted those wrongfully accused in defending themselves before state regulatory agencies. Anyone that’s dealt with Jan Bellas KNOWS she doesn’t...

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

Loan Officer' Letter Instructing Borrower to Push Appraiser for Value 38

A Little Push Can’t Hurt Right? Wrong!!

…forget the risky position foisted on the consumer by the loan officer… Well, here we go again. In my previous blog posts titled “Round and Round” and “Pressure My Story”, I spoke to examples of how lenders and/or AMCs have been pushing and pressuring appraisers to hit certain values on transactions. If an appraiser did not hit these numbers, or make changes to make the transaction work in the lender’s favor, the appraiser would be threatened with non-payment, removal from appraiser panels, and/or blacklisted. If you haven’t read those blog posts, feel free to go back and have a look....

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Automated Valuation Models

Who Is Really on Your Side? The AGA Fights for Appraisers & Our Industry 5

Who Is Really on Your Side?

The AGA wants to make that change. Do you? We have all seen the the commercials for Nationwide Insurance and that they are on your side. As real estate appraisers do we know who is really on our side? There are so many organizations that represent appraisers. Many claim to help appraisers, many do help appraisers, many are out there to fight for appraisers, many offer education and many just want us to join them in their own agenda journey made up of false narrative and false promises. I’m not here to force you to join anything. I support the...

AGA / Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / The American Guild of Appraisers

Round and Round... 10 Years Later Lender Pressure is Happening Again! 42

Round and Round!

Round and Round, what comes around goes around & 10 years later it’s happening again. I’m a 43-year-old guy and I grew up in the 80’s when music was odd and fun. I had some favorite bands like Def Leppard, Guns N Roses, Bon Jovi (hello I’m from NJ) and Ratt. Yes, Ratt and one of my all-time favorite songs is Round and Round. Here’s the throwback: Ratt – (Official Video) Round And Round Funny, it’s relevant to me today in the valuation, regulatory and real estate appraisal sectors. One specific lyric offers so much insight into the Lender/ Real Estate Appraisal...

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

AMC Abuses? What's Your Story? 85

AMC Abuses? What’s Your Story?

Many of you have filed formal complaints against AMC abuses with State appraisal boards… The place was a small subdivision developed with coastal style homes on the Ocean side of route 12 in the Outer Banks of North Carolina. The bank was Bank of America. The AMC was LandSafe and the time was just before Corelogic purchase of Landsafe for $122 million. I was asked by this AMC to appraise a home for a purchase transaction. My comparable sales consisted of one recent sale of the next door neighbor, one on the same street, and two closed sales in the...

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

Increasing use of AMS to replace AMCs 15

Increasing use of AMS to replace AMCs

AMS on fast track to replace AMCs… Well, it looks like the detritus of HVCC has finally come full circle. AMS (services vs companies) are on the fast track to replace AMCs. AMCs that foster their use haven’t realized that yet. They have given the lenders the tools needed to avoid costly appraisal management oversight departments while at the same time giving them the ability to use only those appraisers willing to make the deals work. They mistakenly believe that by delegating to an AMS or AMC they have met their due diligence requirements.Quality control? Sure. Just ignore the FNMA...

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

Exclusionary List Banning Appraisers 13

Appraiser Exclusionary List

Exclusionary list not discussed in the House Subcommitte hearing… Appraisers, Rob Chrisman, in his column in the Mortgage News Daily e-newsletter on 11/18/16, dropped this tidbit of news: Nationstar Mortgage now maintains and distributes a monthly Appraiser Exclusionary List. Correspondents are encouraged to review the Nationstar Mortgage Appraiser Exclusionary List prior to submitting a loan for loan purchase. That’s all Mr. Christman said about this. A huge problem with these lists is the appraisers involved seldom know they are on one, much less why. Reasons could be trivial, or serious. When appraisers attempt to discuss the situation with the exclusionary...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac

Unintended Use & Misleading Appraisal Reports 13

Unintended Use & Misleading Appraisal Reports

Unintended and Potentially Misleading At what point do we ALL say enough? When they insist on unlocked PDF, XML or ENV formats that facilitate recipients in removing portions of appraisal reports they don’t like? Too late. When they blacklist appraisers for refusing to make post effective date contract analysis changes? When they set the fees we charge? When they change the scope of work after assignments are completed? When they LIE to borrowers about how much the ‘appraisal fee’ is? Now we have several that think THEY own MY professional work product? Like HELL they do! Any, repeat, ANY appraiser...

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

Agents Blacklisting Appraisers 47

No I Won’t Work With This Appraiser

How much power do agents have over the appraisal process? The lender gets a call. Agent tells them that appraiser “X” just called to set up an appointment to do the appraisal for 123 Main St. That darn appraiser killed my last deal and if he is appraising this house, I will have my clients find another lender. I flat-out refuse to work with this appraiser. Whether it’s the listing or buyer’s agent, who put this person in charge of the appraisal process? Does the banker have to listen to them and risk losing the loan? It depends. What’s his...

Appraisal / Appraisal News / Appraisers News

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