Clarocity - Appraisers Blogs

Professional Opinions Can Never Be Replaced

Michael Ford — Wed, 17 Jun 2020 12:30:13 +0000

Professional OPINIONS have value that can never, repeat NEVER be replaced by automation… Earlier this week, George Dell‘s article titled “Why is Residential Appraisal in Trouble?” was published on AppraisersBlogs. Respectfully, George misses or misinterprets a few items. There has been zero evidence that an AVM produces credible approximations of MARKET VALUE consistently or with even an acceptable degree of variance. None. Like George indicates, an AVM is NOT an appraisal. By definition, it is not an appraisal. FIRREA required appraisal standards; NOT banking industry and TAF proposed alternatives. TAF is very far out of line giving AVMs any imprimatur...

USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
Promoting False "Racist Appraiser" Narrative Some Lenders promoting false "racist appraiser" narrative to optimize profits via AVMs Like most businesses lenders want to optimize their…

The post Professional Opinions Can Never Be Replaced appeared on Appraisers Blogs.

Ocwen Financial Is in Trouble

VaCAP Board — Mon, 20 Apr 2020 12:30:43 +0000

VaCAP concerned about Ocwen financial deteriorating condition… We have all been there; you are busy and you lose track of your accounts receivables. Suddenly, you have 45, 60 and 90 day past due invoices. VaCAP wants to remind you to pay attention not only to your receivables, but industry news to make informed decisions going forward. Two days ago HousingWire reported Ocwen Financial is in trouble with the New York Stock Exchange. According to the article, Ocwen stock has been trading below $1.00 for more than 30 days in violation of the NYSE rules. Ocwen runs afoul of NYSE after stock stays below...

USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…
How to Destroy the Appraisal Profession Anytime the government gets involved in an issue, it tends to have more adverse effects than positive ones. It makes…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…

The post Ocwen Financial Is in Trouble appeared on Appraisers Blogs.

Appraisers Not Signing Up with These AMCs

VaCAP Board — Mon, 18 Nov 2019 13:30:54 +0000

Over the past few weeks VaCAP has been hearing from our members on some of the concerns they have with how appraisal management companies are conducting themselves. It started when appraisers on the USDA panel received notifications that USDA was no longer ordering appraisals directly and that task has been outsourced. Verdi Consulting and Jones Lang LaSalle have received the contracts from USDA for appraisal origination. Neither of these companies are licensed as an appraisal management company in Virginia and they are using two appraisal management companies as subcontractors; Valligent and Clarocity. Most appraisers we heard from were highly concerned...

New CA Law Negative Effect for Appraisers Some of you appraiser in California may not realize there is a new law, AB-5, which goes into effect on…
The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…

The post Appraisers Not Signing Up with These AMCs appeared on Appraisers Blogs.

Appraisers Alarmed by USDA’s Poor Decision

Guest Author — Mon, 28 Oct 2019 12:30:40 +0000

Verdi Consulting has no business being involved with appraisals… they have fraud examiners that should have done some due diligence on Clarocity… Nope, not going to happen… I received an email from what appeared to be from USDA. As a long time USDA appraiser, I opened the email: Verdi Consulting, Inc. has been engaged by the United States Department of Agriculture, Rural Development Office as one of two vendors under a Blanket Purchase Agreement (“BPA”) for Nationwide Single-Family Housing Origination Appraisals. The USDA has provided your information as a preferred incumbent Vendor Appraiser. We would like to invite you to...

Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
Dear Representative, FNMA Has Gone Rogue! Dear representative, waiving/eliminating property appraisal for lending purposes is wanton recklessness. Fannie Mae’s decision to waive/eliminate property appraisal for lending…
USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…

The post Appraisers Alarmed by USDA’s Poor Decision appeared on Appraisers Blogs.

Can We Trust Regression…

Guest Author — Mon, 19 Aug 2019 12:30:01 +0000

I would like to give a background as to what prompted this article. A few years back, word on the street was that the Collateral Underwriter was going to be using big data collected directly from our reports from the inception of UAD to aid in determining what should be “reasonable adjustments”. In order to be preemptive, I consulted an acquaintance of mine who just so happened to have a PhD in Statistics from Princeton. We worked through a number of real case scenario data sets to try and figure out if there was a way I could use regression...

Schizophrenic Adjustments Appraisers, I’ve written in the past about what I believe are strange ways to report adjustments in appraisals, and suggested…
Should Adjustments Actually Be Done? How much credit should we give ourselves when it comes to making adjustments? Making adjustments is controversial. USPAP says nothing…
Adjustments: Now What? So, what are these methods and techniques? We’re told to “support” our adjustments. We hear words like “prove” your adjustments... as if…

The post Can We Trust Regression… appeared on Appraisers Blogs.

Hybrid Appraisals, Invitation to Fraud

Michael Ford — Thu, 13 Jun 2019 12:30:12 +0000

Until FNMA released their version of a test format for hybrids (1004P) there was not one hybrid form appraisal process and online form reporting system found that was not egregiously misleading in the entire country. Not one. Not Clarocity’s, nor Clear Capital’s or Mueller Inc. A “typical hybrid” sample follows. https://appraisersblogs.com/clearval-value-hybrid-appraisal Not those crafted in Hyderabad, Pakistan for $8 Billion for just one year’s Wall Street Investments (as published by Cezary Podkul Wall Street Journal) where the preparers claimed to be able to produce 360+ per day by illegally using broker login credentials from state-licensed brokers in America. The entire...

The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…
Dear Representative, FNMA Has Gone Rogue! Dear representative, waiving/eliminating property appraisal for lending purposes is wanton recklessness. Fannie Mae’s decision to waive/eliminate property appraisal for lending…
Top DEI Bosses Have a Problem - Diversity The ranks of the new DEI bosses at the financial institutions are no more diverse than the appraisers their institutions…

The post Hybrid Appraisals, Invitation to Fraud appeared on Appraisers Blogs.

Should AMCs Be Audited?

VaCAP Board — Tue, 07 May 2019 12:30:12 +0000

Why haven’t State Licensing Boards audited AMCs? Things went a bit crazy, but in a very good way! Monday April 29th, VaCAP launched a consumer protection campaign on WRVA 1140 AM News Radio. Our email and social media accounts were non stop. Many of our sister Coalitions in The Network of State Coalitions helped spread the word and shared our Press Release with their members, posted on their websites and on their social media pages. A huge thank you to all our Sister Coalitions for helping us spread the word. In case you missed all the excitement, here is the...

Exposing Occupational Licensing Abuses Nationwide She went from viewing occupational licensing as a necessary means to protect the safety and welfare of the public to…
USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…

The post Should AMCs Be Audited? appeared on Appraisers Blogs.

Clarocity Now Called Zaio Rips Off Appraisers

VaCAP Board — Mon, 15 Apr 2019 12:30:14 +0000

Clarocity changed back to Zaio…screwing over every outstanding appraiser payment… Last week VaCAP shared information on Clarocity Corporation and how the main investor StableView Assets was seizing the shares and foreclosing on the working assets, which includes Clarocity Valuation Services. StableView in turn had an agreement to sell Clarocity Valuation Services to iLOOKABOUT. We warned to proceed with caution or do not proceed at all. We described the situation as a “soap opera.” We continue to monitor them and have learned many things. We debated on sharing this information with everyone, however we feel obligated to keep our members informed. First of concern...

The Real Cause of the Home Value Gap Is the Income Gap Blaming appraisers for the income gap will never solve the real underlying problem... Blaming appraisers for the income gap is…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…

The post Clarocity Now Called Zaio Rips Off Appraisers appeared on Appraisers Blogs.

Clarocity Soap Opera

VaCAP Board — Mon, 08 Apr 2019 12:30:35 +0000

…so what will happen to Clarocity Valuation Services? VaCAP has been following the Clarocity Corporation Soap Opera since one of our members had trouble getting paid from them back in November of 2017. After doing a bit more research on them, we issued a warning to our members in December 2017 to pay attention as Clarocity was in financial trouble. We kept watching and alerted our members that many of the AppraiserLoft Executives were now at Clarocity. We shared Clarocity was borrowing money at a bought down rate of 24% and repaying in stock shares in lieu of cash; all...

The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…
Top DEI Bosses Have a Problem - Diversity The ranks of the new DEI bosses at the financial institutions are no more diverse than the appraisers their institutions…

The post Clarocity Soap Opera appeared on Appraisers Blogs.

AMC’s Shutdown Excuse for Late Payments

VaCAP Board — Mon, 11 Feb 2019 13:30:25 +0000

Clarocity cites possible upcoming government shutdown as excuse to delay payments to appraiser. From our Sister Coalition in Mississippi: “BEWARE if you accept any orders from Clarocity. I got a call from one of our members today telling me that Clarocity is citing the upcoming government shutdown as a reason appraisers may not get paid timely on the orders they are currently sending out. The scope of work and terms of the orders indicate that the appraisals for USDA may not get paid within the 60 day period if the government shuts down. This is really no excuse but if...

AMC Owes Appraisers $750K Have Appraiser Loft executives screwed over appraisers again? VaCAP has been tipped off that the investors at Clarocity have uncovered some…
The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…

The post AMC’s Shutdown Excuse for Late Payments appeared on Appraisers Blogs.

Theft of Appraisers’ Data

Michael Ford — Fri, 19 Oct 2018 12:30:33 +0000

…they charge appraisers an upload fee for the privilege of having their data stolen… I would never allow my data to be used for or by a service that specifically uses to create, modify or enhance products designed to compete with my professional services to the detriment of my business and profession. THAT is something that the Fifth Circuit Court of Appeals identified when they found that CoreLogic’s subsidiary FNC STOLE appraisers data after promising them data security. FNC stole data. We now know FNMA also stole data. Alamode is delving into individuals own personal databases in order to even...

The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…
First the Borrower Fee. Now the Appraiser… Two lawsuits place Class Valuation’s fee transparency and staff-appraiser compensation practices under federal scrutiny. Most appraisal disputes examine only one…
It’s Time to Take Out the Junk: AMC Practices Exposed Appraisers have spent years carrying the weight of broken AMC practices, and this article pulls every one of those practices…

The post Theft of Appraisers’ Data appeared on Appraisers Blogs.

AMC Owes Appraisers $750K

VaCAP Board — Fri, 12 Oct 2018 12:30:18 +0000

Have Appraiser Loft executives screwed over appraisers again? VaCAP has been tipped off that the investors at Clarocity have uncovered some truly unbelievable facts within Clarocity Corporation. VaCAP was aware many of the Appraiser Loft Executives had landed at Clarocity and had previously shared this information with advise to be careful. According to comments on the Investor Bull Board, Clarocity has pulled off an Appraiser Loft like scam on appraisers and investors. Take a look for yourself here. By the way yesterday, Columbus Day 2018 was the 7 year anniversary of the Appraiser Loft heist! See the HousingWire article here. Clarocity is...

The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
The Scam of Racial Discrimination by Appraisers More and more appraisers are retiring every day. Aside from that more and more are changing to lower liability careers.…

The post AMC Owes Appraisers $750K appeared on Appraisers Blogs.

AMCs Financial Trouble

VaCAP Board — Wed, 10 Oct 2018 12:30:20 +0000

The AMC model does not work & these companies are in serious financial trouble… Stand Your Ground: A few weeks ago VaCAP reminded everyone to pay attention to the financial and economic side of your business. The article was titled “Stand Your Ground”. Since that time, we have learned of the following: A VaCAP member shared a retro desktop appraisal request in a rural area. The AMC was paying $75. An appraiser posted on AppraisersBlogs’ repost of our article about being owed thousands of dollars by the same company. See the comment here. Also take a look at the stock...

Limbo Anyone? How Low Will it Go? No, I am not really going to talk about a Limbo game. I am referring to the stock of a…
Another AppraiserLoft? If you do work for Clarocity Valuation Services, you definitely should pay attention... Simple Wall St reports: “Clarocity has limited…
Desktop Appraisals: Has The Devil Infiltrated The… Are desktop appraisals with third-party inspectors protecting the public, or are these products about to destroy the very profession I…

The post AMCs Financial Trouble appeared on Appraisers Blogs.

Limbo Anyone? How Low Will it Go?

Guest Author — Mon, 06 Aug 2018 12:30:00 +0000

No, I am not really going to talk about a Limbo game. I am referring to the stock of a company promoting hybrid appraisals across the country. Representatives of this company are at every industry meeting, promoting their products, often times invited to speak. You are probably sick of hearing about hybrid appraisals by now and honestly, so am I. So I will keep any verbiage about hybrids in the context of reference only and try not to bash them too much. If you are regular reader of Appraisersblogs, you probably have seen many articles about Clarocity Corporation. A quick...

Promoting False "Racist Appraiser" Narrative Some Lenders promoting false "racist appraiser" narrative to optimize profits via AVMs Like most businesses lenders want to optimize their…
The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…
The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…

The post Limbo Anyone? How Low Will it Go? appeared on Appraisers Blogs.

Fix It Before Replacing It!

VaCAP Board — Thu, 17 May 2018 12:30:17 +0000

Fix what is broken before replacing the product. Appraisers are talented professionals that know how to take mass amounts of data, filter through it, analyze & make sense of it all. Utilize the talents of the 70,000 plus experienced, licensed professionals & don’t short change the consumer… Yesterday was the National Association of Realtors Real Property Valuation Forum: Rethinking Real Estate Valuations: Alternatives to Traditional Appraisals. First, VaCAP was well represented with 8 members present from all over the state. There were many of our Network colleagues there as well from all over the country. Thank you for taking the...

Garbage Replacing Appraisers? If appraisers were to embrace such garbage, would the demise of this technology be sooner? ...14.53 million dollar loss in…
The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…
The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…

The post Fix It Before Replacing It! appeared on Appraisers Blogs.

Alternatives to Traditional Appraisals

VaCAP Board — Mon, 14 May 2018 12:30:42 +0000

…increasing usage of alternatives to traditional in-person appraisals for valuations in real estate transactions… A California Judge has ruled Wells Fargo must pay $97 million to mortgage employees for not paying employees for the state mandated breaks. From the article, the Judge sided with the employees and ruled compensation for breaks should include commissions, not just an hourly rate. Just think, this is one state. Don’t most states have similar laws? $97,000,000 x 50 = $4,850,000,000 See the article here. Reminder: The National Association of Realtors, Real Property Valuation Forum presents: Rethinking Real Estate Valuation: Alternatives to Traditional Appraisals The...

Garbage Replacing Appraisers? If appraisers were to embrace such garbage, would the demise of this technology be sooner? ...14.53 million dollar loss in…
Clear Capital's Push For Hybrid VA Appraisals Clear Capital suggests that the VA consider the use of a desktop appraisal On April 4, 2017, the House Committee…
Alternative Evaluations... Good or Bad All of these "alternative evaluations" are an attempt to reduce the fee of the appraiser... All this talk about alternatives…

The post Alternatives to Traditional Appraisals appeared on Appraisers Blogs.

Garbage Replacing Appraisers?

Guest Author — Wed, 02 May 2018 12:30:06 +0000

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...

Top DEI Bosses Have a Problem - Diversity The ranks of the new DEI bosses at the financial institutions are no more diverse than the appraisers their institutions…
The Real Cause of the Home Value Gap Is the Income Gap Blaming appraisers for the income gap will never solve the real underlying problem... Blaming appraisers for the income gap is…
AVMs... Garbage In, Garbage Out Garbage data in means garbage results out every time! It's no secret that AVMs have been a thorn in the…

The post Garbage Replacing Appraisers? appeared on Appraisers Blogs.

The Reality

Guest Author — Fri, 12 Jan 2018 13:30:53 +0000

There is no shortage of appraisers, only appraisers willing to work for Appraisal Management Companies, but there will be a shortage if the current toxic business climate does not change. The AMC business model is based on lies that hurt the consumer and your constituents. There are many voices that have agendas to reduce the qualifications to become a Real Estate appraiser, whether it be a Licensed Appraiser, Certified Residential Appraiser or a Certified General Appraiser. There are also voices that would like the requirements of an appraisal by a person licensed by the state to be waived as there is a...

The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…
First the Borrower Fee. Now the Appraiser… Two lawsuits place Class Valuation’s fee transparency and staff-appraiser compensation practices under federal scrutiny. Most appraisal disputes examine only one…
USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…

The post The Reality appeared on Appraisers Blogs.

Another AppraiserLoft?

VaCAP Board — Wed, 20 Dec 2017 13:30:51 +0000

If you do work for Clarocity Valuation Services, you definitely should pay attention… Simple Wall St reports: “Clarocity has limited growth and a worrying balance sheet” On November 26, 2017 VaCAP shared an issue with one of our members not receiving communication from Clarocity Valuation Services concerning past due invoices. Due to our research and public sharing, our member was paid. During that time, VaCAP learned some things about Clarocity and we continued to follow the company. We are not going to tell anyone who to do business with or how to operate their business, but we ask that the analytic...

Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…
Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
USPAP’s Typical Buyer Standard in the Fair Housing Era The Irreconcilable Conflict Between USPAP's Typical Buyer Standard and the Current Fair Housing Compliance Regime. Retain this document as a…

The post Another AppraiserLoft? appeared on Appraisers Blogs.

Have AMCs Gone Dark?

VaCAP Board — Mon, 27 Nov 2017 13:30:10 +0000

Clarocity May Have Gone Dark… VaCAP has learned from one of our members the Appraisal Management Company, Clarocity Valuation Services, may have gone dark. The VaCAP member has invoices for their services over 30 days old and Clarocity has been unresponsive to numerous emails and phone calls over the past several weeks. Additionally, new orders are being assigned through their portal, Appraisal Scope. Virginia passed a 30 day prompt payment law that went into effect July 1, 2017. The statute is very clear that an AMC must pay an appraiser within 30 days from the initial delivery of the report....

Prohibition is Back! AMC strictly prohibits the use of third party services. A recent review of an engagement letter from a large national…
The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…
The Town With No Bank: How Rural America Lost Its… For decades, we’ve been told that the problem is demand. That people don’t want to live in rural America anymore.…

The post Have AMCs Gone Dark? appeared on Appraisers Blogs.

Clarocity - Appraisers Blogs

Professional Opinions Can Never Be Replaced

Related Posts:

Ocwen Financial Is in Trouble

Related Posts:

Appraisers Not Signing Up with These AMCs

Related Posts:

Appraisers Alarmed by USDA’s Poor Decision

Related Posts:

Can We Trust Regression…

Related Posts:

Hybrid Appraisals, Invitation to Fraud

Related Posts:

Should AMCs Be Audited?

Related Posts:

Clarocity Now Called Zaio Rips Off Appraisers

Related Posts:

Clarocity Soap Opera

Related Posts:

AMC’s Shutdown Excuse for Late Payments

Related Posts:

Theft of Appraisers’ Data

Related Posts:

AMC Owes Appraisers $750K

Related Posts:

AMCs Financial Trouble

Related Posts:

Limbo Anyone? How Low Will it Go?

Related Posts:

Fix It Before Replacing It!

Related Posts:

Alternatives to Traditional Appraisals

Related Posts:

Garbage Replacing Appraisers?

Related Posts:

The Reality

Related Posts:

Another AppraiserLoft?

Related Posts:

Have AMCs Gone Dark?

Related Posts: