Clear Capital - Appraisers Blogs

The AMCs: Coming Soon to a Lawsuit Near You

AppraisersBlogs — Tue, 20 Jan 2026 13:30:22 +0000

The AMCs built an entire system on silence, and now the quiet parts are being said out loud. For years, the mortgage industry has insisted that appraisal management companies are the guardians of independence, the compliance buffer that keeps lenders and appraisers at a safe distance. Yet 2025 has delivered a storyline that feels more like satire than industry narrative. Borrowers are suing, judges are listening, and the AMC business model is beginning to look less like a safeguard and more like a very expensive middleman with a very opaque invoice. The first shock came from California, where the Timmins...

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Bye Bye AMC: A Script to Sideline Appraisal Middlemen

AppraisersBlogs — Thu, 15 May 2025 12:30:17 +0000

The “Bye Bye AMC” script, a clever SQL solution, aims to disrupt Appraisal Management Companies by automating merit-based appraiser assignments, slashing AMC fees, and boosting transparency in real estate valuations. In the high-stakes arena of real estate appraisals, where precision tangoes with red tape, a sharp SQL script named “Bye Bye AMC” is poised to shake up the status quo. Crafted by Chase Pursley, founder of Appraisal Inbox, this code isn’t just a string of queries — it’s a potential death knell for Appraisal Management Companies (AMCs) that have long profited by squeezing appraisers, meddling in valuations, and padding their...

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AMCs Deceptive Fee Skimming Exposed in Lawsuit

AppraisersBlogs — Tue, 25 Feb 2025 13:30:23 +0000

Rocket Mortgage and the AMCs actively conceal this fee skimming from borrowers, never disclosing the proportion of the “appraisal fee” that is pocketed by the AMC rather than being paid to the appraiser. The class action lawsuit, Timmins v. Clear Capital, et al., filed on November 1 in the Superior Court of California, County of Stanislaus, sheds light on the deceptive and unfair business practices allegedly perpetrated by ClearCapital.com, Inc., Core Valuation Management, Inc., and Rocket Mortgage, LLC in relation to the appraisal fees charged to borrowers in home mortgage transactions. The complaint asserts that these defendants engaged in a...

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The Shadowy AMC Fees Draining Billions from Homebuyers

AppraisersBlogs — Thu, 09 Jan 2025 13:30:46 +0000

The hidden costs of appraisal management companies (AMCs) in the real estate industry have faced growing scrutiny, as highlighted by a recent Business Insider article titled “The Hidden Middleman who cost homebuyers $12 billion dollars and counting.” The article examines the opaque practices of AMCs, which frequently charge exorbitant fees that can exceed the amount paid to the appraiser. As highlighted by former Appraisal Institute CEO Cindy Chance, this issue has faced significant resistance from entrenched interests, mirroring the challenges faced in other industries such as the pharmacy benefit manager (PBM) sector, which ultimately led to an FTC investigation. The...

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Insights from CFPB’s Public Comment Period

AppraisersBlogs — Tue, 13 Aug 2024 12:30:20 +0000

The comment period on the Consumer Financial Protection Bureau’s (CFPB) “Request for Information Regarding Fees Imposed in Residential Mortgage Transactions” concluded on August 2, 2024, with a total of 959 comments received. Upon reviewing some of these submissions, several noteworthy perspectives emerged regarding appraisal fees and the role of Appraisal Management Companies (AMCs). The National Association of REALTORS® (NAR) highlighted the lack of transparency surrounding AMC fees, which are often bundled together with the actual appraisal fee on the Closing Disclosure (CD). This opaque structure prevents consumers from understanding the true cost of the appraisal service and hinders their ability...

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Homeowners Providing Interior Home Data

Dave Towne — Tue, 31 Mar 2020 12:30:40 +0000

Clear Capital is launching a new homeowner-enabled appraisal inspection tool the week of March 30… Over the past few weeks, I have seen in forums many appraisers talking about having homeowners provide home interior details (photos, videos, etc.), which can be used in appraisal reports. Well, guess what? American Ingenuity at work, which will be available soon. From the HousingWire article titled “Clear Capital launches new remote inspection tool“: “Real estate technology company Clear Capital has launched a new homeowner-enabled appraisal inspection tool, which adheres with encouraged social distancing protocols in light of the coronavirus. OwnerInsight is a tool that...

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Georgia Fines Clear Value Hybrid Appraiser

Michael Ford — Mon, 02 Dec 2019 13:30:15 +0000

So, do you think it’s ok to do bifurcated hybrids? On January 31, 2018, what appeared to be egregiously deficient Clear Capital “Clear Value” bifurcated hybrids were exposed in AppraisersBlogs. See What IS a “ClearVal Appraisal”? The properties were in Georgia. The appraisals were performed on a desktop basis by an appraiser in Indiana. Total fee was $250. Out of that $250, AMC Fee was $225, and the Indiana desktop appraiser was paid $25.00. Keep that fee in mind as you read through the attachments. Two complaints were filed by AGA™. One with the State of Indiana, and one with...

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Hybrid Inspectors Offering Appraisal Opinions

Mark Skapinetz — Mon, 17 Jun 2019 12:30:03 +0000

Clear Capital admission: This is an admission that inspector were previously offering appraisal opinions re Q&C. There remain many other areas in hybrids that also are appraisal opinion being provided by non appraisers. I have written many blog posts here, mainly for the consumer to read and understand what is actually happening in the world of Real Estate Valuations. My blogs range from being overcharged for appraisals so the middle man (the appraisal management company or AMC) can make money, lenders still pressuring appraisers to hit a value, and now having untrained and unlicensed people perform inspections (see my last...

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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...

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Appraiser Imposters!

Mark Skapinetz — Thu, 16 May 2019 12:30:44 +0000

AMC sends a “non-appraiser” to photograph, measure, sketch, and observe a property, it’s quality, condition, and surroundings instead of using a qualified appraiser… I’m not an Appraiser, You just think I’m one Ever see the AT&T commercial where the surgeon walks in and he says “I Just got reinstated, Nervous? That’s ok so am I”. If not see here: Or the late 1986 commercial with Peter Bergman that states I’m not really a doctor but I play one on TV. Well get ready Consumers because the person that is about to visit your home IS NOT an appraiser...

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Desktop Appraisals Hype

Dave Towne — Thu, 02 May 2019 12:30:43 +0000

…attempts to make readers believe desktop appraisals are the be-all, end-all of property valuation… Folks, a ‘white paper‘ was put out by a company in the property title, escrow and servicing sectors, tied to mortgage lending. It does a reasonable job of explaining what Hybrid appraisals are… which they call “desktop” assignments. Then this puff piece put out by Clear Capital, attempts to make readers believe these products are the be-all, end-all of property valuation. Both of these are typical PR pieces, designed to provide information while promoting a specific brand. Interestingly, neither mention anything at all about the interest...

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Another Huckster Enters the Appraisal Arena

Michael Ford — Thu, 28 Mar 2019 12:30:55 +0000

Yet another third party huckster has entered into the real estate appraiser and appraisal arena. It’s that time again! Yet another third party huckster has entered into the real estate appraiser and appraisal arena. Apparently motivated by pure altruism. We identified a need in the marketplace to address a common problem that lenders are regularly challenged with in providing accurate appraisal quotes and then ensuring pricing on the Loan Estimate is consistent and compliant,” stated Vladimir Bien-Aime, president and CEO at Global DMS. (I LOVE this guy, he writes like me!) Global DMS Launches SnapVal to Provide Instant, Accurate, Guaranteed...

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Expert Wants to “Eliminate” Appraisers

Abdur Abdul-Malik — Mon, 07 Jan 2019 13:30:29 +0000

Mortgage Industry Expert Wants to “Eliminate” Appraisers – A Response The National Mortgage News website just published an interview with an industry expert who openly stated she wants to “eliminate” the appraisal profession. No subtlety, no nuance — she wants us gone! Given the name of the website, I didn’t expect to find too many pro-appraiser viewpoints. I ran a search for the term “appraiser” on the website’s internal search engine and many of the articles that came up were about eliminating the profession or the current state of appraisal waivers.…to “eliminate” the appraisal profession… Rather than read the article...

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First Impressions of Clear Capital’s AVM

Abdur Abdul-Malik — Wed, 02 Jan 2019 13:30:53 +0000

An Appraiser’s First Impressions of Clear Capital’s AVM… It’s no secret the lending industry is aggressively pursuing alternatives to traditional appraisals. While most participants in the industry will concede an appraisal is still the gold standard for collateral valuation, they increasingly see the appraisal as something to be steered around or avoided altogether. An array of products/alternatives are being bandied in lieu of a traditional appraisal: Hybrids, Evaluations, BPOs (broker price opinions), Desktop Appraisals, and outright Appraisal Waivers. The industry is also turning its attention more and more to AVMs (automated valuation models). AVMs have been around for nearly three...

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AMCs & Lenders Fighting…

Peter Christensen — Wed, 16 May 2018 12:30:00 +0000

…Battles over alleged misappropriation of trade secrets relating to residential valuation technology and services… AMCs and Lenders Fighting Over Next Generation Valuation Products and Technology The residential valuation business for mortgage lenders has been taking big steps lately toward wide scale replacement of the historical Uniform Residential Appraisal Report (URAR or 1004) form used in mortgage lending. As this movement happens, some would-be providers of replacement valuation products (such as “hybrid” appraisals) and automated valuation models (AVMs) are fighting over technology turf and trade secrets. There are currently three big legal battles over alleged misappropriation of trade secrets relating to...

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TSI Fraud & FTC vs. LREAB

VaCAP Board — Mon, 19 Mar 2018 12:30:02 +0000

Amrock, Inc, formerly Title Source (TSI Appraisal) was ordered to pay House Canary $706 MILLION in damages for theft of intellectual property and fraud. Bottom line, there was a 7 week trial with a 12 person jury. Amrock (Title Source) was found guilty of theft and fraud unanimously! Amrock (Title Source) plans on appealing the verdict. Housing Wire has an in-depth article with lots of details. See it here. Things to ponder on: Should Amrock’s amc license be revoked due to this guilty verdict? Should appraisers and the public trust a company guilty of fraud and theft? Could appraisers win a law...

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Klosterman’s Appraiser Shortage Claims

Michael Ford — Fri, 02 Mar 2018 13:30:06 +0000

I understand that Mr. Klosterman gets paid to deceive & misrepresent on behalf of his principals who are promoting the meme of appraiser shortage… Fellow Appraisers, In a variety of posts here on AppraisersBlogs we have had the somewhat veiled or at least unclear perspective of a banking interest lobbyist being self-promoted (Bankers League?). When I responded in a manner I felt was applicable based on his specific post he was offended. You be the judges, please. Following are copies of his linkedIn communications to me. Copied from Mr. Klosterman’s message post above for ease of reading: “Nice timing Mike,...

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How Fast Can Your Head Spin?

VaCAP Board — Tue, 13 Feb 2018 13:30:00 +0000

Hopefully you have been busy and have not noticed VaCAP has been quiet over the past few weeks. Not by choice, but necessity. You see, there has been so much happening, we have been overwhelmed and our heads are spinning out of control. VaCAP needs more members to volunteer to help us help you. Let us know how you can help. Let’s start with the easy stuff: The Virginia Real Estate Appraiser Board Quarterly Meeting will take place on February 21, 2018. The meeting will begin at 10:00 AM and there will be a public comment period for anyone who wishes to address...

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What IS a “ClearVal Appraisal”?

Michael Ford — Wed, 31 Jan 2018 13:30:00 +0000

Clear Capital ClearVal… Value Not So ClearCut… I’ve finally had an opportunity to read a hybrid ‘appraisal’ start to finish. All may read the unedited, non-redacted version in all its glory… or infamy, as the case may be. Please click here (report also embedded below) and read it first. I’ll wait right here. Finished? Great. One thing is clear. It is not an appraisal by any current accepted definition that I am familiar with. Ironically, there is also very little that is clear as far as support for the opined values is concerned. (I’m old fashioned and think it should...

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Clear Capital’s Push For Hybrid VA Appraisals

AppraisersBlogs — Mon, 10 Apr 2017 12:30:41 +0000

Clear Capital suggests that the VA consider the use of a desktop appraisal On April 4, 2017, the House Committee on Veterans Affairs held a hearing on “Assessing VA Approved Appraisers And How To Improve The Program For The 21st Century.” The hearing was designed to “assess VA’s current appraisal process, as well as specific difficulties for timely appraisals in highly rural areas”, as well as to investigate possible technological solutions to mitigate timeliness issues. Much of the hearing focused on two areas: The requirements for becoming a member of the VA appraiser panel, and the baseline requirements for comparable...

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