CoreLogic - Appraisers Blogs

CoreLogic Policy Change Counter to USPAP Requirements

Guest Author — Thu, 02 Mar 2023 13:30:56 +0000

CoreLogic is pleased to announce a change to its data retention policy. I received this notice from CoreLogic: Effective April 1, 2023, CoreLogic’s maximum storage commitment for appraisal and title data will be limited to 5 years. NOTICE OF CHANGE TO CORELOGIC DATA RETENTION POLICYDear Trusted Provider,In careful consideration of requests from our clients as well as industry risk management best practices, CoreLogic is pleased to announce a change to its data retention policy. Effective April 1, 2023, CoreLogic’s maximum storage commitment for appraisal and title data will be limited to 5 years. This change applies to all existing and...

My Day as an Appraiser Big Corporations like CoreLogic are like sharks... This morning, as I do every morning, I made some coffee and began…
Appraisers Are Historians It is gratifying when appraisers are correct, and the AVMs burn; unless you invested in their stocks. I mean no…
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…

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Promoting False “Racist Appraiser” Narrative

Mary Cummins — Fri, 18 Mar 2022 12:30:30 +0000

Some Lenders promoting false “racist appraiser” narrative to optimize profits via AVMs Like most businesses lenders want to optimize their profits. One way to make more money besides charging more is to pay less in costs and fees. One way for the lender to do that is to pay the appraiser less or just get rid of them and use a free or very inexpensive Automated Valuation Method (AVM). I personally don’t care if a lender or borrower wants to use an AVM. There is enough business out there for appraisers because not all appraisals are for loans and not...

Anti-Appraiser Agenda Money may have been used to buy influence and promote the current anti-appraiser narrative being embraced by key public servants…
Maxine Waters Wants Appraisers Investigated On February 22, 2022, Maxine Waters sent a letter to HUD Secretary Marcia Fudge, TAF, ASC and AI regarding ongoing…
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…

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Who Is Thinking Hybrid Appraisal?

VaCAP Board — Wed, 22 Sep 2021 12:30:46 +0000

“Digitizing the entire appraisal process”… what does this even mean? No more tape measures? No more typing? What exactly is being digitized that is not already digitized?… This is what Class Valuation appears to be doing to justify their actions. According to the article written by Richard Torne in Mortgage Professional America, Class Valuation has announced the acquisition of DataMaster. From the article: “We’re not replacing the appraiser, we’re empowering them” We share a common belief in the true path to the future, which is not to replace the appraiser but to empower them. Appraisers have had their fair share...

Class Valuation Did Me a Favor My profile has been disabled from Class Valuation. They actually did me a favor. This does not bother me in…
Classless Class Valuation Class Valuation has done some pretty horrific things in the past, but this one has earned them the true title…
AMC Fees Exceeding Appraiser’s Fee AMC management fees exceeding the appraiser’s fee more frequently Over the past year, the AMC industry growth model – taken…

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Bids to Acquire CoreLogic

Dave Towne — Thu, 18 Feb 2021 13:30:39 +0000

I heard from a number of appraisers about their adverse situations involving CoStar… It was announced on Feb. 4, 2021 that CoreLogic will be sold, with the transfer happening in the April-June 2021 time frame. See Inman news service article, “CoreLogic Acquired By Stone Point Capital, Insight Partners For $6B – Inman”. From the article: The deal is expected to close in the second quarter of 2021, subject to shareholder approval. See another news source here. CoreLogic currently owns several companies with ties to appraising: A la mode – appraisal report software Columbia Institute – appraiser education service provider Matrix...

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 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…
Fastapp AMC Alleged Violations of AIR The following court documents in the case Naftali Horowitz v. [xxx], Fastapp AMC founder v. Fastapp AMC president, confirm what…

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The Con, The American Dream Dies…

VaCAP Board — Tue, 07 Jul 2020 11:30:56 +0000

The Con is a 5-part series in-depth investigation into the 2008 financial crisis. If you attended the Appraisers Economic Forum, better known as AppraiserFest, in San Antonio, Texas back in October 2018, you may recall a couple of guys with video cameras. Many of the appraisers attending were interviewed for this production. The 5 part docu-series premieres August 5, 2020. You definitely want to clear your calendar to watch. See the trailer below and sign up for updates here. From writer/director Eric Vaughan, producer Patrick Lovell and executive producer Adam Bronfman, The Con is an in-depth investigation into the 2008...

Thank You Wall Street for Killing off my Hallmark Moments Thank you Wall Street, your mothers must be very proud of you! I’m not sure when it happened, but sometime…
CoreLogic Policy Change Counter to USPAP Requirements CoreLogic is pleased to announce a change to its data retention policy. I received this notice from CoreLogic: Effective April…
Corelogic Take on Appraisal Overvaluation The results of this 2021 white paper: Appraisal overvaluation: Evidence of price adjustment bias in sales Comparisons co-authored by Frank…

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SFREP Does Not Collect Your Data

Guest Author — Fri, 13 Dec 2019 13:30:42 +0000

What Exactly Can SFREP Software Offer for Real Estate Appraisers? Are you working as efficiently as possible? In this day and age, appraisers need to be quick on their feet and utilize every tool under the sun to help streamline the process. That’s where SFREP comes in. This company is creating software designed to make the appraisal process digital while keeping it as fast, accurate, and straightforward as possible. But how exactly does SFREP work, and can it really make your job easier? For many real estate appraisers, the answer is a resounding yes. Software by Appraisers, for Appraisers SFREP...

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…
Who Controls Access in UAD 3.6 Access has become the most expensive word in the appraisal industry, a reminder that every new “solution” seems to cost…
Is the GSE's "Appraisal Modernization" Really Just… Mass Appraisal tend to exhibit a regressive nature... In the intricate landscape of real estate mortgage financing, the notion of…

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PS – Never Quit!

Michael Ford — Mon, 04 Nov 2019 13:30:02 +0000

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...

Phony Complaint Against Appraiser ...a laundry list of 'pile on' purported USPAP "violations" were fabricated deriving for the above oversights ‘confirmed’ by the out…
I Do Not Quit, Not Ever! I Did Not Quit when HVCC, UAD and CU Came Along. I Do Not Quit, Not Ever! I do not…
Improper Direction to Appraisers ...specific prohibited direction to appraisers involved in federally regulated transactions... Improper direction to appraisers as a new special lender condition…

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Crowdsourcing Appraiser Data

Guest Author — Mon, 23 Sep 2019 12:30:56 +0000

Just imagine the possibilities of having a hyper-local database… If you are not in the business of data you will be out of business. I’m not sure if I heard this somewhere or not, but this mantra has been in my head for a while now. Being in the data business is essential for every business today. We see it across all industries where the companies that embrace data are still in business, and the companies that didn’t make that pivot are out. In our profession we saw Fannie Mae get into the big data business with the creation of...

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…
FNMA Ensnares Appraisers in Farcical Probes You feel like Fannie Mae is simply trying to get rid of appraisers. A lot of appraisers feel that way...…

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DOJ Investigates Big Tech

VaCAP Board — Mon, 29 Jul 2019 12:30:19 +0000

The Department of Justice announced last week they have initiated a review of anti-trust concerns with Big Tech Companies. From the Wall Street Journal article, the Federal Trade Commission and the Department of Justice collaborated on who would take the lead on this investigation. Also pointed out in the article, both the FTC and DOJ are pursuing separate investigations of Big Tech Companies. Although CoreLogic was not named as an initial target, we suspect it is just a matter of time before they are included. Frank Garay and Brian Stevens did a short 6 minute video on the subject which...

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…
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…
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.…

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Hearing on Appraisals

VaCAP Board — Mon, 03 Jun 2019 12:30:18 +0000

US House Financial Services Committee Hearing on Appraisals – The subcommittee on Housing, Community Development and Insurance is holding a hearing entitled “What’s Your Home Worth? A Review of the Appraisal Industry” on June 20, 2019 at 2:00 PM. The hearing is open to the public and can be lived streamed. To find out more about this hearing, go to the US House Financial Services Committee website. Contact the Representatives on this subcommittee. Make sure consumer protection is at the forefront at this hearing and not the profits of the GSE’s. Are the representatives aware the GSE’s are sending unlicensed,...

ND Banks Seeking to Kill Consumer Protection ...North Dakota bankers seeking to eliminate consumer protection benefits associated with appraisals... The real issue of concern to all appraisers…
Antitrust And Corelogic It’s not been a good couple of weeks for CoreLogic, the massive data aggregator of real estate information. It’s been no…
Feds Deny Public Hearing The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation and the Office of the Comptroller of…

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DOJ Goes after CoreLogic!

VaCAP Board — Tue, 28 May 2019 12:30:23 +0000

If the DOJ investigation proves fruitful, it is possible appraisal data could be investigated as well… The Department of Justice has sent a Civil Information Demand (CID) notice to CoreLogic. The CID requires CoreLogic turn over documents and answer questions. The article by Rob Hahn explains that the case revolves around not only the search features of the MLS systems, but the contracts and agreements on the use of MLS data by CoreLogic. If this investigation proves fruitful, it is possible appraisal data could be investigated as well. If this is the case, it will be a fast rolling snowball...

My Day as an Appraiser Big Corporations like CoreLogic are like sharks... This morning, as I do every morning, I made some coffee and began…
Theft of Appraisers' Data ...they charge appraisers an upload fee for the privilege of having their data stolen... I would never allow my data…
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.…

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Frivolous & Retaliatory 3rd Party Lawsuits

Michael Ford — Tue, 14 May 2019 12:30:47 +0000

Appraisers are routinely coerced & intimidated by third parties to violate their independence and integrity… Honorable Committee Members: We are writing to add our voice to that of the Massachusetts Board of Real Estate Appraisers (MBREA is a State Coalition of professional real estate appraisers) in support of each of the above bills. The American Guild of Appraisers is a Guild within the Office Professional Employees International Union (OPEIU) of the AFL-CIO, representing the appraisal and real estate related financial consumer / taxpayer interests of over twelve and a half million AFL-CIO Family Union & Guild Members; their families, retirees...

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…
Eroding Consumer Protection Waiving appraisal requirements on residential homes could erode consumer protection, stall attempts to create diversity in the profession... The recent…
West Virginia Appraisal Board Scheme The Doomed Quest to Reform a corrupt West Virginia Licensing Board “Board members earn money working for a law firm…

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NY AMC Law Sends Shockwaves

Jonathan Miller — Wed, 01 May 2019 12:30:45 +0000

Back on April 19th, I wrote about the New York AMC law in my Housing Notes newsletter. After years of AMCs chipping away at the public trust, the New York AMC law was designed to protect the consumer. The bill summary was: Relates to the registration of real estate appraisal management companies or an individual or business entity that provides appraisal management services to creditors or to secondary mortgage market participants including affiliates by the department of state. Last week, AppraisersBlogs ran it as a standalone post and I got a lot of feedback. To be clear, the bill was...

The Expert Only Gets 10% of Fee In the Appraisal World, The Expertise Only Gets Ten Percent of Fee An Indiana state certified appraiser based in Indiana…
AMC Fees Exceeding Appraiser’s Fee AMC management fees exceeding the appraiser’s fee more frequently Over the past year, the AMC industry growth model – taken…
REVAA No Fan of the New NY AMC Law The NY State Coalition of Appraisers wants you to to know that there is a new AMC law coming into…

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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...

The Truth is They Don't Hire Professionals! Hybrid hucksters always argue “Why can’t trained professionals like brokers or insurance inspectors” perform the appraiser’s field inspection. The answer…
Faster Cheaper Appraisals! An appraiser shared the following with us. Vintage Mortgage Firm is offering faster cheaper appraisals. New Faster Cheaper Appraisals! Three…
$599 Waiver to Save the Borrower Money? The consumer is being fed yet another lie! Remember when we heard an appraisal waiver will save the borrower money?…

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The Truth is They Don’t Hire Professionals!

Michael Ford — Thu, 21 Mar 2019 12:30:35 +0000

Hybrid hucksters always argue “Why can’t trained professionals like brokers or insurance inspectors” perform the appraiser’s field inspection. The answer is because ‘trained professionals’ like those noted don’t work for $25 an inspection; are unwilling to give up their day jobs for a chance at a single $25 inspection one or two days a week, AND if they are truly trained professionals, to begin with, they are unwilling to work for part-time income of $0 to $25 a day in vain hope of having a periodic 8 or 16 inspection day (assumes all 16 are side by side since there’d...

Mueller Sample Report. You Decide! A recruiter for Mueller Services, Inc. (Mueller Reports) contacted a VaCAP member about joining their team as a W-2 employee…
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 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…

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Cyber Attacks on Corelogic

Peter Christensen — Mon, 04 Mar 2019 13:30:16 +0000

Recent Cyber Attacks on CoreLogic and a Large Appraisal Firm Expose a Real Business Risk to Valuation Firms and Companies. As two recent attacks show, cyber crimes pose a real risk – legally and economically – to appraisal firms, management companies and other businesses involved in property analytics. If an operation like CoreLogic can be victimized by criminal hackers seeking property information, as it was in an attack earlier this month, any valuation firm or property analytics company is at risk. And, more seriously, the losses suffered by an appraisal firm in the separate cyber attack discussed below demonstrate how...

My Day as an Appraiser Big Corporations like CoreLogic are like sharks... This morning, as I do every morning, I made some coffee and began…
Theft of Appraisers' Data ...they charge appraisers an upload fee for the privilege of having their data stolen... I would never allow my data…
Fannie and Freddie, Still Stealing Data No matter how you sugar coat it, Fannie Mae and Freddie Mac have been stealing data from independent appraisers for…

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MCS Valuations (AMC) Closing Shop

Dave Towne — Wed, 06 Feb 2019 13:30:39 +0000

I saw a posting by another appraiser on a Facebook page on February 5, 2019 that MCS Valuations, based in Lewisville, TX, is closing shop. They are an AMC, and provide BPO’s and other real estate related services. The appraiser posted a letter from the company. They will not be placing any more appraisal assignments, but are asking appraisers to finish any assigned reports already in the pipeline. What’s really striking about this closure is that in 2014, MCS Valuations bought ‘components’ of CoreLogic’s associated entities that CoreLogic no longer wanted in their business! February 5, 2019 This communication is to inform...

Closed for Business, Sorry Folks! For those who are not familiar with what an AMC is, it is short for Appraisal Management Company. They are…
CoesterVMS in Bankruptcy? ...all payments on orders completed prior to 11/15/2018 cannot be paid... Appraisers, there is a body of evidence being disseminated…
AGA Objects De Minimis Increase Proposal We object to the proposal to increase the de minimis threshold at which no appraisal is required... Sirs: The American…

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Is SmartExchange Not USPAP-Compliant?

Guest Author — Wed, 30 Jan 2019 13:30:58 +0000

Is Smartexchange Resulting in USPAP Non-Compliance? This blog is likely going to stir up controversy. It is likely going to have a few folks calling me a loyalist to a la mode, or other similar things. Am I a loyalist? I do not see myself as such, but a la mode has been the only software that I have used in my career for residential form reporting. I do use ACI in the corporate setting as a reviewer and manager in my firm. I like and consider many of the staff at a la mode to be my friends, and I have had long relationships...

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.…
Who Controls Access in UAD 3.6 Access has become the most expensive word in the appraisal industry, a reminder that every new “solution” seems to cost…
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…

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Big Battles Ahead for Appraisers

Michael Ford — Fri, 28 Dec 2018 13:30:14 +0000

…complete elimination of appraisal as part of their fully automated loan processing objectives… Our work as appraisers & appraisal issue advocates is certainly cut out for us all in 2019. I think appraisal unity is going to be needed if we are all to take on the adverse issues affecting us. That includes AI. They still have a large number of honest, & competent members. I think the rest of us will have to let AI take care of AI issues. I’m not averse to butting heads with them on specific issues when necessary but alienating them rather than seeking...

The Evil Octopus Appraisers, it’s not paranoia when ‘the bastards’ really are out to get you (end us as a profession). ...Find each…
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…

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Appraiser’s Response to MyAMC

Michael Ford — Thu, 01 Nov 2018 12:30:36 +0000

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...

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.…
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…
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…

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CoreLogic - Appraisers Blogs

CoreLogic Policy Change Counter to USPAP Requirements

Related Posts:

Promoting False “Racist Appraiser” Narrative

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Who Is Thinking Hybrid Appraisal?

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Bids to Acquire CoreLogic

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The Con, The American Dream Dies…

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SFREP Does Not Collect Your Data

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PS – Never Quit!

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Crowdsourcing Appraiser Data

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DOJ Investigates Big Tech

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Hearing on Appraisals

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DOJ Goes after CoreLogic!

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Frivolous & Retaliatory 3rd Party Lawsuits

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NY AMC Law Sends Shockwaves

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Another Huckster Enters the Appraisal Arena

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The Truth is They Don’t Hire Professionals!

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Cyber Attacks on Corelogic

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MCS Valuations (AMC) Closing Shop

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Is SmartExchange Not USPAP-Compliant?

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Big Battles Ahead for Appraisers

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Appraiser’s Response to MyAMC

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