Tagged: fraud

Who doesn't like a good BRAWL 4

Who doesn’t like a good BRAWL?

So who doesn’t like a good BRAWL? Brokers Rallying Against Whole-Tail Lenders (BRAWL) is a network of independent mortgage brokers who have joined together against unethical practices by wholesale lenders. The group has created the term “Whole-tail”, a combination of wholesale and retail for those lenders who close both wholesale and retail mortgages. The group claims that some bad wholesale lenders are using the brokers to obtain client information to solicit clients directly through the lenders own retail divisions and affiliates. “Mortgage brokers are beyond tired of various wholesale lenders acting like they’re on our team, when they’re actually just...

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

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

Treasure Valley No Longer Accepting AMC Invoices, PIW & ACE Programs 10

Not Such a Quiet Week

For a quiet Holiday Week and the first week of school for many localities, many things to report: VaCAP has learned Treasure Valley Factors is no longer accepting “Managed Appraisal Services Inc.“ invoices. Treasure Valley Factoring has been highly promoted by Phil Crawford and many appraisers utilize their service. VaCAP does not know the reasoning behind their decision, but we can only assume it is risk based, or this AMC simply is not paying. This could be a sign of things to come. Be mindful of your receivables and take early action the first sign of trouble. It is a business...

AI / AMC / Appraisal / Appraisal Institute / Appraisal Management Companies / Appraisal News

Pressure Can Never Be Removed From Appraisers 7

Gaining Perspective On Our Profession

Pressure that used to be overt has now become covert… I hold no particular pedigree or credential to speak for everyone in the real estate appraisal profession. All I can do is draw from nearly 26 years of being a part of it. In that time, I have heard almost every opinion on every issue that promises to be the next big challenge for our industry. It’s true that like everything, change is inevitable. We adapt to new technologies and practices as well as learn new skill sets. From FIRREA to Dodd-Frank, appraisers have continued to evolve when swift moving...

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

Zillow Gone Wild 21

Zillow Gone Wild

Some very interesting news is surrounding Zillow… A lawsuit over Zestimates has now gone to a class action status. This will have rippling effects on each and every state and expand the liability to not only licensing, but privacy and consumer fraud. Read about this change here. Excerpt from the article titled “Class-action suit aims to halt Zestimates in Illinois”: “The Zestimates that Zillow posts are misleading and pose as accurate appraisals in violation of Illinois’ legal description of an appraisal, according to the complaint filed by three members of the Patel family and Schaumburg-based CastleBldrs.com. They claim homebuyers read...

Appraisal / Appraisal News / Appraisers News / Automated Valuation Models / AVM / Trending

LRES Wants Your Digital Signature 31

LRES Wants Your Digital Signature

Do NOT send your digital signature! I just received the following message from LRES (AMC) requesting I send my digital signature to them. I think this message should get out to all appraisers immediately. I don’t know if any other appraisers received this message however I would strongly suggest that you do NOT send your digital signature to this AMC or anyone else. I hope you all understand the possible problems this could open you up to, including forgery, fraud and many other illegal activities. If you have any doubts just call your E&O insurance and ask them what they...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / E&O

CoesterVMS AMC & Brian Coester Sued by Mark Skapinetz, Appraiser 31

Coester Sued by Appraiser

CoesterVMS & Brian Coester have a questionable history with the law… According to a lawsuit filed against CoesterVMS and Brian Coester by appraiser Mark Skapinetz on April 20, 2017, Brian Coester and CoesterVMS have illegally accessed (hacked) his email accounts. The lawsuit alleges violations of the Stored Communication Act, Trespass to Chattel, and Trespass to Land, Conversion, Fraud, and Invasion of privacy. Mark Skapinetz is a Certified Residential Appraiser in Georgia that owns a very active private Facebook page with over 700 members. Mr. Skapinetz has been very vocal about appraisers being treated unfairly by AMC’s and advocates for appraisers.

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

Consumers Overcharged by Appraisal Management Companies (AMCs) 18

Consumers Overcharged by AMCs

Excessive markups are common but consumers usually “know nothing about it”… The Chicago Tribune has published an article written by Ken Harney concerning appraisal fees. The article is very telling of what appraisers already know. Now the consumers are aware. Please read and share the article with your colleagues, agents, local MLS Board, Realtor Board, Appraisal Board and your Legislators. The more the abuses of some AMCs are exposed, the more opportunity we have to protect the consumer. Are you paying unseen add-on fees for your appraisal? By Kenneth R. Harney Are you getting fleeced on appraisal charges when you...

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

Modernizing Appraisals: It seems we're stuck in 1989. 46

Modernizing Appraisals & Being Stuck in 1989

Modernizing Appraisals: It seems we’re stuck in 1989… On November 16, 2016, the Housing and Insurance Subcommitte held a hearing on “Modernizing Appraisals: A Regulatory Review and the Future of the Industry.” Subcommittee discussed modernizing appraisals to benefit American consumers. The hearing focused on necessary changes to the appraisal industry. Subcommittee Chairman Blaine Luetkemeyer (R-MO) explained: “Appraisals are one of the cornerstones of the home-buying process. Issues that impact appraisers also impact nearly every American buying or selling a home, in rural and urban areas; in high- and low-income neighborhoods. Yet when it comes to the regulatory regime surrounding appraisals,...

AI / AMC / Appraisal / Appraisal Institute / Appraisal Management Companies / Appraisal News

Scheer Motion to Dismiss Coester vs Scheer Lawsuit 26

Scheer Motion to Dismiss Coester vs Scheer Lawsuit

More CVMS Fraud and Coester’s Fraudulent Activities Revealed Robert Scheer, former Coester Senior VP, has filed a motion to dismiss Coester vs. Scheer lawsuit. There are also whispers in the appraisal community that Brian Coester’s motion to dismiss the lawsuit against him was denied. Looks like Scheer vs. Coester lawsuit is going to trial. Scheer continues to reveal more dirt against Coester while appraisers continue to flood social media with comments, and sometimes with humorous reactions: My biggest take away from this is that it is an incredible indictment as to how (potentially) dirty the participants in major AMCs are...

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

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