Tagged: FTC

How the Agreement Between CoreLogic & the FTC Impacts Appraisers 15

FTC vs Corelogic

…how the agreement between CoreLogic and the FTC from 2014 impacts appraisers… The FTC vs CoreLogic: Why it is important to Appraisers Some appraisers have reached out to VaCAP asking how the agreement between CoreLogic and the FTC from 2014 impacts appraisers. VaCAP wants to highlight the case and provide some key points of reference. The agreement revolves around the purchase of DataQuick by its competitor CoreLogic in 2014. The FTC at that time allowed the transaction with some parameters in which CoreLogic agreed to. See the analysis of the agreement here. A summary of the parameters are below: CoreLogic...

ACI / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Amrock aka TSI Appraisal Guilty of Fraud; Update on FTC vs. LREAB 23

TSI Fraud & FTC vs. LREAB

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...

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

Price Fixing? Why is the FTC Involved at All? FTC vs Louisiana Hearing 32

Price Fixing? Why is the FTC Involved at All?

FTC "Price Fixing" Allegations Hearing Update On Thursday, Feb 22, 2018 there were oral arguments presented in the Federal Trade Commission building at 2 pm. The meeting adjourned just before 3:30 pm. There were 55 to 65 people in attendance, which we were told is an extraordinarily larger crowd than typical. This is a very unique case. On the FTC side there were two lawyers – one male, one female. On the Louisiana side there were four males at the head counsel table and three or four other attorneys. I have never attended one of these hearings, so I really did...

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

Fraudulent Appraisals Class Action Lawsuit, LREAB Oral Argument... 7

Better Than Your Favorite Band’s Concert!

This will be better than your favorite band’s concert! Watch the oral arguments in the FTC vs LREAB case live in Washington DC on Thursday February 22, 2018! “The Federal Trade Commission (“FTC” or "Commission") will meet on Thursday, February 22, 2018, in Room 532 of the FTC Building for an Oral Argument In the Matter of Louisiana Real Estate Appraisers Board. The public is invited to attend and observe the open portion of the meeting, which is scheduled to begin at 2:00 p.m. The remainder of the meeting will be closed to the public ” VaCAP will be there...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / LandSafe / Louisiana Real Estate Appraisers Board

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How Fast Can Your Head Spin?

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...

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

Valuation Partners & Schizophrenic AMCs vs. Appraisal Professionalism 23

FTC & REVP vs LREAB Bombshell

Like many other appraisers I received a copy of paperwork filed in conjunction with the Louisiana Real Estate Appraisers Board / FTC and Real Estate Valuation Partners (REVP) aka Valuation Partners. (Thank you VaCAP!) To me it’s a bombshell, but before I go into the story of who did what to whom, and for how much let’s start off by asking all readers to click this link to see who the players are. Even if you read the article elsewhere please read the following link. Got it? Great. Just so we are clear, one of the Chief players appears to...

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

What is Real Estate Valuation Partners Hiding? 13

What is Real Estate Valuation Partners Hiding?

In the case of the FTC vs Louisiana Real Estate Board, Real Estate Valuation Partners (REVP) was issued a subpoena by Louisiana to provide some documents. They have filed a motion to quash the subpoena and not provide documents. When you read through the 11 page document, and we highly recommend you do, it appears REVP is hiding crucial documents that may be incriminating to themselves and other appraisal management companies. There are 12 specific items being requested. Take a look for yourself here. It is very telling! b.  Requests No. 4, 5, 6, and 11 ask for REVP’s internal...

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

Request for Appraisal Waivers If Granted Will Erode Public Trust 68

Appraisal Waivers vs. Public Trust

If the ASC grants the request for appraisal waivers, the precedent will have been set for other banks to follow… TriStar Bank has requested appraisal waivers for the entire year of 2018. According to the bank, they are having difficulty getting appraisals in the Nashville area and there is only one Certified General Appraiser in the the locality in which they are headquartered. Below is an excerpt form their letter to the ASC. They offer options in lieu of appraisals: Obtain an estimated value from a Realtor, selected from a small group of trusted Realtors who are not involved in...

Appraisal / Appraisal News / Appraisal Organizations / Appraisal Subcommittee / Appraisers News / ASC

Housing Bubble, FTC vs LREAB Update & Antitrust Immunity Bill 6

Housing Bubble, FTC & Antitrust Immunity

Is the Housing Bubble About to Burst? Subpoenas Have Been Issued; A Stay Has Been Granted; The Case is Moving Forward The FTC vs LREAB case has had numerous articles floating around.  Some information that is being stated is inaccurate, some embellished, some truthful. The official case log contains everything from the initial complaint to the Judge’s rulings. Take a look at some of the subpoenas issued and who is filing motions to quash them…. What do these AMC’s have to hide? Click here for the official case log. Wow, Just Wow! “S.1649 – A bill to help States combat abuse...

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

North Carolina in FTC's Crosshairs Over C&R Appraisal Fees 12

FTC Sends Warning to NC Over C&R Fees

North Carolina in the FTC’s crosshairs… VaCAP learned that the Federal Trade Commission (FTC) has issued a warning to North Carolina over HB-829 mandating Customary and Reasonable Fees. This is the second time in the last couple of months that the FTC is accusing a state of violating antitrust laws over Customary and Reasonable fees. An article titled “FTC Warns NC Appraisal Fee Bill Could Break Antitrust Law” was published on Law360 on July 6, 2017. See excerpts of the article below. To see North Carolina Bill H-829, click here or see below. So what can be done? Contact The FTC with...

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

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