LRES Corporation - Appraisers Blogs

LRES Wants Your Digital Signature

John Pratt — Thu, 18 May 2017 12:30:47 +0000

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...

The post LRES Wants Your Digital Signature appeared on Appraisers Blogs.

Unintended Use & Misleading Appraisal Reports

Michael Ford — Fri, 09 Sep 2016 12:30:16 +0000

Unintended and Potentially Misleading At what point do we ALL say enough? When they insist on unlocked PDF, XML or ENV formats that facilitate recipients in removing portions of appraisal reports they don’t like? Too late. When they blacklist appraisers for refusing to make post effective date contract analysis changes? When they set the fees we charge? When they change the scope of work after assignments are completed? When they LIE to borrowers about how much the ‘appraisal fee’ is? Now we have several that think THEY own MY professional work product? Like HELL they do! Any, repeat, ANY appraiser...

The post Unintended Use & Misleading Appraisal Reports appeared on Appraisers Blogs.

Appraiser’s Response to LRES Order Blast

Michael Ford — Mon, 25 Jul 2016 12:30:17 +0000

LRES Standard Interior Appraisal Request? Your special requirements and micromanagement of the appraisal process dictate that I charge a fee commensurate with the additional, but typically unnecessary work needed to produce credible results. You are the potential client (agent), so that that is your prerogative and it would be my pleasure to accommodate you as long as appropriate compensation is provided. Respectfully, there is little about your appraisal request that is “standard”. Please explain briefly what you consider to be a ‘standard interior appraisal’. That definition does not appear in The Appraisal Institute’s Dictionary of Real Estate Appraisal. To be...

The post Appraiser’s Response to LRES Order Blast appeared on Appraisers Blogs.

Environmental Issues Notice to Appraisers

Michael Ford — Mon, 08 Feb 2016 13:30:06 +0000

Response to LRES email concerning appraiser’s responsibility regarding environmental issues Fellow Appraisers, Have you asked yourself WHY a few more of the larger regional AMCs are joining organizations like REVAA? In my opinion, it is because they and their clients (usually GSE lenders) KNOW that they are not truly compliant with Dodd-Frank’s C&R requirement. Despite disclaimers or advisories like this, they also know that the bulk of their work products are ‘probably not compliant’ with USPAP. Notices like this don’t normally get set out until ‘after the fact’ issues arise. REVAA recently helped coerce the State of Virginia (through threat...

The post Environmental Issues Notice to Appraisers appeared on Appraisers Blogs.