LSI - Appraisers Blogs https://appraisersblogs.com/tag/lsi/ Appraisal News and Tips for Real Estate Appraisers Mon, 17 Aug 2026 03:43:21 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.4 https://i0.wp.com/appraisersblogs.com/wp-content/uploads/2015/04/ABfavicon.png?fit=32%2C32&ssl=1 LSI - Appraisers Blogs https://appraisersblogs.com/tag/lsi/ 32 32 52046035 Marin City Discrimination Case Settled https://appraisersblogs.com/marin-city-discrimination-case-settled https://appraisersblogs.com/marin-city-discrimination-case-settled#comments Tue, 07 Mar 2023 13:30:59 +0000 https://appraisersblogs.com/?p=28900 It’s unfortunate that this case was SETTLED in the way it was, because in reality, nothing about racial discrimination and disparate treatment was actually proven at a full trial…  The first case that’s been adjudicated claiming appraiser discrimination has been SETTLED by the defendant appraiser and the plaintiffs, with the judge “dismissing all claims with prejudice”, meaning it cannot be re-opened by the plaintiffs, but it can be appealed to a higher court by the defendant. From what I know, this case never went to a full trial. Motions were only presented to the presiding judge, who made this ruling....

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]]> https://appraisersblogs.com/marin-city-discrimination-case-settled/feed/ 30 28900 The Real Cause of the Home Value Gap Is the Income Gap https://appraisersblogs.com/the-real-cause-of-the-home-value-gap-is-the-income-gap https://appraisersblogs.com/the-real-cause-of-the-home-value-gap-is-the-income-gap#comments Mon, 13 Feb 2023 13:30:46 +0000 https://appraisersblogs.com/?p=28636 Blaming appraisers for the income gap will never solve the real underlying problem… Blaming appraisers for the income gap is as ridiculous as blaming appraisers for gun violence and gas prices. I watched the January 24, 2023 ASC Appraisal Bias hearing. Comments were requested after the hearing. This letter is my comment. I’ve been a real estate appraiser in Los Angeles, California for 40 years. I’ve been a licensed California Certified Residential Appraiser since licenses were first offered in 1993/1994. I’m a Latino woman who speaks English and Spanish. I appraise property in the diverse county of Los Angeles and...

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]]> https://appraisersblogs.com/the-real-cause-of-the-home-value-gap-is-the-income-gap/feed/ 77 28636 Scope Creep & the Imploding of Rules https://appraisersblogs.com/scope-creep-n-the-imploding-of-rules-have-little-2-do-with-appraising https://appraisersblogs.com/scope-creep-n-the-imploding-of-rules-have-little-2-do-with-appraising#comments Wed, 13 Apr 2022 12:30:16 +0000 https://appraisersblogs.com/?p=26655 …the imploding rules then implemented, and the scope creep that evolved because the cart was leading the horse, has severely lessened the reliability of ALL appraisals in my opinion. ANSI, while certainly worthy of discussion and taking a position on, will not solve the real “appraisal problem” that we all have. It really isn’t an effective tool anyway, but what the heck do I know. Being one of those AG certified from the very beginning, too early to get trained by anyone above me, since 1992, and licensed in real estate since 1971, and a broker since 1991, in a...

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]]> https://appraisersblogs.com/scope-creep-n-the-imploding-of-rules-have-little-2-do-with-appraising/feed/ 24 26655 AMC Liability for Deficient Appraisals https://appraisersblogs.com/amc-liability-4-deficient-appraisals-sued-4-negligence https://appraisersblogs.com/amc-liability-4-deficient-appraisals-sued-4-negligence#comments Mon, 17 Feb 2020 13:30:52 +0000 https://appraisersblogs.com/?p=23562 …may AMCs be liable for the deficient work of contractor appraisers? Can AMCs be sued for negligence? Can they be sued by borrowers?.. It’s now been a decade since the market relevance of appraisal management companies surged in connection with the procuring of appraisals for residential lending. Since then, interesting recurring legal issues have arisen relating to AMCs’ potential liability for the work of contractor appraisers: when and how may AMCs be liable for the deficient work of contractor appraisers? Can AMCs be sued for negligence? Can they be sued by borrowers? Here’s an overview of the answers to these...

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]]> https://appraisersblogs.com/amc-liability-4-deficient-appraisals-sued-4-negligence/feed/ 14 23562 The Evil Octopus https://appraisersblogs.com/mismo-blueprint-2-eliminate-appraisers https://appraisersblogs.com/mismo-blueprint-2-eliminate-appraisers#comments Wed, 20 Jun 2018 12:30:59 +0000 https://appraisersblogs.com/?p=18261 Appraisers, it’s not paranoia when ‘the bastards’ really are out to get you (end us as a profession). …Find each octopus and how they relate to our jobs. Look at MISMO Directors list… An Open Letter to Appraisers: Residential & Commercial This started as a response to a blog post by a respected appraiser concerning the influence of AMCs. During drafting it was clear that trying to explain AMCs was only part of the bigger struggles we face today. Picture a violent “all in” three-way gang fight among Octopi. Say a dozen on each side. That’s 36 Octopi x 8 tentacles...

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  • Who's to Blame? Looking at who and what MISMO Directors are, is it a surprise that FNMA included language in basic appraisal forms…
  • Form PACE Pro - Appraisal or Evaluation? Frankly this form is so screwed up! To First American Mortgage Solutions...(copy to appraisers around the US): Do you folks…
  • 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…

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]]> https://appraisersblogs.com/mismo-blueprint-2-eliminate-appraisers/feed/ 7 18261 When is Enough, Enough? https://appraisersblogs.com/virtual-assistants-outsourcing-appraisal-scams https://appraisersblogs.com/virtual-assistants-outsourcing-appraisal-scams#comments Thu, 29 Mar 2018 12:30:45 +0000 https://appraisersblogs.com/?p=17499 Yet another expert who is making gazillions of dollars using "virtual assistants and outsourcing"… I have been blessed in my life with more than my share of good friends. I’m talking about the lifelong kind. The kind we maintain friendships over 30; 40 or even 50+ years. My Mother and Father have always told me you can never really have too many real friends. They were right. So, at my age I don’t need or consciously seek to make enemies. Just as I have had more than my fair share of true friends, I’ve probably also had my share of...

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]]> https://appraisersblogs.com/virtual-assistants-outsourcing-appraisal-scams/feed/ 96 17499 Scheer Motion to Dismiss Coester vs Scheer Lawsuit https://appraisersblogs.com/cvms-fraud-coester--scheer https://appraisersblogs.com/cvms-fraud-coester--scheer#comments Thu, 15 Sep 2016 12:30:01 +0000 https://appraisersblogs.com/?p=12538 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...

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]]> https://appraisersblogs.com/cvms-fraud-coester--scheer/feed/ 26 12538 Unintended Use & Misleading Appraisal Reports https://appraisersblogs.com/unintended-use-misleading-appraisals https://appraisersblogs.com/unintended-use-misleading-appraisals#comments Fri, 09 Sep 2016 12:30:16 +0000 https://appraisersblogs.com/?p=12509 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...

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]]> https://appraisersblogs.com/unintended-use-misleading-appraisals/feed/ 13 12509 Computer Generated Value vs Human Brain https://appraisersblogs.com/computer-generated-value-versus-human-brain https://appraisersblogs.com/computer-generated-value-versus-human-brain#comments Wed, 20 Jan 2016 13:30:10 +0000 https://appraisersblogs.com/?p=9966 Around 1992, representatives of LSI (long before they became completely useless as an AMC) visited us in California to discuss some way to involve automation (as in AVMs) to eliminate appraisals. When I pointed out that they had JUST THANKED me for saving them from a quarter of a million dollars over valuation as a result of pressure from one of their very influential customers, and that the very same issue had arisen from that customers misapplication of data AND their potential misinterpretation of that data, they understood the connection. A KNOWLEDGEABLE human appraiser was required to resolve the difference....

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]]> https://appraisersblogs.com/computer-generated-value-versus-human-brain/feed/ 1 9966 LSI Fees – Absolutely Criminal! https://appraisersblogs.com/appraisal/lsi-fees-absolutely-criminal/ https://appraisersblogs.com/appraisal/lsi-fees-absolutely-criminal/#comments Fri, 28 Aug 2015 12:30:26 +0000 https://appraisersblogs.com/?p=8717 We used to do a lot of work for LSI back when they paid semi decent fees that were only about 10% below the competitive norm back around 1992. I think the norm was around $300 and they were paying $275+/-. In late 1992+/- they cut back to $235. We lost a few people but most stayed. Bear in mind the appraisers were being paid on a fee split. I think they got 50% of the firms fee. I was on salary for QC review and teaching work plus a split fee for field reviews. Back then it was much simpler to...

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]]> https://appraisersblogs.com/appraisal/lsi-fees-absolutely-criminal/feed/ 15 8717 Another Overtime Class Action Filed Against an AMC https://appraisersblogs.com/appraisal/another-overtime-class-action-filed-against-an-amc/ https://appraisersblogs.com/appraisal/another-overtime-class-action-filed-against-an-amc/#comments Wed, 17 Apr 2013 12:30:08 +0000 https://appraisersblogs.com/?p=4455 A lawsuit filed last week by a former staff appraiser against LandSafe Appraisal Services, Inc. exemplifies the overtime liability risk faced by many appraisal firms and appraisal management companies. In February, I wrote that overtime lawsuits by appraisers present a genuine liability risk to appraisal firms and AMCs.  In that article, I explained some of the special issues relating to whether appraisers properly can be treated as “exempt” employees for purposes of overtime compensation.  The real-world risk to an appraisal firm or AMC is that a staff appraiser will file a legal action alleging that he or she worked more...

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]]> https://appraisersblogs.com/appraisal/another-overtime-class-action-filed-against-an-amc/feed/ 1 4455 REVAA and FAIR Approach for Appraisal Fees https://appraisersblogs.com/appraisal/revaa-and-fair-call-for-market-driven-approach-for-appraisal-fees/ https://appraisersblogs.com/appraisal/revaa-and-fair-call-for-market-driven-approach-for-appraisal-fees/#comments Wed, 25 Jul 2012 12:30:07 +0000 https://appraisersblogs.com/?p=3177 REVAA and FAIR Call for Market-Driven Approach for Appraisal Fees Washington, DC (PRWEB) July 14, 2011, Donald Kelly, executive director, Real Estate Valuation Advocacy Association (REVAA), appeared today before the House Financial Services Committee, Subcommittee on Insurance, Housing, and Community Opportunity to testify on behalf of REVAA and the Coalition to Facilitate Appraisal Integrity Reform (FAIR) on Mortgage Origination: The Impact of Recent Changes on Homeowners and Businesses. The testimony comes just prior to the Federal Reserve Board transitioning its rulemaking authority to the Consumer Financial Protection Bureau (CFPB). Members of REVAA and FAIR advocate that the Federal Reserve Board,...

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]]> https://appraisersblogs.com/appraisal/revaa-and-fair-call-for-market-driven-approach-for-appraisal-fees/feed/ 18 3177 Mysterious “Notice of Claim” https://appraisersblogs.com/appraisal/the-mysterious-notice-of-claim-to-appraisers-relating-to-fdic-lawsuits/ https://appraisersblogs.com/appraisal/the-mysterious-notice-of-claim-to-appraisers-relating-to-fdic-lawsuits/#respond Mon, 18 Jun 2012 12:30:11 +0000 https://appraisersblogs.com/?p=2908 This post is for appraisers who have received a document entitled “Notice of Claim — Appraiser” relating to lawsuits filed by the FDIC (see example below). We have received multiple reports from appraisers and defense counsel about the mysterious “Notice of Claim.” The notices are so far nearly identical and state that the FDIC has filed a lawsuit for damages against one of two AMCS (either CoreLogic-eAppraiseIT or LSI Appraisal) based on one or more of the recipient appraiser’s appraisals and that the appraiser may be the subject of claims for negligence by one of those AMCs or by another...

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]]> https://appraisersblogs.com/appraisal/the-mysterious-notice-of-claim-to-appraisers-relating-to-fdic-lawsuits/feed/ 0 2908 FDIC Settles Claims Against WaMu https://appraisersblogs.com/fdic-settles-claims-against-wamu https://appraisersblogs.com/fdic-settles-claims-against-wamu#comments Tue, 20 Dec 2011 19:39:37 +0000 https://appraisersblogs.com/?p=1833 The FDIC Settles Claims Against WaMu’s Top Officers. What’s the FDIC’s Case Against LSI Appraisal Worth? In March of this year, the FDIC sued Washington Mutual’s former CEO Kerry Killinger, its former chief operating officer Stephen Rotella and its former head of residential lending David Schneider for $900 million in alleged damages resulting from their “gross negligence” in running WaMu’s residential lending business. The FDIC claimed that their negligence caused what it is the biggest bank failure in U.S. history. It also alleged that two of them unlawfully transferred assets to their wives to protect the assets from potential collection efforts. Despite those...

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]]> https://appraisersblogs.com/fdic-settles-claims-against-wamu/feed/ 1 1833