Mercury Network - 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…
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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Unsolicited Appraisal Request

VaCAP Board — Wed, 11 Mar 2020 12:30:08 +0000

…an unsolicited appraisal request instructing payment be collected at the door… Well who said 2020 would be a nice calm year for appraisers? VaCAP has been receiving messages from appraisers about some of the crazy dumb stuff lenders and amcs are doing. What is scary is the things we are hearing are very reminiscent of 12-15 years ago. A long time VaCAP member forwarded an appraisal request to us he received via Mercury Network. All was good with the order, turn time, fee; all good except for one little issue, payment was to be collected at the door from the...

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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Latest Bid Scam for Fee & Turn Time Quote

Dave Towne — Wed, 04 Dec 2019 13:30:38 +0000

Lately, I and other appraisers who are ‘members’ of Mercury Network have been getting emails with what ‘looks like’ individual “bid requests” to quote fee and turn time for residential properties. I say ‘looks like’ because the email only has the singular appraiser’s email address showing. What’s actually been happening is the client is sending multiple emails to individual appraisers via Mercury Network. These emails always have an acceptance window of several hours, which is acceptable (unless 4 hrs or less). But they are not honoring the time frame window to present a bid, and withdraw the potential assignment, after...

Let the Bids Begin! Bid assignments are more often than not awarded to lowest bidders... For the past couple of days, we have been…
AMCs Bidding Game An appraiser's response to AMCs bidding system. Recently, we came across an interesting story and thought it's something fruitful that…
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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Take Control of the Appraisal Process

John Pratt — Tue, 30 Apr 2019 12:30:10 +0000

If the appraisers want to take back their industry they need to come together… This new law in NY has aroused a lot of comments from appraisers but let’s be honest. Appraiser have been complaining about AMCs for the last 10 years and waiting for the government, regulators and other to solve the problem with the whole AMC disaster. I have written about this before, the appraisers have no one to blame except themselves. If you wait for someone else to solve the AMC problem you are looking in the wrong place. We all know of the problems with AMCs...

Animosity Between Appraisers and AMCs AMCs control the money. We hear a lot about animosity between appraisers and AMCs and this doesn’t make for a…
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…
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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FTC vs Corelogic

VaCAP Board — Wed, 11 Apr 2018 12:30:52 +0000

…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...

Class Action Against Corelogic A residential staff appraiser has filed an overtime class action lawsuit against appraisal management company CoreLogic Valuation Solutions. The appraiser…
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…
What's In a Relationship? Salvaging Relationships with Appraisers... Wells Fargo, one of the oldest banks in the country, is working hard to salvage relationships,…

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Appraisers Pushing Back!

VaCAP Board — Thu, 21 Dec 2017 13:30:27 +0000

Solidifi has taken the disrespect to another level… Appraisers Pushing Back Against AMC Bad Behavior! Appraisers have finally had enough of bad behavior by AMCs. VaCAP received the following email from an appraiser, who by the way is not located in Virginia. VaCAP spoke to the author concerning the email and found out a few more details. First, the author does not do residential work as they are a Certified General nor do they work for AMCs and are not on any AMC roster. Somehow, this nonresidential appraiser received this email from Solidifi. VaCAP commends our colleague for stepping up...

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…
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…
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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Prohibition is Back!

Guest Author — Thu, 16 Nov 2017 13:30:08 +0000

AMC strictly prohibits the use of third party services. A recent review of an engagement letter from a large national appraisal management company revealed something pretty peculiar… “An appraiser is prohibited from using any third party services.“ Wait, What? No third party services? I am no attorney, and certainly do not know all the aspects of law, but it seems that the definition of third party services is pretty self-explanatory. To be sure I am not mistaken; I researched the definition of third party. FreeDictionary.com: “A person who is not a party to a contract or a transaction, but has...

Lie - Ability Tax payers should not be LIE-ABLE for the actions of greedy bad players! Michael Simmons, Principal and founding Director of…
USPAP Compliance & Hybrid Appraisals WHO does the SUBJECT INSPECTION? Appraisers, Some appraisers have questioned the name ‘Hybrid Appraisal’ because the requesting client WON’T USE…
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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Anatomy of a Substantiated (AMC) Complaint

Michael Ford — Wed, 30 Aug 2017 12:30:51 +0000

Diligent Asset Valuations Alleged Multiple Non Payment to Appraisers Anyone that knows me, or who has read past comments concerning California BREA’s non enforcement of C&R fees also knows I’m not generally their (BREA) biggest fan. However, it would be intellectually dishonest not to recognize a case where they did the right thing. The case in question, BREA vs Diligent Asset Valuations (DAV), involved alleged multiple order non payment to appraisers by an AMC where orders were placed or assigned through the MERCURY NETWORK. The specific logistics of how Mercury is involved could be of interest to those that use...

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…
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…
Security Bars Removal Law Debunks Alleged Racial… Complainant stated appraiser told them they should remove security bars from windows. Complainant stated this is evidence of "racist discrimination"...…

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Let the Bids Begin!

AppraisersBlogs — Thu, 10 Aug 2017 12:30:53 +0000

Bid assignments are more often than not awarded to lowest bidders… For the past couple of days, we have been hearing rumors about Corelogic beta testing a “Residential Bidding” system for Mercury Network. It is no longer a rumor. It will be launched in late August. It did not take Corelogic long, after it acquired Mercury Network, to implement some changes. The bidding system will allow their customers to request bids from multiple appraisers. They claim that this feature will help their clients find an appraiser faster. Yet, will this be the primary reason it will be used? Based on...

AMCs Bidding Game An appraiser's response to AMCs bidding system. Recently, we came across an interesting story and thought it's something fruitful that…
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…
Enough Already, Nobody is Listening AMC technology is not about efficiency of the appraisal process... I am very tired of reading all the articles from…

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What’s In a Relationship?

Guest Author — Wed, 02 Aug 2017 12:30:49 +0000

Salvaging Relationships with Appraisers… Wells Fargo, one of the oldest banks in the country, is working hard to salvage relationships, not with just customers and regulators, but appraisers as well. Wells Fargo recently stopped using Appraisal Management Companies and is aggressively trying to build an appraisal panel of their own. Appraisers are excited that one of the largest banks in the country is no longer using AMC’s. We give Wells Fargo high “Kudos” for making a change in the right direction. However, there is a bit of a dilemma when making an informed decision whether to have a relationship with Wells...

Bend Over and Ask for More... GUILTY of not using human brain power of thinking and communicating... More Please... How many of you can honestly state…
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…
AMCs Are Not Part of The Appraisal Profession Foreign entities do not get a voice in what legislation is introduced... Let's think about this with an open mind...…

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Bend Over and Ask for More…

Guest Author — Mon, 22 May 2017 12:30:08 +0000

GUILTY of not using human brain power of thinking and communicating… More Please… How many of you can honestly state with all sincerity the appraiser is better off today with the use of Appraisal Management Companies (AMCs)? How many of you can say with all sincerity the consumer is being protected with the use of an AMC? How many of you can, with all sincerity state your business model is how you want it? How many of you are happy with the current environment of the industry? If you answered yes, congratulations, you have found your peace. You should stop reading...

Appraisers Need to Rethink How to Conduct Business AMC apps and text messaging does nothing but promote fast and cheap. Last week we learned of a lawsuit file…
I Must Apologize; I Got it Wrong... Your employees did not come from Taco Bell, they delivered your pizza! In a recent New York Times article by…
AMCs Are Not Part of The Appraisal Profession Foreign entities do not get a voice in what legislation is introduced... Let's think about this with an open mind...…

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George Mason Mortgage Ends Coester Appraisal Management Beta Test

AppraisersBlogs — Mon, 22 Aug 2016 12:30:47 +0000

George Mason Mortgage going back to Mercury Network On Thursdsay August 18, 2016, two days after we published the post titled “Coester Allegedly Engaged in Fraud Sued by Former Senior VP“, George Mason Mortgage LLC (GMM) emailed its GMM Appraisal Partners announcing GMM Transition for Appraisal Technology. Based on this announcement, George Mason Mortgage is going back to Mercury Network effective Monday, August 22, 2016. Be sure too look at their fee schedule below. Thank you to each of our valued Appraisal Partners who participated in the George Mason Mortgage (GMM) Appraisal Management Beta Test. After evaluating six months of...

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.…
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…
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…

The post George Mason Mortgage Ends Coester Appraisal Management Beta Test appeared on Appraisers Blogs.

An Opportunity for More Work…

VaCAP Board — Mon, 14 Mar 2016 12:30:41 +0000

Work opportunity for $25… Opportunity? A member of VaCAP forwarded this email from an AMC. VaCAP wanted to share. “We have a new product which is a review of a BPO. You’ll need to log onto a site and complete a checklist. The pay is $25 per report with a 24-48 hour turn time. Most can be done in about 10-20 minutes. All work can be done from your desktop. Training will be provided. Please let us know if you are interested. At this time, we are reaching out to garner interest. We’ll let you know the next steps as...

New UAD Overhaul: What Appraisers Can Expect in 2025… Folks, I recently attended a Train the Trainer 1.5 day class about the new UAD/URAR, jointly facilitated by Fannie Mae,…
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 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…

The post An Opportunity for More Work… appeared on Appraisers Blogs.

Mercury Network - Appraisers Blogs

CoreLogic Policy Change Counter to USPAP Requirements

Related Posts:

Unsolicited Appraisal Request

Related Posts:

Latest Bid Scam for Fee & Turn Time Quote

Related Posts:

Take Control of the Appraisal Process

Related Posts:

FTC vs Corelogic

Related Posts:

Appraisers Pushing Back!

Related Posts:

Prohibition is Back!

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Anatomy of a Substantiated (AMC) Complaint

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Let the Bids Begin!

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What’s In a Relationship?

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Bend Over and Ask for More…

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George Mason Mortgage Ends Coester Appraisal Management Beta Test

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An Opportunity for More Work…

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