BPOs, Drones, Oil War & Appraising
Appraisers doing $300,000 a year in BPOs There has been a lot of chatter about BPOs again. Maybe we should consider changing the law in Virginia from being a mandatory USPAP state to a state like...
View ArticleVendor Agreement Controversies & Worst AMCs
AMC Vendor Agreement Controversies – Bad, Worst & Ugly AMCs And the winner is… According to a recent non-scientific survey conducted by AppraiserNews, the World’s Worst AMC Alive is Clear Capital....
View ArticleHybrid Appraisals – Why They Are Impacting Appraisal Employment
How hybrid appraisals may impact your future Appraisers, A day or so ago, I found out about the rebranding of ZAIO into Clarocity, and their purchase of Valued Veterans AMC. The ‘new’ CEO of the...
View ArticleThe End of AMCs?
Wells Fargo has agreed to a $50 million settlement over inflated appraisal fees. Think about this for a minute….. The people bringing the lawsuit (the “Plaintiffs”) claim that Wells Fargo violated...
View ArticleLRES 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...
View ArticleSolution for Alternative Reports
Lenders are having a problem finding enough appraisers to fulfill the number of ‘alternative’ reports… This is my follow-up to the previous essay about FIVE different types of ‘hybrid’ reports. You...
View ArticleBPOs ‘Made in India’
$10 a pop ‘Made in India’ BPO… When saying you’re 'sari' just won’t do. The Blackstone Group is nothing short of legendary. To say it is a 'Big Deal' is an understatement squared. A little background...
View ArticleSend it to India & Save Billions!
Appraisal? Obviously its only worth ten bucks – off to India with it… Most appraisers (and consumers) know the difference between ‘right and wrong’. We don’t need the tortuous, twisted ambiguities of...
View ArticleClient Supplying Comps
CLIENT provides the appraiser with a list of comps… I’ve heard about this practice, but this is the first time I’ve actually seen it ‘in print’: Do you supply a list of available comps for each order?...
View ArticleIs It Possible to “Prove” an Adjustment?
We read articles and advertisements on how to prove an adjustment. Is this possible? How wonderful it would be. To prove an adjustment, just push a button and bam! Out comes the correct answer. How...
View ArticleFirst Impressions of Clear Capital’s AVM
An Appraiser’s First Impressions of Clear Capital’s AVM… It’s no secret the lending industry is aggressively pursuing alternatives to traditional appraisals. While most participants in the industry...
View ArticleMCS Valuations (AMC) Closing Shop
I saw a posting by another appraiser on a Facebook page on February 5, 2019 that MCS Valuations, based in Lewisville, TX, is closing shop. They are an AMC, and provide BPO’s and other real estate...
View ArticleFrivolous & Retaliatory 3rd Party Lawsuits
Appraisers are routinely coerced & intimidated by third parties to violate their independence and integrity… Honorable Committee Members: We are writing to add our voice to that of the...
View ArticleAppraisal Reform or System Reform
It is my hope that the Subcommittee on Housing, Community Development and Insurance consider long-term impact. The existing regulatory burden, a proven failure, may insure a repeat of the past. The...
View ArticleThe Black Swan – Another Meltdown
Another Meltdown – The Inevitable Outcome of a White Swan: Why would we allow another Financial Meltdown to occur? …When revenues and profits decline, lenders and financial institutions throw caution...
View ArticleThe Collective Rot
Over 11,000 appraisers signed that petition… The US Congress completely ignored it and, as a result, The Great Real Estate Depression followed. Déjà vu: Or is it Déjà Poo (I’ve heard this crap before)?...
View ArticleBill Prohibiting Discrimination in Appraisals…
A bill to amend Illinois’ appraiser and real estate licensing acts to address discrimination. With increased public attention on the issue, complaints alleging unlawful discrimination are emerging in...
View ArticleVote With Your Wallet. We Can’t Boycott the AMC Industry Twice
Vote with your wallet. Vote with your feet. Vote with your time. Vote with your patronage. Vote with your clicks. Sorry to inform those who are seeking someone else to bail them out of this continued...
View ArticleYour Trade Has Been Under Assault for Years!
Your trade has been under assault for years. The de minimus rule was the first I sensed of the end of your trade. I am going off of vague memory but I think it was 1997, and at the time, the near...
View ArticleThe Sales Agents Derailed This Deal!
The lender and the AMC could have applied that veto to the sales agents, using the appraisal as proof positive that the agents derailed this deal. What is the ROV for? The answer is the listing agents...
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