appraiser Blog Posts

Monday, November 11, 2013

“I was just asked by an AMC to get a background check. Do I have to comply?”

As risk management advisors for Appraisers and Inspectors, this is one of the questions we hear over and over again.

Let’s face it -- appraisal fees are lower than ever before. Essentially, AMCs are asking you to do the same amount of work for less pay. In some cases, they’re even asking you to do more work....

Monday, November 11, 2013

Sometimes the truth is stranger than fiction. The following email was forwarded to us by one of our members who wanted reassurance that just saying “no” was the right answer. Boy, was it ever!

This just proves that in spite of all of the reform and new regulations, there is nothing better than money to cloud someone’s judgment. 

Hi XXXXXXX-

Thanks again for the re-cert on this file but I’m coming to you again...

Wednesday, October 30, 2013

According to the Appraisal Institute’s recently published 2013 Real Estate Appraisal Outlook, U.S. appraisers anticipate that litigation valuation/forensic appraisals will be one of the top five areas of growth in the next one to two years in both commercial and residential appraisal. Indeed, approximately 33% of surveyed commercial appraisers anticipate more demand from law firms and lawyers in the near future, with 24% of those surveyed expecting an increase in valuation consultation and studies in support of litigation. The appraisers’ prediction may be spot on the money as at least one U.S. municipality has begun to implement a plan to seize hundreds of underwater mortgages through its power of eminent domain, potentially paving the way for a steady demand of litigation-related appraisals.

Sunday, October 20, 2013

What exactly is twisting? Twisting occurs when an insurance agent or broker convinces someone to switch insurance coverage under false pretenses. Most states have laws or regulations that include language like this:

Tuesday, October 1, 2013

As a risk management firm which has been serving real estate appraisers for over 20 years, we are in a relatively unique position in terms of offering suggestions how to improve the current residential real estate appraisal process. To offer some perspective, during our history we have had close to 20,000 appraisers as members of our risk management family and we have been actively involved in the resolution of close to 2000 claims brought against appraisers, both inside and outside of the courtroom. Furthermore, our management team has been around long enough to witness not only the most recent collapse of the real estate market, but also the all of the previous collapses dating back to the 1970’s.

Friday, May 10, 2013

We often receive calls from appraisers who have been blacklisted by a lender they do no direct appraisal work for. Typically, the story is the same. They are being dropped from an AMC panel that has given them a lot of business because the AMC found out one of the bigger secondary market loan buyers/lenders has blacklisted the appraiser. This is a lender they do not work for and/or haven’t done any work for in years. The blacklisting is based on some alleged issue with an appraisal done for another client and usually involves a review of the old appraisal by staff from the lender issuing the blacklist notice. Because the AMC fears a new appraisal done today for any lender might someday end up being sold to the lender that issued the blacklist, the AMC just drops the appraiser to avoid the potential problem.