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Rels

Discussion in 'Illinois' started by Tony Bamert, Apr 4, 2011.

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  1. Tony Bamert

    Tony Bamert Sophomore Member

    0
    Jan 26, 2010
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    anybody get am AMC letter yet from RELS?? I have asked but have not received one yet.??
     
  2. Brian Weaver

    Brian Weaver Senior Member

    1
    Apr 16, 2005
    Professional Status:
    Gvmt Agency, FNMA, HUD, VA etc.
    State:
    Illinois
    They're waiting until they receive a letter from the department on whether they can be co-clients with Wells Fargo...which, of course they can.
     
  3. KM2006

    KM2006 New Member

    0
    Mar 4, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    Good info, I was just about to post this Q b/c they definitely have it outlined as a requirement in the order stips but when I inquired I didn't receive a response.
     
  4. AnonApprsr

    AnonApprsr Elite Member

    0
    Jan 21, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Massachusetts
    How much of RELS is owned by Wells Fargo?
     
  5. TC

    TC Elite Member
    Gold Supporting Member

    22
    Jan 31, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Pennsylvania
    100% hores=ppimps
     
  6. William K

    William K Senior Member

    0
    Sep 21, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    Maybe that is why Rels is able to accept appraisal orders at fees contingent upon a loan outcome?:angry:
     
  7. Tony Bamert

    Tony Bamert Sophomore Member

    0
    Jan 26, 2010
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    This was sent out 4/11/2011

    To: All Illinois Appraisers




    The Illinois Department of Financial and Professional Regulation recently clarified that for purposes of complying with Part 1455.250(a) of Title 68 of the Illinois Administrative Code, it is acceptable to list the AMC and the financial institution as co-clients on appraisal reports.

    Effective immediately, appraisal assignments will include the following guideline:

    You are directed to identify by name, in all places within your report where the client name is listed, both the financial institution and this AMC; this is understood to be an acceptable manner of complying with Section 1455.250(a) of Title 68 of the Illinois Administrative Code.

    The Appraisal Board has published a May 1, 2011 deadline for enforcement of the new “Grounds for Discipline” rules. It is important that you understand your new obligations relative to AMC orders; therefore, we encourage you to review and familiarize yourself with Section 1455.250.

    If you have any questions regarding this matter, please contact your Area Manager or Appraiser Relations Specialist. Thank you for your continued cooperation in providing quality appraisal products.

    Valuation Support Services Management
     
  8. ExplainDNA

    ExplainDNA Senior Member

    14
    Oct 30, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    I'm glad we don't work for this idiotic AMC. Yeesh.

    Dave...
     
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