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  #1  
Old 09-13-2004, 03:20 PM
Will43's Avatar
Will43 Will43 is offline
 
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I received a comp check from American Elite Financial 925 N. State Street Suite P Westerville, Ohio 43082.

This was at the bottom of the form:

*Appraiser Section

Estimated Value_____________________Date_____________

Appraiser Company___________________________________

Appraiser Name (Printed)______________________________

Appraiser Signature___________________________________

Additional Comments__________________________________

I wonder how many appraisers received this fax?

The highest bid wins! This is despicable.
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  #2  
Old 09-13-2004, 03:27 PM
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Pamela Crowley (Florida) Pamela Crowley (Florida) is offline
 
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OK lender regulators, where are you???
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  #3  
Old 09-13-2004, 03:30 PM
larryhaskell larryhaskell is offline
 
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Location: Reno, NV
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Did they include a check?
  #4  
Old 09-13-2004, 03:33 PM
leelansford leelansford is offline
 
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FYI: Any licensed appraiser who completes and then communicates that form as it is and by itself, has
(a) completed an appraisal
AND
(B) violated the USPAP.
--Lee Lansford, IFA
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  #5  
Old 09-13-2004, 03:52 PM
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Joker Joker is offline
 
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Location: Hicksville, Appalachia
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I have gotten several with the same thing at the bottom. I use to round file them. Now I keep them in a special file. I would bet that you and I have received some from the same companies.

Please keep these faxes will and join me in sending them in as a group to Ohio's attorney general. I have already been in contact with ODOC about this.
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  #6  
Old 09-13-2004, 05:32 PM
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Dee Dee Dee Dee is offline
 
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Location: Colorado
State: Colorado
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I can just see it now.....

Lender sends out a dozen requests like this and only keep the ones that come back signed in the value range that they need. Assignment goes to whoever is cheapest and/or highest value.

Fast forward: Homeowner defaults and lender starts asking LO questions. LO whips out 7 signed comp searches from different appraisers and says, "but look! I had 7 appraisers that all signed agreements that the value was there!"

"Cool!", says state board, DA, federal investigators and defrauded lenders, "Let's go get their files!"
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  #7  
Old 09-13-2004, 08:17 PM
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Mister Ed Mister Ed is offline
 
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If you fill that out in Florida, dont forget to add you license designation and number. If I learned properly in my Fla Law required CE this weekend, that would be $300 fine for not putting the number and $300 for not putting the license and up to 90 days suspension for each offense.

Oh yeah... put together a proper workfile or there can be other fines/suspension penalties $1000 and up to 5 years suspension.

Pamela, you know this better than me... did i learn anything?

Anything that could carry this kind of liability for free.... NO WAY IN H*LL!!!!!!
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  #8  
Old 09-13-2004, 08:51 PM
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Pamela Crowley (Florida) Pamela Crowley (Florida) is offline
 
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You learned good Ed.
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  #9  
Old 09-13-2004, 08:51 PM
Jim Onderisin Jim Onderisin is offline
 
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Location: Du Page County, Illinois
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Wow! Will, what KIND of companies DO you keep company with? Dang! Steer me clear of those, Lord.
  #10  
Old 09-13-2004, 10:10 PM
Eric Bishard Eric Bishard is offline
 
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Location: Orlando, FL
State: Florida
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http://www.aefloans.com

They have no contact section on their website. But lots of phone numbers and names.
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