Collection of unpaid invoices

[J Grant]

I guess Appraiser's aren't allowed to file Mechanic's Lien, but aren't they normally paid "Out of Escrow" or something? (assuming the Appraisal is for a RE transaction, not just someone's idle curiosity)

No . The appraisal is typically paid for at time of loan application by the borrower.

The lender, or AMC pays the appraiser the appraiser's fee. In this case, the AMC stiffed the appraiser .

 

[LesPaul59]

No . The appraisal is typically paid for at time of loan application by the borrower.

The lender, or AMC pays the appraiser the appraiser's fee. In this case, the AMC stiffed the appraiser .

I just realized the AMC is now listed as inactive in my state although they are still doing business here. Have you ever had to file a complaint on an AMC?

 

[J Grant]

I just realized the AMC is now listed as inactive in my state although they are still doing business here. Have you ever had to file a complaint on an AMC?

Jesus stop wasting time with this AMC. Filing a complaint against them will get you nowhere. It's fine to do it as a way for an agency to ding them, but it will not get you paid.

If the only contact you have is USDA, contact them and let them know what happened and that you did not get paid. They are a cash-rich agency; however, I just checked AI, and it says there is a USDA lender who ordered the loan, and thus that lender would be the client responsible for paying the appraiser. The fear of losing USDA approval would make a lender pay up imo,

Dig out your work file with the appraisal order - does it only say USDA, or does it also list a lender as a client? Who is the lender named on the appraisal? Just USDA?. I suppose the client is Deadbet AMC.

Which AMC is this deadbeat...if you care to share the name?

 

[djd09]

Maybe poor choice of words. It is not a "law" but a guideline that is from the CFPB that is strictly enforced for lenders. The lender has to pay the appraiser. This eliminates the confusion that the borrower feels they are the client if they pay the appraiser directly.

Really? This has been in effect since 2008 (I think). You have never heard that?

i had a friend, was a great appraiser back in the day. he could spin the numbers. make you look like a fool, boy
saw him the other night at this roadside bar i was walking in, he was walking out
we went back inside, sat down, had a few drinks
but all he kept talking about was collect at the door

 

[LesPaul59]

Jesus stop wasting time with this AMC. Filing a complaint against them will get you nowhere. It's fine to do it as a way for an agency to ding them, but it will not get you paid.

If the only contact you have is USDA, contact them and let them know what happened and that you did not get paid. They are a cash-rich agency; however, I just checked AI, and it says there is a USDA lender who ordered the loan, and thus that lender would be the client responsible for paying the appraiser. The fear of losing USDA approval would make a lender pay up imo,

Dig out your work file with the appraisal order - does it only say USDA, or does it also list a lender as a client? Who is the lender named on the appraisal? Just USDA?. I suppose the client is Deadbet AMC.

Which AMC is this deadbeat...if you care to share the name?

USDA Rural Housing is listed on the appraisal. The AMC is called Astro Appraisal Management Company LLC. I have emailed USDA with no reply.

 

[J Grant]

USDA Rural Housing is listed on the appraisal. The AMC is called Astro Appraisal Management Company LLC. I have emailed USDA with no reply.

I have never heard of Astro Appraisal management. Yuck. Sorry it happened.

Do you have the work file with the appraisal order? Normally there is a lender name on it. Sorry that you got no reply by emailing USDA. It is really annoying to have to spend so much time to collect, but see if you can get a phone number of USDA Rural Housing to reach a human .

 

[J Grant]

https://www.rd.usda.gov/contact-us

 

[LesPaul59]

I have never heard of Astro Appraisal management. Yuck. Sorry it happened.

Do you have the work file with the appraisal order? Normally there is a lender name on it. Sorry that you got no reply by emailing USDA. It is really annoying to have to spend so much time to collect, but see if you can get a phone number of USDA Rural Housing to reach a human .

There is no lender because the assignments were for foreclosure purposes. There is just the AMC, USDA and some property management company from Atlanta. I have sent them emails as well. Thanks for the link.

 

[ZZGAMAZZ]

Here in “modern times” (aka, post CFPD) , I have not had a problem with lenders not paying. The only good it has done is make the lenders scared of not paying.

Now, that has not meant I have had issues. First thing I do is check my accounts payable, and check it twice and three times ( some times it is me).

Once I am l positive it is not me, I contact them directly. They check their files…they do! They don’t want to have us send out “bad vibes” on them. Most of the times they come back and say, “whoops! Sorry. Will get that out to you.” Once a client came back and say se sent a check and find I didn’t cash it (lost in the mail) and sent me another one.

Point is, I feel they want to resolve any payment issues.

I realize that it was not the point of your message.....but the original post reminds me of the inherent value in the AMC business model. Years ago pre Appraisal Independence it was necessary to devote at least two full days a month chasing down bad checks & deadbeat borrowers..

 

[ZZGAMAZZ]

The one advantage to a licensed collection agency is that they can and will refer collections over to the credit reporting agencies. That's the only leverage they have that you don't.

May I ask you a question: I need to sue a towing company that badly damaged the frame of my car costing $3,200 in repairs. Is it true that if I win the case in Small Claims Court, the jurisdiction doesn't help to ensure that the defendent pays me? If so, do licensed collection agencies work on cases like that ????????????