- Joined
- Feb 14, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Louisiana
I believe birds of a feather……It seems like there's more to what you're saying.
Yes, policies and procedures. If theirs doesn’t include a policy to maintain up to date credentials that’s a no-no. But I bet it does. And I bet they chose to ignore it. And I bet they make a lot of compliance choices you and I wouldn’t agree with.As far as what they documented in the letter, as you know lenders and AMCs have written policies and procedures in place for instances such as this, which they must follow and they must document steps taken along the way for audit. They don't get to pick and choose.
Way more to it than that; copy of current insurance, copy of current license, current background check if that’s policy, etc. Internal audit rode my rear end when they found expired copies.I show active credentials on ASC.
I haven’t said I agree or disagree with the OP’s social media post cited in the letter. I do support his advocacy for independent appraisers and his efforts to expose rotten AMCs.
As far as Solidifi, they don’t have to do business with him. But I question their motives and their actions. If this was purely a reputational risk move, it would have been done differently. In my experience the reputational risk playbook is to not make the problem worse or get involved in drama, and the letter would have simply stated “for X reasons we are removing you from our panel.” And despite what some think, there isn’t any standard for a “reason”, it could be as simple as “we don’t like your attitude.”



