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AMC complaint over 60 days late

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CCA123

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Sophomore Member
Joined
Jan 3, 2010
Professional Status
Certified Residential Appraiser
State
Connecticut
Has anyone filed a complaint on an AMC that has not paid on appraisals in CT?
Where did you file Consumer Protection? was there a special form or did you use the general complaint form? Did you file with Fannie Mae?
An AMC "Regency Property Appraisal" owes me over $1600 and will not pay.I contacted the lender First Choice Bank and they are ignoring me.
CT regulation says 60 days to pay and its well over that time.
Any info would be appreciated.
 

The Warrior Monk

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Mar 30, 2005
Professional Status
Certified General Appraiser
State
New York
Has anyone filed a complaint on an AMC that has not paid on appraisals in CT?
Where did you file Consumer Protection? was there a special form or did you use the general complaint form? Did you file with Fannie Mae?
An AMC "Regency Property Appraisal" owes me over $1600 and will not pay.I contacted the lender First Choice Bank and they are ignoring me.
CT regulation says 60 days to pay and its well over that time.
Any info would be appreciated.

I'm not familiar with CT. However, I would recommend reporting them to the banking commission, and any other agencies in place that may have some control over them (licensing division for corporations, etc.). It might also be advisable to report them to the state's Attorney General office, since your information can help to establish a pattern.
 

cdcheese

Freshman Member
Joined
Apr 23, 2008
Professional Status
Certified Residential Appraiser
State
Texas
Regency non-payment

CCA -

Did you ever have any luck getting paid by these ppl? They have invoices over 90 days with me and the owner never bothers to respond to payment inquires.
 

Caligirl

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Joined
Jan 27, 2006
Professional Status
Certified General Appraiser
State
California
Re-read what David W. posted, very good advice.

Might want to send them a written notice of what you intend to do first, and give them a week to pay up. If nothing happens take the lender to small claims court (the AMC is only working as their 'agent')
 

Noreen

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Joined
Feb 5, 2011
Professional Status
Certified Residential Appraiser
State
New Hampshire
Aren't they required to post a bond in every state they are licensed? State Atty General for sure, board of licensure,
 

Caligirl

Senior Member
Joined
Jan 27, 2006
Professional Status
Certified General Appraiser
State
California
Aren't they required to post a bond in every state they are licensed? State Atty General for sure, board of licensure,

Not all states have required AMCs to be licensed (yet) and not all require a bond. Some AMCs are openly violating licensure requirements in my state. Anyone filing a complaint for non-payment by AMC needs to follow up with a complaint to the state licensing board if that AMC hasn't complied but is required to be licensed.
 
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Flygirl 152

Senior Member
Joined
May 3, 2006
Professional Status
Certified Residential Appraiser
State
California
Two days ago I sent in my complaint against Regency to the CA OREA.

The owner called me and asked me to up the value of an appraisal. I told him no, and he never paid. The appraisal took place in September, and I quoted my fee of $500 since it was complex in nature. I have the paper trail which shows that they accepted my fee quote, and asked me to proceed forward.

This company is not paying appraisers. Everyone needs to file complaints with their state boards against them so they can be shut down. The owner is a appraiser, and should know better.
 

Noreen

Senior Member
Joined
Feb 5, 2011
Professional Status
Certified Residential Appraiser
State
New Hampshire
Has anyone filed a complaint on an AMC that has not paid on appraisals in CT?
Where did you file Consumer Protection? was there a special form or did you use the general complaint form? Did you file with Fannie Mae?
An AMC "Regency Property Appraisal" owes me over $1600 and will not pay.I contacted the lender First Choice Bank and they are ignoring me.
CT regulation says 60 days to pay and its well over that time.
Any info would be appreciated.

There is a discussion on AppraisalLoft on the forum that has a link to the article that was in an appraisal publication. People have been getting money from the originating lender because that is the way Dodd-Frank was written. This is the worst timeof the year for this nonsene but ultimately the lender is responsible for who they "sub-contract" their ordering through. Best of luck.
 

Flygirl 152

Senior Member
Joined
May 3, 2006
Professional Status
Certified Residential Appraiser
State
California
There is a discussion on AppraisalLoft on the forum that has a link to the article that was in an appraisal publication. People have been getting money from the originating lender because that is the way Dodd-Frank was written. This is the worst timeof the year for this nonsene but ultimately the lender is responsible for who they "sub-contract" their ordering through. Best of luck.

Really? Can you provide the link to the thread? I want to see this link so I can contact the lender and get my $500.00! I worked for 3 days writing that appraisal, and deserve to be paid!
 

tjcou812

Junior Member
Joined
Aug 17, 2007
Professional Status
Certified Residential Appraiser
State
Connecticut
In the past I contacted the banking commission always with good results, they send them letter with a time limit to respond to the complaint. They are pretty quick usually send out the letter within two days from you filing the complaint. All got good results and been paid.
 
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