UnionLabel
Freshman Member
- Joined
- Aug 4, 2011
- Professional Status
- Certified General Appraiser
- State
- California
Google amerisave novo consent decree to get the link to the big PDF containing the Consent Decree between the CFPB and Amerisave / Novo / Patrick Markert (CEO). Most of the $20.9m in penalties was for RESPA, CFPA and TIL violations, the rest for illegitimate appraisal practices through Amerisave's captive Novo AMC. CEO Markert was ordered to pay $1.5 million out of his own pocket for routing 100% upcharged AVM profits to his personal family trusts.
Another marriage to be wary of is between CashCall, Inc., a national online lender and AAA Appraisal Advantage, its California AMC. CashCall has been sanctioned in several states and by the CFPB for practices similar to the Amerisave case. Appraisers should be cautious in accepting assignments from these entities lest they be tarred with the same brush.
Another marriage to be wary of is between CashCall, Inc., a national online lender and AAA Appraisal Advantage, its California AMC. CashCall has been sanctioned in several states and by the CFPB for practices similar to the Amerisave case. Appraisers should be cautious in accepting assignments from these entities lest they be tarred with the same brush.