Citi Group Watch List - Is there any way to get off?

[Groucho]

Does anyone know if there is any hope of getting OFF the Citi Group watch list? Got an email today from Lendervend saying account suspended because the appraiser appears on Citigroup's Watch List. They gave a snail mail address in Missouri. Calling Citi doesn't help, they won't talk to anyone. Has anyone had any experience with this? Is there any way to talk to anyone or resolve something like this? Provident/Lendervend was sending a lot of good work. Any help would be appreciated.

 

[PropertyEconomics]

Im not trying to be a smart ***** here .. but I think if you are on a watch list it doesnt mean you cant continue to do work .. it merely means they are looking harder at the appraisal reports ... that being the case I would suggest taking more care to do the work in a diligent manner and explaining things much better than perhaps you are doing now.

I havent seen your work .. but I can tell you the majority of issues arise from poor explaination of what an appraiser has done .... it is a plague across the board right now in the residential appraisal field.

Good luck.

 

[MDAPPR]

For lack of a better analogy have you heard of herpes.

 

[Functional Obs]

Does anyone know if there is any hope of getting OFF the Citi Group watch list? Got an email today from Lendervend saying account suspended because the appraiser appears on Citigroup's Watch List. They gave a snail mail address in Missouri. Calling Citi doesn't help, they won't talk to anyone. Has anyone had any experience with this? Is there any way to talk to anyone or resolve something like this? Provident/Lendervend was sending a lot of good work. Any help would be appreciated.

You said "get off" huhuhuhuhuh

 

[Webbed Feet]

P.E.

I would not be suggesting to anyone placed on a "Watch List" that it may have had anything at all to do with the actual work of anyone. So-called "Watch Lists" are being used for politics, for culpable deniability, for manipulation of appraisers, you name it. The one item they pretty much have nothing at all to do with is quality control of real estate appraisals. What they do relate more to would be Hollywood's "Black List" during the McCarthy era.

 

[Mile High Trout]

Does anyone know if there is any hope of getting OFF the Citi Group watch list?<>Has anyone had any experience with this? Is there any way to talk to anyone or resolve something like this? Provident/Lendervend was sending a lot of good work. Any help would be appreciated.

One sometimes ends up on watch lists when their work is graded by a desk reviewer during post funding portfolio review.

There are several grades available, depending on the company - watch - penalty/denial/investigation - & kudos. Have no idea about the company you are mentioning though...

Being on the watch list is very negative when dealing with AMC's, because it's tantamount to being blacklisted. Because you are now coined a higher risk or less adequate report developer, you need to complete more high quality work to be removed from that list, that or dispute the reasoning behind the grading. It may be challenging to find out where the portfolio is being reviewed, because that may be outsourced or with a parent company. Backtrack your way to the source of this grading issue you are having.

Likely happened from an individual order, or a recurrent error if you process lots of work for a single client that ended up in a single portfolio. The availability of competition could be a factor in weather or not you are able to bend someones ear on the matter.

Watch listing is effective but also potentially misdirected. Some companies will toss you on a watch list with one deficient grade, while others will tally the grades and decide from there. There may be recourse if the desk reviewer was off base somehow in the review analysis. Avoiding watch listing requires lots of disclosure on how one comes about opinions, and applies adjustments. When you leave the reviewer guessing or confused, that's when watch listing happens. Some appraisals get reviewed all the way down the line, and then back again. The inconsistent aspect of the process is that the desk reviewer is assumed to have commensurate understanding and expertise to match the appraiser being reviewed.

 

[peteles]

Me too

26 years appraising and I'm at my wits end. I discoved the file I was being "graded on" was altered by the lender and even got the lender to admit it in an e-mail. All of this has been forwarded to Citi by certified letter, but I get no respose. I will be effectively out of biz by 9/1/10. I have a reputation of being a "conservative" appraiser and lost alot of biz during the early to mid 2000's beacause I would not play the sub-prime game. Now I feel i'm being blacklisted falsley and have no recourse. I truly love appraising and am good at it. It apparrently does not love me?

screwed in CA

 

[OminousRun]

26 years appraising and I'm at my wits end. I discoved the file I was being "graded on" was altered by the lender and even got the lender to admit it in an e-mail. All of this has been forwarded to Citi by certified letter, but I get no respose. I will be effectively out of biz by 9/1/10. I have a reputation of being a "conservative" appraiser and lost alot of biz during the early to mid 2000's beacause I would not play the sub-prime game. Now I feel i'm being blacklisted falsley and have no recourse. I truly love appraising and am good at it. It apparrently does not love me?

screwed in CA

I know you said "no legal advise" but you really need to contact an attorney regarding this matter. Especially if you have evidence to show that your file was altered by someone other than you. There are PLENTY of attorneys out there that will look at this type of case, especially against a "major player" that has deep pockets and will quickly settle a potential lawsuit.

 

[db057]

related

I was just removed from an AMC because I filed a complaint against one of their employees who threatened me with a black list. Apparently if you reject orders the banks are taking note of this for documentation against you.

I rejected 2 orders in the last two weeks as they were not in my area and there was an issue of competence. I could do all the things to become such and yada yada but I have my own area and so sent the orders to others... which I figured is good to do + am geographically compliant etc.

Then, this week, I recevied an order the day it was due and so said to them that I had to reject it and get a new due date. I then got a crazy phone call from some lady having a horrible day I guess, wherein she threatened me, like I have some documented history of rejected orders. They apparently don't change due dates and the lender won't let them. She downloaded all sorts of "not mah problem" things about how bad her client/bank is... lol

Apparently, where I filed my compliant on there site went to the bank that she was complaining about and they all got in trouble. I just got a phone call from some other lady accusing me of trying to get them in trouble intentionally. It's pretty ridiculous and I don't know these people from Adam. I have nothing to gain from them getting in trouble and I only filed the complaint 'cause the lady was being an ahole and nasty with me.

Luckily, this AMC is doesn't affect my biz and I only did a few orders for them but still, appraisers should beware that when you reject an order to make sure to put in writing exactly why, hit print screen /screen cap it and put it in the file...

jus sayn

 

[PropertyEconomics]

P.E.

I would not be suggesting to anyone placed on a "Watch List" that it may have had anything at all to do with the actual work of anyone. So-called "Watch Lists" are being used for politics, for culpable deniability, for manipulation of appraisers, you name it. The one item they pretty much have nothing at all to do with is quality control of real estate appraisals. What they do relate more to would be Hollywood's "Black List" during the McCarthy era.

It also can come from doing really crappy work ... trust me I see enough of them every day if I had a watch list many would be on it .... lets hope they were having a bad day .. but if consistent crappy work is turned in ... the list may well be appropriate.
We come to this forum and gripe and complain about the work we see that is crap that lenders accept, and then if the lender does something about it, we gripe and complain about Hollowoods Black list ............

The fact Webbed is neither you nor I know why the OP was placed on a watch list ... so talks of McCarthy are a bit premature dont you think?