Does an appraiser get notified if their appraisal gets reviewed?

[TC]

About 6 years ago I was informed via my mortgage banker client that she could no longer use me for loans she was selling to a certain national investor. No explanation at all. I tracked down those in charge that made the decision, both SRAs, and neither one had the golfballs to answer.(does that pass the censors?)

If they want to ruin your business life, they will, and there is really very little you can do. Maybe cut your fees in half.

 

[Lloyd Bonafide]

Can't help.. was just informed today that 2 of my biggest clients are not allowing me to do work because I am on Citi's watch list from appraisals I completed... wait for it.... in 2007. I have completed 10's of mllions of $$ in appraisals and pride myself in being a good appraiser even to the point of losing biz back in the day for being "too conservative". I have done leasehold interests, complicated capitilization reports and they hit me on 2 SFR's from 2007? my biz is dead. If this cannot be fixed i'm done. 26 years down the tubes for their bad loans. Any help from Citi would be greatly appreciated. if anyone has had a good response to their rebuttal process, i would love to know. Lenders will not accept you to do any work if you are on 1 watch list.

Did you ever get a chance to see a review or submit a rebuttal for the two properties in question? That would seem to be your best chance to get off a watch list or a blacklist. The quality of appraisal reviews varies a lot, and some of them are complete garbage.

 

[DMZwerg]

Can't help.. was just informed today that 2 of my biggest clients are not allowing me to do work because I am on Citi's watch list from appraisals I completed... wait for it.... in 2007.

How long ago did Citi make it onto your "do not use" list?
If sufficiently long ago maybe try informing the lenders of that as well, aka Citi is causing problems for the wrong reasons.

But yeah, a person could well find themselves blacklisted by the mortgage industry thanks to one bad lender

 

[Fritz in NY]

RELS sent me a letter in 2008 stating I was taken off "the list".
The letter had no return address, no phone number and no name or signature.
It also lacked the property/report in question.
Great professional atmosphere. Are they hiding?
Waste of my time now.
I LOVE doing VA assignments for Wells now, they won't take them from me but have no choice to take them from the VA .....

 

[rescom]

That does not seem fair to me.

These are the same people who charge $500 for an appraisal and pay the appraiser $150 of it.

The last thing these *ss clowns are concerned about is fairness.

 

[OSU Beavers]

RELS sent me a letter in 2008 stating I was taken off "the list".
The letter had no return address, no phone number and no name or signature.
It also lacked the property/report in question.
Great professional atmosphere. Are they hiding?
Waste of my time now.
I LOVE doing VA assignments for Wells now, they won't take them from me but have no choice to take them from the VA .....

You're not missing much. They sent over a request for a $45 desk review today. I did not bother to respond. I am sure someone scooped it up and that type of quality review is what is used to black list good appraisers.

 

[David Sawyer]

Get hold of one of these reviews, especially a LARS review, and do the rebuttal. Then exam any and all USPAP infractions, and file a complaint with the state! I did this almost a year ago. Name the specific USPAP infractions. It has now gone all the way and made it through Probable Cause with the FREAB and is now in the "15 day" non-public disclosure period.

The power these people think they have that are paid $100 for a review is mind blowing.

 

[peteles]

Know the addresses

Did you ever get a chance to see a review or submit a rebuttal for the two properties in question? That would seem to be your best chance to get off a watch list or a blacklist. The quality of appraisal reviews varies a lot, and some of them are complete garbage.

One file was altered by the lender with 3 additional comparables which were placed on the appraisal without my knowledge or consent. I have an e-mail in writing from that lender which has been forwarded to Citi. it was new construction at the time I completed the report, so any discrepancies on my end ofthe report would have been directly attributed to the sales office.
The other address is a pocket tract. 3 blocks south or east and its a completely different value. Reviewers rarely know areas. I have sent 2 certified letters now, one containng the e-mail from teh lender who altered my report. From what I have been reading online I have a snowballs chance in hell of being taken of the watch list.
"My life as I know it is over".. my quote of the day.

 

[peteles]

How long ago did Citi make it onto your "do not use" list?
If sufficiently long ago maybe try informing the lenders of that as well, aka Citi is causing problems for the wrong reasons.

But yeah, a person could well find themselves blacklisted by the mortgage industry thanks to one bad lender

Only effectively blacklisted... I am on the "Watch list" which means Citi gets $250.00 to review each one of my appraisals. My clients will not use me for this reason. On the list 6/1/10.

 

[peteles]

Get hold of one of these reviews, especially a LARS review, and do the rebuttal. Then exam any and all USPAP infractions, and file a complaint with the state! I did this almost a year ago. Name the specific USPAP infractions. It has now gone all the way and made it through Probable Cause with the FREAB and is now in the "15 day" non-public disclosure period.

The power these people think they have that are paid $100 for a review is mind blowing.

I have asked for the reviews with no response. I cannot hold out a year. My wife was laid off 12/31/09. I will do what I have to do while I'm looking for a new career. I feel unjustly punished. I have been ethical, turned in review appraisers and appraisers (New Century Mtg) and never completed an assignment I didn't see myself. In addition, I taught appraisal and have been a legal advocate in many cases with 100% success. What is going on here???? How can one company effctively ruin my life?