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Double Trouble - How Risky Are Hybrid Appraisals, And Where Do The Hazards Lurk

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Appraisers can be sued for reports that they sign? Hope they are thinking about that before their signature next to reports that are 50% filled out by 3rd parties. Including sketches, quality, condition, analysis, etc.

Dear Randolph Kinney;

Please join the our team of professional real estate appraisers attAppraisersPoint.com
http://appraiserpointmail.com/m/link.php?M=8347&N=42&L=3&F=T

This is a great time to join our network as there is increased demand for North Carolina real estate appraisers to fulfill new appraisal orders in Pisgah Forest area.

Please join us today!

Message sent by

AppraisersPoint.com

1395 Brickell Ave., Miami, FL 33131

(888) 534-0490

I am getting all sorts of solicitations. It is great to be retired.
 
Your friend is still technically an inactive certified appraiser since
She is 70 and crippled with RA. The way they used to handle this was to decree the file open and if the person reapplied then and only then would they have a board hearing. At least that's how they handled the case of a fellow who was testifying in some chicken trials and the banks filed against him. Once he saw the complaint he resigned his reciprocal license. So the board took no action other than put him on notice he would face this action if he reapplied.

I read the letter and it was odd. It said there were some weaknesses they noted that " might be violations of USPAP" - didn't specify what but noted they were concerned over the GLA error exceeding 50 SF but concurred it didn't impact the value but to settle it they would suspend her license 2 years. No fine. This apparently for failing to respond with the workfile. I told her to sign it and go on. It was the first complaint they had in her 25 year career.

Could the HO sue? Sure. But with the board concurring with her value, how would it go anywhere? She didn't quit because of the complaint. She quit because she is physically worn out, her husband is disabled, and the license expired and she choose not to renew. Notice of the complaint came after the license expired but was in the states hand before it expired, they sat on it a few weeks, and was over an appraisal from 2017 and was the first time she had heard a peep out of it.
 
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Dear Randolph Kinney;

Please join the our team of professional real estate appraisers attAppraisersPoint.com
http://appraiserpointmail.com/m/link.php?M=8347&N=42&L=3&F=T

This is a great time to join our network as there is increased demand for North Carolina real estate appraisers to fulfill new appraisal orders in Pisgah Forest area.

Please join us today!

Message sent by

AppraisersPoint.com

1395 Brickell Ave., Miami, FL 33131

(888) 534-0490

I am getting all sorts of solicitations. It is great to be retired.
The above is a total scam being conducted by 2 small time marketing scammers running their operations out of a virtual office. Reference the Appraises Point thread.

They somehow managed to procure (purchased) an Appraiser mailing / roster lists with contact information.

Makes one wonder with so many AMCs that have gone (and yet to go) out of business - what they will do with and what will happen to all the personal information they’ve kept on file.
 
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She is 70 and crippled with RA. The way they used to handle this was to decree the file open and if the person reapplied then and only then would they have a board hearing. At least that's how they handled the case of a fellow who was testifying in some chicken trials and the banks filed against him. Once he saw the complaint he resigned his reciprocal license. So the board took no action other than put him on notice he would face this action if he reapplied.

I read the letter and it was odd. It said there were some weaknesses they noted that " might be violations of USPAP" - didn't specify what but noted they were concerned over the GLA error exceeding 50 SF but concurred it didn't impact the value but to settle it they would suspend her license 2 years. No fine. This apparently for failing to respond with the workfile. I told her to sign it and go on. It was the first complaint they had in her 25 year career.

Could the HO sue? Sure. But with the board concurring with her value, how would it go anywhere? She didn't quit because of the complaint. She quit because she is physically worn out, her husband is disabled, and the license expired and she choose not to renew. Notice of the complaint came after the license expired but was in the states hand before it expired, they sat on it a few weeks, and was over an appraisal from 2017 and was the first time she had heard a peep out of it.

The majority of complaints are filed by buyers, sellers, and Realtors. The majority of those complaints are dismissed. However, in a significant number of complaints that have the original reason for the complaint dismissed, often trivial USPAP violations are found (see My Complaints against Complaints in RE Working mag). It's a fishing expedition.

As I mentioned before, in my opinion there will be a bunch of these 1004Ps sent into the state by disgruntled third parties that don't understand what they have.
 
The majority of complaints are filed by buyers, sellers, and Realtors. The majority of those complaints are dismissed. However, in a significant number of complaints that have the original reason for the complaint dismissed, often trivial USPAP violations are found (see My Complaints against Complaints in RE Working mag). It's a fishing expedition.

As I mentioned before, in my opinion there will be a bunch of these 1004Ps sent into the state by disgruntled third parties that don't understand what they have.
To which Appraisers are asked by their own clients or potential clients

“have you ever had a complaint filed against you”

If so, Please explain.
 

The above is not new “news”


https://www.housingwire.com/article...rovides-alternative-to-traditional-appraisals

Clear Capital advertising mimics TV commercials. Their marketing campaign is to keep their name in the viewers face. By regurgitating the same information repeatedly. The mortgage rags run with these new “releases” as filler.

April 18, 2019

Clear Capital unveils active, nationwide Modern Appraisal Program

https://www.clearcapital.com/clear-capital-unveils-active-nationwide-modern-appraisal-program/
 
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Clear Capital, the cheapest AMC for regular work, imagine the low fees they will offer for these...all appraisers can do is not cave to low fees, they can change the form and insert non appraiser inspectors but they still need appraisers for appraisal portion so the discount, if any by appraiser for desktop portion should be minimal I stopped renewing my info with Clear Capital a few years ago, I used to do occasional higher fee bid work the rare times they would pay a decent fee but stopped since it was rarely worth it. They send out work at a $200 offer for a 10 million dollar range complex property. The fact that this company which seems to have high level connections is one of those used for the test pilot is telling, again, all appraisers can do is insist on a good fee and the companies and fannie can modernize around that..
 
The above is not new “news”

Clear Capital advertising mimics TV commercials. Their marketing campaign is to keep their name in the viewers face. By regurgitating the same information repeatedly. The mortgage rags run with these new “releases” as filler.

April 18, 2019

Clear Capital unveils active, nationwide Modern Appraisal Program

https://www.clearcapital.com/clear-capital-unveils-active-nationwide-modern-appraisal-program/

yes, same recycled article, ...

This would be breaking news:: APPRAISERS STOP TAKING LOW FEES ON APPRAISAL ASSIGNMENTS.

After a week of not able to fulfill orders at low fees the companies would have to pay a better fee to meet loan deadline.
 
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