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Flagstar

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And that is why appraisers need to start suing review appraisers for damages. And why review appraisers should start including in their contracts for the review that the client is prohibited from using the review report as a basis for determining approved client appraiser list eligibility along with an indemnification clause..

There is a good idea. If the OP is SURE the report is good AND the OP is SURE the review is garbage then sue the $100 reviewer. A subpoena will get the AMC to reveal the reviewer.

How about it OP. The reviewer has damaged your career according to you.
 
Flagstar Blacklist

I did work for Flagstar for years with never any complaint. Then, I got the blacklist letter and so I enquired why? They replied that their MI company actually blacklisted me, so they could no longer do business with me. I don't know any lenders doing 90% or 95% LTV loans, so what is the role of MI companies running the show?
 
That happened to me in San Antonio with Flagstar. Its been 6 years ago but the subject was say about 2,800 square feet in an average 1,500 to 2,000 square foot range neighborhood. Slight over build, so there were no comps in the neighborhood in that size range so we widened our search and found three good comps within one mile and used them. A reviewer comes back cuts the report in half and uses three comps like 1,100 SF, 1, 300 SF and something like 1,500 SF? None in the subject size range. Also, no deduction for functional obsoles. due to the overbuild, etc. He also made numerous errors in his analysis. I'm a reviewer myself, so I reviewed his review and sent it back to Flagstar and also turned the reviewer into the state for standards violations in the review. In the end, I never heard from them again, game over for that company.
 
Write Flagstar a letter letting them know that you are blacklisting them from your client base due to bad reviews from other appraisers around the country.
 
I have to agree with all the above. No need to have the name or state of the review appraiser. The state appraisal board has subpoena powers, they will get the name of the reviewer and investigate/prosecute them. And even if Flagstar goes under, you will have proof in hand to counter any ill effects in the future from being on a "do not use" list.
 
[FONT=Verdana, Arial, Helvetica, sans-serif]The Appraiser Blacklist[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]By Matt Barr[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif][/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]You are on a major, big-volume lender’s do-not-use list. The big-volume lender is not calling anymore. You do not know why or how it happened, but you know it is starting to cost you real money. Word spreads that you’ve landed on one client’s blacklist and soon their calls are petering out, too. All you want to know is why someone flagged you as “do-not-use.” You want to give your side of the story. [/FONT]


http://communicatormagazine.com/page283.aspx
 
[FONT=Verdana, Arial, Helvetica, sans-serif]The Appraiser Blacklist[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]By Matt Barr[/FONT]

[FONT=Verdana, Arial, Helvetica, sans-serif]You are on a major, big-volume lender’s do-not-use list. The big-volume lender is not calling anymore. You do not know why or how it happened, but you know it is starting to cost you real money. Word spreads that you’ve landed on one client’s blacklist and soon their calls are petering out, too. All you want to know is why someone flagged you as “do-not-use.” You want to give your side of the story. [/FONT]


http://communicatormagazine.com/page283.aspx

The third paragraph under "Reasons for Blacklisting " only served to **** me off.

:angry:
 
Me too, stupid reviewer used comps 7 miles away. I tried to rebut but they still filed a complaint with the OREA. OREA dropped itafter discussing it for a minute.
 
I received this from Flagstar a few days ago.

"Please be advised that due to your current status with one or more of our business partners, investors and/or
mortgage insurers, we have rescinded your eligible status with Flagstar Bank. Going forward, we cannot accept
appraisals performed by you as the primary or supervisory appraiser."

I have no idea what they are talking about. I called them to ask what the problem was. They said they couldn't give me any additional information only that one of their business partners will no longer use me. They wouldn't tell me who it was or why. They wouldn't tell me what appraisal report this was for or what the issue was.
Does anyone know how I get this information??
I have never been black listed in my life. I don't push value so I have no idea what I could have done wrong. There is a possibility that I could have made some minor mistake in a report - because I am only human! But what, I do not know because they won't tell me!
 
I received this from Flagstar a few days ago.


"Please be advised that due to your current status with one or more of our business partners, investors and/or
mortgage insurers, we have rescinded your eligible status with Flagstar Bank. Going forward, we cannot accept
appraisals performed by you as the primary or supervisory appraiser."

I have no idea what they are talking about. I called them to ask what the problem was. They said they couldn't give me any additional information only that one of their business partners will no longer use me. They wouldn't tell me who it was or why. They wouldn't tell me what appraisal report this was for or what the issue was.
Does anyone know how I get this information??
I have never been black listed in my life. I don't push value so I have no idea what I could have done wrong. There is a possibility that I could have made some minor mistake in a report - because I am only human! But what, I do not know because they won't tell me!

Until some of you get the stones to file a suit for the purpose of forcing the records out of them, you're all going to never know.
 
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