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LO friend of mine forwarded this to me today

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mp2277

Thread Starter
Junior Member
Joined
Mar 21, 2008
Professional Status
Certified Residential Appraiser
State
Virginia






My name is Shane Lefkowitz, and I am contacting you from Leading Edge RES, Inc., a national Appraisal Management Company. I came across your website and I wanted to let you know about a truly incredible partnership opportunity!

Whether we like it or not, our industry is changing and we do not know for certain what tomorrow will bring. The new Home Valuation Code of Conduct will probably take effect in the near future which is set to bring radical changes to our normal course of business. Most significantly, loan officers will no longer be permitted to personally select their appraisers of choice, but will have to use an Appraisal Management Company.

Leading Edge RES, Inc. is currently one of the fastest growing Appraisal Management Companies in the nation. Our model provides exceptional customer service and the highest quality appraisals at competitive prices.

We are currently seeking well connected loan officers to serve as our Independent Account Representatives. Using your connections with fellow loan officers, simply refer appraisal orders to us and receive 20% of the collected appraisal fees! If you are connected with three offices that order three appraisals per week, it could easily be worth over $22,000/yr to you! This is a fantastic way to use your connections to create an outstanding supplemental income!

If you have any questions, or are interested, please contact us at [email protected]. To join our team or review our contract, go to www.leadingedgeres.com/joinourteam.

Regardless of the outcome of the Home Valuation Code of Conduct, we hope you will see how valuable our partnership can be for you. We look forward to having you join our team today!

Best regards,
Shane XXXXXXXX
National Business Developer
Leading Edge RES, LLC
Real Estate Appraisal
[email protected]
www.xxxxxxxxxx.com
 
Last edited by a moderator:
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
mp2277,

Please forward that to me so I can respond to him. My email: pec514 @ yahoo. com (remove the spaces)
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
How come everyone of them that contacts us now is the FASTEST growing???
 

timd354

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
mp2277,

Please forward that to me so I can respond to him. My email: pec514 @ yahoo. com (remove the spaces)

Pam,

Why would you want to email this clown and let him know that people are on to their clearly illegal conduct so they can take steps to cover their tracks. It would be better to forward this to law enforcement and try to get law enforcement to go after these guys. It seems to me that this email alone gives enough probably cause for a search warrant to issued.
 

Obsolescent

Senior Member
Joined
Jul 6, 2004
Professional Status
Certified Residential Appraiser
State
Minnesota
3 offices x 3 appraisals per week = 9 appraisals. 9x52weeks = 468 appraisals per year.
$22,000 / 468 appraisals = $47 kickback to the LO (which is likely less than what their already skimming.)

Means they're gonna pay roughly $225 to the appraiser.
 

Mister Ed

Senior Member
Joined
Jan 24, 2004
Professional Status
Certified Residential Appraiser
State
Georgia
Sounds like a GREAT pyramid scheme to me...
 

Obsolescent

Senior Member
Joined
Jul 6, 2004
Professional Status
Certified Residential Appraiser
State
Minnesota
How come everyone of them that contacts us now is the FASTEST growing???

Why does everyone who engages the services of an appraiser feel entitled to a chunk of his fee?

What is more baffling is why so many appraisers think it a sound business decision to actually agree to the extortion. Call an auto mechanic and tell him your gonna have your sister bring in her car but the shop's gonna have to give you 20% of whatever they charge or your going to seek out another mechanic who will. Call a loan officer and tell them you know someone who needs a loan but you want 20% of his commission or you'll find a hungrier LO who will agree. Ain't gonna happen. But I understand...those appraisers who are fearful of losing business if they don't acquiesce to the extortion still remain hopeful for future change. Those who stay on the low fee hampster wheel will eventually tire and cause their own demise while those who are proactive and seek better business relationships will survive.

I'm done with my rant. Its been discussed ad nauseum anyway.
 
Last edited:

AL LLANOS

Junior Member
Joined
Apr 28, 2006
Professional Status
Licensed Appraiser
State
California
3 offices x 3 appraisals per week = 9 appraisals. 9x52weeks = 468 appraisals per year.
$22,000 / 468 appraisals = $47 kickback to the LO (which is likely less than what their already skimming.)

Means they're gonna pay roughly $225 to the appraiser.

This sounds just like the mob.:angry:
 

Tom Barclay

Senior Member
Joined
Apr 7, 2002
Professional Status
Retired Appraiser
State
Oregon
In addition to the RESPA conflicts, it appears to me to have serious problems with the Sherman Act. A US attorney's general office should be made aware of this.
 
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