NY, FirstAM & WaMu article

[David S. Roberson]

Reminds me of Jimmy Swaggart.



http://www.eappraiseit.com/eAppraiseIt VR Reprint 2.pdf

 

[Vegan702]

Are you one of their 'preferred' appraisers?

I don't know, I guess I might be and didn't know it. On my orders from WaMu there is no estimate of value. The only number on the order form is the loan amount even on purchase deals. I bring it in at whatever I bring it in at and have never been questioned on it or pressured by E or WaMu regarding value. In fact the only thing they have ever asked of me besides minor stuff is to explain the declining market in more detail when I have checked declining. That's why I was surprised that people actually get pressured from E or WaMu to hit certain numbers as the only calls I ever get are in regards to turn times, fees, etc from them and those have seemed to subsided over the last month or so. I have been doing about 15-20 a month for E over the last 6 months or so and never had any problems like that. WaMu files are actually some of the higher fee assignments from E, with BofA being the highest fee so far which is almost equal to normal fee of $350. BofA they have been paying $325, WaMu has ranged from $250-$375 depending on the county and they pay $100 for a 1004D which normally I just charge $50 if it is not too far to drive.

 

[Michael Tipton]

It would be my preference to see the OTS to approach WaMu only. I believe that would send a message to the financial institutions that they cannot contract out their Due Diligence obligations as required by federal banking regulations.


Bill Ruberry, a spokesman for the U.S. Office of Thrift Supervision, said the agency is "actively looking into these allegations," adding that he wished Cuomo's office had shared the information it had gathered in the course of its nine-month investigation before going public with it.

http://seattletimes.nwsource.com/html/businesstechnology/2003989314_wamu02.html?syndication=rss

 

[Carnivore]

LSI just got a bonus. They now are the AMC of Choice for WAMU.

You LSI preferred appraisers now have a wonderful opportunity to catch up on your bills and other such things.

But there is a catch. Make sure you have complete well documented work files and all your analysis. Your attorney may need to have those doc's.


For you eappraiseit lackies! Has your risk risen to an unacceptable level.
Remember the eappraiseit thugs have other clients.

RICO : "Despite its harsh provisions, a RICO-related charge is considered easy to prove in court, as it focuses on patterns of behavior as opposed to criminal acts.[2]


http://en.wikipedia.org/wiki/Racketeer_Influenced_and_Corrupt_Organizations_Act

 

[deturner]

LSI just got a bonus. They now are the AMC of Choice for WAMU.

You LSI preferred appraisers now have a wonderful opportunity to catch up on your bills and other such things.

SURPRISE!!!!!!!!!!!!!

It's the same appraisers that were the "preferred appraisers" with the little 'e'.

No ones income will change. It's just being funneled through a different route.



DaveT in NC

 

[Pamela Crowley (Florida)]

The AMC I have the most evidence on is LSI - also involving WAMU.
Think about that as you consider who might be next on the list to file on...

Something on just about all the national AMCs in my 'X-Files'. Which one you want to deal with???

 

[deturner]

The AMC I have the most evidence on is LSI - also involving WAMU.
Think about that as you consider who might be next on the list to file on...

Something on just about all the national AMCs in my 'X-Files'. Which one you want to deal with???

I KNEW there was a reason not to deal with these outfits (outside the normal reasons)

DaveT in NC

 

[The Warrior Monk]

I WOULD NOT SAY THAT I WAS CONDESCENDING TO YOU. I CLEARLY EXPLAINED THE WAMU PROCESS AND WHY I NEEDED YOU TO GO BACK OUT. I TRIED TO NEGOTIATE WITH YOU AND EXPLAINED THAT IT WAS A WAMU REQUIREMENT TO COMPLETE INTERIOR INSPECTIONS WHEN DRIVE-BYS ARE NOT HITTING SALES PRICE.

This is common knowledge and that policy existed prior to WAMU ever using an AMC. It has been noted on the forum before. WAMU was a good client, but I took issue with this policy. I would only take work from them if an interior inspection was part of the SOW.

 

[Ms. Janet]

I don't know, I guess I might be and didn't know it. .

Didn't know? Maybe you should check your paperwork. Apparently, you have to sign an agreement with e to do the work...

Good Afternoon,
First American eAppraiseIT is revisiting our current fee structure for Washington Mutual orders and it’s been determined that you may be affected by this change. You are currently a WaMu panel appraiser and we would like to maintain our business relationship. I have attached the new WAMU target fee schedule agreement. If you choose not to agree to the fees at this time, please reply to this email. If you do wish to agree and become preferred status, please review the agreement , sign and fax it to 800-845-2203.
Your decision is time-sensitive. Please respond by no later then 08/17. If you have any questions, feel free to contact us at amanagement@eappraiseit.com .You may contact us at a later date if you are ever interested.

I'm sure your work is good Vegan. Don't sweat it. :Emoticon_hug:

 

[PropertyEconomics]

I don't see why eAppraiseIT would inflate the appraisals or how, besides altering the appraisals after they were submitted by the appraiser. I haven't done a lot of appraisals for E, probably less then 100 and never has anyone come back to me for any value issues. In fact the only AMC that has ever asked me for a value reconsideration was RELS and that only happened 1 time so far.

Are there people on this forum that have actually had E or another AMC pressure them to increase their values?

Well Vegan it goes like this ..... Good Morning appraisal management person ... we have $8,000,000 a month in business we would like to give you but you can only use this set of appraisers as they ALWAYS get our jobs to come in for us ... are you on board or do we need to go to the next AMC company?

Its not rocket science ...

The same crap they do to us ... was done to them .... and now ... HERE COME DA JUDGE .....