NY, FirstAM & WaMu article

[Joyce Potts]

Wow! Thanks Pam. Your hard work will pay big dividends and you deserve it. It's not just these large AMC outfits. It's the entire mortgage industry. Certified Appraiser with 14 years experience, and the business model of honesty, integrity, quality, and professional, keeps me poor and out of lawsuits. I never thought our profession would come to appraisers advertising "Free Comp Checks", "Fast", "cheap", broadcast appraisal requests for a minimal value, and even borrowers are now calling for a guaranteed value. I'm excited about this lawsuit and if nothing else prevails, I pray the characteristics of honest and integrity will make a comeback in our profession. Recently, I had a mortgage broker tell me he wouldn't use my services because of my reputation of being too honest, too clean. However, I appraised all ten of his properites 2 months ago. His reply was " I wanted a honest appraisal, so I hired you because I don't trust none of the appraisers I regularly use." Unfortunately, this is the enviroment honest appraisers have to deal with in todays marketplace.

We must be related somehow.

 

[Lost Cause]

Liars

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.

Dear Mr. Ruberry,

You and your agency are full of excrement.

Yours, ever so sincerely.
**************************

 

[Kevin Mc]

Dear Mr. Ruberry,

You and your agency are full of excrement.

Yours, ever so sincerely.
**************************

Thank you JH.

 

[deturner]

Dear Mr. Ruberry,

You and your agency are full of excrement.

Yours, ever so sincerely.
**************************

I thinks we should all send this message

DaveT

 

[Mike Scannell]

QUOTE:Gred Boyd
After several weird incidents involving borrowers stating that had to call me back before they could accept the property inspection appointment I learned that WaMu loan reps were instructing them to check back with them and tell them the name of the appriaser that called. If they didn't like the name they would cancel the assignment. I was mad enough to call the loan rep and it was the branch manager of a local WaMu shop. He told me that it was their "policy" (although he didn't use that exact word.)

(...and ref. post #75, this thread)


I can't begin to count how many times this happened to us before local WAMU folks were able to get us off the AMC's (both Eape and LSI) lists.

AKABEAR

 

[Ray Miller]

QUOTE:Gred Boyd
After several weird incidents involving borrowers stating that had to call me back before they could accept the property inspection appointment I learned that WaMu loan reps were instructing them to check back with them and tell them the name of the appriaser that called. If they didn't like the name they would cancel the assignment. I was mad enough to call the loan rep and it was the branch manager of a local WaMu shop. He told me that it was their "policy" (although he didn't use that exact word.)

(...and ref. post #75, this thread)


I can't begin to count how many times this happened to us before local WAMU folks were able to get us off the AMC's (both Eape and LSI) lists.

AKABEAR

Happen a couple of times with LSI and then I never got an order from them having been on the original pannel for both review work and appraisals. Just went to a dried up stream of income after the big one took over.

 

[Shelley Anderson]

I've been kind of a lurker on this list, but this info is just too much for me!!! I used to be a staff appraiser with eA during this time. I quit several months after WAMU came aboard. I heard from one of WAMU's hand selected employees (well, this person was a former WAMU employee), "I'm tired of hearing complaints from WAMU about your values." At that point, I no longer did appraisals for WAMU while at eA, which was MY request. I got tired of ROV's just about every report I did. Suggestions of comps I should use were outlandish in my book.

 

[deturner]

Now the question is........

What purpose does the AMC have? It appears the lender is still choosing the appraiser but the appraiser is getting paid less. It's basically put a third party in the mix and, like someone mentioned, allowed another to take the heat for poor work.

I hope the lenders will get their rewards for this as well as the AMC. (Don't know how they can hide their involvement)

DaveT in NC

 

[Pamela Crowley (Florida)]

But, but, but.... they were trying to blame ME in their suit against me for the disintegration of their business relationships!

 

[Brad Ellis]

Pam,

First, I did go back and read the hearing transcript and I will agree that the testimony covered more than just the unlocking issue. Now, whether or not a judge will accept the suit against EAppraiseIT as evidence in your case, or allow latitude due to that will obviously be up to your judge. But I agree you have a better chance.

Now your recent post:

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 find that fascinating- and NO I am not asking for you to divulge specifics until you can. But I sure will be waiting with bated breath to see it all. Not just about LSI either- I'd love to know about any and all AMCs.

I do not know if you are permitted to tell me, but I have a question:

Does the NY AG have this stuff on the other AMCs?

Brad