Category Archives: Warnings

The Raging Fire is Out of Control!

Are the profits being reported by Fannie and Freddie being skewed because of price fixing?  In an article released on CNBC by Reuters, US District Judge Jed Rakoff ruled investors can pursue antitrust claims against banks for conspiring to fix prices of bonds from Fannie Mae and Freddie Mac.  According to the article, there are… Read More »

Another AMC Shuts Down

Rob Chrisman Reports Appraiser Connections Closes it Doors. “It is with great sadness that I must inform everyone that effective immediately Appraiser Connections is shutting down. All orders in the system will be complete, just no new orders. Retail loan officers will be given new user IDs for the new AMC that will be taking over and… Read More »

Bounced Checks

VaCAP has learned that another AMC might be having financial difficulties. There are conversations currently taking place in two appraiser groups on Facebook. The discussions are in 100% Real Estate Appraisers and Appraisal Client Search and revolve around a bounced check from an appraisal management company.  The comments are varied and some are stating they… Read More »

Will This be the Next Housing Bubble?

What is it going to take for every appraiser to comment on Town Hall concerning the proposed Guidance Document on hybrid appraisals?  Even if you have no intentions of ever completing a hybrid appraisal, it is important for you to place a comment on Town Hall concerning the document and these questionable products. If appraisers… Read More »

CoreLogic Chief Legal Council Resigns

Last week  VaCAP shared the  DOJ was investigating CoreLogic. Today we learned the Chief Legal Officer for CoreLogic, Arnold Pinkston has resigned. Coincidence or getting out ahead of what is coming?  Time will tell.  Mr. Pinkston has been  Chief Legal Officer since  January 2018.  See the story here. Corelogic’s chief counsel is leaving the company… Read More »

Explosive News: DOJ Goes after CoreLogic!

The Department of Justice has sent a Civil Information Demand  (CID) notice to CoreLogic. The CID  requires CoreLogic turn over documents and answer questions.   The article by Rob Hahn explains that the case revolves around not only the search features of the MLS systems, but the contracts and agreements on the use of MLS data… Read More »

It Was One of Those Weeks….

Things went a bit crazy, but in a very good way! Monday April 29th, VaCAP launched a consumer protection campaign on WRVA 1140 AM News Radio.  Our email and social media accounts  were non stop.  Many of our sister Coalitions in The Network of State Coalitions helped spread the word and shared our Press Release… Read More »

No Payment to Appraisers

Last week VaCAP shared information on Clarocity Corporation and how the main investor StableView Assets was seizing the shares and foreclosing on the working assets, which includes Clarocity Valuation Services.  StableView in turn had an agreement to sell Clarocity Valuation Services to I Look About. We warned to proceed with caution or do not proceed… Read More »

AMC being sued for Bifurcation

AMC being sued for Bifurcation! VaCAP was forwarded an article this afternoon by one of our members.  The article from Foreclosurepedia is dated August 15, 2018 and concerns a class action law suit filed by property inspectors. ServiceLink Field Services, a division of ServiceLink is being sued for misclassifying employees. From the complaint filed in… Read More »

What Should an Appraiser Do?

You have accepted an appraisal assignment for a purchase. Your client is the lender. Upon reviewing the sales contract, the following preprinted language is in the sales contract: “This contract is not contingent upon the Property being valued at an Appraised Value according to the Lender’s appraisal or other appraisal as agreed upon by the… Read More »