Tag Archives: banking

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 »

AMC Consents to Negligent Conduct

Yes, you read that correctly! Lenders Allies, LLC, an appraisal management company,  has agreed to a consent order with the Texas Appraiser Licensing and Certification Board (TALCB). On May 1, 2019 Lenders Allies agreed to a final order neither admitting guilt or denying guilt of violations of  Texas law. The case revolved around the investigation… 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 »

Judge Orders Quicken and DOJ/ HUD to Mediation

Going on  over three years now, the  law suit between the Department of Justice and HUD against Quicken Loans was ordered to mediation to settle prior to the upcoming trial start date. The allegation that is the center of the lawsuit,  concerns  loans Quicken submitted to FHA that  did not comply with HUD/ FHA requirements.… 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 »

Price Fixing, Who’s Shocked?

The State of Pennsylvania has filed a class action law suit against some of the biggest banks and financial institutions in the country. The claim is these companies conspired to fix the prices on almost $500 billion in bonds issued by Fannie and Freddie over a mere 5 year period from 2009-2014. The named defendants… Read More »

Is This Fraud or What?

Is the Welcome Mat Down and the Door Opened Wide for Fraud? “What Appraisers Need to Know about Property Data Collection” is a topic of discussion in the latest Fannie Mae Newsletter.  The article describes how property data is being collected and being sent to Fannie Mae to determine the type of valuation that is… Read More »

Worthy of Reposting and Sharing

AppraisersBlogs has published an article this morning that is worthy of sharing.  The article highlights a reason lenders want automated values and not appraisers.  The reason may surprise you.   Check it out for yourself.  While you are there, please show AppraiserBlogs how much you appreciate their dedication to the profession by clicking a few Google… Read More »

Important Info & Dates

February 5, 2019: This is the last day to submit comments to Federal Agencies concerning raising the minimum threshold for appraisals from $250,000 to $400,000. As of this writing, 275 comments have been received. Come up folks, there are 70,000 plus appraisers in this country, and less than 1% have commented. Please comment and encourage others… Read More »