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Tag Archives: watchdogs
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 »
The Importance of an Appraiser
The Importance of an Appraiser Simply put, an appraiser is the only person within a real estate transaction that is unbiased and is not compensated based on a sale price or loan amount. Agents, lenders, and loan officers are all compensated based on a percentage of the loan amount or sale price. They have an… Read More »
Appraisers vs. Machines
Appraisers vs. Machines Collateral risk analysis (appraisals being a key element of that) is partially art, partially science. Those two facets are blended inseparably, like a soup…the ingredients can’t be separated. While computers can undeniably perform certain tasks better than humans (such as the handling of large amounts of data) appraisers can perform other absolutely… 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 »
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 »