The Mysterious “Notice of Claim” to Appraisers Relating to FDIC Lawsuits
This post is for appraisers who have received a document entitled “Notice of Claim — Appraiser” relating to lawsuits filed by the FDIC (see example below). We have received multiple reports from...
View ArticleREVAA and FAIR Call for Market-Driven Approach for Appraisal Fees
Washington, DC (PRWEB) July 14, 2011, Donald Kelly, executive director, Real Estate Valuation Advocacy Association (REVAA), appeared today before the House Financial Services Committee, Subcommittee on...
View ArticleAnother Overtime Class Action Filed Against an AMC
A lawsuit filed last week by a former staff appraiser against LandSafe Appraisal Services, Inc. exemplifies the overtime liability risk faced by many appraisal firms and appraisal management companies....
View ArticleLSI Fees – Absolutely Criminal!
We used to do a lot of work for LSI back when they paid semi decent fees that were only about 10% below the competitive norm back around 1992. I think the norm was around $300 and they were paying...
View ArticleComputer Generated Value vs Human Brain
Around 1992, representatives of LSI (long before they became completely useless as an AMC) visited us in California to discuss some way to involve automation (as in AVMs) to eliminate appraisals. When...
View ArticleUnintended Use & Misleading Appraisal Reports
Unintended and Potentially Misleading At what point do we ALL say enough? When they insist on unlocked PDF, XML or ENV formats that facilitate recipients in removing portions of appraisal reports they...
View ArticleThe FDIC Settles Claims Against WaMu’s Top Officers
The FDIC Settles Claims Against WaMu’s Top Officers. What’s the FDIC’s Case Against LSI Appraisal Worth? In March of this year, the FDIC sued Washington Mutual’s former CEO Kerry Killinger, its former...
View ArticleThe Evil Octopus
Appraisers, it’s not paranoia when ‘the bastards’ really are out to get you (end us as a profession). …Find each octopus and how they relate to our jobs. Look at MISMO Directors list… An Open Letter to...
View ArticleAMC Liability for Deficient Appraisals
…may AMCs be liable for the deficient work of contractor appraisers? Can AMCs be sued for negligence? Can they be sued by borrowers?.. It’s now been a decade since the market relevance of appraisal...
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