21st December 2012

Evaluation Solutions / ES Appraisal Services Goes Morally and Financially Bankrupt

posted in Appraisal Management Companies |

Here is some more information on the latest AMC bankruptcy. How many more is it going to take to get some changes made in the industry? AppraiserLoft screwed hard working appraisers out of $3 Million in unpaid invoices.

I have a feeling Evaluation Solutions / ES Appraisal Services is going to double that figure, maybe even triple. They have been screwing appraisers for years now.

This is a letter from their bankruptcy attorney:

FROM: Stutsman Thames & Markey, P.A.

Our firm has been retained to file a Chapter 7 bankruptcy proceeding for the company. Evaluation Solutions lost its major client earlier this week and was forced to shut down operations. The fact that you are receiving this email means that you are in the system and we are aware of your claim. Once the Chapter 7 case is filed, you will receive a notice and instructions on what to do. A Trustee will be appointed to handle the claims administration process.

The company is not able to make payments on any outstanding invoices at this point.

This is a very large case. It will take our firm a week or two to get the necessary paperwork together. You should be receiving notice of the bankruptcy by mid to late January.

Thank you for your patience.

Brad Markey

Bradley R. Markey
Stutsman Thames & Markey, P.A.
50 N. Laura Street, Suite 1600
Jacksonville, Florida 32202
(904) 358-4000 (904) 358-4001 (Facsimile) brm@stmlaw.net

Additional articles on Evaluation Solutions / ES Appraisal Services:

– http://appraiserincome.com/2012/12/20/evaluation-solutions-es-appraisal-services-is-ceasing-operations-another-appraisersloft-amc-story/

http://appraiserincome.com/2012/02/14/es-appraisal-services-evalonline-com-not-paying-appraisers/

Sorry for the bad news so close to Christmas.

You can also try sending your CHASE invoices to: accounts.payable.research.team@jpmchase.com this is for chase only.

Bryan

There are currently 3 responses to “Evaluation Solutions / ES Appraisal Services Goes Morally and Financially Bankrupt”

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  1. 1 /*On December 21st, 2012*/, Jennifer D said:

    ES Appraisals, Appraisal Loft, JVI gone

    who else owes big time? Read the blogs

    ES Appraisals,JVI/Appraisalloft/Brokerpriceopinion.com/Cartel Asset Management/First Valuation

    With no other forum to protest the companies that do not pay their invoices then let their names be heard! I know the REO Divisions do not like the thought that they have paid for wok that a licensed agent prepared but the “Middle MAn” kept all the $$$

    Please help the thousands of appraisers & aealtors no being paid by others like them ES.

    a JVI Appraisal is an appraisal management company that is a third party company that orders appraisals for major lenders like Suntrust, Wells Fargo, Bank of America, etc. For the past 6+ months they have not been paying appraisers throughout the country for their services.

    JVI has stated that they are no longer paying appraisers, who are owed thousands of dollars in many instances, for the services that have already been performed. JVI has collected the appraisal fees from the lender who has collected the fees from the borrower. Unfortunately, JVI has not paid the appraiser for the work that he or she has done. This has caused appraisers throughout the country to no longer accept work from JVI.

    This is not the first appraisal management company who has had problems in their commitment to pay appraisers. AppraiserLoft filed for Bankruptcy protection in 2011. Apparently there is no protection for small business in this senerio, as most appraisal firms are made up of only 1-10 appraisers. AMC regulation is just around the corner but until then, apparently, companies like JVI can operate with impunity.

    If you are a homeowner refinancing with a major lender like Wells Fargo, Bank of America, Suntrust etc., be sure to ask if your appraisal will be ordered by JVI because you may pay for, but never receive an appraisal.

    Company information:
    brokerpriceopinion.com

    8700 Turnpike Dr. Ste 300
    Westminster, Colorado
    United States

    Phone: 303-991-9919

    brokerpriceopinion.com

    Anyone who has done bpos for brokerpriceopinion.com (or any other bpo company) and has not been paid for bpo services rendered needs to speak up and report them; first, to the Colorado Better Business Bureau, second, to the Colorado Attorney General’s office, and third, to NABPOP. I am in battle to get paid and have filed complaints with the above mentioned. If enough complaints are made, we can stop them from this type of business practice of not paying agents. I strongly encourage all agents to file complaints and have your data ready of jobs completed. I have been told by them through the BBB that I will be paid, but I have not received full payment yet. They did agree to pay me only after I complained to BBB in installment checks cut biweekly, but I have only seen one check and that was in December 2010. They still owe me quite a bit of money. They simply told me before I complained that they did not have the moeny to pay me and they didn’t know when they would have it. They also told me that they were expecting an investor to come above with funds and at that time would be able to pay. Think about it: what investor would invest in a company that has BBB complaints against it? If you do not report them, they will continue to not pay agents for bpos. I’ve seen they’ve been doing this since 2004. NABPOP can certainly help stop them, if not report them to the banks who are using them for the bpos, to stop using them for bpos. If they continue with nonpayment for services rendered, they need to be put out of business.

    I too have gotten the run around from their accounting department. I have orders out for over 6 months in arears and when I am able to get ahold of someone I get a vague run around about how they have no money scheduled to send my way and cant commit. I am sure the lenders they service would be interested to know of the practice of not paying their bills. This is a bad reputation on their firm. I WOULD NOT reccomend anyone doing business with them. 20th of Jul, 2012 by L,kj

    I have yet to be paid for over 30 orders. A fellow RE Agent is due over 100. The best response from BrokerPriceOpinion.com I get is that they are waiting to be paid. I asked the schedulers from the company if they would wait 3 months to be paid and if they were being paid in a timely manner. No Answer!!! So frustrating. I severed my relationship with them over 2 months ago with hopes of cutting any future loss.
    I would like to hear if any one is being paid. 31st of Jul, 2012 by Jesse

    I have completed over 300 total orders for BrokerPriceOpinion.com a FirstVaulation Co., and have NOT been paid for orders that were delivered since before January 01, 2012 (8 months ago). Broker Price Opinion.com, a FIRSTVALUATION company literally owes me thousands of dollars for my work. I dedicated my time and energy in this company and continued in good faith, with the knowledge that I was assisting those within my community to improve their standard of living. I know that it takes money to make money- and I have spend hundreds out of my own pocket to pay for fuel, and expenses regarding the vehicle that transported me to complete the work- not to mention time in my busy work schedule. I have consistently been informed that I am being placed on a payment plan, but have not received a check in months- even then-paying me for work in 2011.
    I have now stopped completing ANY work for this company, in fear that they may file bankruptcy – as other companies have done in the past to excuse themselves from paying agents for their hard work.

    Is there any way to find out what banks or lending institutions use this place and contact them so they know that this place is charging them for these BPO’s and not paying those of us who have done them? I too have been told at first, 30-45 days, then 90 days and now it is over 120 days and no payment. I just let their calls go to voice mail and then do not return their call to do any of their BPO’s. I do work for another company that pays every other week.

    It has been over a year since you posted and we’re still having issues.
    You’re only as good as your paying clients. The same applies to us. Unfortunately I can no longer perform services for your company…perhaps you should consider the same. As the old saying goes, “If the horse is dead; dismount!”
    Respectfully,
    Dan Young
    Broker

    OhioBroker, was told walter coats and his daughter brand (Coats) May decide who get paid, if anyone
    he resposnible parties and pssible contacts to assist with my collection. Walter Coats 303-991-9919 brandy (coats) May 303-991-9919
    contact bbb, at least a response
    995 Alkire Street Golden, Colorado 80401 or 8700 Turnpike Drive Suite 300 Westminster, Co 80033

    I am usually very good about checking blogs to check companies out before I start doing work for them. For some reason I didn’t do that for BrokerPriceOpinion.com and now I am no longer doing work for them. I am into them for $120. I did get someone on the phone who told me they paid 90 days out. That’s when I googled them and found all the years worth of comments saying they do not pay (even after that 90 days they told me.) But today I received an email from someone with FirstValuations, I did not know they were one and the same. Once I got the order with BPO on it I declined.

    Below is the response from Sarah in their accounting department after weeks of empty promises
    of payment for over 80 orders “No payments have been made this year on your account. I see that your account was already scheduled for payment. Regrettably, we have fallen behind in our scheduled payments and have not yet been able to send these out. We are asking that you please bear with us a little longer as we are waiting on some receipts to come in so that we may send these out. We know it’s been a long time already and hope that you accept our apologies and rest assured that your orders are indeed scheduled and will be sent as soon as possible.” It appears the company is in financial trouble.

    mail a complaint letter to the Attorney Generals for non-payment of BPO’s against bpo.com, cartel, first valuation, For anyone lse that wants to sedn a complaint against this company here is the address: John Suthers
    Office of the Attorney General, 1525 Sherman St., 7th floor
    Denver, CO 80203
    Main Switchboard – 303-866-4500, attorney.general@state.co.us

    This should be on other websites and hope that all agents that have been “burned” by this company will send a complaint letter, as the more complaints received the better our chances are of getting these BPO Mills to pay up.
    Yes it is all the same promises. I have received a few checks from First Valuation but I am owed for 6 months of orders, I have completed for BrokerPriceopinion.com. They owe me for over 100 orders. I have done work for this company for years always the same get paid in 4-7 months. They call us Vendors. When I was in the corporate world we called the people up or down the line our customers. This company needs help and so does anyone that accepts anymore orders.

    Evaluation Solutions owes me almost $1000.00 for BPO’s I did in the past year. I have been calling and every time I get the run around. Eventually someone will forward a request to “accounting” to pay me, yet I still have received no money. Ironically, ever since I have been calling them about non-payment I have suddenly stopped receiving BPO’s from them. I’m mad. Does anyone have any idea as to what I can do? Some good companies that pay that I do BPO’s for are First American, Fiserv, Old Republic (even though they pay next to nothing for BPO’s), and SingleSourceProperty.com. HOW CAN THIS EVALUATION SOLUTION’S GET AWAY WITH THIS!!!???

    I am sick and tired of fighting with BPO companies to pay me for work received. The main irritant is that they lie to you. This one says 90 days net and then never pays and Evalutation Soltuions hoesn’t even seem to give a crap, no response or a lame one. There should be a governing body other than the lcoal AG office. The only thing that seems to get their attention is when you threaten to contact the asset managers and put a lien on the property or start complaining to the asset holders. Consider that as an option.

    I too am now owed $1700 in BPO’s and wish I would have read this first. PLEASE let’s all report them to the BBB and whomever else will listen so they can revamp their business practices. I was given the same name Jamie Jones which has NEVER returned not one phone call. I called 15 different extensions on yesterday and left 15 messages on different voicemails and NOT ONE person returned a phone call. This company is really horrible and I will not do another BPO for them ever!!!

    Anyone who has done bpos for brokerpriceopinion.com, first valuation, cartel asset (or any other bpo company) and has not been paid for bpo services rendered needs to speak up and report them; first, to the Colorado Better Business Bureau, second, to the Colorado Attorney General’s office, and third, to NABPOP. I am in battle to get paid and have filed complaints with the above mentioned. If enough complaints are made, we can stop them from this type of business practice of not paying agents. I strongly encourage all agents to file complaints and have your data ready of jobs completed. I have been told by them through the BBB that I will be paid, but I have not received full payment yet. They did agree to pay me only after I complained to BBB in installment checks cut biweekly, but I have only seen one check. They still owe me quite a bit of money. They simply told me before I complained that they did not have the moeny to pay me and they didn’t know when they would have it. They also told me that they were expecting an investor to come above with funds and at that time would be able to pay. Think about it: what investor would invest in a company that has BBB complaints against it? If you do not report them, they will continue to not pay agents for bpos. I’ve seen they’ve been doing this since 1999 or 2000. if not report them to the banks who are using them for the bpos, to stop using them for bpos. If they continue with nonpayment for services rendered, they need to be put out of business.

    BEWARE ! I have been trying to get payment for a BPO done in July 2011 and another done in November. I was told in January that they were waiting on some money before they could pay their vendors…If they don’t have any money, they should not be actively recruiting new orders. I didn’t realize until Jan. that they hadn’t paid for their old BPO’s. Now I am on the hook for 4 unpaid BPO’s.

    brokerpriceopinion.com/ First Valuation has $4100 in unpaid receivablesdue me.
    When I asked about payment, first they said 60 days. At 60 days, I asked, then I was told 90 days, then payment plan, no payments.
    I have been researching the resposnible parties and pssible contacts to assist with my collection.
    Walter Coats 303-991-9919
    Brandy (Coats) May 303-991-9919
    995 Alkire Street Golden, Colorado 80401 or
    8700 Turnpike Drive Suite 300 Westminster, Co 80033

    Class Action: Attorney To Gather BPO Nonpayment Complaints

    by Blanche Evans

    Real estate professionals from all over the country who are owed monies from slow-pay or nonpaying asset managers may obtain some help with relief through a Texas attorney. Debra Parker, attorney at law, is representing broker Joe Gluckman to help him collect over $2,500 he says he is owed by Cartel Asset Management, an asset management company located in Colorado.

    Ms. Parker has told Realty Times that she is willing to receive complaints by real estate professionals who have not been paid for work they have done – regardless of where they live or which companies owe them money. See Parker’s contact information below.

    Litigation is always a last resort, and relief from the courts typically depends on the amount of monies owed, and whether or not there was intent to defraud, and if the company being sued has assets.

    According to Ms. Parker, a history of nonpayment may point to fraudulent intent. All she needs is a provable case. And that means collecting evidence from as many real estate professionals who have been stiffed by asset management companies as possible. First in line is Joe Gluckman who says he is more than willing to be lead plaintiff against Cartel.

    Several attempts by Realty Times to contact Walt Coats, owner/principal of Cartel Asset Management, have been unsuccessful.

    Gluckman says he has tried to collect $2,500 in BPOs for over a year. Like other Cartel subcontractors, Gluckman was promised via e-mail that his payment is scheduled for ‘batch 144,’ while the company is currently paying ‘batch 108.’ Other real estate professionals report that Cartel’s ‘batch 108’ message has been used by the company for years. Further, Cartel refuses to give agents any indication as to when their batch will be paid.

    Like other Realtors, Gluckman was reluctant to hire an attorney. “The amounts of money are too small until you aggregate it,” he says. But now, his strategy is to get a default money judgment from small claims court and to file the judgment in Colorado where Cartel may have assets.

    “A judgment may not do anything unless we discover that they have assets,” says Gluckman.

    Parker explains how judgments work in Texas. “By statute, you have to send a demand letter for payment, and in the letter you demand that you get paid within 30 days. At the end of the 30 days, if there is no resolution, then you can file a claim in small claims, county court or district court. Each court has its own jurisdictional money limits. Other states have their own court system. You serve the company, and if they have a defense you set it for a court hearing. If they don’t show up for the hearing, you get a default judgment and you file that judgment in the county where the company holds assets. Once the judgment is filed, they cannot convey any property, cars, anything that has a title or is registered.”

    Parker, who just got the case, says she has not had a chance to research Cartel’s possible assets, but ‘you can put liens on property if they own any buildings, liens on any equipment they may own, and when these judgments go in, they won’t be able to borrow capital, so if they have loans with banks, it will be on their record.’ And, ‘you might be able to go individually against the owners,’ she says.

    Real estate professionals are at a disadvantage when dealing with asset managers. One problem is that BPOs by brokers who don’t hold appraiser’s licenses may not be legal in some states. An appraiser’s license is required to render an appraisal on a property, whether it is called a BPO or not. Most states allow real estate brokers to circumvent this rule if it can be proven that they are providing the broker price opinion in anticipation of listing the home. However, some brokers do enough BPOs that do not end up with listings that it could be argued that they are doing BPOs illegally. In that case, these brokers prefer not to take the risk of exposure, and simply refuse to do business with the nonpaying asset manager anymore.

    But, in most cases, the asset managers promise listings to brokers. That’s one way they keep the price of BPOs at less than half or better of a typical limited appraisal. In most cases, the amounts are so small that many brokers prefer to simply let it go when they aren’t paid. Judgments are expensive. “The filing fee and getting the person served is over $100,” says Parker. “That is recoverable in the judgment, but when you get the money is the big question.”

    Parker says that if brokers can come together, they can become a class and file a class action suit against companies which make a habit of stiffing them on BPOs and other services.

    “You have to get the people together and get a federal court to identify that the class has been damaged,” says Parker. “We start with that. Anyone can send me an e-mail regarding what happened in their situation and see if we have enough claims and the right elements to file a class action.”

    Meanwhile, what should real estate professionals do to get paid?

    “They should talk to the attorney general in their state,” advises Parker. “It sounds like these people (Cartel, et al.) are committing fraud, and the attorney general would be very interested in knowing about that.”

    “Keep a paper trail of any communications with the company and all the contracts that were in writing,” says Parker. “This is an unsecured debt, so a faxed agreement works and so does the affidavit of the plaintiff. You don’t need a work order to collect, but a work order is always best to have.”

    If you have filled an order for a BPO or other services for any asset manager and have not been paid, contact Debra Parker at debraparker@justice.com or call her at 210-867-5860.

    Brokerpriceopinion.com/Cartel Asset Management/First Valuation Walt Coats, he controls everything, always has and always will, 13 year history of complaints.

    Here are some other current senior executives listed on the website, as maybe they can assist you:
    waltc@firstvaluation.com
    waltm@firstvaluation.com
    chrism@firstvaluation.com
    brandym@firstvaluation.com
    sue.potteiger@firstvaluation.com
    garyf@firstvaluation.com
    brandonm@firstvaluation.com
    brandono@firstvaluation.com

  2. 2 /*On December 23rd, 2012*/, Debb Dideum said:

    I did work in April & May 2012 for Eval and stopped work in June-August as I had not been paid. I might need the money, but I don’t incur expenses just to work for free…. Well they did paid me so I started work for them in September again and now they owe me just over $2400. I had been invoicing them since early November and had an email Nov. 13th stating they were reconciling my account the following week. They gave me the run around as I continued to invoice them via email and by snail mail with a signature required.

    From everything I have read I feel very glad to of been paid for work earlier this year. Yet I incurred over $600 in gas expense alone to do the work starting in September (Very rural area & I need the income) If they get away with this my disgust with the industry could be complete. I have been selling RE since 1983 and despite my smile, this business has been demolished and demoralized. NAR has prevented the banks from getting directly into the real estate business many times. I could get side tracked there.. anyway, as it stands now the banks are getting just what they want at many many peoples expense.

    I have an odd thing on one file I’ll share. It was a difficult order (as most were) and I was told to do the BPO even though I found a small park type mobile still on wheels, they insisted I do the BPO because they had a prior. So I did it as a singlewide and submitted the order. They sent it back many times because my pics didn’t match the prior and they wanted me to justify the address as if I had been at the wrong property. Once I showed them all the facts they were finally convinced I had the right property and the order disappeared. They finally told me it had been reassigned as a land order and that was a different department but I would get paid on it as I had done the work. So this order finally shows back up in my portal and it had the bank order attached to it. So I checked it out and it appears as though they charged the bank an additional $275. for a land appraisal ordered thru ES Appraisal Services and the attached Appraisal Engagement Letter is for ME. I am not an appraiser, nor did I agree to do a land appraisal for ES Appraisal Services…. The delivery instructions require me to do things I never did, nor am I even familiar with… Did they invoice their client Washington Mutual/Chase twice for work I did once? Stranger still, Eval sent me a check for this one earlier this month. They owe for many prior BPO’s, why this one?

    Eval was a terrible company to work for and I would be willing to be a part of / provide what I know if someone out there knows how to go back after them for both the money owed and their behavior / treatment of agents, bad business practices, whatever. Seems to me the company might be untouchable with the bankruptcy but criminal behavior?

    Eval (Evil) the Grinch who stole xmas! So onward & Happy New Year.

  3. 3 /*On January 16th, 2013*/, Fred said:

    Appraisers need to ask for payment upfront through paypal. Why trust someone that you don’t know. If all appraisers banded together on this then the client would have to front the money to the AMC in order to get the appraisal done. When will appraisers learn their lesson? No pay, no appraisal.

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