5th November 2014

Appraisers helping Appraisers Destroy the Profession

 Local low-cost home appraisal company now in 23 states

Appraisers working for peanuts

AppraisalSave began in September 2013 with financial help from Start Garden.

October 24, 2014
| By Pete Daly |

An Internet-based home appraisal business launched a little over a year ago in Grand Rapids has expanded into 23 states over the past six months.

Founder Scott Packer and co-founder/partner Jason DeVries of AppraisalSave help real estate agents and homeowners get non-loan appraisals costing $175, which Packer and DeVries say is about half the cost of appraisals required by banks and appraisal management companies as part of the home loan process.

AppraisalSave is an online network of independent licensed appraisers, but it is not an appraisal management company, which are subject …continue reading the rest of this post: Appraisers helping Appraisers Destroy the Profession

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5th November 2014

Case Closed: Appeal Dropped in ESA/Chase Bankruptcy

With the appeal dropped and the Bar Order in full effect, it is unlikely that any further claims against Chase will be pursued for the over five million dollars in unpaid appraisal and BPO fees.

Editor’s Note: The take away of this decision sheds doubt on how many interpret federal law when it comes to lenders and AMCs; the court held there was no agency relationship between Chase and its AMC, Evaluation Solutions/ES Appraisal Services (ESA)- leaving many appraisers with unpaid fees.

Case Closed: Appeal Dropped in ESA/Chase Bankruptcy
By Isaac Peck, Associate Editor

Many appraisers will remember the bankruptcy case of Evaluation Solutions/ES Appraisal Services (ESA), an AMC whose primary client was JPMorgan Chase. After ESA declared bankruptcy in January 2013 with $11 million in unpaid debts, a number of real estate appraisers, agents, and brokers tried to file lawsuits against …continue reading the rest of this post: Case Closed: Appeal Dropped in ESA/Chase Bankruptcy

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