February, 2012 - Appraiser Income

29th February 2012

AGA Petitions Federal Reserve, CFPB

On Capitol Hill, the American Guild of Appraisers (AGA) is petitioning the Federal Reserve Board and the Consumer Financial Protection Bureau to overturn a recently adopted rule that stands in opposition to regulations contained in the Dodd-Frank Act.

The AGA wrote the organization’s plea based on the assertion that the Fed’s new rule poses a threat to “the viability of professional appraisal practice and undermines the legitimacy of real estate appraisals.”

The legislation in question was put in place last year by the Fed, and the regulation allows appraisal management companies (AMCs) to cut fees for appraisers. In its petition, the AGA stated that AMCs control up to 80 percent of the appraisal market and that, by allowing such companies to pay appraisers only a fraction of customary and reasonable fees, the law makes it possible for AMCs to offer fees that are nearly 50 percent below prevailing appraisal rates.

…continue reading the rest of this post: AGA Petitions Federal Reserve, CFPB

posted in Dodd-Frank C&R Topics | 0 Comments

24th February 2012

Upcoming Webinar: Maximizing AMC Orders and Income

Webinar: Maximizing AMC Orders and Income

– “Thanks for all of the tips. I found this very valuable.” – Patrick Jones

– “We learned so much on Tuesday, we decided to come today and bring our office manager.” – Lu Waara

– “I wanted to let you know that myself and another representative from our company sat in on your recent webinar and found it truly informative. I wanted to thank you for the service, and also inquire about how my company can get on your AMC list (as I’ve noticed you, or your company are not in our current system).” -Nick Honiotes, Allstate Appraisal

This Webinar Series starts on Tuesday next week, so reserve your seat now!

Working with the best AMCs, negotiating your own fees, and enjoying a better process–one that meets your income expectations–gives you more power and more choice. Space availability is limited to the first 100 registrants, so register now to reserve your spot!
(*OREP Members always receive a discount)

…continue reading the rest of this post: Upcoming Webinar: Maximizing AMC Orders and Income

posted in Appraiser Marketing | 0 Comments

14th February 2012

ES Appraisal Services – Evalonline.com Not Paying Appraisers

It has come to my attention that ES Appraisal Services / Evalonline.com is not paying appraisers. The story has been the same in all cases.

[UPDATE 01/30/2013] – Bankruptcy and stiffs appraisers of over 9 Million! Read the article here: http://appraiserincome.com/2013/01/30/evaluation-solutions-es-appraisal-services-stiffs-appraisers-of-9349612-79/

[UPDATE 12/20/2012] – Due to unforeseen circumstances Evaluation Solutions, ES Appraisal Services is ceasing operations. Any inquires should be directed to :

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

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

[UPDATE 12/21/2012] – You can also try sending your CHASE invoices to: accounts.payable.research.team@jpmchase.com this is for chase only.

After a while, and numerous past due invoices, contact is made by the appraiser regarding the past due status of invoices. After that point, emails are received stating the profile has been updated and a check should be received in 2-3 business days.

They still send out numerous email requests, so they appear to doing quite a lot of work, but if they aren’t paying, they might be going the route of AppraiserLoft. I would be very careful doing any further work with them until they fix their payment issues.

Other appraisers, please comment below regarding the status of your payments received from this company and if you have any problems receiving payment.

This seems to have started in December.

When I attempted to contact them regarding this issue, I was forwarded to voice mail for ‘Tiffany’. I also sent them a few emails regarding my post, so hopefully something will get resolved soon.

I will post an update on how to get paid asap.

Bryan
UPDATE: 06/27/2012
I am still hearing plenty of problems with them, but check out the link below about factoring if your invoices are not too old.

They are not calling me anymore, but not sure if it is because of my messages here or turning down all work. I have emailed the initial blog post to everyone in their company hoping for a follow up, but they never emailed me back.

UPDATE: 06/13/2012
Still not paying appraisers. Be very careful and look in to factoring your current invoices with them: http://appraiserincome.com/2012/06/12/getting-paid-in-1-day-vs-30-60-90-or-never/

UPDATE: 05/21/2012
Appraisers are still emailing me daily about large open invoices and not getting paid. I would be very careful about doing work with them.

I currently turn down all their offers for work because of this and they call me almost daily.

UPDATE: 02/15/2012
I just got off the phone with Lori @ Es Appraisal and she stated they pay for all their appraisals, but there sometimes might be a delay on payments.

They run their checks once a month, usually on the work 30 days since submitted. This can sometimes result in delays on some payments being received for delivered appraisals. But with many appraisers comments below, it sounds like there are numerous appraisers experiencing payment problems.

Make sure to check your profile, confirm the address on your W9 is where checks should be mailed and update with a new W9 if needed.

Lori also stated you can email her directly with your account information, including your sign-up email and she will look in to it and contact accounting. Email her at lcarter@evalonline.net

[UPDATE 12/20/2012] – Due to unforeseen circumstances Evaluation Solutions, ES Appraisal Services is ceasing operations. Any inquires should be directed to :

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

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

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

posted in Appraisal Management Companies | 169 Comments