Who will be the next record setting AMC to totally rip off appraisers? When will litigation be put in place by state licensing agencies so this can’t happen?
This is the total amount of money owed to appraisers by ES Appraisals from Peter Christensen general counsel with LIA.
That is a HUGE jump from what Appraisers Loft took from hard working appraisers. 3 Million sounded big back then…
Who will be the next Appraisal Management Company to collect fees exceeding $27 Million and never pay the appraisers a dime!
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Peter Christensen is an attorney who advises professionals and businesses about legal and regulatory issues concerning valuation and insurance. He serves as general counsel to LIA Administrators & Insurance Services. He can be reached at email@example.com.
Sorry to all the appraisers out there that were taken for a ride. Hopefully something will be done about this in the near future so this doesn’t keep happening every year or so.