Trace Corp/ Streetlinks

[Alexis Olmo]

Does anyone know if these are sister companies??

Trace Corp/ Streetlinks

Are these AMC's still in business?

I heard Trace Corp may be going out of business and not paying their appraisers.

Thanks





www.sunbeltappraisals.com

[Kat Bryce]

That is what I've heard too..

[Brenda L Cox]

I completed an appraisal for Streetlinks last week. I will let you know if they don't pay.

[Brian Davis]

Alexis - I just happened to see this news release on StreetLinks from October. I thought some of the "statistics" were interesting:

StreetLinks CEO Steve Haslam indicated,

"Approximately 50% of all home loan appraisals are ordered directly from appraisers by mortgage loan officers or processors. It is an inefficient process and regulatory energy around this practice will eventually prevent it.

Thirty-one states already have pending or enacted legislation prohibiting appraiser influence or coercion.

Twelve states expressly prohibit the communication of 'estimated value,' 'target value' or loan terms to appraisers.

Lawsuits alleging appraiser influence, coercion and value inflation are projected to increase dramatically.

Irrespective of legislation, the day is coming soon when every major Lender will insist on arms-length appraisal transactions.

Traditional Appraisal Management Companies do not have the systems, personnel or processes to meet the demands of Mortgage Bankers and Brokers. StreetLinks does -- "

[Joe The Appraiser]

It was strange we got an order from them out of nowhere, didn't even know who streetlinks was. Same username and password as Appraisal.com which was odd as well.
The property was a real odd ball and had been listed for the past 3 years now wanting to refie, in a very declining market. We declined the order. Since then I have researched streetlinks and they were a big lender who switched gears to become a AMC. Haven't had any other orders from them in about 6 months.