"Your status has been changed to Ineligible and will no longer accept appraisals performed by you"

[Sandra Farrance]

The dreaded form letter was received by me in July, 2009. Several weeks prior to receiving this letter, orders from my biggest client, ceased. On further investigation, I learned I was removed from the lender's list due to a Field Review. Without having an opportunity to respond to this Field Review, I was simply removed. I received a partial copy of this Field Review several days later. I was informed I had 21 days to respond and after submitting my rebuttal received another form letter from Chase Home Lending saying they would get back to me within 90 days.

The Field Review was astonishingly inaccurate and so extremely biased, it appeared to me that the Reviewer had an pre-arranged agenda to discredit me. I spent the next several days writing a rebuttal, a 27 page document supporting my appraisal. The Field Reviewer supported his value based on three distressed sales and/or foreclosures. I further supported that the Reviewers work was sloppy, careless, unsupported and inaccurate. In my response to the lender, I refuted all of the statements made by the Reviewer and clearly, with documentation, supported my work.

I further informed the lender that due to the Reviewers damaging review, has caused me emotional distress, damage of reputation and loss of income. Due to my being "blacklisted" from Chase, other lenders have now rejected me as their appraiser due to their affiliation with them.

I further requested that they provide me with the entire review so that I may present his work to the Appraisal Commission, noting that the Real Estate Appraisal Division may be the best judge of this most serious matter and consequences caused by an Reviewers incompetence.

It is now September and have not received a response from the lender. At the moment, I am working with my attorney to bring suit against the Reviewer along with the lender. Those of you who have incurred similar damage may wish to join me in a Class action law suit. Please provide your comments.

[Paul Moy]

If you're on the blacklist, you're still on the blacklist. Found out through the AMC who's client is selling to Chase. Per the reply of the client's underwriter: "I was told that anyone on the list before the article will still need to work on getting off the list."

Like you can really trust the competency of their appraisal panel to ferret out a "bad" appraisal.

Here's an example of one in which I did for eAppraiseIT, in my "salad days," for Chase. The subject was a split level without a garage. All the comps I used were split levels without garages. The LO calls and asks me why I didn't use split levels with garages, and adjust downward. She indicated that the prior appraiser did that. So I ask her to send me that prior appraisal. So, I did a search for comps within a year of that effective date. Guess what? Yup, there were more than enough comps that were split levels without garages. Someone was shooting high, whether it was the appraiser or the LO, I don't know. If I recall correctly, that appraisal had maybe one comp without a garage, with the other comps adjusted downwards for their garages. Needless to say, IMO, there were "good" comps that suggested a lower value.

But of course, they were unhappy with me.

Needless to say, should I get cleared by the state, I am definitely going to sue Chase.

[Praiser]

I think I know (common theme) how this happens. Will not talk about here in this public traceable forum. If you want to discuss this matter in a private manner please let me know how to contact. And yes I may be ready for a class action.

[Appraiser Central]

I found this on the internet written by someone else (not me) but found it intereesting

"I will admit that something fishy is going on over at Chase that deals directly with appraisers. Apparently, they have filed more complaints against appraisers in all 50 states than any other lender. Everytime they file a complaint the state has to investigate. If the state fines the appraiser, this opens the door for Chase to sue the appraiser's insurance company and collect on the insurance (up to $1 MILLION per claim). They're doing this to thousands of appraisers nationwide even when in most instances there are no violations. Whether their lending is flawed or they're throwing appraisers out to the sharks, something must be done to stop them"

Thoughts?

[Steven Philip Gray]

One of the problems that Sandra and others like her that have been blacklisted, from now on when she/they apply to new lenders or AMC's there is always that question they ask "Have you ever been removed from a lender's approved list?". If you answer "yes", you're done, they won't take you on.

If insurance companies were doing this to doctors based on patient questionaires, there'd be legislative action..... why don't we have any power?