When it comes to E&O insurance, all appraisers should take the time to understand the concepts of “claims made” and “prior acts” coverage in their policies. Let’s start with this basic fact — all E&O insurance sold to appraisers and similar professions Read more…
Note: Readers can now find cases, laws and articles relating to appraiser independent contractor classification in the “AB 5 Center.” California’s AB 5 and the ABC test are creating new challenges for the retention of appraisers as independent contractors by Read more…
I’ve had many questions from appraisers, appraisal management companies (AMCs) and attorneys about independent contractor classification of appraisers under AB 5, California’s new “gig worker law,” and in relation to my earlier article on the subject. Is the work of Read more…
Note: Readers can now find cases, laws and articles relating to appraiser independent contractor classification in the “AB 5 Center.” Appraisal firms and appraisal management companies utilizing independent contractor appraisers in California need to get familiar with Assembly Bill 5 Read more…
Thank you to the Appraisal Institute and its team for publishing my book Risk Management for Real Estate Appraisers and Appraisal Firms. The book gives practical guidance about liability risk associated with appraisal work and the operation of appraisal firms. Read more…
This is a common question that I’m asked by because many lawsuits against appraisers are filed years after the appraisal, sometimes 10 or more years later. The reason for this is that the plaintiff suing an appraiser may not have Read more…
Overtime class actions by residential real estate appraisers have ravaged large appraisal firms and management companies for the last six years. While there were a few earlier cases, the first signs that overtime litigation under the federal Fair Labor Standards Read more…
Classifying “staff appraisers” as independent contractors, rather than as employees, is a very common business practice among real estate appraisal firms. And, of course, appraisal management companies (AMCs) use a business model that depends entirely on panels of independent contractor Read more…
Updated 12/29/15 Here’s a summary of activity in the last several weeks: (1) Impac/Llano lost a case against an appraiser in New Jersey, (2) Savant’s legal counsel is seeking to withdraw from a case in Florida just weeks before trial Read more…
Impac – Savant – Llano Lose in Colorado. Earlier this morning, a state court judge in Colorado granted an appraiser’s motion to dismiss a Llano Financing lawsuit alleging negligence claims. Impac Funding – a subsidiary of Impact Mortgage and corporate affiliate of Read more…