“$1,288,000” Allegedly Paid to a “Favored” Appraiser. Is Valuation Independence Good or Bad for Business? (Part 2)

“He directs thousands of appraisals to a small handful of appraisers who will appraise properties at values requested by Horowitz’s broker and lender clients” That’s what Fastapp’s president alleged under oath about the AMC’s founder. In part 1 of this story, we saw the accusations made by Fastapp’s founder Horowitz Read more…

Appraisal Management Company Sued in Consumer Class Action Complaint

A consumer class action complaint has been filed against a lender and its AMC relating to the subject matter of a prior CFPB investigation and settlement. Last August, the Consumer Financial Protection Bureau (CFPB) announced that it had taken action against Amerisave Mortgage Corporation, its affiliated AMC Novo Appraisal Management Company, and one Read more…

Overtime Lawsuits Continue to Spread Among Valuation-Related Companies — Interthinx Becomes the Latest Defendant

First it was Integrated Asset Services.  In February, I wrote here about three employee overtime class actions affecting the Colorado AMC filed on behalf of “timeline managers,” “valuation managers” and “quality reviewers.”  Then it was LandSafe Appraisal.  In April, I wrote an article about a newly filed overtime lawsuit by Read more…