We see it again and again: AMCs and lenders demanding that appraisers attach E&O insurance information to the back of their appraisal reports. It’s not just a bad idea for the appraiser; it’s a bad idea for the AMCs and lenders themselves because they risk getting themselves dragged into litigation filed by borrowers Read more…
Because some AMCs continue to insist that appraisers do it, we are asked this question a lot: “should I attach my E&O declarations page to my appraisal report?” The answer is always the same: it’s a bad idea. It’s bad for both the appraiser and the client/AMC. It is perfectly Read more…
We are looking forward to another challenging year in the business of insuring and defending claims in the appraisal industry. Based on recently filed cases, threatened litigation and emerging issues, these are LIA Administrators & Insurance Services’ predictions for the biggest liability risks that we expect for appraisal management companies Read more…