Howard Beale was my hero. In one of my favorite movies, "Network", filmed in 1976, Beale, a TV anchor on a network with awful ratings, went for broke. Some considered his rants those of a lunatic. Others found truth and clarity in his message.
Appraisers are at an all time low. They are not organized and likely never will be by the very nature of their independent businesses and by the makeup of their own personalities. That is strength, and not a weakness. You are very strong community, one independent pillar at a time. As a group, appraisers are in a tough spot. The power is concentrated in the hands of a few very large lenders and their third parties. It is their policies that set the tone for everyone else.
At Clearbox, we just launched a complaint process, CBOX, that allows appraisers to file a complaint against any of the stakeholders to the loan process. For example, if an AMC just engaged you for $200.00 and the entire fee collected from the borrower was $500.00 for the appraisal fee, it might warrant a complaint for C&R.
You have been conditioned to believe that if you accept that fee and sign a certification that you have established C&R. No. No. No. I don't care how many times that has been repeated to you but it simply isn't so.
Other possible complaints are for improper blacklisting, unregistered AMCs, Appraisal Independence, non-payment, and others. There is no statute of limitations. If you have a lot of past abuses you wish to get off your chest, file away. Regulators cannot respond to anecdotes, and for the most part, that is all they have from the appraisal community.
Clearbox has automated the process making it fairly easy to file a complaint. We send them directly to the appropriate regulator. But it must be documented. It would never be advisable to inundate the regulators with unfounded claims.
Gratefully, most stakeholders to the appraisal process understand the rules of engagement. A natural shield against unwarranted complaints would be for the lender and their agents to have policies, practices, and procedures transparently posted to their site. We hope CBOX is a natural deterrent and sees little activity. Time will tell.
You must have a premium profile in Clearbox to file a complaint. Other features include access to local and national fee surveys, state laws, an AMC Roster, and ability to share your entire profile with anyone you choose.
If you have any questions about Clearbox just contact firstname.lastname@example.org.
I want you to go to the window, open it, stick your head out and yell: "I'm as mad as hell, and I'm not going to take this anymore." Howard Beale
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