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Bankruptcy Court Absolves Chase of All Liability

An alarming precedent has just been set for real estate appraisers in the bankruptcy case of Evaluation Solutions/ES Appraisal Services (ESA). Despite numerous objections from appraisers and agent/brokers alike, a Florida bankruptcy judge has ruled in favor of JPMorgan Chase in granting a Bar Order which absolves Chase of any liability on future claims from… Read More

Chase Denies Responsibility for Bankrupt AMC Debt

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Editor’s Note: The bankruptcy earlier this year of the appraisal management company (AMC) ESA left millions in unpaid fees to appraisers, agents and brokers, who now are trying to collect from Chase, the bank who hired the AMC.  What happens will have far-reaching effects on the appraiser-AMC relationship and the industry. Chase Denies Responsibility for… Read More

Checkbox Chimps and Review Appraisals

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Appraisers are coining a new term for certain appraisal management company (AMC) staff - “Checkbox Chimps.” These are the personnel who are “reviewing” appraisals, and no matter how solid they may be, are instructing appraisers to change their reports. Are they really providing an “appraisal review” or are they just checking boxes on a form? Are… Read More