A Conversation About Blacklisting on the Appraiser Coach Podcast

PodCast: 
Thursday, May 7, 2015

Brian Trotier, FREA’s Executive Vice President and Chief Operating Officer, was recently invited to speak on the Appraiser Coach Podcast on the topic of blacklisting and issues that affect both your work and your livelihood.

 

CLICK THE PLAY BUTTON ON THE TOP OF THIS PAGE TO LISTEN NOW.

 

Top takeaways for this episode:

  1. Being on one blacklist is scarier than you think. In the old days, if you were on a “do not use” list, lenders simply wouldn’t use you. Now, every large lender keeps these lists updated, publishes them and circulates them to AMCs. Once you’re on one list, the potential for your name to be passed through to other lists increases significantly.

  2. Blacklisting isn’t the only worry for appraisers right now. Our industry is talking a lot about the Collateral Underwriter right now and blacklisting is getting pushed to the background. That’s a big mistake -- they are both important. In this episode we talk about why.

  3. Challenges with due process. One of the biggest challenges with getting on a blacklist is that there is very little recourse. If you end up on a list without good reason, how do you get off the list? It can take months, or even years.

  4. Class action. One appraiser taking on the blacklisting entity alone is going to be costly and a serious uphill battle. A class action might be another option, but it requires much more coordination and time.

  5. Get involved. You don’t need to wait until your name is on a blacklist to get involved. Let your representatives know that due process is not happening.

 

Resources related to this episode:

 

 

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