In the Matter of CoreLogic, Inc., a corporation, File No. 131 0199
In the Matter of CoreLogic, Inc., Docket No. C--4458. This company has become a monopoly in the Appraisal industry having taken over everything that has made an appraiser "independent". Our "confidential" data is being shared within their "acquired" companies and used to slowly destroy our services. I receive numerous emails weekly requesting for me to "provide a quote request" for a proposed order. I believe we have reasonable and customary fees in place and should be on a rotation? These "fee requests" are blasted out to numerous appraisers with the "lowest fee & fastest turn time" receiving the order. I can realistically say I am never assigned the order. I no longer reply to these requests. This is only the tip of the iceberg. We jump through hoops to get the orders, we jump through hoops to submit the final reports and jump through more hoops because of the incompetence of the reviewer and/or software that reviews our work. The appraisal reports have become an encyclopedia explaining every detail as to address every irrelevant matter. The software which you are required to utilize to upload a report consistently rejects them and requires explanations (which are already addressed within the report). These additional provisions and obligations make for much wasted time. They vacillate appraisers to perform in a manner which is controlled. "Lender requirements" require appraisers to breach USPAP daily. CoreLogic micromanages appraisers with consistent "status updates" via email. I have strived to annihilate myself from these practices. When a company like CoreLogic is creating a holding of every aspect of our business I find it difficult to perform in a career in which I have spent years to be professional and credible. The email I received today they (CoreLogic) have taken over 100% ownership of AlaMode (my software program) warrants a reconstruction of this industry and the monopoly that is destroying so many livelihoods. The information I provide for a lender via an appraisal report is confidential. After further research, I have discovered the following: USPAP requires an appraiser to verify data we acquire (and pay for) through our MLS (owned by CoreLogic) which is typically verified through assessor's records and such models as Realist.com (owned by CoreLogic), cost approach data (pay for) Marshall & Swift (owned by CoreLogic), provide flood maps(pay for)-www.floodcert.com (again CoreLogic). I have also found that review programs (LSAM) is also a CoreLogic owned company as well Appraisal Port & LandSafe, Mercury Network (online lender portals) that we pay a fee to accept work, Columbia Institute (appraisal continuing education), which we have mandatory CE that we pay for, Dotloop(automated contract software & database for real estate contracts) as well as the Appraisal Summit Conference, RealQuest & DataQuick. These are only a handful of appraisal related substidaries of CoreLogic. We have been forced to work through AMC's which are in turn being bought by Corelogic as well as the appraisal portals. If this is not a MONOPOLY I don't know what is. I have had 2 recent inquiries from "prospective" appraisers. Sadly, I recommended that they do not pursue this avenue for a future career as we are no longer independent appraisers.