Sunday, January 17, 2010

Larry Holzer - New Appraisal Managment Company

Back in May, 2009, Appraiser Active posted about the need to regulate Appraisal Management Companies. The failure to regulate Appraisal Management Companies provides way too many opportunities for abuse of the system, scant protection for property owners, borrowers and lenders, and limited means to assure wrongdoers meet justice. The post included a link to an article in by Susan Taylor Martin, Senior Correspondent for the St. Petersburg Times.

At that time, Larry Holzer was operating an Appraisal Management Company; Global Appraisal Solutions. (Note: link is to the wayback machine). Through the grapevine, we've heard that Global Appraisal Solutions is no longer operating. We've also heard of a few independent contractor appraisers stiffed by his firm as it took the dive, similar to what happened with Security One Valuation Services, LLC.

There were some warning signs. Appraisers on the Global Appraisal Solutions panel received this email:

From: []

Sent: Tuesday, October 06, 2009 12:50 PM

Subject: Important Update: Global Appraisal Solutions

October 6, 2009
Dear Appraisers,

Good afternoon.

Approximately five days ago, I wrote to advise you that a dispute has arisen between Global Appraisal Solutions and one of the lenders that the company serves.

The dispute involves various areas of alleged lender misconduct, including, but not limited to a large outstanding balance for completed appraisals as well as lender practices that Global alleges violate banking regulations.

It is important that during this time, we remind you that any outstanding appraisal that was requested by you from Global Appraisal Solutions that you do the following things to help us to quickly resolve the dispute:

1. Complete the appraisals with professionalism and speed.
2. Ship the appraisals and the conditions ONLY to your client: Global Appraisal Solutions
2. Report by email to Global Appraisal Solutions any attempt by the lender to seek the appraisals or conditions from you directly, or any other thing that the lender may do or attempt to do, that would otherwise compel you to violate USPAP, HVCC, or state law.

Global is communicating with the appropriate parties and we do anticipate settling this matter in the coming days.

Thank you.


Larry Holzer
President, Global Appraisal Solutions, LLC.

If having his State Certified Credential revoked by the Florida Real Estate Appraisal Board will not keep him from opening and operating an Appraisal Management Company, why should folding an Appraisal Management Company keep him from opening another?


From the site (I'm tempted to tag this 'sarcasm on').

Appraisal Mediation Solutions is one of the most trusted providers of real estate valuations in the Nation. Our philosophy is to provide fast and accurate real estate valuations to assist our clients in making informed real estate decisions. Our reports are prepared with the precision that the industry demands with all major property types included.
The filing with the Florida Division of Corporations indicates the principal office of the Limited Liability Company is:

140 Island Way
Clearwater, FL 33767

For those lenders, mortgage bankers, mortgage brokers and appraisers interested in doing business with Appraisal Mediation Solutions, LLC, you might want to research the palatial principal office. Just in case you are interested, Appraiser Active has done this already. Take a LOOK at the business at that address.

If you're an appraiser, and interested, he's also hiring. Let me know if the link goes dead. I've got a pdf of the page to post if necessary.

More than likely, there are thousands of businesses operating with a UPS box as their principal office, but I'm just sayin'.......

It looks like fly-by-night Appraisal Management Companies will be all the rage in the 2010's. Be careful of the companies you work with.

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