Nationwide Property and Appraisal Services

Complaint: [redacted] I am rejecting this response because: They still haven't answered any of the question In addition, I had two general certify appraiser look at the same report and both agreed that the income value should be considered Regards, [redacted] ***

We are not "nicely" trying to insult anyoneThe appraiser explained in the addenda, on page of 49, ” Comparable #is a 4-Unit property smaller than the subject but comparable in age and conditionIt is located in Bridgeport where the median market value is approximately 25% higher than the lower west side with an adjustment made” 25% of comparable #1’s sales price would be a $100,adjustmentThis is an urban area where as we all know, neighborhoods can easily change in a few short months.The appraiser then states in the addenda on page of “Due to the unique sizeof the subject property it was necessary to go over months for comparables and over mileDue to the large size and unavailability of comparables closer in size to the subject, adjustments on Comparables exceeded maximum allowances

Your complaint was based on "poor data analysis". Please re-read. In addition, The appraiser hired by Nationwide is State Certified and fully competent. You asked for follow up to the appraisal and it was given the proper way. We also handled any issue you had other than possibly the value you wanted. We would like to point out at this time that the law prohibits "undue influence" against appraisers. We suggest going forward you provide factual evidence rather than "here say" to validate your compliant. We will be closing this matter.

Complaint: [redacted]
I am rejecting this response because:
They're just insulting me in a nicely written way without answering the main question.  In regard to her comment, I wrote specifically in my dispute that the comp I mentioned should not have been adjusted more than 25% based on location and wanted to see his reasoning.  The previous appraisal from 7 months ago had the same property for 30% higher.  I just wanted his reasoning on why such a high amount was deducted despite being .9 miles away, previous higher value of 30%, and why wouldn't he just chose another comp if he's going to deduct over 25%.  His response was 'this comp is in the report'. In addition, they still haven't answered the most important question.  The average of the appraiser's comp is over $380k. His own income value is $473k.  The property was applied to the bank as 'investment - non-owner occupied'.  The property is zoned commercial and not residential.  How is income value not in consideration at all?  Even without that, the average of his comps is over $380k.  I just want to see how he is getting $360k based on those two facts.  Thanks. 
Regards,
[redacted]

Complaint: [redacted]I am rejecting this response because:My complaint is based on actual MLS data not "here-say". I've done my research. The appraiser you hired did not and that is why I am so unsatisfied. How can you claim that you provided a quality service by hiring someone who didn't do his job? I will not accept any response to this complaint other than a refund. Regards,[redacted]

In regards to [redacted]’s complaint we would like to point out the facts which is what is needed to dispute any appraisal according to the Dodd Frank Act and the Appraisal Independence Requirements. In addition while [redacted] points out that he was previously a Real Estate agent we would respectfully...

note that profession requires about a weeks’ worth of classroom participation to obtain a license vs. the numerous years and apprentice hours it takes to become a Certified Appraiser. The appraiser in question lives 8 miles from the property and knows the area very well.   The appraiser addressed all [redacted]’s concerns 1st on p17 and then on p 18 of the appraisal report, as there were two attempts by [redacted] to have appraiser reconsider this report.  Additionally the time it takes to perform an accurate appraisal varies and the law states that no undue pressure to the appraiser is allowed when they are completing the report. In this particular case there were also limited 4 unit sales, which the appraiser discusses in the report and also keep in mind that this area was hit twice with huge snow storms from when he inspected property and delivered report.  The reconsideration requests by [redacted] were all recorded in the file and the appraiser addressed everything [redacted] asked. Ironically one of the comps [redacted] suggested was in the report (he didn’t know that by reading report?)  and two of the others he suggested go against appraisal practices.  The timeframe has nothing to do with the quality of the report and as [redacted] states Nationwide was responsive in following up on his concerns. The appraiser addresses the zoning on p 15 of the report and even has a certificate on p 48.  Furthermore he supports his value with 5 sales and 2 listings.  An appraiser only has to use 3 sales to support value.In conclusion, as addressed in the aforementioned paragraphs, the appraiser is experienced and very knowledgeable in this area and addressed all concerns. The fact that [redacted] is not happy with the value does not warrant a complaint.

Complaint: [redacted]
I am rejecting this response because:
They still haven't answered any of the question.  In addition, I had two general certify appraiser look at the same report and both agreed that the income value should be considered. 
Regards,
[redacted]

We are not "nicely" trying to insult anyone. The appraiser explained in the addenda, on page 15 of 49, ” Comparable #1 is a 4-Unit property smaller than the subject but comparable in age and condition. It is located in Bridgeport where the median market value is approximately 25% higher than the lower west side with an adjustment made”.  25% of comparable #1’s sales price would be a $100,000 adjustment. This is an urban area where as we all know, neighborhoods can easily change in a few short months.The appraiser then states in the addenda on page 15 of 49 “Due to the unique sizeof the subject property it was necessary to go over 6 months for comparables and over 1 mile. Due to the large size and unavailability of comparables closer in size to the subject, adjustments on Comparables exceeded maximum allowances.

In response to this complaint in regards to Nationwide Property & Appraisal Services, LLC. Nationwide follows all State and Federal guidelines in its selection of appraisers across the Country. Those laws can be found on the State and Federal websites. In addition we have followed the same laws...

in respect to the appraisal appeal submitted. Thank you.

Although the crack appraiser assigned by Nationwide for my property is challenged by spelling and grammar, he has an aptitude for math. Except for the measuring and multiplying part.

He missed measuring a bedroom. But in all fairness the bedroom door was closed which would throw anyone off. He didn’t correctly multiply the rent probably because he learned multiplication from defective flash cards.

The appraiser was creative with the numbers. He determined there were, not one, but three different gross rent multipliers for my investment property. It’s sort of like assigning someone three different ages. To be fair, the appraiser was very forthcoming in admitting these errors were NOT his fault and entirely due to the software and the layout of the building.

Normally you would use recent sales of similar properties within 3 or 4 blocks to value property. But, in a stroke of pure genius, he used last year’s sales which were over 10 blocks away. For the sake of consistency, he also based current rent on what was charged more than a year ago.

Although you pay for and use the appraisal, Nationwide will helpful remind you that you are not the client. However, they do offer a quality assurance program that includes cashing your check. In addition, they went the extra mile by offering to have a call and clarify and explain the appraisal. But they didn’t actually intend to have a call, they just offered.

Review: I receive a call from a collection agency in ** ([redacted]). This was regarding a mortgage application that I filed with [redacted] Nationwide did the 'rent and income' portion of the appraisal and went ahead and completed the appraisal charging $225.00 on the card without notifying or getting approval from the mortgage processor approval. The file number was [redacted] The mortgage company said they never authorize for rent and income report from the Nationwide Property and appraisal services located in NJ. Since it was a credit card transaction I disputed with the credit card company and they agreed the charge was not valid so they refunded the $225 amount. The Nationwide never reach out to me regarding this and they just sent it to the collection. I think it was an unethical practice from the company. I think they should have forwarded the authorized request to the credit card company when they reached out to them. I was really surprised to receive a call from the collection agency.Desired Settlement: Billing adjustment and removal from collection.

Business

Response:

[redacted] applied for a loan as he described with [redacted]. Please note that they are a separate company from Nationwide Property & Appraisal Services, LLC. [redacted] submitted an appraisal order through our appraisal ordering software portal in January 2014 for a conventional loan for [redacted] When the order was submitted it was paid for through an encrypted secure delivery system with [redacted]s credit card. On January 21st the additional order for the rent and income schedule was submitted to Nationwide once again by [redacted] and despite what [redacted] claims, it was paid for using the same encrypted method on our appraisal ordering system by [redacted] Nationwide would never have been privies to [redacted]s credit card information and would not be able to charge him for the order in question unless it was submitted as described above.

What's interesting is that after doing research on this complaint we have found out that [redacted]s loan was denied by this lender on February 21st 2014. While it is unfortunate that [redacted] did not receive the loan he applied for Nationwide still provided the appraisal reports that were ordered to the Lender for [redacted]s loan. We would be happy to provide you both reports completed by our company if you would like to see them. [redacted] would also have been provided a copy of both reports from [redacted] or can certainly ask for them.

We simply want to be paid for services rendered.

Thank you,

Consumer

Response:

Review: [redacted]

I am rejecting this response because:

Talked to the mortgage company and found out that they never authorized $225 transactions. I specifically told them that this report should not be ordered until loan is finalized and they agreed. After talking to them it is found that this was processed without approval. If it was approve then we need to see who authorized and actual authorization and order not report. Thank you

Regards,

Business

Response:

You state that you told the lender not to proceed with the appraisal report until the loan was finalized. The rent and income report gives the lender the information they need to finalize the loan, this is why they would have ordered it. [redacted] from [redacted] put credit card information through the system for us to proceed with order. You have disputed a charge with the credit card company and received your money back. We provided the information to the lender that was nessassary to see if your loan would be approved and we have not been compensated. We will continue with collection efforts accordingly. Thank you.

Consumer

Response:

Review: [redacted]

I am rejecting this response because: I need to see actual proof that the rent and income report was ordered. I understand it was electonie but there must be some sort of proof that this report was ordered. Please provide autorization document so that I can go back to lender and show them. Thanks

Regards,

Review: Hi I brought a house October 31, 2014 which was appraised by a [redacted] October 9 2014 *8 months after purchased major structural damage and black moles in the house. I brought this house under FHA guidelines. I didn't know they let people buy homes that are hazardous to your health . The basement had a bowing bugling wall and he appraised the house at 119.,000 dollars this is unreal. The house no working smoke detectors .Desired Settlement: I want to be compensated so they should call me and resolved this or he will be in court. I can.t afford to pay $10,000 for the repairs of the home . I am filing bankruptcies for this problem. I have lost a lot of money because of this issue.

Business

Response:

Tell us why Please be advised the appraiser can only report what he/she physicallysees, hears, smells at the time of inspection. If there is mold and it is not visible to the appraiser, then theappraiser cannot assume that there is mold. If there is structural damage to the home, although the appraiser cannotphysically see any signs of possible damage, then the appraiser makes theextraordinary assumption that there is no damage. The homeowner also has the right, at the timeof the purchase, for a home inspection. Did the homeowner exercise this right? No documentation was provided to the appraiser that there were any signsof mold or structural damage from a licensed engineer or a licensed homeinspector. Also, in the contract provided to the appraiser there was nodisclosure of structural damage or mold present. What this homeowner is referring to isoutside of the appraisers scope of work. These issues are identified by a licensed home inspector, not anappraiser, unless the appraiser physically sees, hears or smells something. Lastly,a year has gone by, who knows what might have happened within that time frame?We respectfully reject the claims made against our company.here...

Review: I have concerns about the integrity of the appraisal we recieved. I have done my research, I consulted with multiple realtors - one of which was present during the appraisal to provide neighborhood information - and I feel very confident that this number is not accurate. It's so off base that I almost wonder if he mixed up our house with another house he was appraising. I have lived in this neighborhood for 30 years, I know it very well; the comps he used are completely inequitable. For an appraiser to say that a house being located on a highway or main road does not get factored in to the value is puzzling at best.

The issue isn't that I am unhappy with the number; it is that the number is wholly inaccurate. In this neighborhood, location is a major factor in price, and we don't have a lot of inventory turnover to use as true comps. But that shouldn't mean that any old house on a highway nearby will do.

I put in a formal "Reconsideation Request" to the company and the same appraiser responded saying that a house's location on a highway does not affect its value and he did not change the appraisal. I then wrote to a [redacted] Supervisor asking for a refund. I have not heard back from the company since then.Desired Settlement: I am stunned at how drastically one person's irresponsible work has affected my family's financial affairs. The point of an appraisal is to assess how much we could sell our house for if it was put on the market today - the actual value to the lender. The report we received could not have been farther from a realistic assessment of our home's value. And it affected the entire mortgage refinancing process. The appraisal itself cost us $400. I requested a full refund for this insufficient appraisal so that my family and I can start this process over again with a new lender and a new appraisal company. $400 is too much to pay for someone else's irresponsibility. The realtor who we solicited to be present for the appraisal has encouraged me to file an complaint with Revdex.com. There is outrage in my neighborhood over this company's casual attitude towards the value of the homes in my community.

Business

Response:

Good morning,

Please be advised that this appraisal report was completed by a Certified Appraiser and not a realtor. Realtors do not have the same qualifications as appraisers. In addition the report was completed in accordance with [redacted] and in accordance with all State and Federal laws. Lastly as it states in the complaint we did in fact go back to the appraiser with the Reconsideration request as was also done in accordance with all State and Federal laws and the appraiser found no merit to the request.

The services paid for were rendered and completed.

Thank you.

Consumer

Response:

Review: [redacted]

I am rejecting this response because:

The response does not address the issues I raised with regards to the accuracy of the appraisal.

I am not insinuating that a realtor has the same credentials

as an appraiser, but the realtor we had available knows the specific

neighborhood inside and out. She knows what houses sell for in that area, and why

they sell. She was a resource who provided information to help the appraisal be

accurate.

I still do not understand why an appraiser would consider a

smaller house on a highway as a valid comparable. Especially when, two blocks

from my house, a much more relevant comp sold within the past 4 weeks. The

house on [redacted] is bigger, but it also sold for more than my house is worth.

An appraiser should then adjust for size, because that house is in the exact

same part of the neighborhood.

I do not feel that the services I paid for were rendered.

The appraisal I received was inaccurate and irresponsible. I paid for an

appraiser to assess the true value of my home considering all factors. The

appraisal that was provided was not only significantly below the true market

value, but also far below the tax assessed value just a few months earlier. This

should have been a red flag to the company.

Regards,

Business

Response:

Realtor’s sell homes they do not appraise homes.

The appraiser used the proper comparables in the report. Additional information was

submitted to the appraiser on the other home you sent to us and the appraiser

did not feel it was a usable comparable to include in the appraisal report or

they would have done so. That could be for numerous reasons too lengthy to

explain. The services you paid for were

rendered. Also just a note. In the last few years there was a significant drop

in home prices. Tax assessors always want to show your home to be worth more.

That’s how they get more taxes. I would strongly suggest that you use this

credible report to challenge your tax assessment and lower your taxes

Review: Hello- November 22, 2013, I paid Nationwide Property & Appraisal Services in [redacted] NJ $450 to have an appraiser to write an appraisal for my house at [redacted], [redacted] for a [redacted] refinance. I was in the process of moving so, there was boxes and clutter throughout. [redacted] (the appraiser that showed up) told me that was "OK and he could do the appraisal". I asked him again, is everything OK? "Oh yes"; he would get the report to me "next week". Three days later I hear from [redacted] that [redacted] told them he could not do the appraisal because of the. I NEVER RECEIVED ANY APPRAISAL REPORT. He did not give me a card and I had email Nationwide directly to make contact. Their solution is to refund only $175 of the appraisal fee. I am a disabled veteran and tried to talk to [redacted], VP of Finance and she said that that was the way it was over and over. I asked for a copy of the appraisal and she said I do not get one. I find this treatment demeaning and condescending of veterans. I asked to speak and then spoke to Ms. [redacted] "supervisor" and received the same double talk. In summary, I paid $450 for an appraisal the was not completed or even presented with a $175 refund. WHAT A DEAL!Desired Settlement: Refund the balance for not providing COMPLETE services paid for.That is defrauding the customer.

Business

Response:

We sincerely regret that Mr. [redacted] is upset over this situation. We have tried to speak with him about it. Unfortunately he did not want to listen to what we had to say and was unruly with our staff. Eileen from our office also left him a follow up message yesterday after speaking with him with some news. To sum up the “issue” we have written it out

below.

An interior appraisal report was ordered for $450 by Mr. [redacted] lender. An inspection of his property was attempted during which the appraiser was unable to view all of the real property due to the boxes and clutter in the property. We informed the lender of the situation and were instructed to place the order on hold and advised that Mr. [redacted] would need to clean the property so that the appraiser could effectively view the structure and complete the proper appraisal report. Since the appraiser could not complete the report the first time do to the clutter described above we informed that an inspection/trip fee of $100 would be incurred. This is normal procedure for this type of issue and also less than

the typical trip fee of $125.

On 1/6/14 Mr. [redacted] lender placed a new order for an exterior only property inspection (because of the clutter inside) and asked us to cancel the interior order which has already incurred the $100 inspection fee. We were then to transfer the rest of the payment made to the new order and refund any over charge.

Final outcome: Original charge was $450 - $100 inspection fee = $350 payment transferred to the new order. The fee for the new exterior only order was $175. $350 - $175 = $175 which was debited back to Mr. [redacted] card on 1/6/14 transaction [redacted] to card [redacted] Refund---$175.00

The new exterior only report is due to us this week and once received will be sent to the lender who will provide it to Mr. [redacted]. The final outcome will be that Mr. [redacted] will receive the only report that could be completed at this time due to the clutter and we hope that his lender is able to provide him with whatever financing he needs.

We would expect Mr. [redacted] to retract this complaint after receiving the above information.

Review: Appraisal provided by SF Appraisal Group, hired by Nationwide Property and Appraisal Services, was based on poor and inadequate data analysis. When appealed, SF Appraisal Group conducted a revision but manipulated the data in a biased manner so that valuation of the property remained unchanged. After speaking with the appraiser, it seems that this type of incompetence and unethical data manipulation is common practice. The appraiser admitted that appraisal appeals are common for his reports and that when revised, the valuation typically doesn't change. I have filed a Revdex.com complaint against SF Appraisal Group as well but as a third party appraisal management company, Nationwide Property and Appraisal Services should be doing a better job evaluating the competency of the appraisers it hires.Desired Settlement: I believe I deserve a full refund for the total lack of quality, competence, and due-diligence provided by the services of Nationwide Property and Appraisal Services. The product and services I paid for and received were not of professional quality.

Business

Response:

In response to this complaint in regards to Nationwide Property & Appraisal Services, LLC. Nationwide follows all State and Federal guidelines in its selection of appraisers across the Country. Those laws can be found on the State and Federal websites. In addition we have followed the same laws in respect to the appraisal appeal submitted. Thank you.

Consumer

Response:

Review: [redacted]I am rejecting this response because:My complaint has nothing to do with the legality of the actions on behalf of Nationwide but rather the lack of quality service provided by Nationwide. Regards,[redacted]

Business

Response:

Your complaint was based on "poor data analysis". Please re-read. In addition, The appraiser hired by Nationwide is State Certified and fully competent. You asked for follow up to the appraisal and it was given the proper way. We also handled any issue you had other than possibly the value you wanted. We would like to point out at this time that the law prohibits "undue influence" against appraisers. We suggest going forward you provide factual evidence rather than "here say" to validate your compliant. We will be closing this matter.

Consumer

Response:

Review: [redacted]I am rejecting this response because:My complaint is based on actual MLS data not "here-say". I've done my research. The appraiser you hired did not and that is why I am so unsatisfied. How can you claim that you provided a quality service by hiring someone who didn't do his job? I will not accept any response to this complaint other than a refund. Regards,[redacted]

Review: For background, I was previously a real estate agent.

Ordered appraisal for a refinance for 4 unit investment property. It takes the appraiser almost two weeks to get the appraisal. The problem is with the appraisal itself.

-appraiser uses comps and subtract over 25% value from comps despite being under a mile away. I just had a previous appraisal done 7 months prior and the exact same comp was over 30% higher.

-errors in the report such as bedroom count, owner-occupied when he clearly knew it was investment

-The appraisal came back at $360. The interesting part is that he valued it based on income at $473k and then refuses to use any of that value claiming it is not indicative of the area. My building is actually zoned a commercial property. How is income value not relevant when city zoning is commercial? Even on just his comps, the average was over $380k. How did he come up with $360?

I do understand that Nationwide was responsive in forwarding my dispute to the appraiser but the appraiser did not answer any of the above questions directly. He responded with very generic answer such as 'xxxx street is comp 1'.

If this appraiser can find me another income valued property worth $473k for sale at $360k in the same area and same condition, I guarantee you I will purchase it without question.Desired Settlement: I would like another appraiser to do an appraisal on the same property. Someone with knowledge of the area and more experience.

Business

Response:

In regards to [redacted]’s complaint we would like to point out the facts which is what is needed to dispute any appraisal according to the Dodd Frank Act and the Appraisal Independence Requirements. In addition while [redacted] points out that he was previously a Real Estate agent we would respectfully note that profession requires about a weeks’ worth of classroom participation to obtain a license vs. the numerous years and apprentice hours it takes to become a Certified Appraiser. The appraiser in question lives 8 miles from the property and knows the area very well. The appraiser addressed all [redacted]’s concerns 1st on p17 and then on p 18 of the appraisal report, as there were two attempts by [redacted] to have appraiser reconsider this report. Additionally the time it takes to perform an accurate appraisal varies and the law states that no undue pressure to the appraiser is allowed when they are completing the report. In this particular case there were also limited 4 unit sales, which the appraiser discusses in the report and also keep in mind that this area was hit twice with huge snow storms from when he inspected property and delivered report. The reconsideration requests by [redacted] were all recorded in the file and the appraiser addressed everything [redacted] asked. Ironically one of the comps [redacted] suggested was in the report (he didn’t know that by reading report?) and two of the others he suggested go against appraisal practices. The timeframe has nothing to do with the quality of the report and as [redacted] states Nationwide was responsive in following up on his concerns. The appraiser addresses the zoning on p 15 of the report and even has a certificate on p 48. Furthermore he supports his value with 5 sales and 2 listings. An appraiser only has to use 3 sales to support value.In conclusion, as addressed in the aforementioned paragraphs, the appraiser is experienced and very knowledgeable in this area and addressed all concerns. The fact that [redacted] is not happy with the value does not warrant a complaint.

Consumer

Response:

Review: [redacted]

I am rejecting this response because:

They're just insulting me in a nicely written way without answering the main question. In regard to her comment, I wrote specifically in my dispute that the comp I mentioned should not have been adjusted more than 25% based on location and wanted to see his reasoning. The previous appraisal from 7 months ago had the same property for 30% higher. I just wanted his reasoning on why such a high amount was deducted despite being .9 miles away, previous higher value of 30%, and why wouldn't he just chose another comp if he's going to deduct over 25%. His response was 'this comp is in the report'. In addition, they still haven't answered the most important question. The average of the appraiser's comp is over $380k. His own income value is $473k. The property was applied to the bank as 'investment - non-owner occupied'. The property is zoned commercial and not residential. How is income value not in consideration at all? Even without that, the average of his comps is over $380k. I just want to see how he is getting $360k based on those two facts. Thanks.

Regards,

Business

Response:

We are not "nicely" trying to insult anyone. The appraiser explained in the addenda, on page 15 of 49, ” Comparable #1 is a 4-Unit property smaller than the subject but comparable in age and condition. It is located in Bridgeport where the median market value is approximately 25% higher than the lower west side with an adjustment made”. 25% of comparable #1’s sales price would be a $100,000 adjustment. This is an urban area where as we all know, neighborhoods can easily change in a few short months.The appraiser then states in the addenda on page 15 of 49 “Due to the unique sizeof the subject property it was necessary to go over 6 months for comparables and over 1 mile. Due to the large size and unavailability of comparables closer in size to the subject, adjustments on Comparables exceeded maximum allowances.

Consumer

Response:

Review: [redacted]

I am rejecting this response because:

They still haven't answered any of the question. In addition, I had two general certify appraiser look at the same report and both agreed that the income value should be considered.

Regards,

Nationwide Property and Appraisal Services LLC is not a very good organization to work with. While they immediately collected my payment for services, I did not hear from them for 5 days. At that time, I called them to find out when the appraisal would be taking place. They did call me back and let me know they were working on my appraisal assignment. Three days later, we received an email asking for possible dates/times. We provided four. When the appraiser finally called us (after we tried contacting him over three days' time), he was not available at any of the times proposed, we had to wait for the next week. The appraisal was done incorrectly, so we had to wait for corrections. Our loan closing was delayed for a month due to their poor handling of the assignment and the errors that followed. An email explaining our dissatisfaction with their service and request for a refund was sent. They considered our request but noted that errors are normal, so they did not think that was a problem. Wow! They did not think that 26 days after accepting payment for services was a long time to wait for the finished product. Again, wow. And, they let me know that they did not make a profit on my transaction like that should justify their decision not to issue any refund. Have I said, "Wow?" I would not utilize this organization again.