I am one of probably many appraisers that have been "duped" by American Home Mortgage ()AHM) and Homegate Settlement Services and want to know if anyone else can give me some pointers on dealing with this issue.

 

I did two appraisals for these guys 1 in June and 1 in July.  My reports were approved and the loans were funded.  I received a check in the mail for $900 from Homegate Settlement Services for the two reports.  I deposit the check and it is returned unpaid. My bank account take a hit for $900. plus bank charges.

 

This money does not belong to AHM.  It is money that was collected from the borrower from loan proceeds to be paid to the vendor (me) and should not be co mingled with AHM funds and therefore the check should never have been returned.

 

I am having a lot of trouble getting in touch with anyine at Homegate regarding this issue.

 

I am certain that I am not the only Appraiser having taken it in the a$$ by these guys.  How is everyine else dealing with getting paid?  

 

To add insult to injury, ApprisalPort wants there fee for sending me these orders!!!

 

$^%)*#&^%&)($%*&)*)(*_*  (I'm unhappy) 

 
Posted by Maryanne McCuin on 08/13/2007 05:17 PM   Comments (7)  
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7 Comments on American Home Mortgage/Homegate Settlement Services

AUG
27
2007

 

Maryanne,

You are definitely not alone. Everybody doing business with American Home Mortgage/Homegate Settlement Services has been stiffed. As you correctly noted, the monies collected for appraisal fees were improperly redirected and not used for the intended purpose. If I wrote a check, knowing in advance that the checkwould not be honored (bounce), I would be subject to fraud charges and held liable.

I am out $3,000 to date and it could go higher. All the deals closed and were funded. Let me know if you discover any means of recourse.

In the mean time I'm COD only going forward.

Mark Hoffman

Mark@MarkHoffmanAppraisals.com
3:22pm • #1
FEB
13
2008
Homegate stuck us for $16,660.00 for appraisal work. They are part of American Home Mortgage. Whats worse there is a scavenger that picked up the company for probably nothing and will make a lot of money out of it. Spend it in hell.
Appraisal Associates of the Treasure Coast
2:59pm • #2

I did file a claim against them in the bankruptcy court. I feel kind of petty complaining about my loss of $900 when I consider the loss of $16,660!!! 

 

I have no idea if I will collect anything from the court or not.  Time will tell.   

Maryanne McCuin
3:22pm • #3
FEB
19
2008
AA, How on earth could you let them accumulate $16,000 in unpaid appraisal fees?  Maryanne, you should not feel petty. You did the work and deserve to be paid!
8:36pm • #4
FEB
21
2008
 WELL, AMERICAN HOME WENT UNDER AND I WAS OWED ABOUT $3,000.  I MENTALLY WROTE IT OFF (BURNING UP INSIDE) AND I STILL GET PISSED WHEN I THINK ABOUT IT.  THAT IS A LOT OF MONEY FOR A SMALL BUSINESSPERSON LIKE MYSELF TO LET GO OF.  THE LOAN OFFICER THAT I DID BUSINESS WITH SAID "OH WELL, THEY OWED ME MORE THAN THAT"  WHAT A POOR, INCONSIDERATE ANSWER.  HE HAS NOT BEEN ABLE TO PUT ME IN TOUCH WITH ANYONE TO HELP ME AND I TOO HAVE BEEN UNSUCCESSFUL IN REACHING ANYONE TO SEE WHAT PROCEDURES TO FOLLOW TO TRY TO RECOVER THIS...EEEERRRR
8:34pm • #5
DEC
07
2010

 

Please contact Alex Pace at 251 433-8100 he is up to date on whats happening with the AHM settlement are should be able to help you. I too am waiting for my money that we got RIPPED of from.

AHM broke FED law by NOT giving anyone notice before loosing there jobs, by all rights we all should be getting 90 day pay for the braking of this law.

 

Hope this helps you out......

Scott

 

 

 
Scott
2:14pm • #6
DEC
08
2010

Scott, I called Alex Pace, he is not the contact person for outside vendors.  He is only handling employee claims, thanx anyway!!
Patrice M Estess
7:11pm • #7


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Maryanne McCuin

Phoenix, AZ

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M & M Appraisal Services

Address: 4216 W. Carol Avenue, Phoenix, AZ, 85251

Office Phone: (602) 885-7581

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