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MikePower

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Registered: 02/18/08
Posts: 1,961
Reply with quote  #1 

Stearns Company Sued by Former Employee Alleging TILA Violations

TriMavin and parent corporation Stearns are facing a lawsuit from a former chief appraiser who says the companies violated federal regulations and terminated her employment in response to her complaints.

In her complaint against the two companies, Katherine Scheri—chief appraiser at TriMavin from October 2011 to January 2013—alleges that Stearns developed a program to recruit mortgage brokers and loan officers by telling prospective recruits they could provide their own personal list of appraisers to be included on the approved panel for the appraisal process at TriMavin, an appraisal management company (AMC).

Regulations under the Truth in Lending Act (TILA) requires that employees, officers, and directors in the loan process not be directly involved in selecting, retaining, recommending, or otherwise influencing the choice of who will perform a valuation or who may be included from a panel of approved appraisers.

The complaint goes on to say that when she brought up her concerns to TriMavin president Eric Dellorusso, he responded that the accepted names were blended into the list of approved appraisers and that those names would be used on a rotating basis. Scheri alleges that Stearns’ appraisers were ranked in such a way that they were guaranteed to be used over other appraisers.

Scheri also says that, in a meeting with Dellorusso, she observed a stack of papers that Dellorusso admitted was a list of appraisers provided by incoming Stearns CEO Brian Hale to be used at TriMavin. Immediately thereafter, “Dellorusso told [Scheri] he should not have told her where this list of appraisers came from, and directed her not to disclose to anyone that she had seen the list or where it came from as it could cost him his job,” the complaint says.

Scheri additionally alleges that, when she refused to budge on the issue of Stearns’ production personnel manipulating appraisals, Dellorusso “told [Scheri] he had decided a man would be better equipped to handle [her] job as a man could deal with [Stearns’] production personnel better than a woman.”

Eventually, her disagreements with upper management over the alleged violations finally culminated in her firing, she says. Based on her experience and TriMavin’s alleged unlawful retaliation, Scheri has brought suit against the company, along with Stearns and 30 as yet unnamed defendants.

Representatives for Stearns did not immediately respond to a request for comment.

MikePower

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Registered: 02/18/08
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Reply with quote  #2 
This is all from my LinkedIn Groups..

Bobby

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Registered: 02/22/08
Posts: 3,817
Reply with quote  #3 
Let the implosions start! 


Like I said, we are still going to need a background check on you...

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DenverAppraiser

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Registered: 12/16/12
Posts: 185
Reply with quote  #4 
no wonder I never got any work from them.
Unbeliveable in this day and age anyone would even try to do that...
And if we even come close to violating USPAP we get hammered,
jus sayin
Bobby

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Registered: 02/22/08
Posts: 3,817
Reply with quote  #5 
That's right!  You need to be vetted by self-proclaimed representatives for appraisers to get any work.  And the qualifications for an AMC don't exist.  Basically they want to know you have a pulse and a checkbook.
Look at the application.
http://www.grec.state.ga.us/PDFS/AMC/AMCRegistration.pdf

But the smart ones probably would do the least amount of work in their own state.




They've done studies you know.  60% of the time, it works every time!

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ComparableForeclosure

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Registered: 01/28/09
Posts: 1,327
Reply with quote  #6 
I have heard about this AMC before and all I can think is..........

I am not an actor, but a real client. I lost 50lbs on TriMavin. It works!

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papaJsqueeze

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Registered: 04/11/13
Posts: 716
Reply with quote  #7 
I just wanted to make sure that folks don't confuse TriMavin with TriServ.  They are two different companies.  I have had nothing but positive experiences with TriServ.  I have never worked for TriMavin.

Just trying to give credit where credit is due.

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TP

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Registered: 09/06/08
Posts: 48
Reply with quote  #8 
What is the differance in this and "staff" appraisers and/or the "tier" system at Landsafe. NONE!!
 
JT

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Registered: 02/28/08
Posts: 1,710
Reply with quote  #9 
Like any AMC does not have a list of appraiser for certain reasons,,it may be fee based, number hitters,,etc...

Its just a sham...
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