Quicken Home Loans - TSI Appraisal Services Termination of TSI Appraisal Services Appraiser Agreement ripoff Livonia Michigan

I am an appraiser who has done work for TSI (Quicken Home Loans) for many years. We are an extremely reputable appraisal firm and do work for all the most reputable local and national lenders. I have noticed since we started doing work for them that their estimates of market value were extremely high.

I had a conversation with one borrower who stated the estimate of value came from the salesman (loan officer). Our job is to determine the true market value regardless of the estimated value on the request. We constantly recieve Requests for Reconsideration of Value. Our initial value is firm and upless they can supply sales data that we did not have our value will not change - I can not think of a single time that we revised our value. It is unfortunate for those borrowers who can not refinance based on the true market value. I think the salesmen need to be trained to be more realistic with the value estimates.

Today we recieved a letter from TSI "Termination of TSI Appraisal Services Appraiser Agreement". It went on to outline the termination of our agreement and ended with "Thank you and good luck with your future endeavors".

I am not sure if they are terminating us because we are too conservative or if they are going out of business.

Bill
Marietta, Georgia
U.S.A.