Core Logic Valuation Svc

Ok, lets take these complaints piece by piece. First of all, Core Logic is not an appraisal company. It is what is known as an appraisal management company. Most AMC'S includeing Core Logic were created by and are owned by banks, check who else has an address at 5 Cherry Hill Dr., Danvers MA. The only purpose of an AMC is to take an appraisal order and give it to a local appraiser. Then take the appraisal and give it back to the bank. They do nothing else. Now this is why banks love them. You give the bank $500 to $800 for an appraisal. The bank sends the order to the AMC. The AMC keeps about 50%, $250 to $400 as a processing fee. The appraiser takes these reduced fee appraisals and does them at slow times. In other words, when they don't have anything else. Thats why the slow appraisal time. Now remember the bank owns the AMC. So in this case, you gave the bank money, they skimed of half, you were late to close and had to pay another months interest. This is whats nown as a win win for a bank. Gee this seems like it should be illigal or something....but....welcome to the mortgage industry. more

Too many mistakes made by their appraisers and never completed in a timely manner. more

One of the worst appraisal companies that I have worked with!!!! We were recently trying to buy a short sale home with all docs completed except for the appraisal from Core Logic. The company did not have anyone come out for almost a week! This was after multiple contacts with no response. Eventually when someone did come to the home, the appraisal was not submitted within the 24-hour time line as they promised. This was due to improper documentation and the the appraiser need to re-file the docs. Unfortunately, this also had a full day turn around. At this point, due the week and a half turn around, we missed our closing date because of an appraisal that takes 48 hours to complete!!!! This incurred not only the appraisal costs but a full 30days of interest since we pushed into a new month. Luckily we were able to get an extension from the selling bank otherwise the deal would have been dead due to Core Logic's lack of efficiency and sloppiness. In addition, I called customer support which was little help and much attitude. They must get a lot of calls like mine. No refund was giving (which i figured) and that's okay. What I would have appreciated was some understanding and empathy, rather than a crass, defensive attitude from a ""customer service"" rep. Moral of this story: DO NOT USE THIS COMPANY AT ALL. And if your Bank does, God help you, 'cause Core Logic definitely won't. more