The San Diego Union Tribune reports on the latest development with the now-defunct appraisal management company, AppraiserLoft.
A Phoenix judge recently concluded the AMC failed to pay appraisers in Arizona at least 171 times within the past 18 months.
In a June 6 order, administrative law judge Diane Mihalsky, recommended that the Arizona Board of Appraisal fine AppraiserLoft $5,000 for each of the 171 violations, totaling $850,000, and revoke the company's license as an appraisal management company.
AppraiserLoft, however, shut its doors in October 2011. Owners Aman and Harpreet Makkar missed the hearing.