You are on a major, big-volume lender’s do-not-use list. The big-volume lender is not calling anymore. You do not know why or how it happened, but you know it is starting to cost you real money.
Word spreads that you’ve landed on one client’s blacklist and soon their calls are petering out, too. All you want to know is why someone flagged you as “do-not-use.” You want to give your side of the story.
To make up for some of the lost business, you are trying to get on the approved list of a new client. Among the information you are asked to give is whether you have ever been removed or denied approval from another lender. Now you have essentially been blacklisted in advance.
Next, your E&O insurance is up for renewal. Your renewal application asks whether you know of any circumstances that could result in a claim against you. Do you?
What does it mean if you are blacklisted? How do you find out why you’ve been blacklisted? What are your rights? Click here to read Matt Barr's article The Appraisal Blacklist in the Communicator.
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