Non-Payment of Appraisal Fees by
Mortgage Companies On The Rise!
IL Office of Banks & Real Estate Assists Appraisers

Question: I have not been paid for the appraisal I did, whom can I contact for help?

Answer: If your client is an Illinois licensed lender or mortgage broker, the OBRE Consumer Services Division may be able to help.

To file an inquiry/complaint against any individual or entity regulated by the IL Office of Banks and Real Estate, the appraiser must contact the Consumer Services Division in writing. A Consumer Inquiry Form can be located by clicking on the appropriate Consumer Inquiry Form .

All inquiries that are received by the Consumer Services Division will be promptly reviewed, investigated, and assigned to the appropriate Administrator. Complainants will receive periodic updates on the status of the inquiry beginning with a letter acknowledging and confirming the receipt of the complaint and ending with notification of final action.

Along with your signed Mortgage Banking Inquiry Form.pdf letter of complaint, send the OBRE Consumer Services photocopies of the following: 

• Original Appraisal Report
• Order to do the appraisal work, and 
• Past Due Invoice.   

A separate letter for each company involved is required.

Office of Banks & Real Estate
Consumer Services Division
310 South Michigan Avenue, Suite 2130
Chicago, Illinois 60604
Fax Number: (312) 793-3977

The Illinois Department of Financial and Professional Regulation - Division of Banks and Real Estate, fined Choice One Mortgage, Inc., an Illinois residential mortgage licensee, $5000.00 for ordering appraisals from an Illinois licensed appraiser with a minimum value request. Appraisal orders would be cancelled, not paid for, or otherwise negatively treated when the appraiser did not provide the accepted minimum value.  http://www.obre.state.il.us/RESFIN/Discipline/2004BRF-77-Order5067.pdf   ICAP urges appraisers to file a complaint with the Division of Banks and Real Estate at
(877) 793-3470.

Appraisers!. . . .Do you have a complaint against a lender, mortgage 
broker, realty agent or appraiser?   

Go directly to the Appraiser Complaint Page or click on the appropriate lending entity:

• Federally regulated financial institution 
• Mortgage broker, Non-bank mortgage lender, Realty agent
• MBA Mortgage Fraud Reporting