Note: Readers can now find cases, laws and articles relating to appraiser independent contractor classification in the “AB 5 Center.” Appraisal firms and appraisal management companies utilizing independent contractor appraisers in California need to get familiar with Assembly Bill 5 Read more
Thank you to the Appraisal Institute and its team for publishing my book Risk Management for Real Estate Appraisers and Appraisal Firms. The book gives practical guidance about liability risk associated with appraisal work and the operation of appraisal firms. Read more
This is a common question that I’m asked by because many lawsuits against appraisers are filed years after the appraisal, sometimes 10 or more years later. The reason for this is that the plaintiff suing an appraiser may not have Read more
Today, the California Court of Appeal, Third Appellate District certified for publication its recent decision in a case entitled Tindell v. Murphy. The case involved mortgage borrowers who sued a real estate appraiser blaming the appraiser for a purchase they made in Read more
Classifying “staff appraisers” as independent contractors, rather than as employees, is a very common business practice among real estate appraisal firms. And, of course, appraisal management companies (AMCs) use a business model that depends entirely on panels of independent contractor Read more
Updated 12/29/15 Here’s a summary of activity in the last several weeks: (1) Impac/Llano lost a case against an appraiser in New Jersey, (2) Savant’s legal counsel is seeking to withdraw from a case in Florida just weeks before trial Read more
Impac – Savant – Llano Lose in Colorado. Earlier this morning, a state court judge in Colorado granted an appraiser’s motion to dismiss a Llano Financing lawsuit alleging negligence claims. Impac Funding – a subsidiary of Impact Mortgage and corporate affiliate of Read more
Last month, I wrote that Impac/Savant/First Mutual/Llano looked like they were starting to have problems with the attorneys representing them in their mass litigation against appraisers. New signs of such division are appearing. Some of the attorneys and law firms filing Read more
Impac Funding’s so-called subservicer Llano Financing Group lost another case in Florida on November 6, 2015. This most recent loss came in Santa Rosa County, FL. The losing attorney and law firm for Llano were Eric Krebs and McCalla Raymer LLC. Mr. Krebs and Read more
Before I cover a few positive legal developments with regard to the mass litigation against appraisers being fueled by loans held or serviced Impac Funding (a subsidiary of Impac Mortgage Holdings), I think it is important to reflect on the fact Read more