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 2005 at the peak of the real estate bubble. The trial Read more…
Mortgage borrowers in default deal with “robo-signed” foreclosure documents. Residential lending appraisers may soon have to deal with “robo-complaints” to state appraiser boards filed by lenders to comply with Dodd-Frank. One of the end results may be more appraisers shy about value. We at LIA and READI anticipate and are Read more…
I attended the recent conference of the Association of Appraiser Regulatory Officials (AARO) in New Orleans to participate on a panel discussing the need for consistency in appraiser discipline across the states. AARO’s membership consists of the board members, appraisers, administrators and attorneys who work for the various boards and Read more…
We’ve observed a new pattern by one national lender. “Risk Management” at this lender has been submitting numerous complaints to state boards based only on single review appraisals which merely indicate “potential violations” of USPAP. I think the lender wants to show that it’s “getting tough” on appraisers. In general, Read more…