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Huggins, etc., vs. FNC Oral Argument Recording

Discussion in 'General Appraisal Discussion' started by Joyce Potts, Oct 13, 2010.

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  1. Joyce Potts

    Joyce Potts Elite Member

    18
    Feb 6, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    United State Court of Appeals - 5th Circuit

    http://www.ca5.uscourts.gov/OralArgumentRecordings.aspx

    Well worth the 42 minutes of listening, IMO--If for no other reason, than both sides of the story are finally coming out. A hearty JOB WELL DONE to the appraisers who filed this suit on behalf of ALL the appraisers, whether some of you realize or agree with it or not. That took guts:clapping:

    And shame on the AI for the part they may have played in the AI Ready development that served to compete directly against their residential membership. :nono:

    I'm hoping that the recent rumblings of the commercial AVM's wasn't the straw that finally broke the camel's back in breaking from TAF, but better late than never, I suppose.m2:

    Joyce J. Potts, SRA
     

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  2. Marion Rhodes

    Marion Rhodes Elite Member

    Top Poster Of the Month

    282
    Feb 26, 2006
    Professional Status:
    Certified General Appraiser
    State:
    Pennsylvania
  3. NORTON

    NORTON Senior Member

    0
    Oct 10, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    very interesting......it seems like halfway through, the judge is seeing our point....will update once i get all the way through.

    The FNC lawyer is willing to concede wrong doing, but just not the level of the allegations.

    Do u think the AI will ever fess up to the problem they helped create?
     
    Last edited: Oct 13, 2010
  4. Highlander416

    Highlander416 Member

    8
    Feb 16, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Massachusetts
    Just listened. Seemed the judges were seeing things very clearly in the Appraisers favor. They questioned again and again on the theme of using the stolen data as their own.
     
  5. Joyce Potts

    Joyce Potts Elite Member

    18
    Feb 6, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    I remain cautiously optimistic. But the arguments and the judges' comments are pretty enlightening. The seem to 'get it', but we'll see.
     
  6. Pittsburgh Pete

    Pittsburgh Pete Elite Member

    48
    May 6, 2008
    Professional Status:
    Certified General Appraiser
    State:
    Pennsylvania
    Now that's funny! The reason was obvious and had nothing to do with a commercial AVM which would be signficantly less reliable than a residential AVM (think volume and consistency). Can you say "red herring?"
     
  7. SutnNC

    SutnNC Senior Member

    8
    Nov 5, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    Thanks for posting. I particularly enjoyed the uncomfortable parts on the side of the defense as well as the chuckles from the bench. It's interesting how absurd the whole thing is once people are informed to the actual "going on's."

    I expect to see more of this as the door slowly opens on this kind of nonsense.

    "Can you repeat the question?"m2:
     
  8. Highlander416

    Highlander416 Member

    8
    Feb 16, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Massachusetts
    Yes, you could hear the judges laughing at the FNC argument. However, the argument of whether the case can continue under the act they are arguing remains to be seen. The judges also seemed to question whether the case was being brought in the right manner. This is going to be interesting.
     
  9. CANative

    CANative Elite Member

    169
    Jun 18, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Check out 11:50... "Why should lenders pay an appraiser $450...?"

    More C&R evidence. lol

    How do appraisers have an argument when each report we send acknowledges that the report can be distributed to data collection and reporting services?
     
  10. HF Mudd

    HF Mudd Senior Member

    26
    Jul 31, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    Apparently FNC's argument is that they only commited State fraud, not Federal fraud.
     
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