Appraisal Bias

[glenn walker]

They sealed the amount of damages paid to Plaintiffs but some say it was in excess of $500K. Appraisers career is over .

 

[djd09]

i wouldn't have paid them one dime...they are not the client

 

[glenn walker]

i wouldn't have paid them one dime...they are not the client

Her E & O covered the Claim-She like most appraisers is broke

 

[djd09]

sounds like E&O rolled over...

 

[glenn walker]

i wouldn't have paid them one dime...they are not the client

They lost on the Client Privilege Appeal as the Feds said it was a case about Racism which is not covered so that failed.

sounds like E&O rolled over...

E & O Probably Million Dollar Policy - In San Francisco Courts it would be almost impossible to win a racial or discrimination case and so they settle. Remember this was also a Federal Case and was backed by big players and the appraiser never had a chance of winning. If I was in San Francisco unless E & O was involved I would simply plead no contest. Have the Court give me the damages and then let them try and collect

 

[djd09]

They lost on the Client Privilege Appeal as the Feds said it was a case about Racism which is not covered so that failed.

sorry judge, they should of order their own appraisal...

 

[George Hatch]

sounds like E&O rolled over...

Both parties rolled over. The plaintiffs obviously weren't 100% sure of the outcome either, else they wouldn't have taken less than the entirety of what a punitive damages award would have looked like.

 

[djd09]

oh that's right, the borrower cannot order an appraisal and use it for mortgage lending purposes by law...#regulationbias

 

[glenn walker]

oh that's right, the borrower cannot order an appraisal and use it for mortgage lending purposes by law...#regulationbias

Thats true

 

[George Hatch]

oh that's right, the borrower cannot order an appraisal and use it for mortgage lending purposes by law...#regulationbias

The use of borrower-engaged appraisals for GSE and related residential assignments was prohibited 30+ years ago. Long before you took your first Appraisal 101 course.