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Coercive lender update

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Doug in NC

Thread Starter
Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
A few weeks ago I received the order for an appraisal to be accepted ONLY IF I could give the lender the value they wanted. I received a response from the Banking Commission about this today. It turns out the lender was doing business in the state without the required registration.

The online lender has been given a copy of my complaint and is expected to respond. Maybe now they will find out that it is against the law to pressure appraisers for values. I am sure some others here have been contacted by this company- they solicit appraisal businesses via email advertising.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Hey Doug, how about going to the Clients - Good, Bad and Ugly and posting the name. Good job!!!!
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
By all means post their name!! As long as you state facts there is nothing wrong with stating a companies name.
 
A

Anonymous

Guest
Doug,

Congrats. I wonder how many of these companies are doing this?
 
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