Coercive lender update

[Doug in NC]

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.

 

[Pamela Crowley (Florida)]

Hey Doug, how about going to the Clients - Good, Bad and Ugly and posting the name. Good job!!!!

 

[Jeff Horton]

By all means post their name!! As long as you state facts there is nothing wrong with stating a companies name.

 

[Anonymous]

Doug,

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