Complaint Against A Lender

[Still Trying]

Ok, long story short I need help with a lender from a national bank. I competed an appraisal subject to the completion, lender comes back two days after the completion is submitted and says she needs a new appraisal as the borrower needs to loan more money and states a specific value that the appraisal needs to come in at. I agree to do a new appraisal, which did not come in at the requested value of the lender. Lender gets obviously ubset and numerous emails follow for "clarification" on my value. I did find out some time later that the lender is very good friends with the borrower. Lender is so upset that she finds a reason to file a complaint with the state board, which involved allowing an associate appraiser with an expired license (which I was unaware of) inspect the property for the completion and I signed it as the appraiser, not supervisory appraiser. Of course, I accepted full responsibility for my mistakes and was given a slap on the wrist by the state. Fine, I thought the issue was all resolved...Lender is upset that I just got a slap on the wrist. She decides to send 15 of my appraisals to an AMC for review, I am assuming in hopes to find further reason for additional complaints to the state. The reason I know this is I am the only appraiser in this coverage area who works for this AMC, so all the review requests were sent to me. Of course, I did not accept them but it gave me insight on what this lender was doing. In the process, I get a few phone calls from people that I did the appraisals on their homes a few years ago who went to this lender for a mortgage loan and asked if it was going to be the same appraiser or not. Lender informs these people that they can not use me anymore as my license is suspended, which it is not. I get another call from another bank, not affiliated with this lender's bank, in the same community who asks me also if my license has been suspended but would not disclose where she had heard that. Mind you, all of this is happening before my disposition with the state has even been filled and become public record. In addition, this lender stopped paying me for appraisals that had been completed within the last few months pior to the appraisal she is so upset about. I sent her an email to just state there were outstanding invoices only come to find out she has blocked my email address!!! I feel like this is high school bullying all over again!! I totally accept my wrong doing and the discipline that followed from the state, however, this has gone too far. It is time to fight back before she completely burries me and my business!! I know the OCC handles complaints against federal banks. I know this bank has violated a few laws. I am just looking for guidance on specific laws broken or maybe other violations that I may have over looked. Also, should I keep trying to do this on my own or higher a federal lawyer? Are my complaints worth a federal lawyer? HELP!!!!!!

 

[Mike Kennedy]

"Lender comes back two days after the completion is submitted and says she needs a new appraisal as the borrower needs to laon more money and states a specific value that the appraisal needs to come in at. The homeowners left for a month for vacation. I agree to do a new appraisal with the effective date the same as the inspection date of the construction completion as it was 2 days prior."

please clarify:

Apparently you accepted the "new appraisal assignment" after "she" stipulated "a specific value that the appraisal needs to come in at". Yes?

Your post indicated you utilized an effective date 2 days prior to the "new assignment" order date. Yes?

Your post does not indicate whether you signed the first report done by the "Associate" as Supervisory Appraiser"

Your post also does not indicate whether you signed the second report's Appraiser's certifications, as Appraiser, or whether you personally inspected the site.

Your post indicates you utilized the subject's data from the earlier appraisal report in the second appraisal report?

When you received notification from the State re the first complaint you were obligated to notify your E&O Insurance provider. IF you have subsequently been, or are notified by your State Board that an additional complaint, or complaints, has/have been formally filed, be certain to notify your E&O A.S.A.P. and seek their legal advice as well.

There are several issues issues to be resolved.

Re: a complaint against the "lender" - Consult an Attorney.

 

[BRCJR]

See if this would work for you...

 

[MBiggers]

ST,

You can submit our Uniform Complaint Form to collect payment on past-due invoices and to start the paper trail with the appropriate state and federal regulators at www.appraisaladvisor.com

The form has been extremely effective in helping appraisers collect form AMCs and lenders who were refusing to pay and were unresponsive about payment.

Just so I don't come off as too sales-ish, here's the most recent success story with our UCF that helped an appraiser collect over $2,000 from a client how gave them the runaround for several months. He was paid 2 days after the UCF went out from our servers. http://appraisersforum.com/showthread.php?t=193523

Here's another success story: http://appraisersforum.com/showpost.php?p=2352867&postcount=7\

 

[TN Pro]

Lender comes back two days after the completion is submitted and says she needs a new appraisal as the borrower needs to laon more money and states a specific value that the appraisal needs to come in at. !

Why the hell would you take the new assignment after they state this?

 

[Still Trying]

Why the hell would you take the new assignment after they state this?

Good question. I accepted the assignment to do a new appraisal. The borrowers did do more improvements than the original appraisal subject to the completion was based on. I did inform the client at that time I could not determine what the value of the second appraisal would be until it was completed.

 

[Still Trying]

"Lender comes back two days after the completion is submitted and says she needs a new appraisal as the borrower needs to laon more money and states a specific value that the appraisal needs to come in at. The homeowners left for a month for vacation. I agree to do a new appraisal with the effective date the same as the inspection date of the construction completion as it was 2 days prior."

please clarify:

Apparently you accepted the "new appraisal assignment" after "she" stipulated "a specific value that the appraisal needs to come in at". Yes?

Your post indicated you utilized an effective date 2 days prior to the "new assignment" order date. Yes?

Your post does not indicate whether you signed the first report done by the "Associate" as Supervisory Appraiser"

Your post also does not indicate whether you signed the second report's Appraiser's certifications, as Appraiser, or whether you personally inspected the site.

Your post indicates you utilized the subject's data from the earlier appraisal report in the second appraisal report?

When you received notification from the State re the first complaint you were obligated to notify your E&O Insurance provider. IF you have subsequently been, or are notified by your State Board that an additional complaint, or complaints, has/have been formally filed, be certain to notify your E&O A.S.A.P. and seek their legal advice as well.

There are several issues issues to be resolved.

Re: a complaint against the "lender" - Consult an Attorney.

Like I said, I am well aware of the mistakes made when completing the reports. E & O insurance was informed. I have been disciplined by the state. The issues I need resolved is the lenders actions that proceeded, which by the way took place prior to final disposition by the state being publicaly recorded.

 

[Mike Kennedy]

Good question. I accepted the assignment to do a new appraisal. The borrowers did do more improvements than the original appraisal subject to the completion was based on. I did inform the client at that time I could not determine what the value of the second appraisal would be until it was completed.

Prior Post #1: "I agree to do a new appraisal with the effective date the same as the inspection date of the construction completion as it was 2 days prior. "

You utilized the same effective date as the first report yet the emboldened statement above indicates subject's characteristics changed?

 

[Still Trying]

Prior Post #1: "I agree to do a new appraisal with the effective date the same as the inspection date of the construction completion as it was 2 days prior. "

You utilized the same effective date as the first report yet the emboldened statement above indicates subject's characteristics changed?

A second inspection was done to complete the 1004D. That was the inspection date used to complete the second full appraisal.....Mind you, my question is not in regards to the mistakes I made during the appraisal process. I am well aware of them, was reprimanded by state, which I fully accepted. My concerns are in regards to the actions that proceeded by the lender.

 

[Mike Kennedy]

Disregard: Is the Lender a State Chartered or Federally Regulated Financial Institution?

OP "national bank"