Judge Rules Appraiser/Lender Owe no duty of care

[Tiffany Gibbons]

How did that happen? Did these parties enter into a settlement?

The judge ruled and she lost. Now, my guess is she's appealing the decision. She purchased it in "as is" condition.

 

[Mejappz]

This results from prioritizing fast and cheap by opting for an AMC-like Class. I'm curious about how many inspections this appraiser completed the day he inspected your property. And Rocket Mortgage is notorious for leaving the appraisal for the last thing in the process.

 

[Huds_Harm]

Correct because the FHA Minimum property requirements that are intended to protect the health and safety of the OCCUPANT are never revealed to the occupant beforehand. The only thing that revealed it in this situation is the system failing AND the borrower doing the research on what was actually required. So you’re right, how many appraisers have bypassed minimum property requirements to close loans on properties that didn’t qualify?

 

[Huds_Harm]

How did that happen? Did these parties enter into a settlement?

The lender and appraiser’s attorney lied to the court claiming she purchased it as is implying the conventional meaning rather than the Federal.

The federal “as is” requirement is IN ADDITION TO the GSE scope of work which REQUIRES CONDITIONING THE APPRAISAL ON COMPLETION OR REPAIR when there are conditions that adversely affect the livability, soundness or structural integrity of the property.

 

[Huds_Harm]

The judge ruled and she lost. Now, my guess is she's appealing the decision. She purchased it in "as is" condition.

The federal “as is” requirement is IN ADDITION TO the GSE scope of work which REQUIRES CONDITIONING THE APPRAISAL ON COMPLETION OR REPAIR when there are conditions that adversely affect the livability, soundness or structural integrity of the property.

 

[Huds_Harm]

Every complete home inspection report I have seen covers every MPR I can think of and also many items that would not be within the pervu of an appraiser

The buyers home inspection is not used or provided to the lender or appraiser to determine the home meets minimum property requirements.

 

[Mike Ault]

The lender and appraiser’s attorney lied to the court claiming she purchased it as is implying the conventional meaning rather than the Federal.

The federal “as is” requirement is IN ADDITION TO the GSE scope of work which REQUIRES CONDITIONING THE APPRAISAL ON COMPLETION OR REPAIR when there are conditions that adversely affect the livability, soundness or structural integrity of the property.

"Wordsmithing" doesn't override the words conveyed in the promulgated Texas purchase agreement, TREC NO. 20-15. Everybody's "lying," everyone is guilty of "fraud". Don't think so. "Negligence" is all you have proven.

 

[Mejappz]

Bayou how much were charged by Class for your appraisal?

 

[Tiffany Gibbons]

Bayou how much were charged by Class for your appraisal?

She paid $650. She should get out the settlement HUD 1 and see how much Class took out of the fee, and send that to Rohit Chopra.

 

[Huds_Harm]

"Wordsmithing" doesn't override the words conveyed in the promulgated Texas purchase agreement, TREC NO. 20-15. Everybody's "lying," everyone is guilty of "fraud". Don't think so. "Negligence" is all you have proven.

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And I should have been allowed to prove that to a jury.