Judge Rules Appraiser/Lender Owe no duty of care

[Huds_Harm]

Maybe OP is the buyer's agent somehow related with a personal interest with buyer.
Public is finding out how our appraisal system - HUD, lender, AMC, USPAP are set up to protect themselves.
The appraiser is at the bottom of the totem pole and they will throw the appraiser under the bus, their sacrificial lamb.

Exactly, the lender who is required to review the appraisal and sign a certification saying it meets MPR literally said to the judge.

“we are not saying she doesn’t have a remedy or leaving her without one, they are right here.” Pointing out the appraiser’s counsel.

They will pressure the appraiser that they only accept "as is" appraisals meaning no items are allowed to be listed subject to repair and turn around and throw the appraiser under the bus.

And HUD tells the lender "there's no way they could've known" something that was public information.

Its a sad situation when you are coerced into compliance in order to get paid.

 

[George Hatch]

Respectfully I did not come here for answers. I came here for awareness and found out how many appraisers will defend this blatant incompetence.

I dont have to imagine how much I would've spent, because I have spent it on attorney's for three years.

I am not the attorney.

We do this for our day job, most of us having at least 20 years in, and you think you have something new to add to our body of knowledge?

Kewl. You're the 2nd person this week who thought they know more than us about what we do in our day job. They were wrong, too.

 

[Huds_Harm]

I don't read it the same way. FHA says that if the local provides similar safety measures it applies to all the well and septic requirements.

google FHA well waiver.

 

[Huds_Harm]

Your attorney? The court? I have no idea how stuff like this gets litigated. But if you wanted to show a non cropped photo to compare, seems like you could do that.

Personally, I would concentrate on the main issue of the septic and well, the "sanitary" issue, instead of trying to pile on the deck railing and fence, that is minor. And you would need evidence of the cost of the repairs. It seems crazy high. You're not going to get back equity you might have gained. That's just not how the world works. I regularly see what septic systems cost for new homes here, where it is solid limestone to drill through. I mean, it's also a waterfront property. If one of your kids falls in and drowns, would that be the appraiser's fault too?

I did that Tiffany and it is about the septic and well. The deck and fence show further intent to conceal anything that would have required it be subject to.

 

[Huds_Harm]

We do this for our day job, most of us having at least 20 years in, and you think you have something new to add to our body of knowledge?

Question, if you are aware of things like this going on, did you share the article link to expose it?

Or is that to be kept secret amongst appraisers?

 

[shrubberyvaluation]

Respectfully I did not come here for answers. I came here for awareness and found out how many appraisers will defend this blatant incompetence.

I dont have to imagine how much I would've spent, because I have spent it on attorney's for three years.

I am not the attorney.

People here do not defend incompetence. We know full well about Class AMC and how they prefer the most incompetent appraisers that they can pay pennies to keep sometimes 80%+ of the appraiser fee.

 

[George Hatch]

Question, if you are aware of things like this going on, did you share the article link to expose it?

Or is that to be kept secret amongst appraisers?

Borrowers not having any legal standing in these appraisal assignments was old news 25 years ago. Welcome to yr2000.

 

[Huds_Harm]

People here do not defend incompetence. We know full well about Class AMC and how they prefer the most incompetent appraisers that they can pay pennies to keep sometimes 80%+ of the appraiser fee.

Did you share the link to expose it?

 

[Huds_Harm]

Borrowers not having any legal standing in these appraisal assignments was old news 25 years ago. Welcome to yr2000.

I will take that as a no.

 

[Tiffany Gibbons]

In response to an acre not being large enough to meet the guidelines. That makes no sense. No way that is true.