Judge Rules Appraiser/Lender Owe no duty of care

[Huds_Harm]

Letter to HUD Regarding Defect Taxonomy​

https://www.nclc.org/resources/letter-to-HUD-regarding-defect-taxonomy/

 

[Huds_Harm]

Lenders accountable for FHA appraisal fraud​

https://blogs.alamode.com/lenders-accountable-for-FHA-appraisal-fraud/

 

[Mark K]

Am I the only one thinking..."WTF is the purpose of this thread?" Professional victim looking for sympathy?

 

[Huds_Harm]

FHA prohibits lenders from accepting appraisal reports completed by an appraiser selected, retained or compensated in any manner by a real estate agent. To ensure appraiser independence, FHA-approved lenders are also prohibited from accepting appraisals prepared by FHA roster appraisers who are selected, retained or compensated in any manner by a third-party sponsored originator or any member of a lender’s staff who is a commission basis tied to the successful completion of a loan.

NOTHING a borrower does is used to determine property eligibility. That is the DUTY of the APPRAISER/LENDER only, and there is no amount of pages of deflection that will change that.

 

[Tom D]

the judge does not care about USPAP and HUD guidelines. was this a judge only case or with a jury. typically juries are more sympathetic to the hurt party . however, if the case was dismissed with no judgement against anyone, are you saying the judge/jury didn't understand what they heard. and no one else understands what happened to you, or you to yourself. after reading more of the threads, i am now in agreement that even if the appraiser missed it, there would be no way for any appraiser to see a future problem. or the possibility that you made it a problem.
i rarely do septic, big city urban, but i see no blaming yourself here, only looking for support, as an excuse for your bad judgement. and i don't think we have seen all the evidence, only your presentation. and for that i agree with no judgement. we haven't gotten all the facts in this case, just the incessant complaining.

but i found it facinating the complexities of septic systems, being a ghetto appraiser. mostly ignoring poster. you lucky burb/rural appraisers.

 

[Surf Cat]

Court of law found no fraud.

Go away....

 

[Huds_Harm]

the judge does not care about USPAP and HUD guidelines. was this a judge only case or with a jury. typically juries are more sympathetic to the hurt party . however, if the case was dismissed with no judgement against anyone, are you saying the judge/jury didn't understand what they heard. and no one else understands what happened to you, or you to yourself. after reading more of the threads, i am now in agreement that even if the appraiser missed it, there would be no way for any appraiser to see a future problem. or the possibility that you made it a problem.
i rarely do septic, big city urban, but i see no blaming yourself here, looking for support, as an excuse for your bad judgement. and i don't think we have seen all the evidence, only your presentation. and for that i agree with no judgement. we haven't gotten all the facts in this case, just the incessant complaining.

but i found it facinating the complexities of septic systems, being a ghetto appraiser. mostly ignoring poster. you lucky burb/rural appraisers.

Her attorney replied using HUD’s Valuation protocol stating:

1. “Who May Rely on Appraisal Report – The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties.”

As well as the defense of 552 negligence in tort which Texas has adopted and states:

“Section 552(1) provides: One who, in the course of his business, profession or employment, or in any transaction in which he has a pecuniary interest, supplies false information for the guidance of others in their business transactions, is subject to liability for pecuniary loss caused to them by their justifiable reliance upon the information, if he fails to exercise reasonable care or competence in obtaining or communicating the information.”

The judge then asked her attorney “How do you get around the fact that she purchased it as is?” and it was in that moment she knew that not only was his mind made up but that he was completely mislead, which was proven by his entering of the order less than 2 hours after the hearing.

In order for a court to grant summary judgment the movant must show that there is no genuine dispute as to any material fact and the movant is entitled to judgment as a matter of law. The court should state on the record the reasons for granting or denying the motion.

The Judge ultimately granted the appraiser’s motion for summary judgement and listed no basis.

 

[Huds_Harm]

Court of law found no fraud.

Go away....

I didn't sue for Fraud. That's a completely different law suit.

A Qui Tam False claims act which allows persons and entities with evidence of fraud against federal programs or government contracts to file a qui tam lawsuit against the wrongdoer on behalf of the United States Government.

 

[Tom D]

stupidity doesn't count as fraud. saying as is, then demanding it should be fixed is also stupidity. your use of the above claims act is a convoluted twist, but da attorney don't care as long as you keep the checks going to their bank account. judge wrong, me always right. you seem to have a compulsive disorder in repeating the same over and over and over again. but your attorney is all the more happy for your contributions to their account. but is was a good thread to see what happened, just tired of da repeating.

 

[Huds_Harm]

stupidity doesn't count as fraud. saying as is, then demanding it should be fixed is also stupidity. your use of the above claims act is a convoluted twist, but da attorney don't care as long as you keep the checks going to their bank account. judge wrong, me always right. you seem to have a compulsive disorder in repeating the same over and over and over again. but your attorney is all the more happy for your contributions to their account. but is was a good thread to see what happened, just tired of da repeating.

Let me REPEAT this slowly. An FHA appraisal that is marked "as is" rather than "subject to" when repairs are required is fraud.

Mark this box “as is” when: • There is/are no repair(s), alteration(s) or required inspection condition(s) noted.

In the performance of an FHA appraisal, the appraiser must denote any deficiency in the appropriate section(s) (site issues in the site section, improvement issues in the improvements section) of the appraisal report. The appraiser is to note those repairs necessary to make the property comply with FHA’s Minimum Property Requirements (MPR) or Minimum Property Standards (MPS) together with the estimated cost to cure. The lender will determine which repairs for existing properties must be made for the property to be eligible for FHA-insured financing. Cosmetic repairs are not required; however, they are to be considered in the overall condition rating and valuation of the property. Examples of cosmetic repairs would include surface treatments, beautification or adornment not required for the preservation of the property. For example, generally, worn floor finishes or carpeting, holes in window screens, or a small crack in a windowpane are examples of deferred maintenance that do not rise to the level of a required repair but must be reported by the appraiser. The physical condition of existing building improvements is examined at the time of the appraisal to determine whether repairs, alterations or inspections are necessary - essential to eliminate conditions threatening the continued physical security of the property. Required repairs will be limited to necessary requirements to: • protect the health and safety of the occupants (Safety) • protect the security of the property (Security) • correct physical deficiencies or conditions affecting structural integrity (Soundness) A property with defective conditions is unacceptable until the defects or conditions have been remedied and the probability of further damage eliminated. Defective conditions include: • defective construction • other readily observable conditions that impair the safety, sanitation or structural soundness of the dwelling Typical conditions that would require further inspection or testing by qualified individuals or entities: • infestation – evidence of termites • inoperative or inadequate plumbing, heating or electrical systems • structural failure in framing members • leaking or worn-out roofs • cracked masonry or foundation damage • drainage problems