Judge Rules Appraiser/Lender Owe no duty of care

[Fernando]

If the appraisal report did mention all the accusations, the original poster would blame the appraiser for causing loan denial.

Or find another lender paying higher mortgage rates.

 

[George Hatch]

You see that's where the incompetence lies. I did not sue for a failed septic system.

I sued because the property did not meet MPR requirements working septic or not.

And I sued because there is not sufficient room for repair or replacement at a reasonable cost which per the FHA well waiver was required to be determined.

C'mon now, that is exactly why you sued, the only reason you sued. If the system hadn't failed then you still wouldn't be aware of, nor would you care, about FHAs underwriting criteria. You only started looking for the escape route once you became aware of the problem.

Inasmuch as you COULD have exercised more due diligence on your end prior to even making an offer then you didn't work to your options and alternatives. I don't disagree that your efforts were no more nor less than that of most other market participants, but you COULD have done more had you known more about what you were doing. That much is on you and is in addition to the appraiser's failures. Not in lieu of their responsibilities (which you're the only one who keeps making that strawman).

This wasn't an inevitable or unavoidable outcome on your part. You should consider admitting that, even if only to yourself.

 

[George Hatch]

Put it this way: if you were faced with the same opportunity to buy today, you would most certainly take the additional steps to answer these questions about the property prior to making an offer on it; and you would do that as a direct result of becoming more informed about how septic systems work and how FHA MPRs are applied. So don't say you couldn't have avoided this outcome because that obviously is untrue.

 

[Surf Cat]

Well, I was discussing appraisal issues and methodology with an appraiser I assumed could explain and defend their position. You are simply being a petty jack*ss for sport with support from your friends! I read most all of this thread and the last one on the same subject and it is abundantly clear that you became petty and childish when you weren't spoon fed the details of the circumstances that have been available to you the whole time. And you (and others) continually berate the OP over not doing her due diligence, but are commenting without a clue. But I am marking this thread as another source of every possible defense known to appraisers to justify my mistakes should I ever be called out!

Meanwhile, I keep in mind that little provision of USPAP that says "an appraiser must not commit a substantial error of omission or commission that significantly affects an appraisal; and, not render appraisal services in a careless or negligent manner, such as by making a series of errors that, although individually might not significantly affect the results of an appraisal, in the aggregate affects the credibility of those results."

I sincerely hope the OP prevails in this. The copout defense of "you are not an intended user" (coupled with the completely bogus "but we are protecting the public trust") is weakening, and will likely disappear in the near future and that expectation doesn't bother me in the least. Clearly, though, many appraisers rely on it as the means to facilitate their incompetence and cavalier rendering of appraisal services. I will happily go forward without that copout if it means those not giving a damn about what they leave in their wake are removed from the field.

Well Terry, it appears that you bought hook line and sinker, the OP's anecdotal evidence without considering alternative perspectives....from your peers no less. Hey, that's okay, that's your prerogative.

Myself on the other hand, I don't like to be jerked around. When you quoted my post, it was at the point where I had enough. Is that a valid excuse? I really don't care.

It wasn't just the appraisal. The appraisal made its way through several checkpoints of the FHA process, "along with" a home inspection, the septic being pumped, the septic being drained and filled which the op failed to give specifics on when these actions transpired. She got the loan!

The appraiser's commenting on this thread weren't against her. We were trying to find out what had happened and what she could do. Her dodging, weaving, evading, sidestepping, is what got the thread to this point.

Here's what she stated Terry in case you missed it.

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

And when asked what she wanted from us.

Just to expose those of you who deflect to the borrower.

You might be okay with this lady throwing the appraisal profession, our morals and ethics under the bus..... I'm not.

But if you're going to believe that hit piece to start off this thread. Without any further evidence that transpired which led to her losing her case in court..... then go ahead jump on a plane to Texas and sit by her and hold her by the hand. Poor little innocent thing, Terry will protect you from those big, bad, incompetent appraisers. Lol

 

[Huds_Harm]

Well Terry, it appears that you bought hook line and sinker, the OP's anecdotal evidence without considering alternative perspectives....from your peers no less. Hey, that's okay, that's your prerogative.

Myself on the other hand, I don't like to be jerked around. When you quoted my post, it was at the point where I had enough. Is that a valid excuse? I really don't care.

It wasn't just the appraisal. The appraisal made its way through several checkpoints of the FHA process, "along with" a home inspection, the septic being pumped, the septic being drained and filled which the op failed to give specifics on when these actions transpired. She got the loan!

The appraiser's commenting on this thread weren't against her. We were trying to find out what had happened and what she could do. Her dodging, weaving, evading, sidestepping, is what got the thread to this point.

Here's what she stated Terry in case you missed it.

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

And when asked what she wanted from us.

Just to expose those of you who deflect to the borrower.

You might be okay with this lady throwing the appraisal profession, our morals and ethics under the bus..... I'm not.

But if you're going to believe that hit piece to start off this thread. Without any further evidence that transpired which led to her losing her case in court..... then go ahead jump on a plane to Texas and sit by her and hold her by the hand. Poor little innocent thing, Terry will protect you from those big, bad, incompetent appraisers. Lol

It’s not my fault you didn’t take 20 minutes to read all the facts.

Anecdotal evidence? Is that like fake news?

You replied to everything except me telling you the desk review found 18 deficiencies including those that affect value, but I guess those were Anecdotal.

And facts don’t have alternative perspectives.

You’re blind loyalty to the profession threw yourself and anyone else who attempted to deflect appraiser responsibilities to the borrower under the bus so don’t claim you have morals and ethics now.

As shown by your continued insults.

 

[Fernando]

Surf Cat, George, and others have spent lot of time on your thread.
Surf Cat had some questions about your ulterior motives.
If OP had given more facts that he had asked, Surf Cat wouldn't be so wary of your true intentions.

 

[Huds_Harm]

Surf Cat, George, and others have spent lot of time on your thread.
Surf Cat had some questions about your ulterior motives.
If OP had given more facts that he had asked, Surf Cat wouldn't be so wary of your true intentions.

Surf Cat should read.

 

[Fernando]

As Surf Cat said, "Appraisers don't like to be jerked around".
If there's a question and given all the facts, we will tell it the way it is.

 

[Huds_Harm]

Well Terry, it appears that you bought hook line and sinker, the OP's anecdotal evidence without considering alternative perspectives....from your peers no less. Hey, that's okay, that's your prerogative.

Myself on the other hand, I don't like to be jerked around. When you quoted my post, it was at the point where I had enough. Is that a valid excuse? I really don't care.

It wasn't just the appraisal. The appraisal made its way through several checkpoints of the FHA process, "along with" a home inspection, the septic being pumped, the septic being drained and filled which the op failed to give specifics on when these actions transpired. She got the loan!

The appraiser's commenting on this thread weren't against her. We were trying to find out what had happened and what she could do. Her dodging, weaving, evading, sidestepping, is what got the thread to this point.

Here's what she stated Terry in case you missed it.

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

And when asked what she wanted from us.

Just to expose those of you who deflect to the borrower.

You might be okay with this lady throwing the appraisal profession, our morals and ethics under the bus..... I'm not.

But if you're going to believe that hit piece to start off this thread. Without any further evidence that transpired which led to her losing her case in court..... then go ahead jump on a plane to Texas and sit by her and hold her by the hand. Poor little innocent thing, Terry will protect you from those big, bad, incompetent appraisers. Lol

It’s not my fault you didn’t take 20 minutes to read all the facts.

Anecdotal evidence? Is that like fake news?

You replied to everything except me telling you the desk review found 18 deficiencies including those that affect value, but I guess those were Anecdotal.

And facts don’t have alternative perspectives.

You’re blind loyalty to the profession threw yourself and anyone else who attempted to deflect appraiser responsibilities to the borrower under the bus so don’t claim you have morals and ethics now.

As shown by your continued insults.

It's okay, research shows we also interpret facts differently if they challenge our personal beliefs, group identity or moral values. "In modern media terms, that might mean a person is quick to share a political article on social media if it supports their beliefs, but is more likely to fact-check the story if it doesn't,"

You don't believe there should be any recourse to the buyer for a defective appraisal that be it not for their incompetence places a financial hardship on someone.

And that's what you use your CYA clauses for. Other honest appraisers that can stand by their work use those clauses as a shield to prevent frivolous lawsuits, not as a weapon to avoid accountability.

 

[Surf Cat]

It’s not my fault you didn’t take 20 minutes to read all the facts.

Anecdotal evidence? Is that like fake news?

You replied to everything except me telling you the desk review found 18 deficiencies including those that affect value, but I guess those were Anecdotal.

And facts don’t have alternative perspectives.

You’re blind loyalty to the profession threw yourself and anyone else who attempted to deflect appraiser responsibilities to the borrower under the bus so don’t claim you have morals and ethics now.

As shown by your continued insults.

I'm only posting because you're quoting my posts. I said I was out. Don't quote my posts and you'll not hear from me again.

It doesn't matter what I would say about your desktop review with 18 deficiencies....you still forged forward and signed on the dotted line.

G. Hatch's post #702 sums it all up perfectly BTW.