NY, FirstAM & WaMu article

[444nutman]

WAMU SUSPENDS RELATIONSHIP W. First AMERICAN UNIT Following suit:


http://www.forbes.com/markets/feeds/afx/2007/11/01/afx4290654.html

Nice try on the spin but from the emails I read WAMU was doing the pushing, dangling other business carrots in front of Eappraiseit. EA buckled for the dollar even though they knew it was wrong. The current state of the housing market the spin WAMU is making is not going to help them one bit. They are fools to think that they are untouchable in this.

 

[Frederick]

After this, it's going to be real hard to sell financial instruments with collateral valuations with the Eappraisit/First American name on it. OUCH!

Once the integrity of the appraisal has been broken to add a watermark there is no guarrantee that it has not been altered in some other way.

Now the evidence presented in this suit suggests that those who broke the integrity of the appraisals have a history of engaging in unethical business practices.

As for Pam's suit:

After reading the transcript of Pam's and Merlo's testimony I think Eappraisit hires their attorneys the same way they hire their appraisers......lowest bidder without regard to expertise.

I'm betting on Pam........besides I never bet against a redhead.

You go girl!

 

[Bigrock]

I am wondering if we can find out if they are in fact data mining and therefor infringing on Copywrite protections and secondly does anyone with wa mu loan have any recourse especially if they are losing there home?

Looks to get interesting..


Also,,Is Rels far behind eappraiseit???

 

[CCAAMO]

AMC's need to be exposed for all the dirty tricks they used. I was too approved by several large lenders that went with "E" and/or "LSI"...result = no more work.

They hired the newbie trainees or inexperienced at ridiculously lower and lower fees.

The AMC's in fact caused me to lose business. Wonder if we could ever get any of that back?

Personally, we'd all be better if AMC's were outlawed.

If appraiser's were denied work ( illegal restraint of trade) as the result of RICO statute violations, isn't that subject to a class action suit with triple damages?
:new_multi:

 

[Joyce Potts]

After this, it's going to be real hard to sell financial instruments with collateral valuations with the Eappraisit/First American name on it. OUCH!

Once the integrity of the appraisal has been broken to add a watermark there is no guarrantee that it has not been altered in some other way.

Now the evidence presented in this suit suggests that those who broke the integrity of the appraisals have a history of engaging in unethical business practices.

As for Pam's suit:

After reading the transcript of Pam's and Merlo's testimony I think Eappraisit hires their attorneys the same way they hire their appraisers......lowest bidder without regard to expertise.

I'm betting on Pam........besides I never bet against a redhead.

You go girl!

Since that 'emergency' hearing on the injunction that Pam won, eAppraiseIT has since switched attorneys/firms.

That was an easy prediction after that fiasco.

 

[Kevin A. Spellman]

Have gone through and read most of the 155 posts. I just have say one thing. “I will not need ****** tonight”.

This is exciting news for the individuals like myself who experience economic terrorism by the lending industry and there service providers.

 

[Pamela Crowley (Florida)]

From an eAppraiseIT/WAMU memo:

Quote:

Note: AI-Ready will re-format the data sent and create a new PDF for delivery to the client. During this process, the overall look and formatting of some fields will be changed.

Quote:

Note: An image of your signature will be included in data transmission sent to FNC, FNC reattached the signature images to the data when creating the AI-Ready PDF to be delivered to the client.

Think about all the implications of these two quotes.

Who is that 'third party software company' doing these 'conversions'?????

 

[Carnivore]

You LSI appraisers start taking notes and keeping records of pressure from that crowd. I hear a steam roller!

 

[Mike Scannell]

1stAm/Eapp/WAMU

If the folks in NY would like "concrete" examples of how that same thing was happening in Central Fl. (with the same basic players---only in this case it was the lender exerting all the pressure on BOTH the AMC (LSI inthis case)and appraisers; for a while the AMC (LSI again) was actually trying to protect us) I'm pretty certain my previous boss could be persuaded to provide quite a bit of info on how we came to be blacklisted by the lender for supposedly being "non-professional" (read that to be "not hitting the homeowner's/lender's ZILLOW #s".....No sympathy on my part, where do I go to buy a ticket to watch them all burn.

AKABEAR

 

[Joyce Potts]

From an eAppraiseIT/WAMU memo:

Quote:


Quote:

Think about all the implications of these two quotes.

Who is that 'third party software company' doing these 'conversions'?????

I think Mr. Cuomo has already thought about the implications. It's time for the appraisal community to put the final pieces of the puzzle together and think about long term issues that are impacting our industry.

Step up and report any and all questionable activity to the State of NY AG's office AND Pam Crowley to help aid in her defense in a lawsuit that was brought against her for making the same kinds of allegations that are contained in the NY vs. First American and eAppraiseIT suit.