Oakland appraisal dispute settlement

[shrubberyvaluation]

And then there’s this (posted to FB):


View attachment 99122

Loan Depot has been accused of racial bias and paid the people off IIRC. Have they made statements or helped Shane Lanham? Did they continue to give work to Shane Lanham after he was falsely accused? Tell them you were accused and they will thank you by not giving you work, not that you would want to work with them.

 

[Zoe]

Loan Depot has been accused of racial bias and paid the people off IIRC. Have they made statements or helped Shane Lanham? Did they continue to give work to Shane Lanham after he was falsely accused? Tell them you were accused and they will thank you by not giving you work, not that you would want to work with them.

AMCs complicating the process and their money got commingling of fees separated.

Why in the world Federal Govt did not step in?

I don't know. I am almost certain money was involved from donors.

 

[Zoe]

BTW NAIFA almost went broke trying to get separation of appraisal/AMC fees.

 

[Zoe]

Okay, I will go deeper. Does money influence you ?

That is microeconomics.

Emagine what lobbyist are giving Congress.

Trump is a tailwind. I don't know. But some GOP are turning.

 

[Tom D]

Loan Depot has been accused of racial bias and paid the people off IIRC. Have they made statements or helped Shane Lanham? Did they continue to give work to Shane Lanham after he was falsely accused? Tell them you were accused and they will thank you by not giving you work, not that you would want to work with them.

I wouldn't hire you again. Why hire stupid or help them. You now have a red mark on your forehead. E&O where you will mention it each time when you re apply, if they let you have E&O again. No new lenders will touch you.
Now if he was found not guilty by a court, that is a different situation. Although, waiting 2 years for a favorable decision, you've been dead that whole time. Death by the perception of guilt.

 

[djd09]

CA department alleges appraisal company discriminated against Oakland family​

A state investigation found the cause for the “lowballed” appraisal and denial of the loan was discrimination, the release said. As part of the settlement,the individual appraiser has agreed to pay $90,000 in compensation, including $75,000 to the family. Clear Capital agreed to provide racial bias training to employees, and continue to track and investigate complaints.

“Whether it’s lowball appraisals or a history of redlining, communities of color across the country continue to confront the multigenerational harms of housing discrimination,” Civil Rights Department Director Kevin Kish said in the release. “Appraisers, lenders, and brokers all have a responsibility to prevent discrimination in real estate transactions. I applaud the family for speaking out and the Fair Housing Advocates of Northern California for helping them make their case. Every effort to correct injustice makes a difference for those who come after. These settlements are an important step forward for protecting the fair housing rights of all Californians.”

Read more at: https://www.sacbee.com/news/local/article304281291.html#storylink=cpy


look at kish tongue lash appraisers....what a dope...notice they didn't get a waiver

 

[djd09]

Oakland homeowner settles with appraiser, lender after $300,000 lowball appraisal​

Friday, May 10, 2024

Oakland homeowner settles with appraiser, lender after $300,000 lowball appraisal

The appraiser hired by the lender appraised an Oakland homeowner's property at $785,000 -- a value much lower than the homeowner expected. A month later, a new appraiser gave a value of more than $300,000 above the initial appraisal.

abc7news.com

was there two lawsuits in oakland?

 

[OSU Beavers]

Clear Capital is the King of the Low fee Fast turn time dirtbags.

You get what you pay for.

 

[Fritz in NY]

Opinion of Value. It's my opinion, not science, not graphs, not Market Conditions Report, math calculations, not data from 3-4 years prior, it comes down to MY Opinion. Why did you hire me? Sp, another person has another Opinion. and you go to the purgatory forever? Come on guy/s we all agree that if we measure a dwelling, same dwelling, we could all be off 2-3% from each other.

 

[djd09]

the USPAP instructor said to define the intended user better and such...