Realtor Fined $10,000 for Impersonating an Appraiser

[TC]

It's OK to impersonate an appraiser as long as you are licensed and have E&O

Worked for me.

 

[KHS445]

My suggestion for fine and restitution at a minimum would be the difference between the real estate (appraiser) agents estimate of value and the current fair market value. I would probably double or triple the amount and hold the AMC liable. They should have reviewed the report and known the persons qualifications or the lack thereof and supposedly they were hired by the lender to provide them with a report.

The property owner and the Lender may both have grounds on for a civil suit, and the property owner may also have a cause of action against the lender.

 

[Non Sequitur]

How much does anyone want to bet that the AMC involved is one of the GSEs' famous "partners"?

And they get, at most, a slap on the wrist.

 

[Non Sequitur]

My suggestion for fine and restitution at a minimum would be the difference between the real estate (appraiser) agents estimate of value and the current fair market value. I would probably double or triple the amount and hold the AMC liable. They should have reviewed the report and known the persons qualifications or the lack thereof and supposedly they were hired by the lender to provide them with a report.

The property owner and the Lender may both have grounds on for a civil suit, and the property owner may also have a cause of action against the lender.

I hope the borrower sues the lender, that is the only way some of this nonsense stops.

 

[djd09]

obviously this matter should had been referred to the state's attorney for criminal prosecution...that would involve the constitution which some appraisers cannot comprehend

 

[Overimprovement]

I'm surrendering my license so I can program my picture taking AI robot to ride in driverless Ubers to do PDC's all day at $33.75/pop. The bot will upload the pics to the conscienceless and consciousless AMC, which will then send the digital data to their AVM model which will kick out a value in 0.063 seconds and autobill the lender for $500. Their automated accountant will then send an ACH to my account, where my autobillpay will cover all my alleged wife's spending over the prior 30 days.

All of this will occur while I lay on a secluded Lake Tahoe beach watching WALL-E over and over, and wondering why the Donner party didn't download the weather app before their trip over the Sierras.

 

[Non Sequitur]

I'm surrendering my license so I can program my picture taking AI robot to ride in driverless Ubers to do PDC's all day at $33.75/pop. The bot will upload the pics to the conscienceless and consciousless AMC, which will then send the digital data to their AVM model which will kick out a value in 0.063 seconds and autobill the lender for $500. Their automated accountant will then send an ACH to my account, where my autobillpay will cover all my alleged wife's spending over the prior 30 days.

All of this will occur while I lay on a secluded Lake Tahoe beach watching WALL-E over and over, and wondering why the Donner party didn't download the weather app before their trip over the Sierras.

We all have dreams........

 

[Bobby Bucks]

I hope the borrower sues the lender, that is the only way some of this nonsense stops.

No kidding, that settlement could be massive. Those pockets are deeper than any appraiser's E & O policy. Imagine the news in the NAR & MBA publications. The E & O people would like it because it would be one more policy they can sell to the Realtor BICs.

 

[djd09]

probably happening multiple times every day....this one they just got caught....doesn't say much for the regulators...might as well give them a job on 15th st because they have the useless part overed...

 

[shrubberyvaluation]

How much does anyone want to bet that the AMC involved is one of the GSEs' famous "partners"?

Depends how much I can leverage.