TAF paid over 500K to the Law Firm trying to destroy Shane Lanham

[Elliott]

Posts 1, 2, and 3 are evidence that the law firm was paid by TAF. They don't provide any information regarding what services the law firm provided to TAF. Maybe I wasn't clear. The law firm's job is to represent their Client's interests. We do not know what TAF was paying for. Is TAF one of the plaintiffs in the law suit?

So, why did TAF pay a half million to Relman Colfax? Have they ever told us? Interesting they recently changed the bylaws on selecting directors and got behind PAVE and DEI.

Maybe I'm just paranoid, but appraisers have been steam rolled the last couple of years with the Lanthram and Marin City lawsuits. Burton was making an obscene amount. I think appraisers have been set up like a piñata. Eleven million in assets and the DC crowd decided to pick it clean.

 

[Fernando]

The 1004MC in his report sure didn't do him any favors. It showed an increasing market while he chose stable in the report. His opinion of value is approximately 14% below the lowest median sale in the MC (out of 30 something sales).

Then he used some boilerplate commentary stating the MC data was not to be relied upon... without stating how he concluded the market was stable.

I don't think the dude is racist....it's just a poorly supported report.

I usually give less thought to 1004MC since lenders don't really look at the form (never been called out).
However when there's a lawsuit, I see how 1004MC can be used against an appraiser. Good thing I have some support (give me stats and I can spin it) and consistency to my main report.

 

[Surf Cat]

I usually give less thought to 1004MC since lenders don't really look at the form (never been called out).
However when there's a lawsuit, I see how 1004MC can be used against an appraiser. Good thing I have some support (give me stats and I can spin it) and consistency to my main report.

Fernando! Bro....someone who finally gets it.

You can't just haphazardly "throw" some sales in the MC that are not competitive to the subject because "lenders don't really look at it".

If I was a lawyer, I'd be all over the appraiser like a cheap suit regarding the price difference between the MC and sales within the grid.

To reiterate, I don't think this guy approached this assignment in a biased manner. I wish him success.

 

[Surf Cat]

but what about the median list price...

The median list prices within the MC is even higher than the closed median sales....it makes it even look worse....

 

[djd09]

The median list prices within the MC is even higher than the closed median sales....it makes it even look worse....

are you trying to convince me that the MC has meaning... and what would you value the property?

 

[Fernando]

If the OP would have gone back in time and derived a % of the difference from the actual sales that transpired on the subject's busy street to the sales not on the busy street in the immediate neighborhood and reported those findings within the appraisal....(and retained the evidence within the workfile) this 2% "industry standard" nonsense wouldn't be an issue.

I never heard of 2% industry standard. Statistically speaking 2% is not a significant statistical adjustment especially for a busy street. For busy street, I have to have more than 3%.

 

[djd09]

where is that second appraisal...that is what the whole case is based on...the difference in value...and without transparency public trust will die in darkness

 

[Fernando]

where is that second appraisal...that is what the whole case is based on...the difference in value...and without transparency public trust will die in darkness

That's why I was wondering what is the status of the lawsuit. It's been almost a year and half since filing of lawsuit.
Why hasn't Shane's attorneys demanded to see the 2nd appraisal. It can clear up the discrepancies with the different values.
Or exposes how licensing hasn't met its purpose in stopping incorrect appraisal values out to the public. TAF has failed in what it intended.

Before licensing, lenders used appraisers they feel were competent.
TAF now allows anyone who is licensed to be called an appraiser even if incompetent (Lenders assumes appraiser believes he/she is competent) and Lenders can accept their appraisals.
If an appraiser selectively chooses comps with racism in mind, that's incompetency.

 

[Surf Cat]

where is that second appraisal...that is what the whole case is based on...the difference in value...and without transparency public trust will die in darkness

I want to see ALL the appraisals in ALL these whitewashed accusations.

Frigging scumbags oink oink oink...

 

[sputnam]

TAF is just paying the law firm that is suing the appraiser a mere $570, 031...delusional

So... the law firm is only allowed to have one Client? TAF knew that the law firm had been retained by the plaintiffs in the suit against Shane Lanham? TAF knew before they paid that law firm for whatever services were provided? All that we know, from the posted information, is that TAF paid that firm for legal services. If you want to argue that the law firm should have declined to represent the plaintiffs because of a conflict of interest then... maybe. I don't know the details of the work done for the TAF or the circumstances of coming to represent the plaintiffs in the suit... and neither do you.