Update from Shane Lanham

[Non Sequitur]

I applaud Shane for fighting. However nothing came of this. It’s similar to that lawsuit with Coester. While good nothing came of it after. Nothing changed. So again tell me how this will change things? It doesn’t and it won’t. It’s just nice to see that this appraiser can move on with his life.

The change is an appraiser accused of bias has a road map to defend him/herself and one of the leading critics of our industry has been discredited in a court of law. The Coester lawsuit wasn't a win for the industry because we really don't need case law for an email hack. See the difference?

 

[djd09]

they think we are using code words to signal lenders...now that a grand conspiracy

 

[J Grant]

Hostile questions? Seriously. lol. You a bit tender? You are telling all of us that others out there should review the reports, examine things yet you yourself don’t have access to them. Point proven on my side.

You did not understand what I said. I said the entities (Fannie and Freddie and the appraisal organizations) could have reviewed the reports. They had probable access to them. What in the world makes you think that any other appraisers had access to these reports to review them>or that anyone would pay attention if they did - they would pay attention to the appraisal subcommittee, or Fannie or Freddie, if they ordered reviews or performed them on both sets of appraisals. They could have at least recommended it. And they easily could have explained how market value is derived and lenders ordering vs private parties ordering.

 

[djd09]

what case law...

 

[J Grant]

IDK if the howmeoners saw a dime in this suit. But if they did not collect $, it would discourage other parties from filing suits simply to get $. A tiny percentage of people did it, but they caused a lot of problems.

 

[Junkyard Dog]

Something did come of it. There was no ruling in favor of the parties that bought the suit receiving damages and his report was not found deficient or biased ( as far as I can tell )

Lenders paid up and settled the other cases - the appraisers did not fight to avoid the stress and $ ( understandable, but still), and lenders want to avoid bad publicity even if they know there was nothing wrong with the appraisals and bias was not an issue.

If that’s what you are taking away from this then good for you. This is not a win or loss and it’s a big ole nothing. Go tell that to shame who lost a **** ton of money. “ hey great job. Sucks it didn’t work out but hey the lenders paid, AMCs did and well you were not found guilty”. Really? Seriously get a clue.

 

[Junkyard Dog]

The change is an appraiser accused of bias has a road map to defend him/herself and one of the leading critics of our industry has been discredited in a court of law. The Coester lawsuit wasn't a win for the industry because we really don't need case law for an email hack. See the difference?

Got it. But this dismissal does nothing going forward even with case law.

 

[ucbruin]

The change is an appraiser accused of bias has a road map to defend him/herself and one of the leading critics of our industry has been discredited in a court of law. The Coester lawsuit wasn't a win for the industry because we really don't need case law for an email hack. See the difference?

What's the road map....
And do you think every appraiser gofundme page will perform as well as Shane's did....

 

[Junkyard Dog]

What's the road map....
And do you think every appraiser gofundme page will perform as well as Shane's

1) this was the first GO FUND ME of its kind. People get so caught up in it and well they donate etc. no one knows where the money goes. his may be the best one ever and well we will see.
2) roadmap? I’m not a futuristic person
3) there needs to be an organization for this and it’s not AI
4) do your research.

 

[Non Sequitur]

Got it. But this dismissal does nothing going forward even with case law.

I disagree. The opinion is published.