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One Of Nation’s Largest Appraisal Management Companies Was Pressured By Washington Mutual To Inflate Residential Real Estate Appraisals (Long Island, NY)
Two appraisers were sued by two dozen plaintiffs over a mountain-view real estate development in McDowell County that failed when the developer went bankrupt. In the ruling, the Business Court clarified several outstanding legal issues that will benefit North Carolina appraisers in future cases.
The criticism is leveled at computerized real-estate appraisals, which depend on models that use prices from home sales and other data to determine a house's value. Because of the housing market's volatility, these appraisals are underestimating prices, some homeowners, real-estate agents and fee appraisers say.
Zillow alleges that Trulia infringes on its patented technology by offering a similar service dubbed ‘Trulia Estimates’, originally launched in 2011 in what Zillow refers to as a ‘copycat service’.
The banks and mortgage lenders are putting the screws to appraisers and forcing them to use market data that isn’t the best data to be used for accuracy but is the best data to use to monkey with the value of the property that is supported by that bank or mortgage lender’s mortgage. It’s happening so often they’ve even got a nickname for this con job: it’s called “FRAFing,” for “field review ap
(Source: FBI) - CHARLESTON, WV—A former West Virginia licensed real estate appraiser was sentenced today to one year and six months in federal prison for
Authorities have arrested about two dozen people who demonstrated inside and outside Wells Fargo's annual shareholders meeting. The demonstrators criticized the San Francisco-based company for pursuing home foreclosures, predatory lending, not paying enough taxes, and investing in private prison companies - BusinessWeek
Video Report: A Federal Reserve rule has sown confusion about the way lenders pay housing appraisers, creating new turmoil in an industry already burdened by expensive middlemen, falling home prices and diminished ranks. - American Banker
Appraisals of properties that have transmission lines are similar to other appraisal assignments, but they can be more complex. When an appraiser identifies and observes a high-voltage transmission line, it is important that he report to the client its existence and analyze any potential effects on value. This is consistent with the important role of real estate appraisers in assessing lender col
Aman Makkar the former CEO and former executive Scott Stokas of a San Diego-based company, is now trying to break through another industry: new and used cars. The recently closed down, Appraiser's Loft, left hundreds to thousands of real estate appraisers across the country unpaid. Read the news story from U-T San Diego.
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