BofA - Appraisers Blogs

Class Action Against LandSafe Settled

Peter Christensen — Mon, 24 Feb 2020 13:30:40 +0000

…alleged that the lenders conspired with LandSafe to inflate appraisals to increase the size of mortgage loans sold on the secondary mortgage market… Believe it or not, cases are still being litigated in relation to events during the mortgage meltdown years. After nearly seven years of litigation, a settlement (subject to court approval) has been reached in the borrower class action filed in 2013 regarding appraisals managed by defendant LandSafe Appraisal Services between January 1, 2003 and December 31, 2008. The other defendants in the suit include Countrywide Home Loans and Bank of America and various affiliates. The central premise...

Uncovering Flaws in FHA Appraisal & Loan Review Process The story of this single mother's harrowing experience with a defective home purchase and HUD's negligent oversight exposes deep flaws…
Fastapp AMC Alleged Violations of AIR The following court documents in the case Naftali Horowitz v. [xxx], Fastapp AMC founder v. Fastapp AMC president, confirm what…
Fannie Mae Filed a Complaint Against Me An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a…

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Appraisers Landmark $36M Settlement with BofA

Isaac Peck — Thu, 03 Sep 2015 12:30:34 +0000

Editor’s Note: Besides being a bit of good news, this ruling could have implications for all appraisers working for AMCs. Appraisers Landmark $36 million Settlement with Bank of America for Failure to Pay Overtime Settlement Covers 365 Plaintiffs Who Served as Residential Real Estate Appraisers Oakland, CA – Today, employment and civil rights attorney Bryan Schwartz announced a settlement between Landsafe Appraisal Services, Inc., a subsidiary of Bank of America (NYSE: BAC) and 365 current and former employees working as residential real estate staff appraisers. The plaintiffs had sought damages for their misclassification as exempt from overtime, which left them...

Top DEI Bosses Have a Problem - Diversity The ranks of the new DEI bosses at the financial institutions are no more diverse than the appraisers their institutions…
First the Borrower Fee. Now the Appraiser… Two lawsuits place Class Valuation’s fee transparency and staff-appraiser compensation practices under federal scrutiny. Most appraisal disputes examine only one…
The Great Debate on Appraisal Fees She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee…

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Bank of America Appraisals Reviewed in India

AppraisersBlogs — Tue, 16 Jul 2013 12:30:41 +0000

Bank of America Reportedly Sending Property Reviews to India Bank of America reportedly opened a unit in India to review valuation reports in an effort to boost its share of the U.S. mortgage market at a lower cost, Bloomberg reported June 28. Workers in the new Bangalore office use checklists to decide if appraisals are complete, according to people who talked to Bloomberg on the condition of anonymity. Bank of America also eliminated positions at its Plano, Texas-based LandSafe appraisal division, which made $78.8 billion in loans in 2012. “One of the biggest problems in the mortgage business is all...

The Illogical Reality of Mortgage Appraisal Reviews Reforming the appraisal review process is essential to maintaining the integrity of the real estate market and protecting consumers and…
Is the GSE's "Appraisal Modernization" Really Just… Mass Appraisal tend to exhibit a regressive nature... In the intricate landscape of real estate mortgage financing, the notion of…
The New & Improved Fannie Mae “FRAUDULATOR 2.0” Originally known as Fannie Mae’s Collateral Underwriter (CU), and subsequently Collateral Underwriter 2.0 (CU-2)i this always dubious product of Fannie…

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BofA - Appraisers Blogs

Class Action Against LandSafe Settled

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Appraisers Landmark $36M Settlement with BofA

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Bank of America Appraisals Reviewed in India

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