Tagged: lawsuit

The New Con: Hybrids, Waivers & AMCs Threaten Public Trust 65

The New Con: Hybrids, Waivers & AMCs Threaten Public Trust

Hybrid Appraisals, Appraisal Waivers and Appraisal Management Companies are the new Con.  Last month marked the 7-year anniversary of Appraiser Fest. The conference was truly like nothing that had been done before. It was organized by appraisers for appraisers. The agenda was more about bringing the profession together and protecting the public trust. Appraiser Fest was not about promoting the profit of others at the expense of appraisers; nor was it about hiding the unchecked facts of fraud and ill doings against consumers. It was about public awareness and trust. It all started with a renewed sense of energy with...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

VaCAP Supports Shane Lanham's Legal Fight 28

VaCAP Supports Shane Lanham’s Legal Fight

The outcome of this case will undoubtedly have far-reaching implications for the future of the appraisal industry, making Shane Lanham’s fight one that concerns us all.  A fellow appraiser is in need of your assistance. Many of you may have heard of a Maryland Appraiser, Shane Lanham, the defendant in a lawsuit for a “low opinion of value based on the race of the homeowner.” Shane is counter suing the accuser for defamation as this has been a very publicized story. Let’s be clear, he is not just fighting for himself, he is fighting for each and every appraiser. As...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Trending / VaCAP

The Harassment Campaign Against Mom-and-Pop Appraisers 12

Stoked by HUD, Cottage Industry Shakes Down Mom-and-Pop Appraisers

The harassment campaign benefits a number of odd bedfellows: the housing lobby, which wants unfettered access to federal funds and taxpayer-backed mortgage guarantees through Freddie, Fannie and the FHA – they see appraisals as an unnecessary bottleneck. A firm called Mizrahi Kroub is the largest filer of so-called “digital Americans with Disabilities Act lawsuits.” The New York law firm files about a quarter of all such cases nationwide, according to a provider of web-accessibility services. The firm, which employs nine lawyers, has brought more than 1,100 web-accessibility cases against small businesses for missing alt-text, incorrectly formatting lists or providing unclear...

Appraisal / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac / Federal Housing Administration / FHA

The Censorship Campaign - Housing Inflation Exposed 29

Objectionable Valuations Become Hate Speech, Inflating Home Prices

The censorship, scapegoating and sidelining of appraisers has done real damage to borrowers and the purchasers of bonds…  Attacks on free speech are on the rise in the English-speaking world. A bill introduced in Canada to thwart online “anarchy and lawlessness” would create a Canadian Ministry of Truth empowered to punish authors Ottawa politicians find problematic. In response to the worst rioting in Britain in years, about 4,000 people have reportedly been jailed for online thought crimes. U.K. Prime Minister Keir Starmer has vowed to prosecute anyone his government believes is whipping up people’s emotions on the Internet. There’s even...

Appraisal / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac / Federal Housing Finance Agency / FHFA

Uncovering Flaws in FHA Appraisal & Loan Review Process 28

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 in the FHA appraisal and loan review process. After sacrificing for years to rebuild her credit and earn the right to become a homeowner, this borrower found her dream home in the country – or so she thought. During the home inspection, several issues were flagged. The seller, an investor who had purchased the home in an estate sale, was unaware of the septic system’s location. The seller agreed to have the tanks pumped so the location could be determined....

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / CFPB

Alleged Racial Discrimination Debunked: Security Bars Removal Required by Law 15

Security Bars Removal Law Debunks Alleged Racial Discrimination

Complainant stated appraiser told them they should remove security bars from windows. Complainant stated this is evidence of “racist discrimination”… Security bars on bedroom windows is against code…  This morning I received the results of a California State Information Act Request I made regarding an alleged case of racial bias in Allendale, Oakland, California which was settled May 2024. I requested any and all documents in the case involving the appraiser because I didn’t have the complainant’s name or property address. I only had the appraiser’s name which I won’t post in text. Complainant stated appraiser told them they should...

Appraisal / Appraisal News / Appraisers News

Gov't-Indulged Middlemen Are Wrong RX for Battered Borrowers, The Infirm 14

Gov’t-Indulged Middlemen Are Wrong RX for Battered Borrowers, The Infirm

The U.S. government impoverishes homebuyers as it does the chronically ill – by promoting the use of middlemen who prey upon them. A cadre of such middlemen was created decades ago as a firewall between Big Pharma, the insurance companies and the pharmacy chains. Called “pharmacy benefit managers,” they were to negotiate drug prices, streamline distribution and manage lists of prescription drugs covered by insurance plans. But since the government has gone whole-hog into health care under the Affordable Care Act and into drug-price controls under the Inflation Reduction Act, things have gotten crazy at the slop trough. Today, according...

AMC / Appraisal / Appraisal Institute / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Federal Officials Team up with Freddie, Fannie to Deceive Investors | The Censorship of Appraisers 34

The Censorship of Appraisers

Thirty-seven hours after President Biden took the oath of office, White House officials met with executives at social media companies. The officials threatened restraint-of-trade lawsuits and regulatory action if the companies failed to censor what the White House deemed “misinformation.” In a parallel development, we can now connect the dots that similar talks occurred among White House officials, employees of government-sponsored mortgage giants Fannie Mae and Freddie Mac and private vendors to throttle the protected speech of individuals and firms in the mortgage industry engaged specifically for their independence. The latter serve as bulwarks in federally backed mortgage transactions. In...

Appraisal / Appraisal News / Appraisers News / Fannie Mae - Freddie Mac / Federal Housing Finance Agency / FHFA

Shane Lanham Countersuing Black Homeowners for Defamation 28

Shane Lanham Countersuing Black Homeowners for Defamation

Shane Lanham, a Maryland appraiser, has found himself in a difficult situation as he is being sued in The United States District Court of Maryland. However, he is not backing down and fully intends to fight these allegations through trial. In addition, he is countersuing the accusers for defamation and seeking $500,000 in damages. Lanham firmly believes that the accusations of racism against him are baseless and he has engaged a consultant with significant experience in handling such cases. To ensure he has the best chance of success, Mr. Lanham has engaged a consultant with extensive experience in similar cases....

Appraisal / Appraisal News / Appraisers News / E&O / Errors & Omissions / Trending

Foreclosures in Black Communities Due to Overvaluation 13

Foreclosures in Black Communities Due to Overvaluation

What were the results? Most had foreclosures. They bought a house worth much less than they paid for it and never planned or budgeted to make a mortgage payment in the first place.  About 2 years before the crash of ‘08, I ran across a company out of DC called “Metro Grapevine” and “Metro Dream Homes.” It was a Ponzi scheme marketed by a black to blacks only. It was by invitation only. They promised if you bought your home through their program, they’d pay it off in seven years and you never had to make a payment. The requirement...

Appraisal / Appraisal News / Appraisers News

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