Beverly Bayer's Blog - Archives May, 2011

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Home : Blogs : Beverly Bayer : Beverly Bayer's Blog : Archives May, 2011

FDIC lawsuit against Appraisal Management Companies - 05/13/11 07:36 PM

FDIC is going after Appraisal Management Coupanies for Appraisal Deficiencies - mostly work from the height of the market.
List of some problems found:
1) inadequate analysis of a purchase contract, or failure to report prior listings.
2) Failure to report prior sales within 3-year of the subject property
3) use of improper comps or avoiding better comps
4) applying improper or inconsistent adjustments to comparables
5) omits or misrepresnets significant physical or locational characteristics of the propety
6) Appraiser reported "stable" prices when prices were declining.

75% of the appraisals reviewed - provided - were found to contain multiple … (3 comments)

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Beverly Bayer

Moreno Valley, CA

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