I just downloaded a fascinating PDF complaint regarding a pending lawsuit initiated by an appraiser who was removed from the approved list by a major banking institution. California appraiser J Wertz is suing Washington Mutual, eAppraiseIT, Lenders Services and others in a complaint filed in February 2008 that alleges she was removed from WaMu’s "proven" appraiser panel for indicating a “declining market” in a May 2007 report.
Here's tthe link to Working R E Magazine (online edition) where you can read the article and download the PDF:
http://www.workingre.com/workingre/appraiser-sues-for-blacklisting.html
She is demanding damages and a Jury Trial. I believe this is going to be a fascinating case to watch unfold in the California Supreme Court. To quote the plaintiff, “No appraiser should have to decide whether to keep putting food on the table or do their job correctly and not violate the law.” - Jennifer Wertz
Washington Mutual, eAppraiseIT, Lenders Services -- have been discussed again and again on
the appraisers forum: http://appraisersforum.com
Do a search there and read up on these darlings
Hi RRA,
Thank you for the heads up. I appreciate the additional information and the link.
Regards, C.
RRA - thanks for the link - I registered, bookmarked and plan to read to become more educated. Our appraisers are being put through the ringer and most are great appraisers who work hard to do a great job - a few bad apples...