Flagstar Bank recently appealed two cases to the Ohio Supreme Court that Flagstar lost against appraisers at the trial court level based on Ohio’s statute of limitations. Under Ohio law, the statute of limitations for most professional liability actions like those against appraisers is four years from — basically — Read more…
Note: this post has been updated since it first appeared. Appraiser E&O policies are changing rapidly in the present litigation environment and an appraiser’s policy terms may change from policy year to year. This may be the first year that some appraisers see an FDIC exclusion in the policies they Read more…
We are often posed these questions by appraisers at our loss prevention CE seminars: will the FDIC sue an appraiser who “only” signed an appraisal report as a supervisor? Will the FDIC sue a trainee or former trainee? Will the FDIC sue a review appraiser? These are easy questions to Read more…