In the two weeks leading up to Thanksgiving Day, the FDIC sued 29 individual residential appraisers and a rafter of mortgage brokers in 12 separate lawsuits. All of the appraisers sued in this round reside in California — in the last three years, the FDIC has so far sued a Read more…
In an opinion published today concerning the 2007 lawsuit filed by then Attorney General Cuomo against First American Corporation and its former appraisal management company eAppraiseIT, New York state’s highest court — its Court of Appeals — has ruled that the trial court properly denied eAppraiseIT’s motion to dismiss. In Read more…
Caption of 11-14-11 Order In a November 14 ruling in the FDIC’s lawsuit against CoreLogic and its various subsidiaries, Judge Carter dismissed the FDIC’s gross negligence claim (with leave for the FDIC to amend) based on the economic loss rule for the same reasons he previously dismissed the FDIC’s similar Read more…
(Update — Judge Carter granted, in part, CoreLogic’s similar motion to dismiss on 11/14/11. See post here.) As reported in prior posts, the FDIC, as receiver for failed lender Washington Mutual, sued appraisal management company LSI Appraisal and its corporate parent Lender Processing Services for breach of contract and gross Read more…