One case that cannot be ignored on something called the Appraiser Law Blog is Gibson, et al. v. Credit Suisse, Cushman & Wakefield, et al. Even though the plaintiffs’ claims in my view just amount to buyer’s remorse following a deflated real estate price bubble, the case needs to be Read more…
The FDIC continues to sue residential appraisers in connection with origination appraisals and review appraisals performed for failed lenders between 2003-2009 on loans now in default. It may be helpful, or scary, for appraisers and AMCs to see for themselves exactly what kinds of alleged USPAP violations or other errors Read more…
The FDIC has joined the fray of mortgage backed securities (MBS) litigation as a plaintiff. In one of several MBS-related legal actions, the FDIC recently sued Countrywide Financial and Bank of America in connection with poorly performing MBS held by failed Security Savings Bank. The FDIC filed this particular lawsuit Read more…