Seward Real Estate Service Blog, Indianapolis, IN

Seward Real Estate Blog

WAMU Blacklisting

September 12th, 2008 11:01 PM

The Fat Lady Has Sung! The Wertz - WAMU "Blacklisting" Case is OVER!

Matched_pair

Perhaps you remember the headlines?

California Appraiser Sues WAMU, First American, eAppraiseIT, and LSI - Refused to check "Stable"

It was about Jeniffer Wertz, a California licensed real estate appraiser, who filed a 12 count lawsuit against Washington Mutual Bank, First American Corp., eAppraiseIT, Lenders Services (LSI), FNIS, Inc, and Susan Richter.

Appraisal Scoop has learned from Jeniffer Wertz that . . .

"The case has been settled to mutual satisfaction of the parties."

As is usually the case in these instances, that's about ALL that any of the parties can say. I'm guessing that the amount of settlement and the terms of the agreement will be sealed by the court. Still, I view this as victory for the "little guy" (or girl) and offer my kudos to Jeniffer for standing up for ALL of us!

I've abstrated and edited portions of the original lawsuit for ease of reading on this blog. The complete, un-edited document, can be downloaded here: Download WertzPrimarySuit.pdf

Related News Stories:

1/17/08: Money Magazine: WaMu Accused Of Appraisal Fraud
1/22/08: WaMu Continues To Take Its Lumps on Appraisal Practices

Author: Brian J. Davis - Brian Davis & Associates - Brian has over 24 years of appraisal experience in Central, IL and hosts the Appraisal Scoop blog and the WinTOTAL Users Group an email forum for appraisers

• Email to a friend • Article Search • Related •

•

Rate 'The Fat Lady Has Sung! The Wertz - WAMU "Blacklisting" Case is OVER!'

Posted by William Seward on September 12th, 2008 11:01 PMPost a Comment (0)

Subscribe to this blog

An End to "Proir-to-Funding Conditions"

September 5th, 2008 7:31 AM

Doesn't it seem like the lending underwriter is always out to get you?

At Seward Real Estate Services, we understand that sentiment and continually strive to produce appraisal reports that are not only 100% USPAP compliant, but that are also review-proof! We understand what the lender is looking for and we make sure to cater to them, so that you don't have to!

The foundation of our research is based on fourteen years of appraising experience and twenty-five years of housing market experience. With this background, we begin to compile the data for each individual report, carefully pouring over all relevant information in order to produce a list of the most comparable sales in the neighborhood.

We generally put a few extra comps into each report to ensure that the subject property is as adequately bracketed as possible. We make sure to bracket all aspects of the house from size, to year-built to number of bedrooms.

Once the report has been compiled, each and every report is reviewed to make certain that all the i's are dotted and that all the t's are crossed. That way, when you send the report to the underwriter, you have a greater chance of pushing it through without any "prior to funding conditions

Posted by William Seward on September 5th, 2008 7:31 AMPost a Comment (0)

Subscribe to this blog