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Posted Date: Monday, April 15, 2024
A Black couple who claimed mortgage lender loanDepot denied a refinancing of their mortgage because it relied upon a racially biased, considerably low appraisal of their Baltimore home, recently agreed to a legal settlement.
The lender vows to change how it handles complaints of racially biased appraisals.
Read on for the details surrounding this case.
Appraiser News, Legal News
Posted Date: Monday, April 8, 2024
Valuation Review concludes its interview with Joseph Cioffi, an attorney with the New York-based firm of Davis+Gilbert, LLP.
In Part II of our feature, Cioffi addressed pre-existing programs that could be used for residential conversions.
Read on for the conclusion of this story.
Commercial Corner, Legal News
Posted Date: Wednesday, April 3, 2024
Valuation Review sat down with Joseph Cioffi, an attorney with the New York-based firm of Davis+Gilbert, LLP.
Cioffi addressed how adverse market conditions and lower valuations open the door to legal risks.
Read Part I of this exclusive feature.
Appraiser News, Legal News
Posted Date: Wednesday, February 21, 2024
The New Jersey Legislature proposed a bill requiring the State Real Estate Appraiser Board to adopt alternative programs for appraisers, including experiential requirements for prospective real estate appraisers attempting to qualify for licensure or certification.
Valuation Review spoke with the Appraisal Institute’s State & Industry Affairs Manager Scott DiBiasio for his insight and clarification on this particular piece of legislation.
Read on to find out more.
Appraiser News, Legal News
Posted Date: Wednesday, February 14, 2024
Valuation Review spoke with Joseph Englert, attorney/partner at McGuireWoods, LLP and Emma Leonelli, associate at McGuireWoods, who frequently represent insurance policyholders in complex insurance coverage disputes, including those when an appraisal provision is invoked.
They work closely with the party-appointed appraiser to provide an objective and defensible loss assessment.
Read on to learn more from Englert and Leonelli.
Appraiser News, Legal News
Posted Date: Monday, February 5, 2024
The Alabama Supreme Court recently dismissed an appeal by Great American Insurance Co. that sought to overturn a trial court’s order denying its motion to compel an appraisal in a dispute over hurricane damage to a beachfront condominium complex.
The insurer argued that its motion was subject to the Federal Arbitration Act because an appraisal is akin to arbitration, which means it can appeal the Baldwin County Circuit Court’s decision to deny it.
Read on for more details surrounding this case.
Appraiser News, Legal News
Posted Date: Wednesday, January 17, 2024
The Indiana Legislature introduced a bill that would address appraisal discrimination.
The bill would add to the duties of the homeowner protection unit of the Office of the Attorney General.
Read on to learn more about this proposed legislation.
Appraiser News, Legal News
Posted Date: Wednesday, January 10, 2024
An internet provider leased a utility duct from Norfolk Southern Railway Co.
When it came time to renew the lease, the provider and Norfolk Southern could not agree to the renewal rent, resulting in a dispute and a lawsuit.
Read on for more information concerning this case.
Commercial Corner, Legal News
Posted Date: Monday, January 8, 2024
A Washington state legislator plans to file a bill giving consumers the right to invoke an independent appraisal when there’s a disagreement about costs to repair a vehicle.
The bill, if passed, would allow the consumer to make a written demand for a third-party appraiser.
Read on for more details.
Appraiser News, Legal News
Posted Date: Friday, December 22, 2023
The New Jersey Senate approved a bill regarding house appraisals.
Legislation supporters say the bill would help historically disadvantaged residents move up through economic ranks in a state with one of the nation’s largest racial wealth gaps.
Read on for more details.
Appraiser News, Legal News