black couple sues appraisal company for low appraisal on home

[LuckyDuck]

Every 6 months, the county sends mails property owners a change of value appraisal of their property. Whatever value that card says the tax value of the property is worth, is what the tax value of their property is. Whatever improvements owners have made is not factored in and thus the Real Estate companies make their value decision based upon their independent review of the property on inspection. There can be various conditions that would lower the value of a property that adjacent properties may not have.

 

[AMart]

The denying, then excusing, then approving systematic racism is all MAGA-right.

The denying then excusing then approving systematic racism is all leftist produced. You need to ceases to exist. Hopefully that happens today.

 

[Ray From Cleveland]

You're right, because your stories are all over the place. Truck driver, slum lord, policeman, firefighter, pimp, just all around hustler.

The only two that you got correct is landlord and truck driver. But since you're a born liar, I defy you to quote me saying I did anything else on your liars list.

If they have the money to call someone else to do the work, what is the problem?

Not a problem at all, especially for me. I can charge almost anything I want for rent because of too little supply and too much demand. It's not a complaint by any stretch of the imagination. I love being the guy people call for a problem.

So you come from a long generation of slum lords, what's your point?

To point out I'm no rookie at this and have vast knowledge of my investment.

So how is it when the folks are black the appraisal is low, but when the folks are white the appraisal is 300k higher than when they thought the family was black. Same house, this was racism pure and simple and you know it. Just be man enough to keep it 100.

They applied at two different banks, not the same one. Had they used the same bank and same appraisal company then you'd have a point. But they called two different banks and had two entirely different appraisals. So your racist claim is not supported by any facts. I hope this lawsuit costs them hundreds of thousands of dollars when they lose.

 

[Riff Raff]

The denying, then excusing, then approving systematic racism is all MAGA-right.

Systemic racism exists in negro entitlement laws, Democratic Party politics and Left-leaning media.

 

[Superbadbrutha]

The only two that you got correct is landlord and truck driver. But since you're a born liar, I defy you to quote me saying I did anything else on your liars list.

So a slum lord and a truck driver. Ok.

Not a problem at all, especially for me. I can charge almost anything I want for rent because of too little supply and too much demand. It's not a complaint by any stretch of the imagination. I love being the guy people call for a problem.

That's what is sad, folks always call the slum lord because his spot is a dump unfortunately it's the cheapest.

To point out I'm no rookie at this and have vast knowledge of my investment.

Doesn't sound like it.

They applied at two different banks, not the same one. Had they used the same bank and same appraisal company then you'd have a point. But they called two different banks and had two entirely different appraisals. So your racist claim is not supported by any facts. I hope this lawsuit costs them hundreds of thousands of dollars when they lose.

I wouldn't give a damn if it was 4 different banks, I have had properties appraised by multiple banks and NEVER has there been a difference of 300K dollars. As usual because the folks are black you are in denial.

 

[Ray From Cleveland]

So a slum lord and a truck driver. Ok.

It's not a slum, my properties are upkept to city code. We have no choice. Every time a landlord rents to a new tenant in my suburb, it has to undergo a strict safety and maintenance inspection by the city: the apartment, the basement, the garage, the hallways, all grounds where tenants have access to.

Yes, it's true the blacks destroyed the suburb as they do anyplace they move, but that doesn't make my property a slum because the blacks are ruining it.

That's what is sad, folks always call the slum lord because his spot is a dump unfortunately it's the cheapest.

All my tenants are employed. I don't take section 8 applicants to keep people like you out.

I wouldn't give a damn if it was 4 different banks, I have had properties appraised by multiple banks and NEVER has there been a difference of 300K dollars. As usual because the folks are black you are in denial.

I know you don't give a damn. It's like if you went to buy a new car and they quoted you $27,000 and I went out to a different dealership and they offered me the same car for $25,000. It has nothing to do with race. They just have different prices.

You have yet to show a motive for the first company giving such a low estimate. No, a company would not chance a lawsuit because they didn't like blacks. We will probably never know the end of this matter since it's such a non-story. But this couple has no grounds to claim race had anything to do with it just because a completely different appraisal company had a different quote.

 

[JoeB131]

Hate to break it to you but that’s exactly what loandepot did at least from what we know from the story as told by the plaintiffs in this case. They processed their loan referred it to the outside company that manages their appraisals, got the report from said company and made their decision based off of that. What you’re asking for is a special process for black people. Though I’m not really sure how they are supposed to know which applicants are what race.

What? Youre a moron

The whole point of an appraisal management company is so the lender has zero interaction with the appraiser. Loandepot probably never even knew this guys name or the company he owns.
They certainly wouldn’t have had any input on who was being hired to do the appraisal as that would be ILLEGAL.

if they are smart they will fight this and win lest they invite other ridiculous lawsuits of this nature. These peoples gripe is with the appraiser not the lender.

Here's the thing. In my Day Job, I am in purchasing. That means I am responsible for the quality of work produced by my subcontractors and vendors.

It means that I have to vet them to prove they are doing quality work, and their work meets standards.

This guy's work didn't meet a standard, according to US law that prevents exactly this kind of housing and loan discrimination.

 

[Couchpotato]

Here's the thing. In my Day Job, I am in purchasing. That means I am responsible for the quality of work produced by my subcontractors and vendors.

Im willing to bet you arent constrained in your contact with your contractors like lenders are when dealing with appraisers. But in this case the distance between the lender and appraiser is even further. They hired a company to manage their appraisals, it's seen as a best practice by Freddie Mac the governing body. There's no way for loandepot to do what you want them to do. They dont know the race of their applicant and they have no correspondence or even know who is doing the appraisal. The reports they get from the AMC would look the same (in format) regardless of who does them. They dont have a list of their AMC's appraisers, that's the job of the AMC.

It means that I have to vet them to prove they are doing quality work, and their work meets standards.

Im sure the AMC was vetted.

This guy's work didn't meet a standard, according to US law that prevents exactly this kind of housing and loan discrimination.

Can you give me an example prior to this incident which would have allowed either LoanDepot or their AMC to have ANY indication that he might treat a black couple differently than anyone else? You keep ignoring this and I assume it's because you cant.


The one and only reason LoanDepot is being sued is their pocket depth.

 

[JoeB131]

Can you give me an example prior to this incident which would have allowed either LoanDepot or their AMC to have ANY indication that he might treat a black couple differently than anyone else? You keep ignoring this and I assume it's because you cant.

I don't have to.

Just like I don't have to prove you committed six other ax murders when you are standing over a victim with a bloody ax.

they hired this guy. They have liability under the fair lending act.

 

[Couchpotato]

I don't have to.

Just like I don't have to prove you committed six other ax murders when you are standing over a victim with a bloody ax.

they hired this guy. They have liability under the fair lending act.

If you want to prove some type of negligence on Loandepots part you do.

 

[Couchpotato]

I don't have to.

Just like I don't have to prove you committed six other ax murders when you are standing over a victim with a bloody ax.

they hired this guy. They have liability under the fair lending act.

You would also have to prove that they knew who their AMCs appraisers were, had some influence over who was assigned to which cases and somehow knew the race of this couple.

The only way Loandepot loses this case is if they settle

 

[Leo123]

You would also have to prove that they knew who their AMCs appraisers were, had some influence over who was assigned to which cases and somehow knew the race of this couple.

The only way Loandepot loses this case is if they settle

Thanks, Joe's ignorance is epic.

 

[Couchpotato]

Thanks, Joe's ignorance is epic.

You see what you want to see.

 

[Leo123]

You see what you want to see.

Yes, racists see racism everywhere. Reality has little to do with their thinking. The see everything through the lens of race.

 

[mudwhistle]

Sounds like they have a pretty good case.


Do you actually read the articles before you present them? I will show you the key passage.

Connolly and Mott later re-applied with another lender, and “whitewashed” their home, according to the lawsuit. This included removing photos of their Black family from the home, and having a White colleague present the property to the appraiser. The suit claims this valuation came back at $750,000, more than a quarter of a million dollars higher than 20/20 Valuations’ appraisal of $472,000.

My wife used to be a realtor....nobody wants to buy a home that black people lived in.

Especially since the Democrats created BLM.

Course my nephew's black...and he brought his black girl friend home and she couldn't eat because she can't stand White People. The thought of being in a home with a White person just turned her stomach.

If I want to get anything for my house when I sell it I can't advertise that my wife is black and actually lived in the house.

People are just racists.

 

[Couchpotato]

My wife used to be a realtor....nobody wants to buy a home that black people lived in.

Especially since the Democrats created BLM.

Course my nephew's black...and he brought his black girl friend home and she couldn't eat because she can't stand White People. The thought of being in a home with a White person just turned her stomach.

If I want to get anything for my house when I sell it I can't advertise that my wife is black and actually lived in the house.

People are just racists.

I dont know what world you people live in but Im glad I dont reside there.

 

[mudwhistle]

I dont know what world you people live in but Im glad I dont reside there.

I guess the world you're trying to ignore.
This is what you experience when you marry a person of color.
Blacks are usually racist as hell....and they feel they have a right to be.

 

[Couchpotato]

I guess the world you're trying to ignore.
This is what you experience when you marry a person of color.
Blacks are usually racist as hell....and they feel they have a right to be.

I've lived with and around "people of color" my whole life. That's not my experience nor anything like the experience they have relayed to me.

 

[Ray From Cleveland]

I've lived with and around "people of color" my whole life. That's not my experience nor anything like the experience they have relayed to me.

Years ago I got a police scanner back in the first cordless phone days. Looking at the frequency codes, I found that I could tap into the base units of peoples phones. This is around the time when blacks started taking over the neighborhood.

I was amazed at the hatred by blacks against whites. I'd hear two black people talking about how much they hated us. One of the callers said they were invited to a party by a white coworker. She never attended and stated she had to put on a show at work like she really liked the white coworker.

Don't think for a minute the way you are treated by blacks means they actually like you.

 

[JoeB131]

If you want to prove some type of negligence on Loandepots part you do.

Nope. Loan Depot is well and screwed. Get this in front of a jury, they won't need a lawyer, they'll need a priest.

You would also have to prove that they knew who their AMCs appraisers were, had some influence over who was assigned to which cases and somehow knew the race of this couple.

The only way Loandepot loses this case is if they settle

"We had no idea our appraiser we've used for years is a racist!" Yeah, that ain't gonna fly.

They should have realized something was wrong when they read the appraisal.