A Florida Bankruptcy court said Chase was not liable for appraisal fees not paid by Evaluation Solutions, which is in bankruptcy.
There has been a lot of online discussion about this. I don’t understand the legal issues.
Fortunately, Scot DiBiasio of the Appraisal Institute posted a succinct comment on the Appraisal Buzz email forum. Here is his revised version – succinct and easy to understand.
“This decision is from one Judge in a single U.S. Bankruptcy Court District – the Middle District of Florida. Another Judge in the same, or different, Court could very easily rule a different way on a different case. And, it remains to be seen whether or not the valuation companies that objected to the Settlement Agreement in this case will appeal to the U.S. District Court or to a Bankruptcy Appellate Panel, where the outcome could change.”
Here’s a link to the recent WorkingRE article on the topic:
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The chase is not liable for amc appraisal fees than who is, nice comment by the scot.
Yeah i agree this all about the mortgage and they are responsible for this.
Scot’s comment may be succinct and is simple for sure, but it begs the question how the AI can stand by and do nothing to assist the victims. Maybe it is entertaining to watch the wheels of justice roll over right and wrong.
C’mon AI, sue Chase and boycott it at the same time. Help these mortgage guys out. Chase needs to be seriously sanctioned and the AI wants to be the leader. Get going, perfect opportunity, but you might get your skirts a little dirty and some of your designated members who work for Chase may complain. The industry needs you, it needs all of us.