Many appraisers blacklisted as a result of not complying with RELS demands
SEATTLE. March 20, 2009. In addition to the investigation that RELS has illegally rigged the appraisal process to boost their profits, the law firm of Hagens Berman Sobol Shapiro is alsoinvestigating if Wells Fargo Bank (through their appraisal management company RELS) has been pressuring independent appraisers to comply with unethical or illegal demands. Of particular importance is the tactic of blacklisting appraisers if they refuse to comply.
Many appraisers have related to the law firm that they have been blacklisted, suspended or otherwise punished for not complying with demands by Wells Fargo and RELS personnel that would result in breaking USPAP or state appraisal laws.
Since Wells Fargo/RELS controls all the appraisal assignments for homeowners, blacklisting results in substantial damage to the independent appraisers business.
Additionally, the appraiser’s name that appears on the RELS blacklist will also be blacklisted by other AMCs and lenders, since RELS shares this list with them.
Hagens Berman needs to hear your story.If you have been pressured by RELS/Wells Fargo personnel to break the laws of USPAP, state appraisal laws, or good appraisal practices please contact the law firm and tell your story. If you have even been threatened with blacklisting for not complying, or if you are currently blacklisted or suspect you are blacklisted, please contact the firm for inclusion in the investigation.
When emailing, please reference “Wells Fargo/RELS Blacklisted Appraiser”
- Contact: Genessa Stout, Attorney at Law: email@example.com
- Larry Kunzler, Investigator: firstname.lastname@example.org
Contributed by Don Pearsall