Following the recent Appraisal Scoop post from Pipeline Press titled Are YOU an "Ineligible Receiver"? CitiMortgage Monitors "Ineligible Appraisers" List I received the following email and have reprinted it below, with the Appraiser's permission.
I thought his story was somewhat unique in that it was the first time that I'd heard of an appraiser being blacklisted for completing a market update of another appraiser's appraisal. Take a look at this story and please share your thoughts!
"I am a certified residential appraiser and have been appraising for the last 12 years successfully. A year ago I received a letter from CitiMortgage saying I was being blacklisted by them for a market update (1004 D) I was asked to do for them by PCV Murcor although the appraisal was done by another appraiser.
I [completed] the 1004D as requested and found the market conditions still stable. CitiMortgage apparently had a problem with the underlying appraisal done by another appraiser and is blaming me, as the address of the property [format] in his appraisal is the same as in the letter they sent me.
I wrote a letter to Gary Schlittler, their VP in charge of appraisals, and he said they were modifying the "punishment" by putting my name on the monitor section of the list (requires a field review) with any appraisal submitted to them by me. This has hurt my business not only from the lack of CitiMortgage business but they have also shared the information with other AMC's who will not place orders to me for their clients as their clients may be taking the loans to Citi.
I searched your site for a half hour, but I couldn't locate any information or instructions on how to actually fight this arrogant practice. I had requested they send me the actual file on what was reviewed when they made their decision to blacklist me, but they are ignoring me. Do you have any articles or material that gives instructions or strategies on how to get your name removed from a blacklist? Thank you for any information you can provide."
There has been a comment from the "Ineligible Receiver" post regarding a source for a potential class action lawsuit:
Here is a law firm taking on with Wells Fargo
When emailing, please reference “Wells Fargo/RELS Blacklisted Appraiser”
•Contact: Genessa Stout, Attorney at Law: genessa@hbsslaw.com
•Larry Kunzler, Investigator: larry@hbsslaw.com
Also . . . for those that are interested in reading MORE about Black Listing, please click the Appraisal Scoop category [Blacklisting / Exclusion Lists] in our navigation on the left.
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