Important Alert for FREA Appraiser Members
If you receive a call from someone involved with the AMC litigation between the FDIC and LSI or CoreLogic, and they ask you to agree to be a witness in either case, you must call FREA, as your E&O provider, immediately. If you don't and you offer any testimony by making a written statement, by sitting for a deposition, or simply by agreeing to a telephone interview, you could end up getting sued.
It's too complicated to explain the how and why here, but rest assured you are taking on risk you cannot see.
There are ways to cooperate, including getting qualified and paid as an expert witness instead of testifying for free, but before you agree to "help", you must get a signed release so anything you say cannot end up being used against you later in a civil lawsuit.
As a FREA member, you benefit with the guidance of FREA counsel. If you receive one of these calls, contact FREA immediately at 800.882.4410 and receive instructions on how to proceed.
If your E&O carrier isn't alerting you to issues like this on a regular basis, maybe you need to join FREA where we work for you and your profession all of the time and not just when there is a commission to be earned. After all, we all know in the end you usually end up getting exactly what you pay for... and sometimes that isn't much.
At FREA, we've got your back.
The FREA Team