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AppraiserLoft Blog I Appraisal Industry News |
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LawsuitsChicago Lawyer Seeking Class Actions over HELOCs Against Wells Fargo, Chase, OthersTuesday, September 15th, 2009By: Darrell Delamaide Wells Fargo, JPMorgan Chase, and other major banks are fraudulently closing down home equity lines of credit (HELOCs) just when consumers need them the most, Chicago attorney Jay Edelson is alleging on behalf of a number of clients in lawsuits that seek class action status. Edelson has embarked on a crusade against [...] Countrywide Exec Charged with Fraud and Insider TradingWednesday, June 10th, 2009The former CEO from Countrywide has been charged with fraud and insider trading by the SEC. Angelo Mozilo, together with two former executives, is alleged to have deliberately mislead investors about the significant credit risks involved in building the company’s market share. In emails seized by the SEC, Mozilo called subprime loans “toxic†and “dangerousâ€. [...] Press Release : Wells Fargo AppraisersThursday, June 4th, 2009Class Action Says Wells Fargo, Rels Illegally Strong-arm Appraisers April 14, 2023 SEATTLE - Today two real-estate appraisers filed a proposed class-action lawsuit against Wells Fargo (NYSE: WFC) and Rels Valuation, an appraisal management service, claiming the two organizations pressured and intimidated appraisers to deliver artificially inflated home appraisal values to help close loans and [...] SEC Probes WaMu on AppraisalsSunday, December 23rd, 2007Regulator Checks Handling Of Loans Possibly Based On Inflated Valuations Article from WSJ.com By AMIR EFRATI December 21, 2007; Page A2 The Securities and Exchange Commission is investigating how retail bank Washington Mutual Inc. handled and reported on mortgage loans that may have been based on inflated home appraisals. The SEC’s inquiry is in its [...] Law firms investigate First AmericanThursday, December 6th, 2007Two weeks ago, The First American Corp. was sued in New York for allegedly colluding with Washington Mutual to inflate appraisals. Now, four law firms are investigating the company for potential violations of the Employee Retirement Income Security Act of 1974 (ERISA).The investigation focuses on investments in First American stock by the First American Corp. [...] |
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