AMC, Lender Pressure Appraisers to Appraise Over Market Value in Violation of Law by Mary Cummins Appraiser

The lawsuit is "Naftali Horowitz v. Nicole Andrews, Fastapp AMC founder v. Fastapp. AMC president. Horowitz, Fastapp founder, filed a lawsuit in New York court on January 31, 2022 against defendant Andrews to, among other things, remove Andrews as an officer and director of the Company because, when he brought her on as shareholder in 2020, he claimed that she made certain false representations and promises that were never kept." The lawsuit is really about Nicole Andrews trying to get rid of Naftali Horowitz and take over the company per Horowitz. It's kind of messy because there are other accusations involved so we don't know the full, full truth.

This lawsuit is among principles in an Appraisal Management Company AMC Fastapp. They are suing each other because allegedly Nicole Andrews unethically pressured appraisers to hit target values. The purpose was to please the lender clients so they could close a loan to make money. When the lender makes money, the AMC makes money with more orders. One principle was allegedly worried about government enforcement actions. I personally believe both parties knew about this activity all along.

This is the stupidest lawsuit I've ever seen. Generally criminals like this would settle their grievances quietly so they don't all go to jail. It almost sounds like threats of extortion. Once the parties realized this looked bad publicly they reached a settlement a month later and the case was dismissed. Too late. All these juicy incriminating emails are now public. Nicole Andrews is still with the company per their website so... https://fastapp.com/

Generally when these value instances arise the parties are notified to call the office. These things are discussed on the phone and not in writing. It's shocking and beyond dumb these people put these things in writing.

This is why when appraisers come in at market value they sometimes get a complaint or sued for discrimination. A second willing to please "fixer" appraiser desperate for work will come in over market value making the borrower assume the first appraisal was too low and biased. The second appraisal is generally the wrong one over market value. It's the second appraiser that should be sued in all of these big "racial discrimination" media articles, complaints and lawsuits. I'm trying to get ahold of those second appraisals so I can report the appraisers so they can lose their license. They should go to prison for bank fraud along with the AMCs who approved those appraisals.

#realestateappraiser #realestate #appraiser #appraisal #AMC #DoddFrankAct #bias #discrimination https://appraisersblogs.com/alleged-violations-of-appraiser-independence-at-fastapp-amc

"The following court documents in the case Naftali Horowitz v. Nicole Andrews, Fastapp AMC founder v. Fastapp AMC president, confirm what appraisers have been saying all along, that if you want high-volume AMC work, you have to lower your fees to 1980’s level, have 24 hour turn times, and, above all, be a number hitter.

Horowitz, Fastapp founder, filed a lawsuit in New York court on January 31, 2022 against defendant Andrews to, among other things, remove Andrews as an officer and director of the Company because, when he brought her on as shareholder in 2020, he claimed that she made certain false representations and promises that were never kept. Horowitz is an individual residing in Brooklyn, New York, and is the founder, and, at all relevant times, a 49% shareholder Fastapp. Andrews is an individual residing in Newport Beach, California, and, at all relevant times, a 51% shareholder of Fastapp.

Horowitz claimed that Andrews engaged in conduct constituting potential violations of the Appraiser Independence Requirements under the Dodd-Frank Act of 2010 (“Dodd-Frank Act”), including unlawfully seeking to influence an appraiser to encourage a targeted value to facilitate the making or pricing of the transaction in violation of 15 U.S.C. § 1639e(b)(3). (See copies of emails in Exhibit 3)."

Read the article here with all the email exhibits. This has been happening forever. If you are a kiss ass AMC pleasing appraiser you will never have a complaint or lawsuit filed against you. 

https://appraisersblogs.com/alleged-violations-of-appraiser-independence-at-fastapp-amc

fastapp, nicole andrews, naftali horowitz, mary cummins,real estate appraiser, appraiser, appraisal, dodd frank, violations, appraiser independence, lawsuit

Mary Cummins of Cummins Real Estate is a certified residential licensed appraiser in Los Angeles, California. Mary Cummins is licensed by the California Bureau of Real Estate appraisers and has over 35 years of experience.

• Mary Cummins LinkedIn
• Mary Cummins Meet up
• Cummins Real Estate on Facebook
• Mary Cummins Real Estate blog
• Cummins Real Estate on Google maps
• Mary Cummins of Animal Advocates
• Mary Cummins biography resume short
• Mary Cummins Real Estate Services
• Animal Advocates fan page at Facebook.com
• Mary Cummins
• Mary Cummins Animal Advocates on Flickr photos
• Mary Cummins Animal Advocates on Twitter.com
• Mary Cummins on MySpace.com
• Mary Cummins on YouTube.com videos
• Mary Cummins of Animal Advocates on Classmates
• Mary Cummins on VK

Mary Cummins, Mary K. Cummins, Mary Katherine Cummins, Mary, Cummins, #marycummins #animaladvocates #losangeles #california #wildlife #wildliferehabilitation #wildliferehabilitator #realestate #realestateappraiser #realestateappraisal #lawsuit real estate, appraiser, appraisal, instructor, teacher, Los Angeles, Santa Monica, Beverly Hills, Pasadena, Brentwood, Bel Air, California, licensed, permitted, certified, single family, condo, condominium, pud, hud, fannie mae, freddie mac, fha, uspap, certified, residential, certified resident, apartment building, multi-family, commercial, industrial, expert witness, civil, criminal, orea, dre, brea insurance, bonded, experienced, bilingual, spanish, english, form, 1004, 2055, 1073, land, raw, acreage, vacant, insurance, cost, income approach, market analysis, comparative, theory, appraisal theory, cost approach, sales, matched pairs, plot, plat, map, diagram, photo, photographs, photography, rear, front, street, subject, comparable, sold, listed, active, pending, expired, cancelled, listing, mls, multiple listing service, claw, themls, historical appraisal, facebook, linkedin DISCLAIMER: https://mary--cummins.blogspot.com/p/disclaimer-privacy-policy-for-blogs-by.html