Home Appraisers Blacklisted By Banks, Told To Break The Law

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Home Appraisers Blacklisted By Banks, Told To Break The Law

Home Appraisers Blacklisted By Banks, Told To Break The Law

This seems to have been an issue for a while now.


CBS 5-

Clay Gregory is a Valley home appraiser who is spending a lot of time at home these day, but it’s not by choice.

 “I was put in a position where they pretty much demanded information from me or they were threatening me not to use me anymore,” Gregory said.

Gregory claims he’s been blacklisted by Chase Bank, making it extremely difficult to find work.

The appraiser told CBS 5 News that Chase sent him a letter a couple months ago demanding data on an old appraisal and citing possible violations.

Chase apparently needed information on the home which they were buying back from a foreclosure.

The only problem was Gregory would be breaking state and federal law by sharing info with Chase because the bank was not the one that hired him.

A number of new laws were put in place in 2009 to prevent conflicts of interest between lenders and appraisers to help avoid another housing crisis.

“It doesn’t matter at Chase,” Gregory said. “They want what they want and if they don’t get their way they put you on an ineligible list.”

[CBS 5]

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One Response to “Home Appraisers Blacklisted By Banks, Told To Break The Law”

  1. Ex Appraiser says:

    If THAT is the appraiser’s only complaint they are undoubtedly one of the 80,000 greenhorns that decided to stay in the “raped profession”. Intelligent appraisers moved on 3 years ago to seek out careers that actually paid off.

    Hint to Mr. Greenhorn: Consider yourself lucky. Now maybe you can grow a brain and find a career with an income.

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