Some appraisers are now being targeted in lawsuits by an entity named "Mutual First, LLC." It has filed about 40 lawsuits within the last year -- 17 within the last two weeks. Mutual First is not a bank, credit union or any kind of regular financial institution. It's an entity aiming to make money by suing appraisers. Based in Texas, it acquires foreclosed loans, mostly seconds, for small fractions of the original principal amounts.
This great article as well as many more can be found at www.appraiserlawblog.com
$9,349,612.97 + $1,698,799 = $11,048,411.97. That's how much failed Evaluation Solutions and its subsidiary entity ES Appraisal Services have left in combined unpaid appraisal and BPO fees owed to appraisers and agents/brokers -- according to their respective bankruptcy filings on January 25, 2013.