blackball
Ask Henry Harrison

41) "Do Not Use" List

01/25/07
Hi Henry:
Although I have worked in the Real Estate industry for many years, I have only been a licenced appraiser for a little over 4 years now.

I recently was told that a lender refused one of our reports because my senior appraiser has been placed on a "Do Not Use List" by a major lender dating back to 1998... with no explaination as to the reason behind this action. We are being told it has nothing to do with any type of fraudulent, or misleading valuation, but are not being told much else.

I have inquired with our local board as to what our rights are, or what recourse we have, and I'm being told, we have none!

Can you give me any advice as to what we can or should do in this situation? To think that someone's livelihood can be compromised like this without having to give a reason is a throwback to McCarthyism.

Thanks in advance for your help!!
Zino Amato ziniga@comcast.net

Dear Zino,
This is not the first time I have heard a story like yours..

You might try sending a letter to whomever gave you this information asking them to reveal who the lender was that placed your appraiser on the Do Not Use List. If you are lucky, they will reply and you could contact that lender and ask them about correcting the problem.

If this doesn't work, I would send a second letter threating to sue the lender if they don't comply. If that doesn't work, unfortunately, the only other advice I can give you is to hire a good lawyer.

H2