Seems like New York State Attorney General Eric Schneiderman isn’t going to let CoreLogic and subsidiary eAppraisal off the hook as easy as the other guy. Read it here.
After several years of consumers waiting for someone to “pay the price” for the mess we are in, maybe someone is finally going to be called out on this financial fiasco, in one State anyway.
I remember back in 2007 when the NY SAG stated a division of First American (now CoreLogic) “single-handedly caused the foreclosure crisis in New York”. Wow. Huge accusation.
I have kept up with this case and there is a lot of smoke coming from that fire. We’ll watch how it plays out. But if any of the accusations hold up (grossly inflated appraisals?! yikes!), it won’t be good news for the country’s largest data collector.
And if those accusations turn out to be true in court or litigation, you’ve got to ask yourself if you’re in the Real Estate industry- If I utilize this kind of company for any of my real estate services, will it help me convince the American Home Buyer that REALTOR’s are honest and trustworthy?