article thumbnail

Rocket Mortgage wins $10 million dismissal in 2012 lawsuit

Housing Wire

Rocket Mortgage scored a big win this week after the Fourth Circuit on Thursday vacated a $10 million judgment in a class action over a decade old. The group alleged that they paid for appraisals that were not independent since the defendants had provided appraisers with the homeowners’ estimates of their homes’ values.

Mortgage 369
article thumbnail

Market Condition (Time) Adjustments for Appraisals

Appraisal Today

We saw that clearly on the south shore of Long Island after Hurricane Sandy in 2012. The New Housing Stock Will Skew To Higher-End The housing stock replacements tend to be more expensive than those it replaced. Sales fall sharply and then rebound as new construction surges.