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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.
The goal is to make sure every adjustment is defensible, based on empirical evidence, and can withstand scrutiny from all stakeholders involved in the appraisal process. By applying these methods, appraisers can provide reliable, accurate valuations that reflect current market conditions and ensure the appraisals credibility and acceptance.
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