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loanDepot ultimately admitted no fault and the settlement contained an overhaul to its appraisal policies and procedures. The document states that loanDepot “should not utilize appraisers who have previously been found to have discriminated in an appraisal by a regulatory body of court of law.”
California-based loanDepot will pay an undisclosed amount and commit to improving its mortgageappraisal practices. The settlement requires loanDepot to implement enhancements to its mortgageappraisal policies and procedures within 120 days. But the company hasn’t admitted any fault.
March 28, 2025 Whats in This Newsletter (In Order, Scroll Down) LIA ad: Navigating Value Revisions On Time Adjustments By Timothy Andersen, MAI 19.5 CDEI, MNAA Excerpts: Typically, this time starts when the comparable goes under contract, then ends on the effective date of the appraisal. times 42-days or $5,523. He is a USPAP Expert.
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