Although defendants First American and its subsidiary eAppraiseIT argued that a series of laws reserved for the federal government the right to regulate appraisers participating in loans by federal savings associations, the Court of Appeals in an opinion by Judge Ciparick disagreed.
November 23, 2011 at 12:00 AM
1 minute read
ALBANY – There is nothing in federal law to prevent New York’s attorney general from pursuing allegations that real estate appraisers engaged in fraudulent and deceptive business practices, the state’s highest court decided yesterday.
People, by Cuomo v. First American Corporation, 184, involves First American Corporation, which provides real estate appraisal services to savings and loans institutions and other lenders through its subsidiary, eAppraiseIT or EAI.
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