Peter Christensen

Peter Christensen
Peter Christensen is an attorney who advises professionals and businesses about legal and regulatory issues concerning valuation and insurance. He represents appraisers, appraisal firms and mortgage service companies and also serves as general counsel to LIA Administrators & Insurance Services. He can be reached at peter@liability.com.

AMCs Fighting Over Next Generation Valuation Products and Technology

By Peter C The residential valuation business for mortgage lenders has been taking big steps lately toward wide scale replacement of the historical Uniform Residential Appraisal Report (URAR or 1004) form used in mortgage lending. As this movement happens, some would-be providers of replacement valuation products (such as “hybrid” appraisals) and automated valuation models (AVMs) are fighting over Via:: AMCs …

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AMCs Fighting Over Next Generation Valuation Products and Technology

By Peter C The residential valuation business for mortgage lenders has been taking big steps lately toward wide scale replacement of the historical Uniform Residential Appraisal Report (URAR or 1004) form used in mortgage lending. As this movement happens, some would-be providers of replacement valuation products (such as “hybrid” appraisals) and automated valuation models (AVMs) are fighting over Via:: AMCs …

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Appraisers in Arbitration - Legal Risk?

By Peter C As real estate appraisers seek to diversify their services beyond traditional lending work, one of the fields I think appraisers should be looking to more is serving as an arbitrator. When disputes concern real estate interests, appraisers are well-positioned to offer their expertise not only as valuation experts for one side, but also as decision-makers in the …

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Classifying Staff Appraisers as Independent Contractors

By Peter C A hot legal issue that is beginning to more often affect appraisal firms and similar businesses, such as inspection and field service management firms, is the classification of workers as independent contractors, rather than as employees.In some lawsuits, plaintiff workers argue that they were improperly classified by firms as independent contractors and then claim that, if they …

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Appraiser Overtime Class Action Against CoreLogic, Filed 12-29-17

By Peter C AA residential staff appraiser has filed an overtime class action lawsuit against CoreLogic Valuation Solutions. The appraiser is a current employee and works as a staff appraiser in Southern California.  On behalf of herself and a putative class of similar CoreLogic staff appraisers, she alleges that CoreLogic’s pay practices violate the federal Fair Labor Standards Act and …

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Risky Business

Peter Christensen is a frequent speaker at Valuation Expo and Collateral Risk Network compliance events. He is an attorney and serves as the general counsel of LIA Administrators & Insurance Services (www.liability.com). Buzz: Peter, you work on the “bleeding edge” of legal issues affecting the appraisal business community. What trends are you seeing? With respect to appraisal liability claims, the …

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Appraiser Expert Witness Issue: Discovery of Draft Expert Witness Reports (Draft Appraisals) in State Court - a Chart

By Peter C Appraiser Michael Brunson, SRA, MNAA, and I recently wrote an article for the Appraisal Institute’s 4th Quarter 2015 edition of Valuation entitled “Getting Ready for Expert Witness Work: 10 Practice Pointers.”   One of the pointers is that while the Federal Rules of Civil Procedure (Rule 26) now generally protect a retained expert witness’s draft reports (e.g., …

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A Nutshell Summary of the Impac Mass Litigation Against Appraisers

By Peter C This post is a nutshell summary of the mass litigation against residential appraisers that is presently occurring in relation to loans originated or serviced by Impact Funding Corporation.  Impac Funding – a subsidiary of Impac Mortgage Holdings and corporate affiliate of Impac Mortgage/CashCall Mortgage – has assigned the right to file lawsuits against appraisers in relation to …

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