PDF Print E-mail

American Home Mortgage Acceptance, Inc. v. Appraisal Place, Inc., 476 F. Supp. 2d 636 (E.D. Mich. 2006)

The case arose when VBLH&C’s client, a mortgage lender, foreclosed on a multi-million dollar loan and discovered that the property was worth only a fraction of the loan amount.  VBLH&C, on behalf of the plaintiff, filed suit against the appraisers.  In response, the appraisers moved under Michigan law to allocate fault to others involved in the loan transaction.  The court, in a matter of first impression, agreed with VBLH&C’s argument that allowing allocation was improper.