ComplaintsforE Street Appraisal Management LLC
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Complaint Details
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Initial Complaint
07/01/2021
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I started a home refinance with my mortgage lender NewRez and as part of this process I needed to receive a new home appraisal. This appraisal cost $525. NewRez requested the appraisal through EStreet Appraisal Management (their website shows they work together) who then found an appraiser in Florida to appraise my home. The appraiser's report returned with multiple inaccurate statements to include the location (stating it was "7 miles Northwest" when it is actually SE) and size (3 bedroom 2 bathroom when it is actually 4 bedroom 2 bathroom) of my home. All of the homes on the appraisal used to compare to my home were 3 bedroom 2 bathroom homes. I filed a dispute with NewRez to have the appraisal corrected to include new comparable homes with the correct size and details. This company claimed the appraiser "corrected" the report by changing the bedroom size but did not redo the appraisal with the correct information which would directly effect the overall appraisal value.Business response
07/02/2021
The appraisal dispute was received and sent to the appraiser. After review the appraiser agreed to change family room to classify as a bedroom, however, found little no market adjustment in comparable three and four unit sales that would result in an adjustment to be made. After running the revised report through the UCDP portal the score provided by Fannie Mae was a 1.0. This score is classified as the best possible score for an appraisal and a review by our internal quality control team found no additional revisions needed. The appraisal report was accepted by the lender and no further questions asked. We do not see reason to refund at this time.
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Customer Complaints Summary
1 total complaints in the last 3 years.
0 complaints closed in the last 12 months.