A class action lawsuit was filed against Countrywide by a group of Idaho appraisers. The appraisers claim that Countrywide used strong arm tactics to pressure appraisers to provide false appraisals. The lawsuit further claims that Countrywide punished those appraisers who would not participated by blacklisting them and denying them work.
The class action complaint was filed in the United States District Court in Seattle. The plaintiffs seek to certify a class of all appraisers nationwide who have been blackballed by Countrywide.
Pressure from lenders has been an ongoing problem for appraisers for many years. Given the economic climate, it appears likely that similar cases will be filed.