Steve Ruby/ wcs Lending steve ruby ordered an appraisal from jim fish,but once the value came back to low he had the appraisal canceled,i paid for this appraisal upfront to the appraiser,so steve ruby will not reimburse the 300.00 dollars for the appraisal saying he has nothing to do with it . Southfield Michigan
steve ruby had an appraisal ordered and i paid the appraiser on inspection 300.00 dollars at the conclusion,the appraiser jim fish who has recently been indicted did'nt give me response after repeated phone calls for a completed appraisal.So,then i called steve ruby and said the value was to low to complete the loan so he ordered the appraisal canceled,so i asked him would he be reimbursing me my funds for the appraisal that he had canceledl and he said our company doesn't do that.but if had not canceled the appraisal i would still have a completed appraisal even if the value was to low for him to do the loan so i think he should be held liable.
Ryan
detroit, Michigan
U.S.A.
4 Updates & Rebuttals
Nat
Ashburn,Virginia,
U.S.A.
Appraised Value is a moving target
#5Consumer Comment
Wed, November 12, 2008
I do not work for WCS but I work in the industry. Ryan, it is typical that the borrower pay for the appraisal. Your lender has nothing to do with the value of your home and it's illegal to dictate value to any appraiser. This is a highly regulated industry. You are, by law, entitled to a copy of the completed report. If the inspection was never done, then you should receive a refund from the appraiser, who has all of the money. Again, do some homework, look up assessed value in your area, on your home, look up local sales too. This should gauge where your value will fall. Even better, work with a lender that has appraisers that will do a "COMP CHECK" prior to you spending a dime. Just because you love your home and think it's the greatest home on the block doesn't mean it will appraise. Take the emotion out of the equation and you'll have a good handle on what you can borrow.
Florida Appraiser
Winter Springs,Florida,
U.S.A.
Improper Communication of Appraisal Results
#5Consumer Comment
Sat, September 06, 2008
Appraisers are required to communicate the results of appraisals in writing - in the case of appraisals done in pursuit of a mortgage, it is usually prepared on a FNMA form (FNMA Form 1004 is the most commonly used for single family homes)
From your description, it sounds as if the appraiser gave the mortgage broker a value over the phone without completing the report. This would definitely not comply with the appraisal reporting requirements under the Uniform Standards of Professional Appraisal Practice (USPAP - pronounced "Use Pap"). If this is the case, you should file a complaint with the respective State Appraisal Board (just search google for " appraisal board")
If the appraisal WAS completed, then under Fair Lending Laws the mortgage broker MUST provide you with a full copy.
Ryan
detroit,Michigan,
U.S.A.
wcs lending,southfield,mi
#5Author of original report
Fri, August 08, 2008
adam shapiro ceo of wcs in michigan resolved the issue and i would say his company is a sound company, and he is a man of good integrity, i was refunded the money.Steve ruby on the other hand is a man i would not suggest you do business with, on whole wcs lending is a good company.there leadership handles problems with eloquent tact.
Ryan
detroit,Michigan,
U.S.A.
wcs lending,southfield,mi
#5Author of original report
Fri, August 08, 2008
adam shapiro ceo of wcs in michigan resolved the issue and i would say his company is a sound company, and he is a man of good integrity, i was refunded the money.Steve ruby on the other hand is a man i would not suggest you do business with, on whole wcs lending is a good company.there leadership handles problems with eloquent tact.