• Report: #313653
Complaint Review:

Flagstar Bank - Mark Liley

  • Submitted: Sat, March 01, 2008
  • Updated: Mon, January 24, 2011

  • Reported By:Pal Illinois
Flagstar Bank - Mark Liley
5151 Corporate Drive Troy, Michigan U.S.A.
  • Phone: 800-945-7700 x 5273
  • Web:
  • Category: Banks

Flagstar Bank - Mark Liley Unfairly removed from their approved appraiser's list Troy Michigan

*Consumer Comment: Impossible situation

*Consumer Comment: Mr. liley update

*Author of original report: My apologies to Mr Liley...

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I received a letter stating that "based on an appraisal report I completed, that Flagtstar Bank has rescinded my eligible status with Flagstar Bank" I enquired concerning this and asked to see the review of my appraisal. I was told I could only have the addresses used in the review. Upon my investigation these "sales" all turned out to be probably the worst comparables that could have been chosen. My appraised value was "shot down" by $75,000 as the reviewer stated the home worth $210,000.00 not the $285,000.00 I appraised it at.

It has come to my attention that the same appraiser was then hired to do a new appraisal. It was shocking to find out that this very appraiser not a week later now valued the home $65,000.00 higher than the value he stated on my review. ($275,000.00)

This "chief appraiser" Mr Liley, at Flagstar has been giving me the run around for weeks now and never returns a phone call. The last contact was several weeks ago and that an impartial reviewer be hired to get their opinion. Well, no resonse to this. I am assuming that the review went in my favor and now Mr Liley is up against a rock and a hard place. I refuse to let this go. This is my livelyhood and he has caused me to loose untold income from some of my lenders who now, cannot use my appraisals.

I intend to follow this to the "top" executive officers if only to have this Mr Liley looked at for his practices. Not only did he try to give me false information regarding his investigation into my comparable sales, he is profoundly unprofessional in his practices.

I am filing complaints with the State of Michigan against Flagstar Bank and Mr. Liley himself with the state appraisal board for what I see as ethics/standards violations and improper appraisal practices. I am also filing a complaint with the I.D.F.P.R. against this "review" appraiser for stating a value of $210,000.00 and a week later stating the same home was $275,000.00

Pal, Illinois

This report was posted on Ripoff Report on 03/01/2008 12:16 PM and is a permanent record located here: http://www.ripoffreport.com/reports/flagstar-bank-mark-liley/troy-michigan/flagstar-bank-mark-liley-unfairly-removed-from-their-approved-appraisers-list-troy-mich-313653. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 Consumer Comment

Impossible situation

AUTHOR: Boyd Appraisals - ()

Flagstar / Chase did the same thing to me.   

Here is the situation, 3 years after receiving my Certification, I receive a letter from them telling me I was being placed on their "Bad" list.  I was concerned, as I had never worked for either of them.  To be eligible, you must have at least 5 years certified.  After a year of occasional emails, I was finally told which appraisals were reviewed by them.  They said I had the option to refute the reviews, but the appraisals had been done years before and in very specific conditions, which they did not care to listen to.  They told me they would consider me again, if I took a site valuation class....and guess what...they still won't remove me.  5 years later now, and every year a client of mine keeps trying to get them to put me back on, and I have even taken that class again......but nope.  I have never been on a Blacklist, and they are the only thing tarnishing my record.  I laugh everytime I hear that the company loses in lawsuits of multi billion dollar settlements.....I just wish they would have some business sense and stop letting some idiot run their appraiser panel list into the ground.

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#2 Consumer Comment

Mr. liley update

AUTHOR: newps4era - (United States of America)

Since you are apologizing to Mr Liley, did you get re-instated? If so how did you do it???

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#3 Author of original report

My apologies to Mr Liley...

AUTHOR: B.p. - (U.S.A.)

At the time of my original complaint, I was angry as I was being removed from an approved lender's list. This has never happened to me in 16 years of appraising. I made some personal comments regarding Mr Liley that should not have been said. I want to apologize to Mr Liley for making this personal. I must admit he has been nothing but professional in each conversation we have had, never once raised his voice nor made any personal comments and always treated me with respect. In hindsight, I wish I had been so professional also.

My fault is that I take most everything regarding my business personally. Mr Liley was just doing his job in protecting his company from what he thought was a poor appraisal.

I made some mistakes in my original report, never was anything done intentionally but, mistakes were made none the less. I am not "allowed" to remove this original complaint from this site or I would but I hope that all concerned see this message and take it as a genuine apology in the sincerity it is given.

Whatever the outcome, I am sorry Mr Liley...
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