appraisal lawsuit...anyone have experience?

[Scott Szurek]

I recently had my house appraised to remove PMI. The appraised value came way under actual market value. The report included various errors, absolutely terrible selected comps, and overall just showed terrible local knowledge by a very inexperienced appraiser. In fact, it was a husband wife team, the husband the owner of the company assisted the wife, but did not sign off as a supervisor.

I went through the appeal process and submitted a very detailed report for a "reconsideration of value" and was denied by the AMC who reviewed the report. The AMC, a subsidiary of the lender - how is there any objectivity here? - came back and agreed with the appraisers value, stating various reasons why my comps did not work, and included no justification for my other various complaints about the original appraisal.

I then called the Lender stating the errors that the AMC noted in their review, which coincided with original errors of the appraiser. The lender insurance department said they would look into them. This was three weeks ago, I let a week go by and called they said they would get back to me in less than two days. Another week went by and after calling three times in the past week the lender advisor involved is now never available.

I am ready to take legal action.  Does anyone have experience with this?