AVMetrics has become a leading expert witness consultant on collateral valuation topics, from AVM applications to Standards of Practice in Real Estate appraisal, having participated in dozens of Residential Mortgage-Backed Security (RMBS), Collateral Debt Obligations (CDO) and mortgage repurchase cases as well as “environmental stigma” litigation for a variety of national and international clients.
Services:
- Independent analysis and advice on questions concerning residential valuation
- Reports, deposition and testimony on industry standards and practices
- Consultation to counsel, including evaluation of opposing arguments, developing lines of argument, evaluating depositions and assessing courtroom testimony in real time for cross-examination
- Support during trial, including development of exhibits and technical support
Topics:
- AVM application and testing
- AVM Model deconstruction
- AVM Model platform evaluation
- Standards of Practice in the use of AVMs for residential real estate transactions
- Standards of Practice in Real Estate appraisal
Case Study:
Mr. Kennedy recently worked on the subject of proper usage of retrospective-based and contemporaneous-based AVMs. Plaintiffs claimed that their retrospective-based automated model valuations provided strong evidence of appraisal inflation. However, Mr. Kennedy demonstrated that retrospective AVMs do not provide sufficient evidence to support such a claim and these models are not an appropriate tool to impugn an appraisal developed at time of loan origination.
Sample of Published Cases:
- China Development Industrial Bank v. Morgan Stanley & Co. Incorporated, et al. Index No. 650957/2010
- FHFA v. Goldman Sachs & Co.et al., 11 civ. 6198 (DLC)
- FHFA v. Nomura Holding America Inc., et al., 11 Civ. 6201 (DLC)
- Massachusetts Mutual Life Insurance Company v. DB Structured Products, Inc. et. al., Case No. 3:11-cv-30039-PBS