The opposing side is claiming that obtaining an MAI appraisal is not enough when making a commercial real estate loan. They are claiming that every commercial lender should obtain two additional broker’s professional opinions, in addition to the expensive MAI appraisal.
If you currently work as a commercial real estate loan officer or as a senior commercial real estate lending executive for either (1) a commercial bank; (2) a credit union; (3) a nonprime ABS/Wall Street lender, such as Silverhill, Cherrywood, Velocity, etc.; or (4) a hard money commercial lending shop, you might be a good candidate to testify in this case as an expert.
Sorry, guys, but the testimony of a typical commercial loan broker might not help, unless have been an unusually successful commercial loan broker for more than twenty years.
The good news is that you will almost certainly not have to travel anywhere. In this time of COVID, the entire case will probably be held using Zoom, so we are just talking about three or four hours of depositions and testimony before a computer screen.
Obviously you will receive an expert witness fee for your time, and having testified as an expert witness looks great on a resume and your website.
Will you serve a good cause? If so, would you kindly write to me at the email address below, telling me of your current employment, your commercial real estate lending experience, and to what you might testify on the subject of the standard of care for commercial real estate lenders in connection with MAI appraisals.
I receive on average 1,350 emails per day, so it is critical that your Subject line please read exactly as follows, “Expert Witness.”
George Blackburne III, Esq.
By George Blackburne