Opinion ID: 1036719
Heading Depth: 3
Heading Rank: 2

Heading: Simms Loans

Text: Residential demanded Terrace repurchase two loans issued to finance two separate pieces of property because the original appraisals improperly inflated the value of the properties, in violation of the Client Guide. Appellant's App. 347, 356, 492. Residential employed the services of Meredith Herring, a professional appraiser, who reviewed the initial appraisals and concluded they overvalued the properties. Terrace takes issue with several aspects of Herring's testimony, including (1) she was -13- paid to testify; (2) she begins with the premise there is a problem with an initial appraisal when reviewing that appraisal; (3) she had no knowledge of the interior of each property she reviewed; and (4) she spent insufficient time evaluating one of the properties. Terrace also contends Residential did not comply with the requirements of Georgia law when it attempted to recover a deficiency following the foreclosure of the two property interests. Terrace's objection to Herring's testimony ultimately concerns the validity of Residential's determination an Event of Default had occurred, and therefore, we again decline to review it. As for its claim regarding the deficiency, Terrace identifies nothing in the Client Guide which requires Residential to comply with local law when pursuing a deficiency, nor does it identify any provision stating non-compliance with local law terminates Residential's right to demand repurchase. Terrace's arguments are of no moment.