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Teresa Cota
Complaint Summary
I filed a complaint with the Colorado BOREA and HUD on the same day – 7/31/04.
Complaint filed against appraiser Teresa M Cota, Colorado license number AL40019310. Subject Property: 2643 E 90th Pl, Thornton, CO 80229
11 months later, the resolution of the complaint was completed – 6/21/05. This is significant because this complaint is an example of the absolute best case processing time. It was a plea bargain. The results are posted on the BOREA Website. The summary:
The appraiser (Cota) is not required to plead guilty or admit to anything. She pays a $500 fine, and is required to take a 15 hr USPAP class, and 8 hr class on the new Fannie Mae form.
This is a representative example of what an appraiser can expect in Colorado. This is a slap on the wrist. $500 fine for a job that paid $350. At the USPAP class she will be using the time to figure a way to fudge the value in a more USPAP compliant way.
HUD took no action (none that can be verified). The appraiser is in good standing at HUD, this can be verified at the HUD Website.