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SPECIALIZED COM. LENDING v. MURPHY-BLOSSMAN

No. 2007 CA 0100.

978 So.2d 927 (2007)

SPECIALIZED COMMERCIAL LENDING, INC. v. MURPHY-BLOSSMAN APPRAISAL SERVICES, L.L.C., Rick Murphy, A.R. Blossman, III, and ABC Insurance Company.

Court of Appeal of Louisiana, First Circuit.

Rehearing Denied January 17, 2008.

Attorney(s) appearing for the Case

Andrew A. Braun, Daniel G. Rauh, New Orleans, LA, for Plaintiff/First Appellant Specialized Commercial Lending, L.L.C.

David S. Daly, Metairie, LA, for Defendant/Second Appellant Chicago Insurance Company.

Joseph G. Glass, William J. Guste, IV, Metairie, LA, for Defendant/Appellee Murphy-Blossman Appraisal Services, L.L.C.

Michael P. Bienvenu, Baton Rouge, LA, Counsel for Defendant/Appellee Richard L. Murphy.

Robert S. Stassi, New Orleans, LA, for Defendant/Appellee A.R. Blossman, III.

Brian B. Brown, Mandeville, LA, In Proper Person for Third Party Defendants/Appellees, Brian B. Brown, Brian B. Brown Construction, Inc., and Bacmar Enterprises, Inc.

Angela P. Miles, Mandeville, LA, In Proper Person for Third Party Defendant/Appellee, Angela P. Miles.

Before WHIPPLE, GUIDRY, and HUGHES, JJ.

HUGHES, J.

This is an appeal from a judgment in favor of a lender and against a real estate appraisal company for the loss of collateral resulting from the latter's failure to verify that homes were being constructed as represented, for which loan funds were advanced. For the reasons that follow, we affirm the trial court judgment in part and reverse in part.

FACTS AND PROCEDURAL HISTORY

Between 1998 and 1999, Brian B. Brown and companies he controlled...

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