Randall S. Newman, et al., Plaintiffs–Appellants, v. Wells Fargo Bank, N.A., et al., Defendants–Respondents. (2011)

Hogan Lovells U.S. LLP, Washington, DC (Jessica L. Ellsworth of the bars of the State of Virginia and the District of Columbia, admitted pro hac vice, of counsel), for Wells Fargo Bank, N.A., respondent.

Zeichner Ellman & Krause LLP, New York (Steven S. Rand of counsel), for Countrywide Home Loans, Inc., respondent.

Winget, Spadafora & Schwartzberg, LLP, New York (Scott B. Tenenbaum of counsel), for Quality Real Estate Appraisals, Inc. and Richard S. Marra, respondents.

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Order, Supreme Court, New York County (O. Peter Sherwood, J.), entered on or about February 5, 2010, which granted defendants' motions to dismiss the complaint pursuant to CPLR 3211(a)(1) and (7), unanimously affirmed, without costs.

Plaintiffs allege that defendant Wells Fargo Bank, N.A. fraudulently misrepresented that their home would be classified as a two-family instead of a one-family home for mortgage purposes.   That claim is refuted by the terms set forth in a mortgage commitment letter signed by plaintiff Randall S. Newman on the date of plaintiffs' closing.   Plaintiffs' remaining claims are not viable because they are based on the premise that plaintiffs detrimentally relied upon fraudulently inflated appraisals of the home.   Appraisals are not actionable because they are matters of opinion (see Mandarin Trading Ltd. v. Wildenstein, 65 AD3d 448, 450 [2009], affd 16 NY3d 173 [2011];  Stuart v. Tomasino, 148 A.D.2d 370, 372 [1989] ).

THIS CONSTITUTES THE DECISION AND ORDER

OF THE SUPREME COURT, APPELLATE DIVISION, FIRST DEPARTMENT.

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CLERK