Newman v Wells Fargo Bank, N.A.

2011 NY Slip Op 04730 [85 AD3d 435]

June 7, 2011

Appellate Division, First Department

As corrected through Wednesday, August 10, 2011

Randall S. Newman et al., Appellants, v Wells Fargo Bank,N.A., et al., Respondents.

—[*1]Randall S. Newman, P.C., New York (Randall S. Newman of counsel), for appellants.

Hogan Lovells US LLP, Washington, DC (Jessica L. Ellsworth of the Virginia and District ofColumbia bars, 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 CountrywideHome Loans, Inc., respondent.

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

Order, Supreme Court, New York County (O. Peter Sherwood, J.), entered on or aboutFebruary 5, 2010, which granted defendants' motions to dismiss the complaint pursuant to CPLR3211 (a) (1) and (7), unanimously affirmed, without costs.

Plaintiffs allege that defendant Wells Fargo Bank, N.A. fraudulently misrepresented that theirhome 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 plaintiffRandall S. Newman on the date of plaintiffs' closing. Plaintiffs' remaining claims are not viablebecause they are based on the premise that plaintiffs detrimentally relied upon [*2]fraudulently inflated appraisals of the home. Appraisals are notactionable 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 AD2d 370, 372[1989]). Concur—Mazzarelli, J.P., Sweeny, Acosta, Renwick and DeGrasse, JJ.