Housing Fraud is Back – Real Estate Industry Intentionally Inflating Home Appraisals
by Mike Krieger
ZeroHedge.com
12/03/2014
Almost 40% of appraisers surveyed from Sept. 15 through Nov. 7 reported experiencing pressure to inflate values, according to Allterra Group LLC, a for-profit appraiser-advocacy firm based in Salisbury, Md. That figure was 37% in the survey for the previous year.
“If you thought what was happening before was an embarrassment, wait until the second time around,” said Joan Trice, Allterra’s chief executive and founder of the Collateral Risk Network, which represents appraisers employed by lenders and other companies and has been meeting with regulators to discuss concerns about appraisers being pressured into inflating values.
– From the Wall Street Journal article: Dodgy Home Appraisals Make a Comeback
When in doubt, just make shit up.
The Rest…HERE
