For those of you who missed Think Big, Work Small this morning... according to InterThinx, the mortgage 
fraud specialists, appraisal fraud is up 46% from the same time in 2008. InterThinx
But wait, who would be the perpetrators, has not HVCC made us safe? Thanks to HVCC, Mortgage brokers, those evil, underhanded, self-serving scourges of real estate and sole cause of the mortgage crisis have not been able to order appraisals (except FHA) or even talk to appraisers in the third quarter of 2009.
OMG, that leaves (choke) the innocent victims of wicked mortgage brokers, Banks. There must be some mistake because we all know that banks would never do anything underhanded.
I am sure we will soon learn, probably from a trusted politician, that, possibly, the cause was appraisers still tainted by previous mortgage broker contact. These appraisers will certainly be sent to rehab at taxpayer expense.
Soon, thank god, due to vigilent efforts of our trusted banks and politicians, the world will be a better place. Mortgage brokers will have disappeared, banks will make all home loans unfettered by pesky competitors and politicians will be provided will deserved taxpayer paid Cayman Island vacations to visit their secret bank accounts.
Is that the happy ending what you want?
Your Fha Guru
Bill Ladewig
800.664.SAVE (7283)
Bill@yourfhaguru.com
Rate Lock Advisory is updated several times a day and is available at http://www.yourfhaguru.com
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These numbers are not very reassuring. In my neck of the woods it seems that most often then not the appraisals come under market value but then we have lots of short sale and foreclosures here.Thank you for sharing.