A recent lawsuit was filed alleging the Washington Mutual Mortgage applied undue pressure to it's appraisal management firm, eAppraiseIT, a subsidiary of First American...the huge title company.

This collusion if true is the exact behavior mortgage brokers are often accused of when attempting to explain the subprime meltdown and the glut of foreclosures.

Read the full article on my mortgage advice blog:

Washington Mutual's Misbehavior Same Cited to Smear Mortgage Brokers

This begs the question "Where are all the cries for legislation and 'if that won't work, lynches do' rhetoric when this Washington Mutual home loan allegation was leveled against mortgage brokers?"

The NY Attorney General who file this lawsuit is at least attempting to investigate lending misdeeds even handedly...which we certainly cannot say the same about when it comes to most State legislators or Congress at this point.

Their motto seems to be "The sky is falling and it's the brokers fault"...and the consumers could pay a deep price if we let this "fear baiting" continue.