Appraisal Fraud is up 46% From Same Time Last Year

Reblogger Heather Adkinson
Real Estate Agent with Windermere K-2 Realty LLC www.propertiesinmoseslake.com

Eye-opening blog about what the problem really may be...

Original content by Bill Ladewig NMLS 291249

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 GuruYour Fha Guru

Bill Ladewig
800.664.SAVE (7283)
Bill@yourfhaguru.com

 

 


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Rainmaker
449,109
LLoyd Nichols
Premier Florida Realty of SWFL - Fort Myers, FL
SW Florida Homes

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.

Nov 03, 2009 03:37 PM #1
Rainer
190,654
Terry Meyer
Berkshire Hathaway HomeServices Sound Realtors - Olympia, WA

I thought it was just me.  I tought I was having a flash back.  Even with HVCC, people will find ways to influence the systems that were set up to save the banks.  But do the banks really want to protect their assets???  I often wonder too.  It makes you really wonder when you see numbers like this. 

Nov 03, 2009 03:47 PM #2
Ambassador
2,287,201
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Heather,

This is terrible!  I thought we were having less fraud.. hasn't that been the whole idea of all of the reforms and bail-outs, etc.???

Nov 03, 2009 11:33 PM #3
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Rainer
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Heather Adkinson

Real Estate Agent - Moses Lake
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