Tagged: fraudulent loans

Why are Appraisers Furious at Fraud by their Peers while Corporate Lawyers are Complacent? 1

Why are Appraisers Furious at Fraud by their Peers while Corporate Lawyers are Complacent?

I have done a series of articles about the efforts of honest appraisers (which began in 2000) and loan brokers to alert the lenders, the markets, and the government to the twin fraud epidemics (appraisals and “liar’s” loans) committed by lenders’ controlling officers that drove the financial crisis. Honest appraisers could have profited greatly by becoming dishonest appraisers who would be given the lucrative assignments by fraudulent lenders’ controlling officers and their agents. Instead, honest appraisers suffered serious losses of income because they refused to succumb to the extortion efforts of the fraudulent lenders and their agents. A national survey of appraisers...

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