FBI - Appraisers Blogs

Foreclosures in Black Communities Due to Overvaluation

Guest Author — Thu, 11 Jan 2024 13:30:49 +0000

What were the results? Most had foreclosures. They bought a house worth much less than they paid for it and never planned or budgeted to make a mortgage payment in the first place. About 2 years before the crash of ‘08, I ran across a company out of DC called “Metro Grapevine” and “Metro Dream Homes.” It was a Ponzi scheme marketed by a black to blacks only. It was by invitation only. They promised if you bought your home through their program, they’d pay it off in seven years and you never had to make a payment. The requirement...

Appraiser Bias Allegations Unmask Debt Traps Claims of tainted appraisal unmask something else... the renewed “churning” of mortgages by nonbank lenders. Convinced racism torpedoed valuations in…
The Real Cause of the Home Value Gap Is the Income Gap Blaming appraisers for the income gap will never solve the real underlying problem... Blaming appraisers for the income gap is…
Only Blacks Need Apply... In the Spirit of Equity Fannie makes its subsidies for blacks explicit, but they don’t appear to extend to other racial groups such as Hispanics…

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Appraisers Should Closely Watch Probe of Departed Brookings Boss

Jeremy Bagott — Thu, 14 Jul 2022 12:30:16 +0000

The chief of the Brookings Institution, a retired four-star general, resigned last month under investigation of lobbying on behalf of a foreign government and then covering it up. If the allegations are true, it means the think tank, under the general’s watch, was secretly taking illicit cash from at least one outside interest group at a time it was engaged in research that irreparably damaged the reputation of the nation’s real estate appraisers. Astute appraisers wondered whether Brookings might have also been influenced by any well-placed donations from other groups, such as the powerful lobbies of the Realtors, home builders,...

Racial Bias Claims Without Proof or Logic The Appraisal Institute just sent a letter to The Appraisal Foundation to address things that have been floating out in…
Racial Bias in Real Estate: Is it the Appraisers’ Fault? In the past year, the appraisal industry has been under attack from various academics who claim “racial bias” on the…
Finding of Bias in Home Valuations Fails by Own Measure To the surprise of no one, their redacted study found that what Perry et al. had characterized as race-based differences…

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Convicted for Committing Fraud Unknowingly?

Guest Author — Wed, 22 Jul 2015 12:30:32 +0000

Appraisers need to have intent in order to be convicted of fraud… I have recently read several different posts and articles on the Internet stating that some appraisers have committed fraud unknowingly. Some describe instances of stating condition to be average when the property needed work, or “tweaking” the numbers to make the deal work. First of all it is important to note, the FBI defines mortgage fraud as “any material misstatement, misrepresentation or omission relied upon by an underwriter or lender to fund, purchase or insure a loan”. By that definition, such fraud can clearly be committed by both...

Appraiser Soon to be Jailbird for Fraud In a million dollar mortgage fraud scheme Appraisers, An appraiser in NY state has been convicted of a FELONY for…
Appraisers - The Reason You Have No Business:… Functional obsolescence is the reason many appraisers are going out of business. On a daily basis, appraisers moan: "It’s because of…
The Beginning of the End for Llano Llano on the losing end... We are happy to report that the walls are slowly tumbling down on Llano Financing…

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Deadbeat AMCs – FBI Wants to Know

Dave Towne — Mon, 28 Jan 2013 12:00:28 +0000

We are passing along this message from Dave Towne: “Ivor Hill has been working with the FBI. Today (1/24/13) the FBI collected all the files he had for JVI and appraisers that are owed money.” “He has asked to ask everyone, and that they ask everyone they know, to spread word that if anyone is owed money from ES Appraisal or any other AMC that went out of business without paying for appraisals to please contact him. He is putting together information directly for FBI investigations.” Please tell your friends to contact Ivor at: ijh@ijhill.com

Wife's Tribute to Bill King Folks, I was in a USPAP class last Friday, during the day I was sent the tribute message below from…
Fight Unfair AMC Practices - Leverage State Authorities Alarmed by predatory practices among AMCs, a peer has drafted letters urging appraisers to call on state authorities to address…
Bias. It's Easier to Blame the Messenger No one wants to be the messenger... Appraisers are messengers. Why is their message so despicable? So biased? The messenger.…

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FBI - Appraisers Blogs

Foreclosures in Black Communities Due to Overvaluation

Related Posts:

Appraisers Should Closely Watch Probe of Departed Brookings Boss

Related Posts:

Convicted for Committing Fraud Unknowingly?

Related Posts:

Deadbeat AMCs – FBI Wants to Know

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