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Fannie 2008 Fraud Report

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Mike Kennedy

Thread Starter
Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
Fannie Jan. 2008 Fraud Update Pdf


"4% VALUE MISREPRESENTATIONS" LOANS 2006-2007

PLUS TOP TEN CITIES
 
Last edited:

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
So appraisers are responsible for 4% of the whole pie. Lots of other
fraud goin on out there. It appears with the help of their
lender they lie about liabilities, SSN, Credit, Occupation, Income,
their Assets, and Property (whatever that means).

Raines, et al (Fannie Execs), don't have the cleanest shirts either,
but of course they get to agree to the penalty with out accepting
or denying the charge.
 

Michael Tipton

Senior Member
Joined
Sep 25, 2005
Professional Status
Certified Residential Appraiser
State
Florida
Also include 10% for property-misrepresenting material facts of the subject and/or comps. My market is on both "top 10" lists.
 
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