Freddie Mac blacklists BBG...

[djd09]

Freddie Mac places appraiser BBG under review​

Agency is rejecting appraisals or valuations involving Jon DiPietra, amid agency’s widening investigation into mortgage fraud

Freddie Mac has temporarily stopped accepting new loans with valuations or appraisals from one of the biggest appraisal firms amid the agency’s widening investigation into mortgage fraud.


Freddie has put Dallas-based BBG under an internal review this week.

The agency also said it will not deal with any appraisals or valuations in which Jon DiPietra, a managing director of BBG’s New York office, was involved in any capacity. DiPietra is on Freddie’s “restricted vendor” list, which is essentially Freddie’s blacklist.

The news was first reported by commercial real estate newsletter The Promote.

DiPietra provided appraisal and valuation work to owners of some of the largest buildings in the city, including Silverstein’s 52-story 7 World Trade Center, 650 Fifth Avenue, and Durst’s Hallett’s Point, a 2.4 million-square-foot mega project, according to BBG’s website.

It is unclear what led Freddie to place BBG under review or DiPietra on the restricted vendor list. Neither returned requests to comment.

Freddie Mac places appraiser BBG under review

Freddie Mac halted accepting loans using valuations or appraisals from one of the Big Five appraisals firms amid widening investigation into mortgage fraud.

therealdeal.com

more bad news for commercial real estate...fraud

 

[Dublin ohio]

Sounds like your kind of company. I hear they are hiring in Ohio

 

[Non Sequitur]

They pump out GSE resi reports too? Either way, I'm not sure how anyone pulls out of that mess. And I wonder if this is similar to what happened to TrueFootage?

 

[ucbruin]

No big deal as long as lenders are paid back in full....

 

[Terrel L. Shields]

So commercial property drops like a rock into a pond and so someone must have committed fraud, eh? Really? Or just because the market has fell and the appraisers crystal ball was out to lunch.

 

[Tom D]

innocent or guilty, has the restricted red mark. walking dead. that's a million dollar attorney fee.

 

[djd09]

Sounds like your kind of company. I hear they are hiring in Ohio

how can i reply to such ignorance...frickin shill

 

[djd09]

So commercial property drops like a rock into a pond and so someone must have committed fraud, eh? Really? Or just because the market has fell and the appraisers crystal ball was out to lunch.

kind of like residential appraisers in 09...

 

[Dublin ohio]

how can i reply to such ignorance...frickin shill

 

[djd09]

very good...lap dog