Mortgage Fraud Watch List.

[Lee Lansford]

It's never going to change, IMO. Too many billions in profits vs. current foreclosure losses that are minuscule by comparison.

Do the math. The lending industry will continue to exploit and utilize the 'liberal' minded appraiser. The current state of the market is a but a mere bump in the road.

Joyce,

I don't know whether or not the present conditions are "never going to change", but there are times (too many times) when I do suspect that you are correct in your assertion.

Lee

 

[kerrylanger]

Don't Give Up!

Please don't give up. I knew of a fraudulent situation going on and I was too afraid to say anything. I thought about giving it to the FBI and someone told me not to, that they would question every appraisal you ever did. I had nowhere to go and I called Pam. I gave her the addresses and six to eight months later I read about the people being indicted. This was so scary at the time I left the state and went to my sister's place clear accross the country. These people used intimidation and I stood up. It's not that hard to do and you feel soooo much better afterward.

 

[PropertyEconomics]

It's never going to change, IMO. Too many billions in profits vs. current foreclosure losses that are minuscule by comparison.

Do the math. The lending industry will continue to exploit and utilize the 'liberal' minded appraiser. The current state of the market is a but a mere bump in the road.

Ms Potts you have just hit me between the eyes. It never occurred to me that appraisers were Liberal or Conservative ... no freaking wonder this is a mess. I swear I feel stupid ... but the simple thought never occurred to me.

 

[xmmcsmielr]

Flight To Quality

Richard Hagar wrote an article (Flight to Quality) in the December 2007 issue of the Regulatory Crier. It is excellent and addresses the issues in this thread. A copy is attached.

 

[xmmcsmielr]

Kudos to kerrylanger

kerrylanger, excellent work.

The fear of retaliation from criminals is certainly difficult to overcome.

When I decided to provide information to federal law enforcement officials, I thought about what a retired attorney told me that she used to ask herself, when similar issues came up in her legal work:

"Is this the hill I am willing to die on?"

kerrylanger, your answer to that question obviously was: "Yes."

It is very important that appraisers participate in the enforcement of USPAP and other applicable laws.

So, kerrylanger, I hold you in high esteem. You've helped improve the appraisal profession and, hopefully, by doing so, have encouraged others to participate in similar actions.

 

[SANDY]

"enhanced reporting format"

 

[Couch Potato]

Keep it up Kerry. As Ricardo notes with his post, such actions result in paying a price.

Richard Hagar wrote an article (Flight to Quality) in the December 2007 issue of the Regulatory Crier. It is excellent and addresses the issues in this thread. A copy is attached.

Nice article. Thanks for the link. I especially like the description of the "expert."

Wall Street wasn’t backed by good knowledge or research … it was just some dweeb waiving his arms around making it look like they knew what they were talking about.

(Too bad it was a copyright violation to post it here. For those interested, it was from the December 2007 issue of The Regulatory Crier, written by Richard Hagar.)

 

[xmmcsmielr]

Richard Hagar emailed a copy of the article to me. I would be amazed if there actually is any copyright violation. What law prevents me from posting an article, provided to me by the author, with full identification of the source publication in the article? What law, Couch Potato?

 

[Head Surfer]

Richard Hagar emailed a copy of the article to me. I would be amazed if there actually is any copyright violation. What law prevents me from posting an article, provided to me by the author, with full identification of the source publication in the article? What law, Couch Potato?

Ricardo,

If you have obtained the explicit permission of the author to post it on our forum, there is no problem.

If he just sent it to you for your own use and you do not have permission to post it here then it is a violation of federal copyright laws as the article copyrighted.

So please let me know if you have explicit permission from the author to post it here and we will let it stand.

 

[Couch Potato]

Ricardo, the article is published to a site that charges a fee to view the article. Such material cannot be posted to the web. (I believe that is the reason it was pulled from your post, but I really do not have knowledge of why it's not there anymore.) It would be like a singer sending you an mp3 of their latest song. The singer is probably fine in doing that, but that does not mean you can then share it with everyone through a web site; can't cheat the record label out of their profits.

I'm just glad I got to read it before it was pulled. :new_smile-l: