New Appraiser Indictment

[Rachel Dollar]

PA appraiser who used the electronic signatures of other appraisers and submitted inflated appraisals on reverse mortgages. http://www.mortgagefraudblog.com/appraiser-id-theft-inflated-hecm-appraisals-underlie-indictment/

 

[TRESinc]

If convicted the defendant faces a maximum possible sentence is 166 years’ imprisonment, five years of supervised release, a $5,050,000 fine, and a $1,000 special assessment

ouch.

 

[Pittsburgh Pete]

I'm sure he's getting everything he deserves but what's up with a $1,000 special assessment on top of a potential fine of $5M and 5 years of supervised release after a possible 166 years in prison?

 

[nstanbru]

but what's up with a $1,000 special assessment

Portal fee

 

[djd09]

Clean them up Dr. Carson.

 

[Terrel L. Shields]

Sounds like he acted as AMC, but his "staff appraisers" was paid $0 and not aware of the defalcation going on. So wonder if he did all these himself or was Awad's Formfill Service fleshing them out overseas?

 

[JTip]

Awww.....10 appraisals a month....poor fella. Just an empty ICLight can throw from the AMC cesspool capital of the country.

Good find Tres.

 

[Bobby Bucks]

Reverse mortgage fraud may lack the glamour of jumbo loans on exotic mansions, but pretty soon all those losses do begin to add up. There appears to be one AMC in particular that has the ability to locate C3 and C4 properties which somehow turn into C6 tear downs in less than 5 years at an astonishing rate. The data is in the giant vault awaiting the harvest.

 

[EddieB]

Portal fee

One vote for best post of the month

 

[djd09]

Good find Tres.

Who is Tres? What did she find?