Scam Used Forged Appraiser's Signature

[Pamela Crowley (Florida)]

From MortgageDaily.com - you would have to sign up, but it's free.

Mother, 2 Sons Plead Guilty to $2.2 Million Mortgage Scam

Brenda Beckwith, Jamichael Dante Watts, and Jabbar Montez Watts face up to 15-30 years incarceration

November 11, 2003

By PATRICK CROWLEY

http://mortgagedaily.com/FraudBeckwithWatts111103.asp

Jabbar Watts even created phony inflated appraisals by using real estate appraisal software and forging the name of a legitimate appraiser, prosecutors said.

 

[Oregon Doug]

Pamela - I am suprised, Not! I've seen forged Appraisal licenses, forged appraisals, forged 442's, forged VA Certificates of Elegibility, forged Employment verifications, forged Verification of Funds, phony Credit Reports and on & on & on......

And you guys worry if your electronic signature is secure or not!! Folks like this don't need your stinkn' signature - they just make it up as they go along.

Oregon Doug

 

[Steve Wyrick]

Pam is Patrick any relation?

 

[Carnivore]

The LO that had the biggest Kahunas was the one that forged the bankruptcy judges signature on a certificate releasing the property from the proceedings.

Funny thing was he had to appear before this judge. She let him off the hook as long as he quit the business, which he did.

 

[Pamela Crowley (Florida)]

Nope.

 

[Tim Hicks (Texas)]

ooh, one that got caught! Just imagine how many have not been caught!

 

[Restrain]

There's an appraiser here in Dallas that had a mortgage broker doing false FHAs using the appraiser's name and license number. He only found out when he happened to check the appraisals through FHA and found a bunch that he didn't know anything about.

Roger

 

[Steve Owen]

It has always been possible for a criminal to forge your signature. Now, with EDI and digital technology, it is even easier. Do all you can to protect yourself. If you go through and read a few other stories about the fraud going on out there it will really scare you.

 

[CANative]

Got a call a couple of weeks ago from a reviewer asking about our recent appraisal on such and such address. I was mystified. I pulled that file from our archives and found we did it almost 3 years ago. Apparently the broker got a copy and changed the date and appraised value on it. I hope he (and the homeowner) burns in you know where.

 

[Residential Appraisal Ser]

Pam: As you might recall when we met, we discussed the forging of sig on electronic appraisals.. I mentioned at the time that was why I wouldnot do anything but a hard copy appraisal.
Electronic appraisals while fast play right in the hands of a mortgage company that will leave you holding the bag. We have had several members that this has happened to. As a result they were suppended from the FHA panel then clients that they delt with because they were put on the "secret" list that no one talks about.. All of it because a mortgage company changed the value and when the subject went bad it showed up in the forclosure.

Like they said in Hill Street Blue. Be careful out their.

Bill Sentner
President
American Guild of Appraisers OPEIU AFL-CIO
RESASINC@aol.com