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SEC probes WAMU Appraisal Practices

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Mike Kennedy

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Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
http://www.housingwire.com/2007/12/21/sec-probes-wamu-on-appraisal-practices/

Citing unnamed sources, the Journal says the probe is in its infancy but will include “whether WaMu accurately disclosed to investors of mortgage-backed securities how its loans were appraised as well as whether the company properly accounted for its loans in financial disclosures to investors of the company.”
 

LordofTexas

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Feb 21, 2008
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Certified Residential Appraiser
State
Texas
Old Article

:confused:

Mike,

That article was from 2007, I don't understand why you posted it. I was curious as I just got an "I've Moved" notice in the mail from a previous loan agent at WAMU indicating he's now at Wells Fargo. Although not indicative of several other "Account Executives" I knew with 15 years at WAMU, he was one of the worst offenders I knew. BTW, WAMU stock went from $55 when I had it to a current $9 and change recently.
 

Joyce Potts

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Feb 6, 2005
Professional Status
Certified Residential Appraiser
State
Florida
I think one word can sum up the WAMU - eAppraiseIT relationship:

rutro
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
INFO purposes.

:confused:

Mike,

That article was from 2007, I don't understand why you posted it. I was curious as I just got an "I've Moved" notice in the mail from a previous loan agent at WAMU indicating he's now at Wells Fargo. Although not indicative of several other "Account Executives" I knew with 15 years at WAMU, he was one of the worst offenders I knew. BTW, WAMU stock went from $55 when I had it to a current $9 and change recently.


http://appraisersforum.com/showthread.php?t=139654 :icon_idea:
 
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