NY Attorney General Files Appraiser Fraud Suit Against First American

RE:NY Attorney General Files Appraiser Fraud Suit Against First American

tom — Mon, 04 Feb 2008 13:00:00 GMT

i went into contract for a new consturction house approx. 1yr ago...at that time a RE appraisal was done and was the same as the purchase price.....now 1 yr later we are ready to close and the market has gone down incredibly and so have the comps.....any suggestions here.to get this thing reappraised and have seller redue the price...by the way obviously my bank is WAMU....need help here!!!

RE:NY Attorney General Files Appraiser Fraud Suit Against First American

Former Broker — Sat, 10 Nov 2007 13:00:00 GMT

I am absolutely amazed with the naÃ¯vetÃ© Americans. RE brokers and Mortgage Brokers are both paid on commission.Financial firms/banks make lots of money on mortgage interest (read commission). You have to be outright dumb to not figure that with billions of dollars on the line, and appraisers needing to make a living like the rest of us, that this would happen. Wake up and smell the Starbucks folks, this ain't Disney's happy ending. The only one protecting your finances is you, start doing it.

RE:NY Attorney General Files Appraiser Fraud Suit Against First American

Alan — Fri, 09 Nov 2007 13:00:00 GMT

Question... Who is the lonliest man in America? (besides the Maytag Repairman, of course). Answer.... Honest Real Estate Appraisers Ha.ha.ha

RE:NY Attorney General Files Appraiser Fraud Suit Against First American

Anonymous — Thu, 08 Nov 2007 13:00:00 GMT

What about the other over-inflated appraisals done for other companies? Should you look at those as well? Like HSBC, Franklin Credit, GMAC, etc.....

RE:NY Attorney General Files Appraiser Fraud Suit Against First American

Concerned — Mon, 05 Nov 2007 13:00:00 GMT

I worked w/EAI for 2 yrs and after about the first 6 mons my orders reduced a lot. I refused to do ridiculous 'corrections' to my reports and would not change my analysis. About 5 mons ago, my volume went up and a lot of it was from WaMu. Now it dried up again. It is possible to be on their Proven List and not even know it. It's time for regulation of Do Not Use Lists and disclosure to appraisers of their status with major lenders. The only way to control mortgage fraud if you ask me.

RE:NY Attorney General Files Appraiser Fraud Suit Against First American

akon — Mon, 05 Nov 2007 13:00:00 GMT

conflict of interests -eappraiseIT for First American Corp. Landsafe for Countrywide -Fraud and Fraud.

RE:NY Attorney General Files Appraiser Fraud Suit Against First American

anonymous — Mon, 05 Nov 2007 13:00:00 GMT

I also was a WAMU staff appraiser for over 5 years & have been an Appraiser for 30 years. ROV's were used but only if the agent, borrower loan officer provided new, possibly better sales/lists etc. Most cases did not prove a value change and I did none as did many of my co-workers. eAppraiseIT also did not pressure appraisers that I know of. This does not mean it didnt happen with some appraisers as I also do reviews and there are crooked appraisers out there. This is Cuomos witch hunt.

RE:NY Attorney General Files Appraiser Fraud Suit Against First American

Art — Mon, 05 Nov 2007 13:00:00 GMT

Florida needs an AG like Mr. Coumo, ours listens to the broker who runs Florida's licensing and he has told me he sees "nothing wrong with asking appraisers to make a minimum value" because brokers don't have to follow USPAP. I am on my own because I refused to sign appraisals inflated by the MAI where I used to work, he said I was "too hard to work with." I have been unsuccessfully trying to build a business, but because I won't cave to the pressure I am sure someone has me on a list.

RE:NY Attorney General Files Appraiser Fraud Suit Against First American

Doreen — Sun, 04 Nov 2007 12:00:00 GMT

I've faced appraiser pressure for over 25 yrs in SE Fl. We had a Lot of Subprime lies, cash back at closing, silent second mtgs..... EA sued a FL appraiser whose site said EA opened appraisal files and changed them. Several appraisers got flack for low values, then L/O said, 'oh, thanks for fixing that' and the copy was.... changed! They admitted to opening files "to make minor corrections or to apply our watermark". Denied emergency injunction to close down MortgageFraudWatchList.org -

RE:NY Attorney General Files Appraiser Fraud Suit Against First American

Andrew Snyder, P.S.M. — Sun, 04 Nov 2007 12:00:00 GMT

I am a Land Surveyor specializing in residential real estate for over 20 years. In my attempts to collect my fees from the closing proceeds, I have uncovered "professionals" from all walks engaging in unethical activity and outright fraud. Lenders, Appraisers, Title Agents, and other Land Surveyors. My thinking has always been that most fraud typically stems from unscrupulous individuals... it is appauling to see such widespread illegal activity being deemed as policy by such major players.

RE:NY Attorney General Files Appraiser Fraud Suit Against First American

Tim Vining — Sun, 04 Nov 2007 12:00:00 GMT

This lawsuit is just the tip of the ice-berg regarding manipulation of not only appraisers but the appraisal reports. Data mining the appraisal reports by lenders, appraisal managment companies and others has created an environment of unfair competition, copyright infringement, and unfair trade practices. Lenders such as WA MU and their like have abandoned sound business practices for greed. The cost once again will be borne the American public.

RE:NY Attorney General Files Appraiser Fraud Suit Against First American

Danielle Von Tungeln — Sat, 03 Nov 2007 11:00:00 GMT

To Trevor: So who originated your FHA loans? You know, on those "investment" homes that you state are your primary residences?

RE:NY Attorney General Files Appraiser Fraud Suit Against First American

Anonymous — Fri, 02 Nov 2007 11:00:00 GMT

States' Attorney Generals should file more fraud suits against unscrupulous, corrupt property managers, (who are NOT regulated by anyone), who blatantly lie to appraisers that serious HOA losses have been corrected when they have NOT!

RE:NY Attorney General Files Appraiser Fraud Suit Against First American

1 Appraiser w/integrity — Fri, 02 Nov 2007 11:00:00 GMT

To johnson, appraisers ALWAYS have a choice. Either they are in it for the money, or for the profession, but it cant be both. Not only should they go after WAMU, but go after each individual appraiser and clean the scum from the profession! I knew something was up when I never got another order from WAMU or eappraiseIt after 1 appraisal. Yes, I too have been appraising for 2 decades, and I will STILL be here, when this "cleansing" is over. See, I have nothing to worry about!

RE:NY Attorney General Files Appraiser Fraud Suit Against First American

loan officer — Fri, 02 Nov 2007 11:00:00 GMT

Why are they only going after the appraisal company? why dont they go after WAMU too?