Appraisal Fraud up 46%
According to InterThinx.com, the mortgage fraud specialists, appraisal fraud is up 46% from the same time in 2008.
But wait, who would be the perpetrators, has not HVCC made us safe? Thanks to HVCC, Mortgage brokers, those evil, underhanded, self-serving scourges of real estate and sole cause of the mortgage crisis have not been able to order appraisals (except FHA) or even talk to appraisers in the third quarter of 2009.
That leaves (choke) the innocent victims of wicked mortgage brokers, Banks. There must be some mistake because we all know that banks would never do anything underhanded. I am sure we will soon learn, probably from a trusted politician, that, possibly, the cause was appraisers still tainted by previous mortgage broker contact. These appraisers will certainly be sent to rehab at taxpayer expense. Soon, thank goodness, due to vigilent efforts of our trusted banks and politicians, the world will be a better place. Banks will be the only ones left to serve the public with by stifling their competition in the name of mortgage reform. A 2005 Georgetown University study shows that loans originated by brokers cost 1.13% less points than those originated by bank employees… so that’s the road we’re headed toward apparently: Less choice at a higher cost. Seems to be the HVCC way!!!
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