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Valuation fraud risk spikes

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Mortgage Professional America | 03 Jul 2014, 08:24 AM Agree 0
Mortgage fraud risk was down slightly in the first quarter, but property valuation fraud risk is on the rise
  • BILLY JIM BOB | | 03 Jul 2014, 11:52 AM Agree 0
    "Another contributing factor was the rise in properties “being appraised well above their traditional valuation thresholds,” according to the report."
    In effect you are saying that appraisers who are randomly selected via the HMCC process are "Artificiially" inflating values or are you stating that based on COMPS they are agreeing with inflated (market )values? I don't know any one borrower(OTHER THAN DEVELOPERS) who control the area housing values so are you suggesting saying that there is collusion from institutional owners and appraisers.
    Values are Values based on comps. Random appraisers are random not one appraiser is allowed to appraise all the area so I am really unclear. I think that you mean that SOME HOUSES have exceeded the value parameters from the past....
    Please Clarify your pointy with a reasonable example
  • | | 03 Jul 2014, 02:47 PM Agree 0
    Alarmist rhetoric based upon assumptions and hearsay but no validated proof. What is the agenda behind these reports?
  • | | 03 Jul 2014, 03:41 PM Agree 0
    The agenda is to sell Automated Valuation Products.
  • billyjimbob | | 08 Jul 2014, 11:22 AM Agree 0
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  • Griff | | 09 Jul 2014, 03:30 PM Agree 0
    Valuation fraud??? Huh, didn't HVCC and then AIR fix that? Of course not! All that did was make the consumer pay MORE for a less accurate appraisal. Starting with Cuomo/Fannie/Freddie and all the way thru Dodd Frank anyone in the industry could have told them when folks want to cheat and lie, they will. All we've done is driven professionals out of business while the crooks take over.
  • Fred Glick | | 05 Mar 2015, 12:31 PM Agree 0
  • valquotes | | 18 Mar 2015, 11:09 AM Agree 0
    Thanks for mentioning these points...
  • | | 17 Jun 2016, 01:37 PM Agree 0
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