As a former appraiser, I can attest to the level of fraud as being between 90 and 100 percent. Brokers and realtors give appraisers one alternative: Give me the value I want and leave out the bad stuff or don't work. I told them time and again I would not commit fraud, so they readily found another appraiser.
There is virtually no enforcement of appraisal rules and regs because state regulatory agencies are conveniently understaffed and only get income from selling licenses.
And how many appraisers are willing to commit fraud? All of them.
San Diego, CA
Sep 16 2007 - 11:39pm