Think lender pressure on appraisers is a distant memory? Think again. Here is some commentary on a new report that indicates appraisal fraud is up 50% over the past year. It is laid out in Kenneth Harney’s excellent column in the Washington Post.
I also provide commentary on a recent episode with a bank client we now refuse to work with who pressured our firm to raise the appraised value of a property or they would not pay us for services already rendered.
In fact, they didn’t really understand what they were saying.