Category Archives: Real Estate

FDIC Filing MBS Lawsuits Based on “Appraisal Defects”

by admin Posted on April 15, 2012

FDIC Filing MBS Lawsuits Based on Appraisal Defects as Determined by AVMs By Peter Christensen Excerpt: The FDIC’s complaint in this case is virtually identical to the dozens of other MBS complaints against mortgage originators and aggregators filed by pension … Continue reading →

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Judge signs $25 billion foreclosure settlement

by admin Posted on April 15, 2012

Excerpt: The agreement with the 49 state attorneys general, the Justice Department and the Department of Housing and Urban Development settles a wide-range of foreclosure abuses from improperly prepared affidavits to allegedly forged notarization signatures and botched modification attempts. The … Continue reading →

Posted in Real Estate | Tagged appraising, fraud, lenders, lending, RE Fraud | Comments Off

Home prices to rebound in 2013

by admin Posted on February 15, 2012

Fiserv Case-Shiller: Home prices to fall 1% in 2012, rebound in 2013 “The double-dip in home prices that began two years ago continued through the third quarter of 2011, according to the Fiserv (FISV: 62.89 +0.45%) Case-Shiller Indexes released Monday. … Continue reading →

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AMC Tax Evasion and RESPA Violations

by admin Posted on February 12, 2012

The National Association of Independent Housing Professionals (NAIHP) recently announced that many Appraisal Management Companies (AMC’s) are operating without authority in most states and have failed to pay state income taxes. No surprise here. I’ve written extensively about the mendacity … Continue reading →

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Lack of Lending to Creditworthy Borrowers Restricting Housing

by admin Posted on February 10, 2012

“Fed Chairman Ben Bernanke, speaking Friday at the International Builders Show in Orlando, Fla., said the wave of creditworthy households that are finding it difficult to obtain mortgage credit or to refinance is resulting in actions taken by the Federal … Continue reading →

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Fraud in Real Estate – “Hide the Concessions”

by admin Posted on November 16, 2011

Here’s an example of an illegal practice that still goes on after everything that has happened in the housing market. This condo is listed for $579,000 in Millbrae, CA. There’s a nice little video that tells you that if you … Continue reading →

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Neutral Valuation

by admin Posted on October 1, 2011

Written by Jonathan J. Miller, CRE CRP Excerpt: “As a real estate appraiser for the past 25 years, I’ve always viewed my role as a provider of a neutral valuation benchmark for clients to become empowered to make more informed … Continue reading →

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Bank of America to pay whistle-blower $930,000

by admin Posted on September 20, 2011

Excerpt: “It’s clear from our investigation that Bank of America used illegal retaliatory tactics against this [Countrywide] employee,” said OSHA Assistant Secretary David Michaels. “This employee showed great courage reporting potential fraud and standing up for the rights of other … Continue reading →

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Fraud in Real Estate – Corrupt City Employees

by admin Posted on September 18, 2011

“St. Petersburg City Employees Encourage False Real Estate Appraisals” Excerpt: “A 10 News Investigation into recent land-buys by the City of St. Petersburg indicates employees in the city’s real estate department are influencing the appraisal values of properties they plan … Continue reading →

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A Good Idea

by admin Posted on September 15, 2011

Government Should Convert REOs to Rentals Excerpt: “The government’s plan to dispose of the more than 250,000 foreclosed homes in its portfolio needs to include women and minority business owners and skew toward converting the properties to short-term rentals, according … Continue reading →

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Mortgage Industry Could be Headed for Deconsolidation

by admin Posted on September 15, 2011

Excerpt: “Before the housing bubble burst, many believed the nation’s five biggest banks would control 90 percent of U.S. mortgages, but some experts now believe mid-size lenders will have greater opportunity to enter the market, National Mortgage News reported Aug. … Continue reading →

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Mortgage rates fall to lowest level since 1950s

by admin Posted on September 14, 2011

Excerpt: …But few Americans can take advantage of the rates to refinance or buy a home. The average rate for a 30-year fixed mortgage fell to 4.12%, from 4.22%, Freddie Mac said Thursday. That’s the lowest level on records dating … Continue reading →

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U.S. sues 17 banks over MBS sold to Fannie, Freddie

by admin Posted on September 5, 2011

Excerpt: “The Federal Housing Finance Agency sued 17 banks Friday, seeking damages from the sale of soured mortgage-backed securities to Fannie Mae and Freddie Mac. The banks include Bank of America and its two acquisitions Countrywide Financial Corp. and Merrill … Continue reading →

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National Appraisal Firms Said to Roadblock Home Mortgages

by admin Posted on August 30, 2011

Excerpt: “The trouble with appraisal management companies is that many of the appraisers they contract are not local and not familiar with the area, said Claudine Claus, president & CEO of Home Financing Center, one of the largest independent, privately-owned … Continue reading →

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Appraisal Management Companies Create More Problems Than They Solve

by admin Posted on August 15, 2011

From American Banker, Excerpt: “Imagine needing a medical doctor and having to go through an intermediary who will decide which doctor you may visit, and that doctor is chosen primarily on his fee charged, not expertise.” “Consumers are paying more … Continue reading →

Posted in Real Estate | Tagged AMCs, appraising | Comments Off

Category Archives: Real Estate

FDIC Filing MBS Lawsuits Based on “Appraisal Defects”

Judge signs $25 billion foreclosure settlement

Home prices to rebound in 2013

AMC Tax Evasion and RESPA Violations

Lack of Lending to Creditworthy Borrowers Restricting Housing

Fraud in Real Estate – “Hide the Concessions”

Neutral Valuation

Bank of America to pay whistle-blower $930,000

Fraud in Real Estate – Corrupt City Employees

A Good Idea

Mortgage Industry Could be Headed for Deconsolidation

Mortgage rates fall to lowest level since 1950s

U.S. sues 17 banks over MBS sold to Fannie, Freddie

National Appraisal Firms Said to Roadblock Home Mortgages

Appraisal Management Companies Create More Problems Than They Solve

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