Appraisers' Free Forum

**Otis**

http://www.mari-inc.com/pdfs/mba/MBA9thCaseRpt.pdf

Table 5 shows some interesting (to me) numbers. During the height of the sub-prime activity, and before the implosions, there was an increasing number of reported appraisal/valuation frauds and then in 2006 there was a decline.
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santa · Member Joined: 11 Aug 2007 Posts: 205

Otis, you have to read too...you can't just look at the pretty pictures Smile

MARI notes, “The low levels of reporting are typically due to the fact that reported incidents involve more than one type of fraud. If a reporting lender finds misrepresentation in, for example, the verification of employment and occupancy status, that lender is not likely to pay for the review appraisal to verify appraisal fraud, even if the appraisal appears to be inflated. But these numbers are likely to increase as the lengthy process of reappraisal and value-verification is completed in many investigations.”

**Otis** · Posted: Mon Sep 24, 2007 6:31 pm Post subject:

But the pictures are so much better than all that dang reading stuff. Porker

Thought you knew that already. joker

I do agree with you that it will produce a lot more indicators once there are retro appraisals, reviews and other factors (all of which should have been done at the beginning!). Sam

santa · Member Joined: 11 Aug 2007 Posts: 205

OK....I admit it...I like the pretty pictures too...especially the ones you have to turn sideways to view properly Smile

**Annemieke Roell** · Posted: Thu Oct 11, 2007 5:57 am Post subject:

I didn't read the article but I have serious issues with the way MARI deals with reports. They do not appear to be looked into and the appraiser does not get a reasonable chance to rebut.
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**Edd Gillespie** · Certified General Joined: 13 Aug 2007 Posts: 2282

I heard a MARI guy at a conference here. I got the impression they are making money trashing appraisers.
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Edd “In the real estate economy, there are no guarantees that reason will prevail in a market where emotions run high and the amount of misinformation runs deep.” Jonathan Miller in The Matrix. So what’s an appraiser to do?

**Jan Roseberry** · Posted: Thu Oct 11, 2007 8:13 am Post subject: Agree Annemieke . . .

To make it worse it is my understanding that appraiser does not even know which appraisal is being targeted.
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