http://realestateappraisertips.info/ – Business Week Says Housing Appraisals May Still Be Blowing Bubbles
RECOMMEND READING: There’s an interesting article by Business Week regarding Home Appraisers! Pam Crowley is featured here!
An AMC sued appraiser-turned-gadfly Crowley to try to muzzle her online criticism of the company. She won
“Third-party appraisal managers are supposed to eliminate pressure from lenders to inflate housing values. But unscrupulous subprime players are crowding into the market – Faced with investigations and lawsuits, the home-finance industry has agreed to a government-approved code of conduct for appraisals that takes effect on May 1. The new rules promote the use of middlemen between the nation’s 60,000 freelance appraisers and the lenders and brokers. The middlemen, known as appraisal management companies, or AMCs, are supposed to prevent lenders and brokers from pressuring appraisers to exaggerate assessments. But among those joining the swelling ranks of this formerly niche business are some of the same subprime players that helped inflate the real estate bubble in the first place. “ As quoted directly from the Business Week article below:
Business Week: Housing Appraisals: Still Blowing Bubbles?
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