Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

Mortgage brokers would be expressly prohibited from compensating, coercing or intimidating real estate appraisers to obtain inflated appraisals under legislation proposed by the Colorado attorney general. The legislation, targeted at mortgage fraud, would also prohibit appraisers from knowingly submitting a false home valuation, and subject violators to misdemeanor criminal prosecution for a first offense and felony charges for those with prior convictions. Attorney General John Suthers said in a press release that two state representatives -- one a Republican, one a Democrat -- will sponsor the legislation this session. The bill would also give the state's Division of Real Estate the authority to revoke or deny the registration of mortgage brokers who have been prohibited by any court...