Industry News

AP: Monitoring of appraisers ineffective

System born from savings and loan crisis not working
Published on Aug 19, 2008

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by CareyBot

A nationwide system set up to monitor appraisers in the wake of the savings and loan crisis did little to prevent appraisers, real estate agents and mortgage brokers from colluding to inflate home prices during the housing boom, the Associated Press said in reporting the results of a six-month investigation.

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