Industry News

Atlanta appraiser innocent of fraud charges

Trial follows 2005 indictments

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An Atlanta-based appraiser indicted two years ago for her alleged participation in a mortgage fraud ring has been acquitted by a jury. Carla Kinsey was indicted with four others in 2005 who allegedly obtained fraudulent loans totaling approximately $4 million on homes in the Atlanta area. Kinsey, who was 40 years old and an apprentice appraiser at the time of her indictment, was charged with conspiracy, wire fraud and bank fraud after performing appraisals on 10 properties for the alleged ringleader of the mortgage fraud ring, Nathan Parker. Prosecutors alleged the mortgage fraud ring used fraudulent appraisals performed by Kinsey and others to inflate the market value of the properties. Kinsey maintained her innocence, and a jury unanimously voted to acquit her of all charges related to eight of the properties, and could not reach a verdict on charges involving the remaining two properties, the Atlanta Business Chronicle reported. Kinsey's lawyer told the newspaper...