Appraisal Fraud "Common"
The CSMonitor covers the ongoing degradation of appraiser independence. "Real-estate appraiser Karen Long isn't very busy, and she thinks she knows why. 'If you're not going to meet [their anticipated] value, they just walk away and find another appraisal,' says Ms. Long. 'It goes on all the time.'"
This state of affairs has been known for more than a year, yet how much have you heard about reform?
"'There's been an absence of strong federal action to reduce appraisal fraud, even though there's a consensus among professionals in the field that this is a major problem,' says Mr. Callahan of the Demos center."