In Appraisal Shift, Lenders Gain Power and Critics
Thursday, August 20th, 2009 | Uncategorized
Many of you have mention your concern about HVCC. This NYTimes articles does a great job explaining the work that needs to be done before the troubles with appraisals will be resolved.
“The code is a formula for continued problems with fraud,” said David Callahan, a senior fellow with the public policy group Demos who has studied appraisals. “Appraisers have been asking for a long time for a reliable firewall between themselves and lenders, and are further from it than ever.”
http://www.nytimes.com/2009/08/19/business/19appraise.html?pagewanted=3&ref=patrick.net
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