Letting you know of a recent press release about appraisers involved in a mortgage fraud scheme.
I wanted a quick post to really point to this link. I hope that this would obtain some news coverage, but it may not in Houston. Frequently mortgage fraud involves appraisers. The basic idea in many of these schemes is to inflate the value of a property to create a fake higher value that can be accessed in some way. Appraisers are often involved, since they are setting the home’s value. New rules are helping to prevent pressures on appraisers to falsify their reports; however, these will not stop the bad seeds from attempting to take advantage of the system. The Texas Appraiser Licensing and Certification Board (TALCB) was involved in the investigation into dishonest appraisers. I am glad to know that they are on the job. Here is the press release about this investigation..
Wow, a short post from me feels unnatural. May I take this moment to state that the appraisers which I have met are conscientious individuals, and you have the right to choose your own appraiser.