Appraisal Scoop UPDATE: NEW YORK (Thomson Financial) - Washington Mutual Inc. Thursday suspended its relationship with eAppraiseIT, a unit of First American Corp., citing a lawsuit filed New York State Attorney General Andrew Cuomo.
From the Washington Mutual website: --Nov. 1, 2007 --
We are surprised and disappointed by the allegations in the complaint related to eAppraiseIT. We are suspending our relationship with eAppraiseIT until we can further investigate the situation.
We have absolutely no incentive to have appraisers inflate home values. In fact, inflated appraisals are contrary to our interests. We use third-party appraisal companies to make sure that appraisals are objective and accurate.
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