Six-Month Associated Press Investigation - Real-estate appraiser regulation is a failure!
It's finally here. The story that Pamela Crowley has been talking about for months was released by the AP this morning. This, the first in a series written by Pulitzer-Prize winning author Mitch Weiss for the Associated Press says:
" . . .a six-month Associated Press investigation found that the system is crippled by both the bumbling of its policemen and their inability to effectively punish those caught committing fraud."
The appraiser's thread on the Appraisers Forum.com back in January said: "I spent two hours with the Associated Press writer today. His name is Mitch Weiss (awarded the 2004 Pulitzer Prize winner for Investigative Reporting). He is doing a national story on appraisers, appraising, pressure, mortgage fraud, appraisal boards and I suppose related topics."
According to the article, "The AP conducted dozens of interviews and reviewed thousands of state and federal documents . . " in preparing this series.
For the most part, I don't think that appraisers will find anything particularly shocking or new in this article, but insiders tell me that future articles in this AP "Impact Story" series will be BOMBSHELLS!
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