Morning Cup of Coffee: Countrywide, LandSafe accused of fraudulent appraisals during housing boom monday
Morning Cup of Coffee takes a look at the news coming across the HousingWire weekend desk, with more coverage to come on larger issues monday.
In the run as much as the housing crisis, numerous corners had been cut and guidelines broken for the home loan industry as industry individuals chased the almighty buck. Among the areas that experienced relaxed criteria plus some outright criminal activity had been the assessment industry.
In many cases, loan providers had been making use of handpicked appraisers to inflate the appraised value of a house to secure an increased home loan quantity. After that, it absolutely was simply a concern of what direction to go with all the extra cash.