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Released: May 01, 2010

Appraisal fraud jumps, despite tightened rules

Source: Kenneth R. Harney, Washington Post (Free Registration)

For anyone who assumed that the toughened real-estate appraisal rules imposed on the mortgage market last year would mean less monkey business in home valuations, here’s a shocker: Fraudulent appraisals soared in 2009, according to a lending-industry study released this week, and they now represent the fastest-growing form of home loan fraud.

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