| Appraiser sues largest thrift
Veteran real estate appraisers have complained bitterly for years about loan officers' demands that they fudge and inflate numbers to allow mortgage deals to close. But now a California appraiser has filed suit against the country's largest thrift institution, Washington Mutual Bank, charging that she was blacklisted for refusing to provide favorable appraised values despite declining market conditions. The suit by Jennifer Wertz comes just two months after the state of New York sued an appraisal management company, First American eAppraiseIT, for allegedly giving in to pressure from Washington Mutual to inflate property values for loan applications -- thereby contributing to mortgage market losses. EAppraiseIT and LSI, a unit of Fidelity National Information Services, were also cited in Wertz's suit as contractors to WaMu.
Amazing Case of Loan and Mortgage Fraud
Loan and mortgage fraud is becoming big business across the country and crooks continue to find new ways to take advantage of almost anyone and steal any identity. Eyewitness News has uncovered an amazing case that involves a victimized grandmother in San Diego, a failing Los Angeles loan company and a Las Vegas man who doesn't care who he hurts. This scheme shows the terrible power of shifty loan sharks and identity thieves. They will stop at nothing to fabricate documents and take advantage of Clark County's legal loopholes. It's a case that took Eyewitness News to the coast of California but it begins at a run-down house in east Las Vegas. "I'm struggling right now," said Paul Mangione who admits he's on a slippery slope toward self-destruction.
LandAmerica to Replace Documents at No Charge and Offer a Discount on ...
RICHMOND, Va., Nov. 2 /PRNewswire-FirstCall/ -- LandAmerica Financial Group, Inc. (NYSE: LFG) , Fortune magazine's number one Most Admired Company in the mortgage services industry, announces that it will replace recorded mortgage documents, property tax information, recorded deeds, and tax assessor maps at no charge for homeowners who lost their homes in the recent fires in Southern California. "Among LandAmerica's Guiding Principles are Teamwork and Responsible Corporate Citizenship. We are grateful for the brave team of volunteers and firefighters who fought these horrific blazes, and we offer our help to property owners who are recovering from the fires' destruction," said Margaret Foster, LandAmerica's Executive Vice President for the West Region. LandAmerica is also offering California fire victims loan policies at 50 percent of its basic insurance rate to repair or replace property damaged by the fires.
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