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Real Estate Firms Sued For Pressuring Appraisers


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http://www.bloomberg.com/apps/news?pid=206...&refer=home

June 7 (Bloomberg) -- Ohio, the state with the third highest number of foreclosures, sued 10 real estate companies for improperly pressuring appraisers to inflate home values.

It took them quite long to get this started. I think the law cases will mushroom more quickly here, since we are able

to first watch a couple of months in advance how it is done in other countries.

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http://www.bloomberg.com/apps/news?pid=206...&refer=home

It took them quite long to get this started. I think the law cases will mushroom more quickly here, since we are able

to first watch a couple of months in advance how it is done in other countries.

The USA is the home of capitalism, they take stuff like very seriuosly and have laws and procedures dating back centuries, its a different picture here, we have a much more relaxed approach to financial fraud, much less regulated thats why everyone man and his dog want to do business here, no chance of ever getting caught.

This is an intersting development.

http://www.channelregister.co.uk/2007/06/0...is_agency_hack/

Why would a kacker want info on people in the marketing of property, my guess is, this is part of a wider investigation.

Edited by Jimmy2Times
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The USA is the home of capitalism, they take stuff like very seriuosly and have laws and procedures dating back centuries, its a different picture here, we have a much more relaxed approach to financial fraud, much less regulated thats why everyone man and his dog want to do business here, no chance of ever getting caught.

The UK is the home of capitalism,

Ever heard of Enron, Worldcom , Tyco and the great accounting scandals of 2002 ?

Astonishing ignorance,

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The UK is the home of capitalism,

Ever heard of Enron, Worldcom , Tyco and the great accounting scandals of 2002 ?

Astonishing ignorance,

Since the 1800's they have had industrial processes in place and management structures we can only dream of, what do you think drive London, American money and banks, Enron is so recent you are talking about something that happen this morning, if you consider the life of capitalism to be a year old.

Where do you think the Japanese got their financial know how, from the US after the war.

Go back to bed d***head.

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Conflict of interest seems to be built into the system. I'm not sure if it happens to the same extent here--would a mortgage broker be the one hiring a valuer? I'd have expected it to be the lender (though some dodgy lenders are being sued in the USA too, of course). Is there a tranche of UK mortgage lenders that's equivalent to the US sub-prime specialists? (Please don't say, "All of them!") :)

The old adage says that an item is worth whatever someone is prepared to pay for it on the day you want to sell it. Accepting that, the value is set as soon as the punter makes an offer (particularly if the price has been established by multiple bidders). The problem is that the whole notion of value becomes meaningless when people are bidding with expectations, rather than actual money.

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