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Mortgage Crisis Watch Business and legal issues affecting: loan repurchases | mortgage-backed securities | mortgage insurance

Tag Archives: FRAFing

Banks’ After-The-Fact Appraisals Fuel Buyback Demands

Justin T. Hilley  of HousingWire.com reports that audits done by Quality Mortgage Services (“QMS”) “indicate that many demands by financial institutions that lenders buy back mortgages are based on fraudulent appraisal schemes in an attempt to increase the success of repurchase claims.” According to Hilley’s report, QMS “believes some appraisers are systematically being pressured to use a… Continue Reading