MORTGAGE PROBLEMS EXPLAINED
MORTGAGE PROBLEMS EXPLAINED,  by the CHAPS! ; web archive org/web/*/www appraiserspetition com 209 85 129 104/search?q=cache:dntGQjKsKbYJ:appraiserspetition com/+appraisers+petition hl=en ct=clnk cd=1 Appraisers Petition 2002 Concerned Real Estate Appraisers from across America Submit the attached petition Which was posted on appraisersforum com : To: Mr Ben Henson Executive Director Appraisal Subcommittee ASC Federal Financial Institutions Examination Council email: benh1asc gov cc: Other state or federal agencies with authority in the following matter The ASCs mission is to ensure that real estate appraisers who perform appraisals in real estate transactions that could expose the United States government to financial loss are sufficiently trained and tested to assure competency and independent judgment according to uniform high professional standards and ethics From the ASC website The concern of this petition has to do with our independent judgment in performing real estate appraisals We the undersigned represent a large number of licensed and certified real estate appraisers in the United States who seek your assistance in solving a problem facing us on a daily basis Lenders meaning any and all of the following: banks savings and loans mortgage brokers credit unions and loan officers in general; not to mention real estate agents have individuals within their ranks who as a normal course of business apply pressure on appraisers to hit or exceed a predetermined value This pressure comes in many forms and includes the following: the withholding of business if we refuse to inflate values the withholding of business if we refuse to guarantee a predetermined value the withholding of business if we refuse to ignore deficiencies in the property refusing to pay for an appraisal that does not give them what they want black listing honest appraisers in order to use rubber stamp appraisers etc We request that action be taken to hold the lenders responsible for this type of violation and provide for a penalty on any person or business who engages in the practice of pressuring appraisers to do dishonest appraisals that do not provide for independent judgment We believe that this practice has adverse effects on our local and national economies and that the potential for great financial loss exists We also believe that many individuals have been adversely affected by the purchase of homes which have been over valued We thank you for your cooperation and assistance Sign this Petition Your name and any comments you make will be added to those below: Signed by: PS Alan! HOW DARE YOU TO TELL PEOPLE YOU DID NOT KNOW THAT LOW INTEREST RATES WOULD LEAD TO HOUSING BUBBLE!