For Thanksgiving: Be Thankful You’re not this Appraiser

Here is a classic story of appraisal fraud out of Vancouver, Washington.

Carpenter learned in March 2007 that Dodge had been doing appraisals using Carpenter’s name and license number — even appraisals on commercial and million-dollar properties that Carpenter, a residential appraiser, isn’t licensed to do — Carpenter began contacting banks. She wanted to alert them of the fraud and find out how many appraisals had been done in her name, but the effect was that her business dropped off significantly.

There are a lot of fairly depressing anecdotes in this story. And it illuminates, quite nicely, how we got into this financial mess.

  1. Bill Abalos

    You think that’s bad. I found out 4 years after the fact that someone had committed fraud using my name and license and that I was on the MARI hitlist. I only found out because citibank rejected my real estate broker application to do loans with them. I tried to get my name cleared and to this day I am still on the hitlist. Funny thing is that alot of the lenders who subscribe to the list, are themselves under investigation for fraud or have gone out of business. Go figure.