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.