California Real Estate Appraiser Fights Mortgage Fraud

KGET-TV Channel 17 in Bakersfield, California and The Bakersfield Californian report that local real estate appraiser Gary Crabtree, President of Affiliated Appraisers is conduting his own battle against mortgage fraud by compiling and submitting to the California Department of Real Estate and the FBI documented evidence of suspicious activities in over 30 cases of suspected mortgage fraud, involving inflated appraisals, shaky lending practices, and cash kickbacks to buyers, sellers and real estate agents in Bakersfield. Reportedly, Mr. Crabtree said:

• "he began tracking the questionable transactions so he wouldn’t use them as comparable properties when doing appraisals"
• "word is out in local real estate circles that he has provided information to agencies about potential improprieties"
• "he has lost business as a result and others in the industry have stopped talking to him for fear of being implicated."

For more, see:

• Appraiser: local fraud rampant (Authorities alerted about suspicious mortgage cases), and
• Local appraiser leads charge against mortgage fraud
• Go here for Channel 17 Video.

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