More On California Appraiser Fighting Mortgage Fraud

The Bakersfield Californian reports:

• "Last week, local appraiser Gary Crabtree told The Californian that he has documented about 20 suspicious local home sale transactions in the last year -- and that the number has since grown to more than 50 as news of his allegations spread. He has referred some of them to the FBI, California Department of Real Estate and California Office of Real Estate Appraisers."

According to Detective Frank Wooldridge, who handles real estate fraud cases and other financial and white-collar crimes for the Bakersfield Police Department, "It is very prevalent and it will become more prevalent. There is real estate and mortgage fraud going on in this town. To say it is not, you are just missing the boat."

For more, see Loan fraud cases rising (Officials confirm that mortgage scams occur in Bakersfield market). Click here for other posts on this story.

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