NYAG, Fannie, Freddie, OFHEO agree to combat appraisal fraud

April 2008
Mortgage Banking;Apr2008, Vol. 68 Issue 7, p10
The article reports on the move of various institutions such as the New York State Attorney General (NYAG), Fannie Mae, Freddie Mac and the Office of the Federal Housing Enterprise Oversight (OFHEO) to come into an agreement which aims to combat appraisal fraud in the U.S. According to the article, the move is also intended to implement and monitor new appraisal standards. Among the provisions in the deal include eliminating broker-ordered appraisal as well as reducing its use.


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