Not all happy with new work rules governing appraisers, brokers

Duggan, Daniel
July 2009
Crain's Detroit Business;7/20/2009, Vol. 25 Issue 28, p11
The article focuses on the residential appraisal industry and the nexus between appraisers and mortgage brokers. Craig Hufnagel, an appraiser in the Troy office of Cook, Pray, Rexroth & Associates LLC, who has been hired in the past to investigate bad appraisals, said that it was blatant fraud, but nobody cared. On May 1, 2009 the Home Valuation Code of Conduct, for all loans sold to Fannie Mae or Freddie Mac, went into effect.


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