Sounding Bored is my semi-regular column on the state of the appraisal profession. This time it’s on video.
I caught this on the CBS Evening News last night – about appraisal and mortgage fraud…worth watching.
See the full post on Matrix: [Blackmail & Hot Potato] Appraiser Edition
I was quoted in an article by Emir Efrati of the Wall Street Journal, who has done a great job following the appraisal situation as it unfolds, saying:
“In my opinion, 70% to 80% of appraisals that were done during the housing boom are probably not worth the paper they’re written on because the appraiserswere rewarded with more volume,” said Jonathan J. Miller, a New York appraiser and longtime critic of industry practices. He estimates that home values are overvalued nationwide by at least 10% because of inflated appraisals.
Glenn Beck of CNN read the quote in the WSJ and invited me on the show.
A booker at Fox Business News read my quote in the WSJ above and asked me to speak on the show.