Grifting Appraisers Warned By Real Estate Institute
Cyrus Barrett Jr reports a reader letter about a fraudulent licensed appraiser offering inflated values for fees. The American Institute of Real Estate Appraisers warns investors and lenders to verify MAI endorsements and avoid fees for fake appraisals. A Virginia case shows a church and school mortgage seek, with a phony MAI letter inflating value and charging $9,000 in fees.
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MAL
American Institute of Real Estate
A.sr.a
Sando
MAI
M.A.E
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