The Daily Outrage: Lax regulation

Lax regulation: Inflated real estate appraisals going unchecked

WHO: State and federal regulators

WHAT: Authorities at both the state and federal level have routinely failed to investigate and resolve complaints about real estate appraisers providing false or inflated property appraisals, according to an Associated Press report.

WHY IT’S A BAD IDEA: Inflated real estate appraisals played a key role in the current mortgage crisis and in the savings and loan crisis of the 1980s financial meltdowns that have cost taxpayers millions.

WHY THEY’RE DOING IT: Sometimes, the relevant state offices are so understaffed they don’t even have an investigator. Federal officials have chosen not to act because the tools available to them would effectively halt all lending in a given state.

WHERE TO VENT: Congress enacted reforms after the last housing crisis in 1989, but failed to provide adequate funding or enforcement mechanisms.

OpinionOther Opinion

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

San Francisco Park Rangers have seen their budget and staffing levels increase significantly since 2014. (Kevin N. Hume/S.F. Examiner)
Citations for being in SF’s public parks after midnight soar

Data shows disproportionate impact on Black residents

Parents and students line up socially distanced before the first day of in-person learning at Bret Harte Elementary School on Monday, April 12, 2021. (Kevin N. Hume/S.F. Examiner)
‘It’s a beautiful sight’: The first students return to the classroom

San Francisco’s youngest public school students stepped into classrooms for in-person learning… Continue reading

File
Latest Breed nominee for Police Commission moves forward

Immigration attorney Jim Byrne clears Board of Supervisors committee

A rally at Golden Gate Park on Sunday April 11 drew a large crowd in support of calls to keep JFK Drive closed to traffic. (Emily Huston/Special to the S.F. Examiner)
Hundreds rally for “JFK Thrive,” not JFK Drive

By Emily Huston More than two hundred gathered on a warm Sunday… Continue reading

San Francisco Giants pitcher Anthony DeSclafani (26) starts against the Colorado Rockies at Oracle Park on April 11, 2021 in San Francisco, California. (Photography by Chris Victorio | Special to the S.F. Examiner).
Giants finish sweep of Rockies behind DeSclafani’s scoreless outing

Even with fans back at Oracle Park, San Francisco Giants pitchers have… Continue reading

Most Read