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 May 18, 2007

Appraisers Feel Pressure to Boost Home Values
A recent survey of appraisers finds that they are feeling increased pressure by lenders to boost their estimates of home values.
A stunning 71% of appraisers surveyed stated that they felt mortgage brokers applied pressure to them during this year. This figure is up 63% from 2003. Appraisers also note the pressure from Real Estate professionals has also increased 47% from 2003.

75% of the appraisers surveyed stated that they were subject to negative ramifications if they refused to inflate the value of a home. 68% stated that they have lost clients because of this and 45% reported not getting paid for work done.

Legislation is currently in the works to ensure the integrity of appraiser independence.

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