The wheels of justice roll very slowly, but sometimes they find traction. The recent fraud indictments against a rehabber/flipper, a bank, appraisers, and a title company, acting in collusion, had tongues wagging in Akron. Unfortunately, the people whose houses are in foreclosure probably will not get much comfort from this. The story is at:
http://www.ohio.com/news/top_stories/12665796.html
and pictures of the indicted are here :
http://media.ohio.com/documents/Evergreen.pdf
Back in my May 7, 2007 post, I mentioned some of the appraiser discipline notices in the Ohio Division of Real Estate Newsletter (Winter 2007). It appears that the Division has only published two of the quarterly newsletters this year, but they have been busy. The Summer 2007 issue describes the penalties handed out to 27 appraisers who were allowed to stay in business, and three others who were forced to surrender their licenses because of misconduct. It used to be a rare occurrence when an appraiser lost his license, but the Division is working with the Ohio Attorney General, and I don't doubt that there may also be some criminal charges associated with some of these cases.
The Division Newsletter is at:
http://www.com.state.oh.us/real/documents/2007Summer.pdf
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