6/17/2014 Legal News
From: www.valuationreview.com
Pennsylvania appraiser convicted by federal jury for inflated appraisals.
A federal jury in Pennsylvania handed down its decision June 11 in a mortgage fraud case in which an appraiser was accused of providing fraudulently inflated appraisals. After deliberating for nearly five hours, the jury found James Lignelli of Presto, Pa., guilty of three counts of bank fraud, according to a June 11 announcement by the U.S. Attorney’s Office for the Western District of Pennsylvania.
Proof that the consumer needs someone to review their appraisals before they close on their loans.
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