Tuesday, March 09, 2010
11:59 AM Texas Time
Appraisers Oppose Short-Sale Plan
BPOs on HAFAs at issue with four appraisal trade groups
A coalition of appraisal groups led by the Appraisal Institute announced a letter addressed to U.S. Department of the Treasury Secretary Timothy Geithner.
The groups are concerned about short sales being promoted under the Home Affordable Foreclosure Alternatives.
The appraisers claim that the use of broker price opinions in short sales, as allowed by the Obama administration, "will not adequately protect the public interest" or interests of lenders and servicers.
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