Fannie Mae Cracks Down on Inflated Mortgage Appraisals - 2004-01-13
Cash-out refinancings have been a dream that became reality for many homeowners and mortgage bankers. But some of the cash individuals took out of their homes may be, in fact, a mirage as the booming market led some appraisers in the rush for business to overstate home values.

Exaggerated appraisal values have raised concerns at Fannie Mae (FNM, news), the largest buyer of mortgages in the nearly $7 trillion mortgage market.

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Read the full story at Quicken

California sues mortgage company - 2004-01-13
California's attorney general on Monday launched a lawsuit against a Florida-based mortgage company, citing the company violated the Federal Trade Commission's Do-Not-Call law. The suit is the second the state has filed since federal no-call laws went into effect in October.

More than 250 Californians have lodged complaints about L.M.A. Marketing Inc., doing business as Mortgage Concepts, according to the attorney general's office.
Read the full story at Inman.com