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Home arrow News arrow Local arrow THE SABATINO REPORT
THE SABATINO REPORT PDF Print E-mail
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Submitted by Editor   
Tuesday, 06 November 2007
November 3, 2007

 

The Sabatino Report

 

Builders schedule Modesto summit

 

The Building Industry Association of Central will have a summit on Thursday focusing on housing market data, construction forecasts, and land-use policies.  The public is invited at a cost of $50. 

 

Modesto land-use attorney George Petrulakis will moderate discussion with a group of experts on the building industry.  The discussion probably will not benefit the taxpayer.

 

A discussion that benefits taxpayers and consumers would include misconduct on the part of mortgagee brokers, real estate agents, consumers, lenders, and appraisal management companies.

 

California Attorney General Jerry Brown could follow the action of the New York attorney general who sued a leading appraisal management firm.

 

It appears that appraisers are “pressured” by the mortgage, building, and housing industries to provide phony appraisals.

 

Federal legislation is pending that would toughen penalties for those who try to manipulate appraisals

 

A California law signed just last month makes it a crime for anyone with a vested interest in a real estate transaction to try to coerce an appraiser.  This is too little too late.

 

You can listen to and call the Morning Mayor Show daily on AM 840 KMPH at 10 to discuss this issue.

 

There is no charge to the public.  All phone calls are free.

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