Feds Ramp Up Efforts to Combat Appraisal Fraud

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A federal agency is working to combat appraisal fraud. James Lockhart, director of the Office of Federal Housing Enterprise Oversight, talks to Liane Hansen about the agency's efforts to strengthen the independence of the appraisal process.

The OFHEO is working with New York State Attorney Andrew Cuomo, as well as Fannie Mae and Freddie Mac.

Peter Barash, a lobbyist for the American Society of Appraisers, also discusses the issue.

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