We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

First American, WaMu Inflated Home Appraisals: AG

Law360 (November 1, 2007, 12:00 AM EDT) -- New York Attorney General Andrew M. Cuomo has slapped First American Corp. with a lawsuit for allegedly colluding with Washington Mutual Inc. to inflate the appraisal value of homes.

In a complaint filed Thursday with the New York Supreme Court in Manhattan, Cuomo accused First American and its real estate appraisal management unit, eAppraiseIT, of caving into pressure from Washington Mutual to use a list of “proven appraisers” known for providing inflated results.

Executives at eAppraiseIT knew their actions were illegal, but they intentionally violated the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.