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Join hosts Cliff Perotti and Jonathan Nicholas as they talk real estate values and the challenges of the appraisal system in the U.S. with guest James E. Manning, author of Public Trust Betrayed: The Truth Behind the Real Estate Appraisal Industry.
Manning's new book emphasizes that there must be transparency and objectivity in the mortgage and evaluation process if we are to solve the current credit crisis and what we must change in the financial industry to prevent another economic meltdown. As a result of fraud, conflicts of interest, over-valuations, and lax underwriting standards, the entire lending industry must be examined and changed if any meaningful housing recovery is to be accomplished.
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It's good to talk.