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One of the antiquated computer systems is used to do automated appraisals on one- to three-family homes, which make up 70percentt of all the city's pieces of real estate.
Others, more frequently during the boom years, rely on circles of appraisers who deliver inflated appraisals on demand, and on lawyers paid by the seller but purporting to represent the buyer, and on mortgage brokers, to persuade buyers to take on overpriced and often dilapidated homes.
For instance, Chase now requires two appraisals on Pocono properties.
IF THE camera never lies, you should pay particular attention to the hotel appraisals on Trivop.
Print movie critics declined in influence with the rise of Siskel and /Ebert's thumbs up-thumbs down appraisals on television.
Altogether, Mr. Kelman said, the appraisals on their three houses and an unbuildable lot amounted to more than $2 million.
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Appraisals are another profit center for Countrywide, brokers said, because it often requires more than one appraisal on properties, especially if borrowers initially choose not to use the company's own internal firm.
"At present, we do not know how the attack on the World Trade Center will affect real estate values," wrote Lawrence Sicular, an appraiser for Brown Harris Stevens, in a Sept. 18 appraisal on a three-bedroom co-op on the Upper East Side.
Buyers pay a mortgage initiation fee to cover the cost of an appraisal on the property.
A second appraisal on the property in Tiburon is expected to be completed soon.
"A negative Nice appraisal on trastuzumab emtansine will not affect the availability of this drug via the Cancer Drugs Fund".
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