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How appraiser independence turns creditors into cops 

May 05, 2011By

Deep inside every bit of Dodd-Frank there seems to be an embedded piece of ironic contradiction. For example, the Dodd-Frank Act amended the Truth in Lending Act to ensure arms-length transactions in the appraisal process. Now, as a result of recent Federal Reserve revisions to Regulation Z which implements the TILA, the Office of Thrift Supervision revised its examination procedures. The OTS often comes up in the list of bad guys; regulators asleep at the wheel while the big mortgage finance firms motored the economy off a very large cliff.

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