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Alleged inflated appraisals fuel RESPA case
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Two plaintiffs sued First American eAppraiseIT, alleging the company conspired with Washington Mutual Bank and Lender’s Service Inc. to inflate the appraised value of their properties so that Washington Mutual could sell the security interests attached their mortgage loans at an inflated price and violating RESPA Section 8. They also filed a motion for class certification, which the court granted.
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