California Real Estate Fraud Report

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05
Mar

Appraiser gets to keep license despite USPAP violations

Despite evidence to the contrary, appraiser Kirksey J. “Mark” Newton Jr. will not lose his appraiser’s license as the result of complaints against him to the California Office of Real Estate Appraisers (OREA).

Newton had been an appraiser for the now-defunct Crisp and Cole real estate brokerage in Bakersfield and their mortgage brokerage business, Tower Lending. Crisp and Cole is still under federal investigation for possible mortgage fraud, and both David Crisp and Carl Cole had their real estate licenses revoked by the California Department of Real Estate (DRE) in 2008.

Appraisers Gary Crabtree and his son-in-law James Henderson had filed complaints against Newton with OREA, citing multiple instances of appraisals in which Newton had ignored close comparable sales in favor of ones farther away from the subject property, allegedly to be able to manipulate the valuations. The two whistleblowing appraisers indicated disappointment that Administrative Law Judge Samuel Reyes allowed Newton to keep his license even though Real indicated there were “multiple violations of USPAP (Uniform Standards for Professional Appraisal Practice) rules and requirements, including repeated violation of some of the provisions.”

Per Crabtree: “The judge ruled there were multiple violations … including competency, ethics and multiple violations of standards, and in spite of the fact that the respondent has been appraising for over 16 years,” he must learn the “very basics” of real estate appraisal”.

Anyone new to this story can read more on the California Real Estate Fraud Report by searching for “Crisp” or “Cole” in the search box.

Read the full article in the Bakersfield Californian.

© Copyright 2007-2017 Monique Bryher

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