You're missing the point. May appraisers are under the thumb of the mortgage brokers. See http://www.nakedcapitalism.com/2014/12/bill-black-mortgage-appraisal-f

You're missing the point. May appraisers are under the thumb of the mortgage brokers. See http://www.nakedcapitalism.com/2014/12/bill-black-mortgage-appraisal-fraud-baack-bank-execs-profit.html http://www.nakedcapitalism.com/2014/12/bill-black-mortgage-a... [I]n 2007the New York State attorney general sued First American: relying on internal company documents, the complaint alleged the corporation improperly let Washington Mutual’s loan production staff ‘’hand-pick appraisers who bring in appraisal values high enough to permit WaMu’s loans to close, and improperly permit WaMu to pressure …. appraisers to change appraisal values that are too low to permit loans to close” [FCIC 2011: 92].