Washington Mutual Appraisals Investigated by the SEC

lawyersandsettlements.com -- December 21, 2007

Seattle, WA: The Securities and Exchange Commission (SEC) is now investigating allegations about Washington Mutual's practice of inflating home appraisals. The SEC's investigation will look at whether WaMu accurately told investors how its loans were appraised and whether the company's loans were properly disclosed to investors.

WaMu has said that it will fully cooperate with the SEC inquiry. The company has come under fire recently for allegedly pressuring appraisers to inflate the values of homes in order to close more home loans.

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