Extending Fiduciary Standard to Real Estate Appraisers Would Increase Costs for Investors
January 20, 2011
Pension funds and other institutional entities that invest in mortgage-related assets will face higher costs and likely receive lower-quality appraisal services if the Department of Labor proceeds with a proposed rule that would extend fiduciary responsibilities to real estate appraisers, according to two industry groups. “Our organizations are deeply concerned...