EL PASO, Texas (KTSM) – An El Paso home appraiser gave up his five-year license to investigate allegations that he falsely certified home appraisals by non-certified assistants.
Daniel O’Leary, manager and registered agent of El Paso Asset Appraisals, LLC, also paid a civil penalty of $ 100,000.
These assessments were later used by the Federal Housing Administration (FHA) to insure mortgage loans.
“Regulations that require pre-mortgage certified appraisals are guaranteed by the FHA
are in place to protect consumers and taxpayers, “said US attorney Hoff. “Anytime someone
trying to circumvent these regulations for personal gain exposes consumers and the FHA
Program in jeopardy. “
The HUD-OIG, FHFA-OIG, and the FBI are investigating this matter with assistance from Texas
Appraiser Licensing and Certification Board (TALCB). The investigation under this law
Law enforcement agencies revealed evidence that judgments were confirmed as such
performed by Mr. O’Leary on dates when he was traveling out of the state or out of the country.