Some of those arrested under one company name moved to another and practiced their deceptive craft under another label. Two of the women arrested opened their own company, and I remember thinking that no one was supervising them.
When will greed become unattractive?
Everyone involved played a part; the home seller who sold at top dollar, Realtors who helped sellers price their home to get top dollar–including me; the Realtors who represented buyers and worked with unscrupulous lenders and their team of appraisers, processors and underwriters who made sure the mission succeeded. Everyone involved benefitted.
Sadly, everyone demanded that the lending community find a way for buyers to purchase homes at escalating prices. Human nature created this problem. The system allowed it.
These apples don’t fall far from any tree.
Kay Wilson-Bolton has been in full-time real estate since 1976.