BANKING & FINANCE - May 5, 1992
From Times Staff and Wire Reports
RTC Appraisers Assailed: The General Accounting Office said its analysis indicates that 69% of the Resolution Trust Corp.’s review appraisers don’t appear to be adequately qualified for their positions because they lack appraisal experience. The GAO faulted the thrift bailout agency for not having adequate hiring standards or criteria for the positions. According to the GAO, the RTC so far has ordered more than 100,100 appraisals for real estate under its control. The congressional watchdog agency said highly qualified appraisers are needed to protect the government’s interest in valuing and selling assets.
