BUSINESS BRIEFING / REAL ESTATE
Times Wire Reports
Los Angeles builder KB Home was sued along with Bank of America Corp.’s Countrywide Financial over claims they conspired to rig appraisals to boost sale prices.
Countrywide, its appraisal unit and KB Home inflated home prices by as much as $2.8 billion in Arizona and Nevada during a three-year period, according to a federal complaint filed in Phoenix.
