39% of appraisals contained property quality or condition ratings that conflicted with previous ratings on the same property in the third quarter of 2015, according to a report from Platinum Data Solutions.

For the report, the company analyzed its database of over 300,000 appraisals that were evaluated by RealView, its appraisal quality technology, in Q3 2015.

This infographic shows what the company discovered.

(Source: Platinum Data Solutions)

“More than one in three appraisals contain inconsistencies in property ratings,” said Phil Huff, president and CEO of Platinum Data Solutions. “Causes aren’t easy to determine, so they need to be investigated. Doing this after Uniform Collateral Data Portal (UCDP) submission opens lenders up to numerous issues. Costly delays are just one of them.”

Read on.

A quick note on the subject of criminal prosecution of bankers. The excuse is the four dog defense.

As a refresher, the first part is “I don’t have a dog.” In the case of the mortgage crisis, it started with the banks claiming that trusts, derivatives, mortgage backed securities had nothing to do with the loans. Actually, they were telling at least part of the truth. It was the banks and servicers that brought the foreclosures to the door of homeowners. Then it evolved into “U.S. Bank as Trustee for [either the certificate holders or a named REMIC Trust]”. Now they have gone back to naming the bank as though there was no trust, claiming no securitization.

Part 2 is “OK I have a dog but my dog doesn’t bite.” In the courts this translates as it was “legal” because it was disclosed. In part, that is true. But the…