El Paso Appraiser Pays $100,000 and Surrenders His License to Resolve Allegations of Falsely Certifying Home Appraisals

U.S. Attorney’s Office – Western District of Texas, Apr. 23, 2021

Daniel O’Leary, manager and registered agent for El Paso Asset Appraisals, LLC, d/b/a/ Asset Property Management, paid a $100,000 civil penalty yesterday to settle allegations that he falsely certified home appraisals performed by uncertified assistants.  These appraisals were subsequently relied upon by the Federal Housing Administration (FHA) in insuring home mortgage loans.  In addition to payment of the civil monetary penalty, O’Leary has agreed to surrender any Appraiser’s licenses he maintains in the State of Texas, or any other state, for a period of five years.

U.S. Attorney Ashley C. Hoff; Catherine Huber, Special Agent in Charge of the Central Region of the Federal Housing Finance Agency, Office of Inspector General (FHFA-OIG); Bertrand Nelson, Special Agent in Charge, Department of Housing and Urban Development, Office of Inspector General (HUD-OIG); and FBI Acting Special Agent in Charge Jeffrey Coburn made today’s announcement.

“Regulations requiring certified appraisals before a home mortgage is guaranteed by the FHA are in place to protect consumers and taxpayers” said U.S. Attorney Hoff.  “Any time someone tries to circumvent those regulations for personal gain it places consumers and the FHA program at risk.”

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