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SEC Probes WaMu on Appraisal Practices 

Dec 21, 2007By

The Securities and Exchange Commission has opened an investigation into appraisal practices at Washington Mutual, according to a report Friday in the Wall Street Journal. Citing unnamed sources, the Journal says the probe is in its infancy but will include “whether WaMu accurately disclosed to investors of mortgage-backed securities how its loans were appraised as well as whether the company properly accounted for its loans in financial disclosures to investors of the company.”

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