What hit me square in the face when I read about these things are the poor people who just wanted to buy a home. Not an investment, but a home they could raise a family in and afford comfortably.
Any family wanting a home in that area during the bubble years had to bid against scammers like this. Add to that the fake inflated appraisals likely adding tens of thousands of dollars to the mortgages of families who purchased in the wake of the scam purchases/appraisals, and the pain grows.
I hope their punishment reflects the broader pain they caused the community.
