The only thing you need to be a mortgage broker is a briefcase,'' said Hamlin. Those of us who have watched these sorts of things unfold are shocked that all these banks are taking baths and nobody seems to care,'' he said. They just don't fully and vigorously prosecute people who engage in these kinds of scams to make an example of them.'' Rochester appraiser Howard C. Samuel said he turned down a request last year by the Amicos to appraise one of their houses in Penfield. Samuel said he became suspicious of the deal because the asking price for the dwelling ''was way out of line'' compared with similar houses in similar neighborhoods. Samuel and other real estate professionals say the rash of foreclosures on Amico houses is proof of a flaw in the system.
Local legislators concur.
Since the Democrat and Chronicle earlier this year began reporting on the Amico's real estate practices, Koon said, he has ''heard from a lot of people. One of our big gripes is that there are people out there working as appraisers and doing a terrible job, but they stay in business. Copyright 2000 Rochester Democrat and Chronicle. Rochester Democrat and Chronicle.