A civil lawsuit naming a behemoth mortgage lender claims employees of the company conspired with a developer to fraudulently inflate appraised values in an exclusive area of Pennsylvania.
Chase Manhattan Mortgage Corp.’s motion to dismiss it as a defendant has been rejected for the second time by a federal judge. The lawsuit contends that Chase and a branch manager William K. Spaner conspired with developer Gene Percudani and former home appraiser Dominick Stranieri to sell the homes at prices in excess of their market value.
