1. Welcome to AppraisersForum.com, the premiere online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Freddie Mac Ceo Resigns

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Mike Kennedy, Mar 2, 2009.

Thread Status:
Not open for further replies.
  1. Mike Kennedy

    Mike Kennedy Elite Member

    453
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    Last edited: Mar 2, 2009
  2. hglenbetts

    hglenbetts Senior Member

    7
    Dec 3, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Michigan
    Probably getting a job in the Oboma administration overseeing the repair of the housing/banking crisis.:new_all_coholic:
     
  3. Mike Kennedy

    Mike Kennedy Elite Member

    453
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    The beginning of his Downfall ?? - more of the same Wizard of Ozidry that got both Fannie & Freddie in the hurtlocker in the first place......

    http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aTu9HA5cZgQ4

    "While Fannie Mae, smaller rival Freddie Mac and the companies’ regulator are considering permitting borrowers to refinance even when the consumers owe more than their homes’ worth, they also must consider “the various hurdles and unintended consequences,” Federal Housing Finance Agency Director James Lockhart said in a Feb. 2 interview.

    leveraging our automated risk assessment capabilities to validate the current market values in lieu of traditional appraisal or property inspection requirements.”

    (while cited for Fannie, undoubtedly the same "theory" applicable to both GSEs)
     
    Last edited: Mar 2, 2009
  4. GCJim

    GCJim Senior Member

    11
    Dec 11, 2007
    Professional Status:
    Certified General Appraiser
    State:
    New Jersey
    As a generally very optimistic guy (until recently), I believe this confirms without a doubt that BOTH Fannie & Freddie are much bigger and deeper cesspools than we originally thought.
    PS - I REALLY want to know what Cuomo has on them, in addition to what we already know.
     
  5. Peter LeQuire

    Peter LeQuire Elite Member

    323
    Jan 3, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Tennessee
    An interesting indicator of the health of Freddie/Fannie might be executive compensation as a percentage of actual losses during the tenure of the retiring executive.
     
  6. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    Top Poster Of the Month

    932
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    He said he wanted to resume his old career. Since his salary is capped, he wants to go somewhere to earn the big bonuses...as if he is worth it....maybe he is. Or, maybe the village idiot could do his job.
     
Thread Status:
Not open for further replies.

Share This Page