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GSE: McDonalds, AVMS, LendingTree?

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by NC Appraising, Aug 25, 2009.

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  1. NC Appraising

    NC Appraising Senior Member

    0
    Apr 28, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    It's absolutely amazing what one can find, when one is not searching for it. I got a new order from a company that I have never worked for, so typed in the company name, and this is what I find.

    I always tried to stay away from the black helicopter stories, but they seem to have some teeth.


    This is very old stuff, but it is relevant, and helps to explain how we got here. Learn from our mistakes.

    MBA is also mentioned in the recent NY Times article about how they influenced the changes in the HVCC.

    If nothing else, it's gives an over view of how the system works, and in their opinion how it's broken.


    "MBA that there should be boundaries between the primary and secondary mortgage markets and limitations to the powers and activities of Fannie Mae and Freddie Mac"

    "References to certain events, such as the commercial loan to Lending Tree"

    "Deployment of automated valuation models which crowd out competing systems that compute appraised value; "

    "GSE agreement with McDonald's to provide electronic kiosks for consumer mortgage information "

    "GSE commercial loan to Lending Tree electronic broker "


    "GSE development of proprietary technologies as a separate for-profit business line rather than also developing or approving third-party standards for risk management and other functions "

    http://www.mortgagebankers.org/documents/newslink/Letters/MBAMemberLetterSenate.pdf
     
  2. Workbox

    Workbox Elite Member

    2
    Mar 2, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Colorado
    I wonder how many of those companies are still around?:icon_mrgreen:
     
    Last edited: Aug 25, 2009
  3. Mike Kennedy

    Mike Kennedy Elite Member

    181
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    Consumer Confidence, Reality, and Credibility be damned!! The mindset which espouses that an Appraisal and an AVM are perceived as no different than a Big Mac to be doled out from an ATM-like machine as a retail product which should cost no more than that Big Mac - continue to intentionally misguide and mislead the American Consumers via Lobbyist-elected Representatives who often forget they once lived on Main Street.
     
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