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Here comes that sucking sound.

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Steve Owen, Jun 15, 2007.

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  1. Steve Owen

    Steve Owen Elite Member

    0
    Jan 16, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Missouri
    Bounce...

    http://www.freddiemac.com/news/archives/investors/2007/2006er.html

    Bounce...

    http://www.marketwatch.com/news/sto...01B27-7F12-4012-9CA5-E4232422459F}&siteid=rss

    Thump! Thump! Thump!

    http://www.inman.com/hstory.aspx?ID=63543

    What do you want to bet they manage to find a way to make appraisers take most of the blame?
     
  2. Lawrence R.

    Lawrence R. Senior Member

    0
    Mar 27, 2007
    Professional Status:
    Certified General Appraiser
    State:
    South Carolina
    How much do you want to be we deserve some of it?
     
  3. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    451
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    look fer a lot more. For months, the stock market has been betting that the Fed will "ease interest rates soon"...instead, suddenly as the volitility made painfully obvious last week, the bias is now that the Fed will RAISE rates...and either way, 50% of the bettors will be wrong..that much I bet.
    Derivative bets are almost certain to be badly wrong and Fannie and Freddy stand to lose big time.
     
  4. Pamela Crowley (Florida)

    Pamela Crowley (Florida) Elite Member

    3
    Jan 13, 2002
    Professional Status:
    Retired Appraiser
    State:
    Florida
    Fannie and Freddie could maybe save themselves by forcing buy backs of all those defaulting loans sold to them where the lender knew the appraiser's digital signature had been compromised through AMCs, but apparently 'certified' to the GSE that they didn't know that.
     
  5. Lone Star

    Lone Star Sophomore Member

    0
    Apr 19, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Texas
    Why bother to go through all that work when you can just get your Uncle Sam to bail you out? The path of least resistance will be the one taken.
     
  6. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    451
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    Forced buy backs are what New Century, etc. are toast...you can only squeeze so much juice from a turnip.
     
  7. JSmith43

    JSmith43 Elite Member

    19
    May 5, 2003
    Professional Status:
    Certified General Appraiser
    State:
    California
    When investors get too hard a$$ed in their repurchase strategy, the word gets around and they risk a big hit to their wholesale channel.

    The information I have seen shared is pretty clear cut and not so much rumor based. Forced buy backs are happening all over the place, but if it is not considered to be justifiable.....let's say it is Wisconsinesque:) Then the will have shot themselves in the foot.

    Altering digital signatures stands on it's own as a pretty nasty prospect. Don't any lawyers smell blood and contingent fees?
     
  8. Pamela Crowley (Florida)

    Pamela Crowley (Florida) Elite Member

    3
    Jan 13, 2002
    Professional Status:
    Retired Appraiser
    State:
    Florida
    YES, they do! Coming to a Fed Suit soon.
     
  9. Otis Key

    Otis Key Elite Member

    0
    May 15, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    New Mexico
    Can't wait and it should prover VERYYYYYYYYYY interesting.
     
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