http://mortgage.freedomblogging.com/2009/04/30/senate-rejects-mortgage-cram-downs/985

Discussion in 'General Real Estate and Real Estate Finance' started by moh malekpour, May 1, 2009.

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  1. moh malekpour

    moh malekpour Elite Member

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    May 25, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    http://mortgage.freedomblogging.com/2009/04/30/senate-rejects-mortgage-cram-downs/9859/
     
  2. Denver

    Denver Sophomore Member

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    Feb 22, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Is this the legislation that proposes using BPOs and AVMs for valuations instead of appraisals?
     
  3. Randolph Kinney

    Randolph Kinney Elite Member

    15
    Apr 7, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    It appears the bankers are still in control of the legislative system. A cram down is not to any lender or investor's interest but against it.

    Much like the indemnification of servicers who are changing the terms and conditions as they make loan modifications, no investor will tolerate that.

    Chrysler is going to discover that no investors will ever invest in its debt or equity going forward. It will become a permanent ward of the government and any needed capital will come from the taxpayers.
     
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