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MBA calls for elimination of Fannie&Freddie-Washington Report/Realty Times

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Mike Kennedy, Sep 15, 2009.

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  1. Mike Kennedy

    Mike Kennedy Elite Member

    59
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
  2. JSmith43

    JSmith43 Elite Member

    18
    May 5, 2003
    Professional Status:
    Certified General Appraiser
    State:
    California
    Good link, Mike.

    And a good idea, except for the MBA government guarantee to investors principle and interest payments that they propose.

    The part they got right is that F & F should be privatized, broken up like Ma Bell.

    Hopefully, that would be the end of the tyranny of the F & F certs, etc. If this is done right, then the battles will look more like format wars between Blu Ray & HDDVD and flare up often.

    In order to attract investors at a reasonable rate without federal govt guaranteeing P & I payments, the products offered will need to be soundly underwritten, because the investors $$ would actually be at risk this time.
     
  3. Mike Kennedy

    Mike Kennedy Elite Member

    59
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    ...the part they got dead wrong is MBA OWNERSHIP of "whatever comes after"
     
  4. JSmith43

    JSmith43 Elite Member

    18
    May 5, 2003
    Professional Status:
    Certified General Appraiser
    State:
    California
    Oh crap. Do I have to watch that clip again?:icon_mrgreen:

    I didn't notice that assertion. However, if it was just their inference, it won't happen, Mike. Not with investor money actually being at risk.

    Some of the competing baby F & Fs may actually eliminate the "bullseye" or insist on reports that are more predictive in nature, with a SOW that requires far more in depth market analysis and less emphasis in point value estimates. In fact, they might want a range of value forecast for a specified future time period after closing as the primary MV opinion.
     
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