Hybrid

[George Hatch]

Even if it could be said that Fannie doesn't know what it's getting, whose fault would that be? It would be their own fault.

Fannie/Freddie could decline to buy hybrid-backed mtgs *today* if they were worried about them. If we're worried about the GSEs being misled we could pick the phone up today and alert them to this heretofore unknown risk.

 

[bnmappraisal]

View attachment 36016

I'm fluent in 2 1/2 languages ... my best translation of it is FUBAR

 

[timd354]

I'm fluent in 2 1/2 languages ... my best translation of it is FUBAR

come on guys, it is an aconym for Stupid Wild Azz Guess

 

[bnmappraisal]

come on guys, it is an aconym for Stupid Wild Azz Guess

See Tim, that's the 1/2 language I was talking about

See, auf Deutsch, it's not really FUBAR, but Furchtbar ... but I digress

 

[DWiley]

Within the appraisal report XML there is coding identifying the basic form type. This is necessary so any XML viewing software knows which "overlay" to use when displaying the report. It is also what allows lenders and AMCs to electronically verify that the report type delivered is the report type that was ordered. It is a pretty safe bet that any "hybrid" form developed by a GSE will have its own unique form code.

 

[djd09]

And apparently you missed the AMROCK article, where the owner admitted he stole House Canary's software.

 

[djd09]

https://www.housecanary.com/agile-appraisal

How do you know it is USPAP compliant until the report is written. It is so misleading.

 

[Meandering]

Yes, there is a big dispute between AMROCK and HouseCanary, but that has nothing to with anything in this thread and I don't believe that the owner of AMROCK admitted to stealing anything from HouseCanary. In fact, AMROCK, is appealing the trial court verdict and continues to insist that they did not steal anything from HouseCanary. Since neither I nor anyone else in this thread has any personal knowledge about what went on between AMROCK and HouseCanary, I am not sure what point you are trying to make by bring up that case here other than to post another red herring in order to distract people from the subject at hand, which is a typical trick of yours

Fighting it doesn't mean it wasn't done.

It just means one side knows they can afford lawyers longer than the other side.



Phil Korovesis, partner at Detroit-based law firm Butzel Long, said Amrock will likely attempt to drag the verdict through appellate court for as long as possible, draining funds from the startup and forcing it to consider settlement.

"I think it's unlikely (Amrock) will pay the verdict as it stands," he said. "There's several ways to try to work it down to a more manageable number and tying it up in court for two to five years is one method."

The other options are for Amrock to ask the judge for a remittitur — a ruling that lowers the damages — or file for bankruptcy to skirt the large payment. Both are unlikely, Korovesis said.

Also Gilbert's other companies, including Quicken Loans, which is a subsidiary of Rock Holdings along with Amrock, are protected by the corporate veil of the separate entities, Korovesis said.

Quicken agrees.

"Quicken Loans and its parent Rock Holdings Inc. were never parties to the recent litigation between HouseCanary and Amrock, nor is either company subject to any liability in connection with yesterday's verdict announced in the state court in San Antonio, Texas," Quicken CEO Jay Farner said in a statement. "In addition, Quicken Loans and Rock Holdings Inc. were never a party to the contract at issue and there was never a single claim filed against Quicken Loans or Rock Holdings, Inc. in this lawsuit."

http://www.crainsdetroit.com/articl...company-case-likely-to-be-far-less-than-jurys

 

[Meandering]

Just a SWAG - Because she doesn't know how XML architecture works

What's to know about XML architecture

if Fannie and Freddie aren't intended users?

No need for a single bank underwriter to read XML. Nope, they need PDFs.




Or are you guys saying those restricted reports really are for the GSEs,

and well,

There is no evidence the GSEs consider them credible,

else they would already have their software out there and their selling guide updated.

And they didn't.



So thanks for verifying the need for XML and not just PDFs.



.

 

[Meandering]

Even if it could be said that Fannie doesn't know what it's getting, whose fault would that be? It would be their own fault.

Fannie/Freddie could decline to buy hybrid-backed mtgs *today* if they were worried about them. If we're worried about the GSEs being misled we could pick the phone up today and alert them to this heretofore unknown risk.

It would be the appraiser's fault for not following the Fannie and Freddie Selling Guides for the loans Fannie and Freddie are going to buy.

After all,

Isn't that why the GSEs have residential lending appraisal forms?

Cat out of the bag?

.