J Grant
Elite Member
- Joined
- Dec 9, 2003
- Professional Status
- Certified Residential Appraiser
- State
- Florida
But they were not used on a mass scale for original loans to replace the appraiser inspecting their own subject, were they?OK. I get it. You think it is perfectly fine to post something factually incorrect as long as you can use it to vent about something.
PDRs were being used by lenders as far back as 2006, way before the GSEs even thought about using them, and well before the proliferation of AMCs.
The argument of defense always comes back to when X was used years ago, on a different scale and for a different purpose. I posted above the AI search revealing (it only got to the B 's) the list of AMCs who provide PDR collections of ACE waivers.
I understand the big money for all this is usually enjoyed by the upper tier (see the clear capital post ) and those doing the actual managment work at a GSE or processing AMC orders might have no peraonal profit from it.
