3.6 Crunch Time

[George Hatch]

Firstly, GSEs are not the govt. There's a relationship, of course; but they still retain considerable discretion on their own internal underwriting and internal policies. As far as I can tell, if the technology had been far enough along to operate this way 30 years ago they would have not been prohibited from operating this way the whole time.

If you want to talk about govt corruption and end stage capitalism and extoll the virtues of the New Soviet Man and govt owned food markets that's kewl and all. But it's also a discussion which has no bearing on what the laws, rules and regulations require of the lenders and GSEs as of today. You might as well be trying to claim an AMC is prohibited from operating a dry cleaning business or a carwash.

 

[djd09]

I repeat the obvious in direct response to the chronic idiocy these two idiots keep posting, because allowing said idiocy to pass without challenge as if they aren't supported by the facts is dishonest. If you're not participating in that idiocy then you shouldn't be acting like the comment is directed to you - because it isn't.

As for how we all believe the lenders SHOULD act, the fact remains that they are allowed to act differently. That's an observation of what we can all see, not an expression of advocacy. Regardless of how those comments make you feel.

that is some kind of kool aid...i mean epstien and my niece are unrelated but i would never let them be together alone

 

[J Grant]

Firstly, GSEs are not the govt. There's a relationship, of course; but they still retain considerable discretion on their underwriting. As far as I know, if the technology had been far enough along to operate this way 30 years ago they would have not been prohibited from operating this way the whole time.

If you want to talk about govt corruptions and end stage capitalism and extoll the virtues of the New Soviet Man that's kewl and all. But it's also a discussion which has no bearing on what the laws, rules and regulations require of the lenders as of today.

We know the GSE's are not the govt. No need to continually talk down to us and assume that we do not know these basic realities.

However, the GSEs are government-sponsored and they are the gateway to lenders being able to loan at the hugely favorable rates and terms of GSE-backed loans, because those loans are backed by the US taxpayers.

And when the GSEs are more aligned with the profit interests of those lenders...how else is it evidenced except by an agenda to discredit appraisals and appraisers, in order to get policies and laws passed that favor the profit interests of AMCs and lenders?

Just because you do not want to admit the reality of it does not mean everybody else has to stay in denial.
No offense, but this gaslighting - taking a section of economic harm and whiplashing that to correct that harm means going full on socialist or commie.

 

[George Hatch]

that is some kind of kool aid...i mean epstien and my niece are unrelated but i would never let them be together alone

Lookit, if it takes 4 or 5 passes through the facts in order to clear up someone's misunderstanding about something that repetition can be considered instructive in nature. Fair play and that approach deserves a lot of patience and a presumption of good faith.

But by the time we have made 100 passes through the same fact pattern and the myth still keeps being played as if the poster doesn't know any better then that is no longer an example of them not knowing. It's an example of them operating dishonestly and in bad faith. By which I am referring to your mendacity. If you didn't know before then you were just incompetent, but after this many rounds of it you are just operating unethically and in bad faith. Same with the other me-too. Neither one of you can support your allegations with a factual reference.

 

[djd09]

man i aint no paid cheerleader...i seen what your precious gse's and 'lenders' did to whole communities...it is hard to believe your that naïve

 

[George Hatch]

We know the GSE's are not the govt. No need to continually talk down to us and assume that we do not know these basic realities.

However, the GSEs are government-sponsored and they are the gateway to lenders being able to loan at the hugely favorable rates and terms of GSE-backed loans, because those loans are backed by the US taxpayers.

And when the GSEs are more aligned with the profit interests of those lenders...how else is it evidenced except by an agenda to discredit appraisals and appraisers, in order to get policies and laws passed that favor the profit interests of AMCs and lenders?

Just because you do not want to admit the reality of it does not mean everybody else has to stay in denial.
No offense, but this gaslighting - taking a section of economic harm and whiplashing that to correct that harm means going full on socialist or commie.

What denial? The lenders are in it for the money and they will stop using appraisers altogether as soon as they can get away with it.

And yes, some of the decisions they're making very well may turn out poorly for the taxpayers.

 

[George Hatch]

man i aint no paid cheerleader...i seen what your precious gse's and 'lenders' did to whole communities...it is hard to believe your that naïve

I don't know how you make your living, but my sole income is from "boots on the ground" appraisal assignments. We're a 1-income household. Ima wait until I turn 70 to apply for Social Security.

I've said if before and I'll say it again: I do not care what happens to the GSEs or to any of the lenders operating in that pipeline. I don't do any business over there. I like DW and I respect his expertise and intellect, but if he gets laid off today it won't bother me one little bit. Not beyond whatever sympathy I have for any other appraiser who is struggling in the current economic environment. I'm confident of his ability to do whatever comes next for him. Even if his income takes a hit.

 

[djd09]

And yes, some of the decisions they're making very well may turn out poorly for the taxpayers.

history doesn't repeat itself...we just never learn from it...but tell them appraisals don't cost money...it saves a whole lot of it

 

[djd09]

I don't know how you make your living, but my sole income is from "boots on the ground" appraisal assignments. Ima wait until I turn 70 to apply for Social Security.

I've said if before and I'll say it again: I do not care what happens to the GSEs or to any of the lenders operating in that pipeline. I don't do any business over there. I like DW and I respect his expertise and intellect, but if he gets laid off today it won't bother me one little bit. Not beyond whatever sympathy I have for any other appraiser who is struggling in the current economic environment. I'm confident of his ability to do whatever comes next for him. Even if his income takes a hit.

i never seen you troll dw...like you do with independent appraiser...so there's is that obvious fact

 

[George Hatch]

That's because he isn't a liar. Or a fool. I don't repeatedly conflict with most of all the other regulars about the facts, either; also because they're not fools. That puts them in the same category as DW.

If you would straighten out I would stop contradicting you. Matter of fact, outside of this particular gunbattle I usually DO agree with you. Thus demonstrating that it's about the dialogue in this issue , not about you as an individual. Even if you do live on 15th Street.