bank of america wrote the Dodd/Sehlby act

[INSPECTOR]

Cuomo wants to inteview me. I don't know when yet. Anybody want me to know or say anything about this, or anything else?

Tell the truth, honest Appraisers need an honest ordering system to produce an honest Appraisal!

 

[Wendy]

Tell the truth, honest Appraisers need an honest ordering system to produce an honest Appraisal!

I second that!

 

[Wendy]

....Congress and the Feds are involved now and they are going to what they are going to do...<snip>......I guess this makes sense, since when you think about it, the attorney general of one state should not be setting policy for Fannie & Freddie in all 50 states.

I think States area going to balk at anyone trying to set policy for them. HVCC is gone because of that.

Wonder what will happen next?

 

[Carnivore]

I think States area going to balk at anyone trying to set policy for them. HVCC is gone because of that.

Wonder what will happen next?

There will be many versions of HVCC in the individual states. The voters are angry. There retirement accounts have been given to someone else, behind there backs.

Dont underestimate the power of the states. Dont underestimate the power of an angry mob of investors and the general population.

 

[Lobo Fan]

Did you really expect anything else? No matter which party is in power, our government is bought and paid for by special interests. You can bet that the prohibitions against lender-owned, and title company owned AMCs will disappear as well. We are not organized enough or have enough money to keep from getting steamrolled.

Lenders do not want real reform, or honest values. They just want to close loans, period. If they go bad, hand them to the FHA. I guess FNMA won't take their crappy paper anymore, so it is off to a new government agency. Of course, with a carpet cleaner as the new head of HUD we will get some truly experienced oversight.

 

[PropertyEconomics]

I Wonder what will happen next?

Soup Lines .... coming soon to a town near you.

 

[Hamlet]

Soup Lines .... coming soon to a town near you.

I sure do hope they serve broccoli/cheese soup.woohoo

 

[Lobo Fan]

It may be that government cheese and e-coli broccoli. If we get lucky we might get a bread bowl. Sorry for my cynicism. I just don't have much faith in government solving any problem, let alone one this big and with this much money involved.

 

[Alison Swain]

I'm partial to chicken noodle myself. They ought to be able to water that down reeeal good without anyone noticing too much. :icon_lol:

 

[Joyce Potts]

How did this happen AGAIN within 18 years of the last one? Major reforms and overhauls are seriously overdue. This is another example of the lending industry getting behind the legislation that only gives the appearance of reforms.

USPAP, written by the lending industry, for the lending industry. That's how it happened again within 18 short years.