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breaking news cnbc

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Greg Greenhaw

Thread Starter
Freshman Member
Joined
Mar 2, 2003
Professional Status
Certified Residential Appraiser
State
Nevada
OK, thanks. I just now found them.
 

RICHARD D. FRANK

Junior Member
Joined
Jul 21, 2006
Professional Status
Certified Residential Appraiser
State
Florida
which is why we need to become our own co-operative AMC, in addition to every appraiser for himself.
 

Daystar

Member
Joined
Sep 7, 2006
Professional Status
Certified Residential Appraiser
State
New York
CNBC just broke that Fannie and Freddie will no longer accept appraisals from Mortgage Brokers. What does that mean for us? I hope its good news.
 

RICHARD D. FRANK

Junior Member
Joined
Jul 21, 2006
Professional Status
Certified Residential Appraiser
State
Florida
means we'll have a new boss.

CNBC just broke that Fannie and Freddie will no longer accept appraisals from Mortgage Brokers. What does that mean for us?
means we'll be getting a new boss if it isnt ourselves.......
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Daystar,
Did they say 'when' Fan/Fred won't accept MB originated reports?
 

Randolph Kinney

Elite Member
Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina
CNBC just broke that Fannie and Freddie will no longer accept appraisals from Mortgage Brokers. What does that mean for us? I hope its good news.
It means that the order for the appraisal has to come from the funding lender. All that means is that your mortgage broker submits his loan package to the funding lender suggesting that xyz appraiser be assigned to appraise this property for this loan.

Now, for any lender who does not play ball with its mortgage brokers, those mortgage brokers will use other lenders that do.

I am very interested to see how the GSEs are going to know who actually controls the process; the mortgage broker or the lender? It is all about the money; no loan = no money for everyone. :shrug:
 

SmilingDog

Member
Joined
Apr 22, 2003
Professional Status
Certified Residential Appraiser
State
California
Fannie Mae and Freddie Mac agreed they will no longer purchase loans from mortgage originators who use their own in- house appraisers

Now they will need to define if "in-house" extends to AMC's. They do not say in the article that it means ALL loan originators or MB's...only the ones with in-house appraisers.
 
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