Data Cancer Due to Waivers

[Zoe]

There is no data cancer and it just gave Phil's podcasts a few more viewer's..lol

Don't make me get nasty. Is a professional appraiser performing the valuation for the borrower on a waiver? If so, does this professional appraiser even have competence in the local market?

 

[Mejappz]

Don't make me get nasty. Is a professional appraiser performing the valuation for the borrower on a waiver? If so, does this professional appraiser even have competence in the local market?

Go Zoe, go.

 

[George Hatch]

Go Zoe, go.

I usually autoscroll his posts. Why are you reading them?

 

[George Hatch]

If it's possible for waiver usage to result in price creep in the market then the answer to the Data Cancer allegation cannot be "Never". But "Always" is equally unlikely. What remains is to quantify how rare/common it is for prices in the GSE value limitations to be increased - or decreased - due to appraisers not even looking at these particular properties.

The RE market runs in cycles, so "increasing too fast" isn't the only possible negative outcome. If the waivers can prompt for additional increases in an increasing market they can also prompt for additional decreases in a declining market.

Better for appraisers to let the data speak than to commit to conclusions which might be later overtaken by the facts.

Oh come on, George. Sooner or later, that turd is gonna flush.

So tell me, Joyce. Exactly which part of that comment do you think is inaccurate or unreasonable?

 

[djd09]

The Most Splendid Housing Bubbles in America, Jan 2025: The Price Drops & Gains in 33 of the Largest Housing Markets​

By Wolf Richter​

Prices of single-family houses, condos, and co-ops fell in January 2025 from December in 32 of the 33 large Metropolitan Statistical Area on our list here. The one exception was the San Jose MSA, where prices were roughly unchanged for the fifth month in a row.

The Most Splendid Housing Bubbles in America, Jan 2025: The Price Drops & Gains in 33 of the Largest Housing Markets | Wolf Street

wolfstreet.com

bubble...what bubble

 

[Zoe]

I usually autoscroll his posts. Why are you reading them?

I am impressed. I didn't know you could auto scroll. I knew you were talented but had no idea. You keep amazing me.

 

[Zoe]

The Most Splendid Housing Bubbles in America, Jan 2025: The Price Drops & Gains in 33 of the Largest Housing Markets​

By Wolf Richter​

Prices of single-family houses, condos, and co-ops fell in January 2025 from December in 32 of the 33 large Metropolitan Statistical Area on our list here. The one exception was the San Jose MSA, where prices were roughly unchanged for the fifth month in a row.

View attachment 97606

The Most Splendid Housing Bubbles in America, Jan 2025: The Price Drops & Gains in 33 of the Largest Housing Markets | Wolf Street

wolfstreet.com

bubble...what bubble

Lets stop and think about motivations vs a local professional that knows the market.

 

[Zoe]

I will throw some curves at you for fun. F/F has lost much business lately. Banks have lost much business lately. appraisal management companies have lost much business lately. appraisers have lost much business lately.

Who in the picture is an unbiased party? Could it be the professional local appraiser?

 

[Zoe]

You have the right to remain silent. LOL

You can answer I don't know. I don't remember. Be careful who in the picture is unbiased party.

 

[Zoe]

Public trust. You can bank on that and real property rights. That is your goal.

I have argued with people over me in a bank and with regulators examining the bank. But I had privilege of reporting directly to the the chairman of the board of directors.

He liked me. He trusted me over some of his loan officers. I was VP there also but I had people over me also.

I was later Pres of another bank.

I set up the whole loan review program when I was reporting directly to chairman of board.

When regulators came in they would interview me many times. I would say yes, I can explain that. I was also good friends with the VP lady over compliance at the bank.

They usually drilled the loan officers and not me. All of that would go to the board of directors and board had to respond quickly,. Remember I reported to the Chairman of Board.