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Fannie, Freddie programs raise risk concerns.

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Dee Dee

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Excellent, Frank!
Thank you for the time and effort you have made!

Dee Dee
 

Larry Lyke

Senior Member
Joined
Feb 2, 2002
ALSO --

The more CASH the buyer puts down the greater the risk to the buyer. That risk also needs the further protection of having the title searched for the buyer's benefit and not just the lender whose risk is the loan amount, not the equity portion.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Frank,

Thank you! Thank you! Thank you!

The more we can put this into the media, the better. The best reason is what it's doing to borrowers and the potential for all taxpayers.
 

Nancy in Friday Harbor

Junior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Washington
Frank,

Thank you!

Let's not forget that the appraisal is often the least expensive item of all the closing costs. To promote cutting out an appraisal as a "help" to the customer in making housing more affordable is C**P of the highest order!
Don't see Fannie or Freddie promoting lower fees to loan officers or lower commissions to RE agents!

Nancy
 
Joined
Jan 16, 2002
Nancy:

Absolutely ! That's one of my rant buttons. This appraiser bashing needs to be turned around on them. What about their debt ratio ? (which I hear is 60% ). Fannie dosn't want investors to hear about this. They were pissed when Wall St. Journal had something to say about it. Hell if I was trying to hide this amount of debt, I won't want any appraisals done either.
The more their portfolio is inflated the better.
 

Dale Smalley

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Florida
If you are concerned about Fannie and Freddie check out this site.

Office of Federal Housing Enterprise Oversight (OFHEO)
http://www.ofheo.gov/

Everybody has a boss it seems.

On the appraisal side check out the section on House Price Index
See if your area is hot :D or not :cry: according to the Gov :twisted:
 

Leon Stewart

Member
Joined
Jan 15, 2002
What most posters fail to realize is that the Lenders control the Appraisal Business, and they are taking it in the direction that's most beneficial to them.

leon
 

TC

Elite Member
Gold Supporting Member
Joined
Jan 31, 2002
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Leon,

I could not agree with you more.

TC
 
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