Fannie, Freddie programs raise risk concerns.

[Francois K. Gregoire]

Hi All,

Doing my best to keep things in the news.

No Praise for Automated Appraisals

There's a feedback button at the bottom of the page. Every little bit helps!

 

[Dee Dee]

Excellent, Frank!
Thank you for the time and effort you have made!

Dee Dee

 

[Larry Lyke]

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.

 

[Pamela Crowley (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]

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

 

[Joe Birrell (NY)]

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]

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 or not according to the Gov :twisted:

 

[Joe Birrell (NY)]

Dale:

Thanks for the post. I just e-mailed my complaints.

regards,

Ranting Joe

 

[Leon Stewart]

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]

Leon,

I could not agree with you more.

TC