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Fanniegate

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jay trotta

Elite Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
It would appear that, Matt Taibbi, back in 2009 hit the nail on the head, "Goldman"

All these references to pay back of Taxpayer money, I have yet to receive a Check or Reduction in taxes over the past 10 years. Where's the Loot ??
(no I didn't forget who we're dealing with......lol)
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Govt sees Fannie/Freddie as a cash-cow. The idea of government is to bring in as much cash as possible. Risk be damned.
 

Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
I'm not very good at reading the legalize. Could you put in simple terms what that means?

No mandatory appraisals required if the property existing mortgage is on a bank balance sheet for less than 3 years. But understand that lenders sell mortgages back and forth to each other all the time. So bounce existing mortgages to other lenders every 3 years, and there will never need to be an other appraisal until someone pays off a mortgage and then waits more than 3 years to sell the house.

.
 

djd09

Elite Member
Joined
May 20, 2009
Professional Status
Licensed Appraiser
State
Ohio
Oh the three year clause. Sneaky. But what can you expect from the banker turned lobbyist turned government employee.
 
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