Gold Supporting Member
- May 2, 2002
- Professional Status
- Certified General Appraiser
How so? Wall street created the mortgage backed security and concentrated interlocking "safeguards" using one MBS to insure another. But when it went down like dominoes, well...who got the blame? And who now wants to use BPO's to back securities? We were blamed and Wall Street doesn't want appraisals to interfere with their money making defalcations.Saying things like "wall street never understood housing" makes us look stupi
Yep, that is a pretty good summary of essentially what she said in the interview although you left out one thing....in addition to the AMC's not knowing sht, they don't pay sht.Let me summarize this interview for you guys.
Wall street doesn't know sht. The GSE's don't know sht. The AMC's don't know sht. Appraiser's know housing. Drop the mic.