Freddie Mac To Waive Appraisals?

[Eli]

Did you know a bobcat is a pretty docile critter until you corner it?

When the govt overtakes fhmlc, they can only blame themselves.

 

[NC Appraising]

Your mind is completely disconnected from reality, so who cares that you thi

I don't doubt that they hinted to you and other appraisers that they order appraisals on all REO's but I just don't think that is actually the case.

You could be right. I will email my guy at Fannie and find out what the ratio is or at least when they do order appraisals. They could have been generically speaking because they keep pounding the fact that our appraisals were compared with BPO's. Hence the quarterly scorecard they send out.

 

[Eli]

Did you know a bobcat is a pretty docile critter until you corner it?

When the govt overtakes fhmlc, they can only blame themselves.

Why?

Both have record profits.

I see the big banks lobbying to make them disappear so that they can take over the mortgage market OR both being turned back into a (GSE) private company as they were.

Well, that's deep but public trust is at the very heart of it. I have said it before. Lose public trust and the US is the last place on earth anybody would want to be.

 

[Eli]

Your mind is completely disconnected from reality, so who cares that you thi

I don't doubt that they hinted to you and other appraisers that they order appraisals on all REO's but I just don't think that is actually the case.

Your job is a heartbeat from being gone. I feel you.

 

[Eli]

Timd, you could always be a comedian. !

 

[Eli]

Based on the performance of GSE's, if they don't think their job is in jeopardy??????????


Hello???????

 

[LANoble]

Wonder who is behind this?
http://www.quickenloans.com/press-r...ake-home-financing-accessible-for-new-buyers/[/QUOTE]

Reminds me of Fannie's 2003 annual proxy report with Countrywide, (see page 16) who went from 1 to 100+ products to better serve consumers and everything was just swell and super good.
http://www.fanniemae.com/resources/file/ir/pdf/proxy-statements/2003annualreport.pdf

Fast forward and in classic Fannie form: "Some nonbank lenders say concerns about liquidity are overblown. “We are not taking on credit risk—the loss is borne by [government] agencies,” said Bob Walters, chief economist at Quicken Loans. “As long as there is a government guarantee, that is a powerful leveling factor that keeps the flow of funds going.”

 

[TRESinc]

http://appraisersforum.com/forums/threads/no-appraisals.214762/

http://appraisersforum.com/forums/t...raisal-free-mortgages-chicago-tribune.214533/

http://appraisersforum.com/forums/threads/no-appraisal-needed.214497/

http://appraisersforum.com/forums/t...ddie-mac-policy-changes-re-appraisals.214459/

 

[timd354]

You could be right. I will email my guy at Fannie and find out what the ratio is or at least when they do order appraisals. They could have been generically speaking because they keep pounding the fact that our appraisals were compared with BPO's. Hence the quarterly scorecard they send out.

It will be interesting to hear what he tells you. Who knows, maybe I am wrong about them not ordering appraisals on all REO's

 

[NC Appraising]

It will be interesting to hear what he tells you. Who knows, maybe I am wrong about them not ordering appraisals on all REO's

I am Clint Chappell, and have been Valuation Manager in REO Operations in our National Property Disposition Center (NPDC) for Fannie Mae for three years. We are centrally located in Dallas Texas but handle all valuation for our REO properties nationwide. My department currently orders several thousand appraisals every month. We order an Interior-inspection appraisal on every REO property plus an initial Exterior-only if the property is not initially accessible. http://appraisersforum.com/forums/threads/becoming-a-fannie-mae-REO-appraiser.130039/

That post is from 2007, so things may have changed. I stopped doing Fannie REOs in 2015. I have sent a email to my current contact and will update.