Travis McGee
Senior Member
- Joined
- Sep 18, 2004
It's Friday the 13th and appraisers are to blame for all bad loans. Read the front page of today's WSJ.
...with the economy stuck in low gear and sales slowing, many experts fear home prices could soon drop. If so, substantial blame may fall on the nation's 40,000 residential appraisers-- much as Wall Street securities analysts are being criticized for hyping over-priced stocks before the Internet bubble burst.
But Congress hadn't reckoned of a major shift in the lending industry: Few of the people involved in making mortgage loans these days have a long-term interest in them.
This stuff is great, count on the WSJ to get it right while all the other media hems and haws around the edges!