GSE Waiver & Data Collection Data

[alebrewer]

I'd say looking at pictures from someone else takes more time to assess than seeing the property. FNMA has the power to only partner with ones that will use trainees, but they will partner with the most unethical AMCs

I'll buy the argument that personal observation is more thorough than something from an untrained runner, but I can't buy that looking at pics on a computer takes more time than driving to a property and doing the inspection yourself...

 

[alebrewer]

We are being told the advantage is better risk analysis. Do you believe it?

AFAIC Rocket is the whole reason the GSEs have been pursuing this. Hybrids came from the minds of slick salespeople, not risk analysts.

Online lenders want consumers to be able to pull up their phones and do a cash-out refi or purchase mortgages instantaneously. This would give a big boon to Wall Street lenders, because to do so would limit their overhead relative to smaller banks and mortgage companies who don't possess that capability. Instead of thousands of mortgage operations folks, we are talking dozens of engineers. This is the essence of modernization. They need instantaneous approval on collateral. The hybrid is a step on the way there. It is all explained here:

What you said - without saying - is that the LO industry is going away as well. An argument I cannot disagree with.

 

[Zoe]

Congress still has VA in background needing no bailout. That is a gift you can be thankful for. Needing no bailout is huge mitigating factor.

It is like a mountain in a swamp.

 

[Zoe]

 

[Zoe]

I'll speak plain and simple. VA needed no bailout. VA didn't even appear in appraisal bias hearings.

They needed no bailout.

Commingling of fees is in the picture.

 

[Zoe]

Put your big boy pants on and know commingling of fees is bad.

 

[Surf Cat]

Fannie Mae will keep downtown DC headquarters after all

Somebody's Pockets were padded....

 

[Non Sequitur]

Somebody's Pockets were padded....

Yeah, it's a last $$ grab before Doge hits them.

And breaking news:

https://seekingalpha.com/news/4422791-freddie-mac-says-no-more-work-from-home-by-may---report

 

[CGinMN]

I think DOGE at its core it pro-appraisal modernization. I think they want leaner operations at the GSEs to lower G-fees and mortgage origination costs. They might keep their modernization teams and eliminate much of their QA and repurchase teams. I think this is all counterproductive and eventually increases risk premiums long term, but what do I know.

 

[Non Sequitur]

I think DOGE at its core it pro-appraisal modernization. I think they want leaner operations at the GSEs to lower G-fees and mortgage origination costs. They might keep their modernization teams and eliminate much of their QA and repurchase teams. I think this is all counterproductive and eventually increases risk premiums long term, but what do I know.

It's anyone's guess. But now that Freddie is ending work form home expect Fannie to follow. I'm not sure how many of the people we are familiar with are affected but here comes the train. Will it mean a quicker path to modernization? I guess we'll find out soon enough.