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Basically he made the point that it wasn't worth the ill-will that might come from a fight. I imagine they did fight back harder 2009-2011. But he did say their own review of the original report supported the value well and they had confidence in the valuer.
Basically the same business reasoning I am using when I simply reply to some stupid stip request instead of questioning why I have to waste my time. Good clients get a few more 'get out of jail' free cards with me. Obviously if Fannie all the sudden quits purchasing loans from lender X, that lender will likely fail, as few lenders have the balance sheet to port anywhere near the volume of loans they sell to Fannie. The ones that port most of their originations tend to be quite small, local banks. And most of those do not go 30 year. It is rare in my area to find banks that port even 20 year term loans. Especially not now, in a rising rate environment. Hard to have your interest income fixed at 4% when in 3 years you will likely be paying more than that on 6 month CDs!
Considering closing costs and peoples tendency to refi every 5 years, an ARM or fixed 5 year might well be cheaper in the long run than 30 year mortgage with high closing costs, PMI, etc.