Need to sharpen my pencil to connect some more dots again

[robert higgins]

Need to sharpen my pencil to connect some more dots again, FNC to GAAR to Virginia REAB to Fannie Mea deal.

FNC Helps Fannie Mae Streamline Appraisal-Related Processes.

Fannie Mae, the nation’s largest purchaser of mortgages in the secondary market, is using FNC systems to mitigate risk and streamline its appraisal-related processes, FNC officials announced Wednesday.

http://www.fncinc.com/news/pr_detail.aspx?id=180

 

[Workbox]

Can you explain some more? If you wish to start, ask yourself who sits on the boards and follow their job history and where hey have been, then it can give you an idea of any future patterns.

 

[Elliott]

The lending business is like a big, complicated log slide. The goal is
to get as many logs to the mill as fast as you can. Fannie owns the
saw mill and doesn't want 'problems' holding up those logs coming
down the slide. Appraisers are always given lip service that they
are part of the process, but most see us as just not being on the team.

 

[SANDY]

I think this article has to do with an automated appraisal checklist product being sold to lenders to catch errors or to generate requests for additional info. Good part is that the article mentioned something about lenders being required to document and report to the gse's those errors etccc for appraisals, bpos, avms etc that they have used as a basis for their loans made. So it looks like at least they will have to answer for their use of these half-baked non-appraisal products.