NEW Mortgage News Daily FORUM/ ARE COMP CHECKS LEGAL?

[Mike Kennedy]

http://www.mortgagenewsdaily.com/forums/t/9720.aspx?PageIndex=2

Check it out - so far, an intelligent discussion including SEVERAL AF Members.........

...................

 

[Joyce Potts]

From the posts that I read, how is it any different than any of the thousands of comp check disucssions on this Forum?

What exactly am I missing?

 

[Mike Kennedy]

Several of the Brokers actually "get it".

 

[Joyce Potts]

Several of the Brokers actually "get it".

What they say and what they do are two different things. Whenever a broker thinks they have a legitimate reason to go with an appraiser who justifies a higher value--

THEY WILL.

There is a conflict of interest built into the system AND the mentality of lenders AND APPRAISERS!!

 

[Elliott]

Mike said, so far, an intelligent discussion

If you think a discussion of "are comp checks legal" is
any different than the number of angels that can fit on
the end of a pin, then I guess its intelligent. Do MBs
really get credit checks for free too?

 

[Mike Kennedy]

"oh ye of little faith". :laugh:

 

[lizhorvath]

Those are all the same people as on the Broker Outpost!