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New Release from NAMB in reference to the FNMA Agreement

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OSU Beavers

Elite Member
Joined
Jan 10, 2007
Professional Status
Licensed Appraiser
State
Oregon
"The law provides for a process to implement regulatory and policy changes such as those contemplated and specified in these agreements. ...As it stands now, the National Association of Mortgage Brokers intends to consult with our legal advisors and to take appropriate legal action if necessary."

Tards, Fannie/Freddie can make their own RULES on what [email protected] to buy or not. The law has nothing to do with it.

I never understood why anyone would pay a broker an extra 2% when they can get the same rate through a direct lender.
 

Ross (CO)

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Somewhere else in the Forum that NAMB announcement had been recently posted. I noticed with another look at it here that this group is emphasizing the problem as being "appraisal fraud".....and thus the Fannie/Freddie Agrrement has been drafted.

Did anyone see a January stats report by Fannie (shared by Mike K. a few days ago) with a pie-chart showing relative %'s of contributing factors to their records for the overall mortgage-and-fraud situation ? Only 4% of their total problems were sourced in the "valuation" process.

Only 4%. Another 10% were sourced by "property" (conditions ?). That leaves 86% being sourced by a much broader cast of characters !
 
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