• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Newsweek Link: The Predators Ball

Status
Not open for further replies.

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
I don't know if it is Fannie's or individual lender guidelines but when I was brokering loans, I had to sign a statement with each wholesale lender that I would buy back any loan that was based on misleading or fraudulent documentation. That might be why I could not compete with the "big guys," those that had the wherewithall to buy back loans.
 

J in Florida

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Mike, what I saw at the wholesaler I worked at, was that the buy-backs were not enforced against the top producing correspondents.
 

Hamlet

Elite Member
Joined
Aug 14, 2006
Professional Status
Certified Residential Appraiser
State
Ohio
It is plain disgusting how big business runs our government.
 

Dee Dee

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
I don't know if it is Fannie's or individual lender guidelines but when I was brokering loans, I had to sign a statement with each wholesale lender that I would buy back any loan that was based on misleading or fraudulent documentation. That might be why I could not compete with the "big guys," those that had the wherewithall to buy back loans.

Yeah....
I remember when the appraisers on this board used to believe that all it would take was a few greedy MB's having to buy back their dirty loans, then their cronies would shape up and get their ethics in order.
Ha! How naive we were! :shrug:
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks