Phil Crawford Podcast

[Surf Cat]

Which means we need to gain some insight into whether those transactions were typically motivated and consummated by knowledgeable, well-informed participants acting in their own best interests.

Alakazam! *PooF* no need for an appraisal Mr and Mrs Jones!

With our super secret valuation model, and confirmation from Snidely Whiplash mortgage broker.....we have found that your new home is the epitome of market value. Congratulations!

Now if you'll excuse me, I've got to send out these ROV's to these appraisers causing all this friction!

 

[J Grant]

That's exactly what I said I did. I never claimed to identify the waivers; I just separated the possibles out from the total. I did the first half of the analysis but not the 2nd. I'd have to make 17 phone calls to see if any of them are waivers - chances are there's at least 1 or 2 among them. Then I can find it's respective comps among the high LTVs to see if there's a difference.

Tedious and time consuming but not impossible. Without the cooperation of the MLS systems.

It is so tedious and time-consuming that it almost never is done.

This brings us back to the same point that disclosing the WAIVER and having it on MLS would make it easily possible day in and day out.

 

[Zoe]

I know him well enough that I know he would never call Jews "rich" by virtue of their religion nor assume every Jew was likeable. Nor would he brag on their beauty or personality. Have you ever even seen a Jew, especially an Orthodox one, in Memphis? Have you been to their school there? The synagogue? I used to work for several Jewish family-owned companies. One swindled me. One was the best oil company I ever worked with. Do I then assume 50% are crooks and 50% are great? Hardly.

I have appraised a synagogue. Religion and race does not enter into my equation. I have seen many places of worship change religion or go to a totally different use.

I focus on public trust and real property rights. That is my profession.

 

[Surf Cat]

And the hits just keep coming!

 

[George Hatch]

Alakazam! *PooF* no need for an appraisal Mr and Mrs Jones!

With our super secret valuation model, and confirmation from Snidely Whiplash mortgage broker.....we have found that your new home is the epitome of market value. Congratulations!

Now if you'll excuse me, I've got to send out these ROV's to these appraisers causing all this friction!

That is definitely one way of saying it.

 

[George Hatch]

It is so tedious and time-consuming that it almost never is done.

This brings us back to the same point that disclosing the WAIVER and having it on MLS would make it easily possible day in and day out.

Are you somehow misreading my commentary to imply that I disagree with that? Because I don't.

 

[Zoe]

I think Crawford don't really know Hatch imho.


He hit Freddie hard. That points to many things on how hard Crawford hit Freddie.

I have no idea how NAR might respond. They are a big player.

Do not think NAR is not a big player.

I can tell you from some locals I know that they don't want in the appraisal profession. The agents like the liberty of being able to be biased for their client.

 

[J Grant]

Value acceptance (formerly appraisal waiver) uses data and technology to accept the lender-provided value, allowing lenders to deliver loans for certain eligible transactions to Fannie Mae without an appraisal. Value acceptance offers are issued through Underwriter® (DU®) using Fannie Mae’s database of more than 61 million appraisal reports in combination with proprietary analytics from Collateral Underwriter® (CU®) to determine the minimum level of required collateral due diligence.This summary is intended for reference only. All criteria are subject to the formal terms and conditions of the Fannie Mae SellingGuide. In the event of any conflict with this document, the Selling Guide will govern.

 

[George Hatch]

I had to do a couple google searches to find the podcast that PC was quoting. I think a few readers here might find it interesting to listen/watch the entirety of that interview in its original context. DW gets to some of the specifics of their program @ the 9:20 mark

 

[Bobby Bucks]

The “IGNORE” feature has some flaws. The ignored person’s name still pops up, especially when someone quotes the ignored person and even worse, the ignored person can still read and respond to your posts. The ignored person basically has a beacon shining in them.