Phil Crawford Podcast

[NC Appraising]

The reason that the GSE's expanded the eligibility of appraisal waivers is because FHFA told them to expand eligibility, which is a direct result of PAVE, so I don't think the latest expansion would have happened, or would have been as broad if it had not been mandated by FHFA. Regarding your allegation that "profit centers demand it", I am unaware of any of the so-called profit centers that demanded an expansion of appraisals waivers. I am unaware of a single mortgage lender or AMC who pushed for this and the realtors certainly did not push for it as they actually actively opposed the exapnsion after it was announced....see here: https://www.nar.realtor/washington-...lanned-expansion-of-appraisal-waiver-programs


I know that you are a Turmp hater, but much of the nonsense pushed by FHFA (especially PAVE) over the past 4 years is due to Biden's appointee Sandra Thompson running the FHFA. Now that Trump got elected, she will be gone and will be replaced by someone more responsible....it would be nice if they brought back Mark Calabria, who was the prior FHFA boss under Trump and did a great job, however I have heard that Calabria is not interested in returning to that job.

Both you and j grant are right. Proof is below.

https://www.fhfa.gov/sites/default/files/discussion_topics/Attachments/1350/FHFA%20RFI%20Appraisal-Related%20Policies%20Practices%20and%20Processes_Quicken%20Loans.pdf

https://www.fhfa.gov/sites/default/files/2023-04/wp2201.pdf

Figure 4 compares the prevalence of appraisal waivers based on whether the servicer is
a bank or **nonbank.**

United Wholesale Mortgage and Quicken Loans, the two largest nonbank servicers

"Leveraging Appraisal Modernization" panel session at Digital Mortgage 2019

Kevin Marshall, our co-founder, moderated a panel on appraisal modernization with Fannie Mae, Freddie Mac, and Quicken Loans.

www.clearcapital.com

Oh fxxxck, the video does not exist.....dated Oct 31 2019 before covid and us racists appraisers.


It started here:

https://www.fhfaoig.gov/Content/Files/WPR-2018-006.pdf

ARE WE REALLY TO BELIEVE THE GSES STARTED THIS ON THEIR ON? AND THAT THESE NON BANK LENDERS DID NOT PUSH FOR WAIVERS?

 

[J Grant]

They want an auto-type Blue Book for houses.

 

[NC Appraising]

They want an auto-type Blue Book for houses.

Not bashing. I actually do not mind these types of products for low ltv helocs, portfolio. Evals, bpos etc. We are losing a lot of money by not doing these.

But, to your point, watch the video.

You will get a big wth did he say at ±‐11:18