• 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.

The New Deal

Status
Not open for further replies.

redfish

Thread Starter
Senior Member
Joined
Sep 2, 2007
Professional Status
Certified Residential Appraiser
State
Michigan
The new deal between the GSEs and the the NY AG. Is good and bad. Hopefully it works. My questions for the forum participants is how long before the government decides that the AMC business is worth getting into.

Hypothetically speaking:

Fannie freddie invest in the technology and infrastructure of a management company and start ordering appraisals randomly directly from a list of approved appraisers once an MB or a bank gets the loan app and the origination started. If there is any pressure or funny business the appraiser speaks directly with the government AMC and they start a file on that particular LICENSED L.O., broker, or institution. I know this is boderline socialistic but big goverment maybe just what we need.

Just a thought.


Oh Yeah... the Gov. AMC would be a nonprofit.
 

Jonathan C

Sophomore Member
Joined
Dec 19, 2007
Professional Status
Certified Residential Appraiser
State
Florida
When has the government ever been successful in anything it controls? Except for the military that is supported by the high cost suppliers? If the Feds are the almighty AMC this industry is done.

i.e. social security, medicare, etc.

90% of Americans will live in socialized (communist) housing and the economy will resemble the 1930's for a long, long time.
 

redfish

Thread Starter
Senior Member
Joined
Sep 2, 2007
Professional Status
Certified Residential Appraiser
State
Michigan
Yeah but doesn't the goverment typically overpay those suppliers and get things done notoriously slow. Sounds like my type of client. Aren't the paralles to the 1930's erie hence the thread subject line.
 

moh malekpour

Elite Member
Joined
May 25, 2002
Professional Status
Certified Residential Appraiser
State
California
Fannie/Freddie are not government agencies. They are profit making corporations. They sell their stocks to public. They are sponsored by government so if they failed, the government may bail them out.
 

Lobo Fan

Elite Member
Joined
Nov 28, 2004
Professional Status
Certified Residential Appraiser
State
New Mexico
I'm not sure, but aren't VA appraisals handled that way. You get on the list and get orders based on some criteria?
 

Midwest Guy

Senior Member
Joined
Dec 12, 2006
Professional Status
Certified Residential Appraiser
State
Missouri
Study the old FHA panel and the get back with us!

The new deal between the GSEs and the the NY AG. Is good and bad. Hopefully it works. My questions for the forum participants is how long before the government decides that the AMC business is worth getting into.

Hypothetically speaking:

Fannie freddie invest in the technology and infrastructure of a management company and start ordering appraisals randomly directly from a list of approved appraisers once an MB or a bank gets the loan app and the origination started. If there is any pressure or funny business the appraiser speaks directly with the government AMC and they start a file on that particular LICENSED L.O., broker, or institution. I know this is boderline socialistic but big goverment maybe just what we need.

Just a thought.


Oh Yeah... the Gov. AMC would be a nonprofit.
 

Kevin Mc

Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
That's funny.

If there is any pressure or funny business the appraiser speaks directly with the government AMC and they start a file on that particular LICENSED L.O., broker, or institution. I know this is boderline socialistic but big government maybe just what we need.

I thought this was the whole point of FIRREA,AF,USPAP and Licensing? Yeah the government getting involved in our end of the business has worked out so well. Wanna get to the root of the mortgage problem in this country, simple. Follow the money.
 

Amy Perkins

Senior Member
Joined
Jul 20, 2003
Professional Status
Certified Residential Appraiser
State
Tennessee
It is does not sound like an AMC that orders appraisals, sounds more like a watchdog that enforces rules for the non biased ordering of appraisals and prevents blacklisting.
 

c w d

Senior Member
Joined
Oct 2, 2006
Professional Status
General Public
State
Florida
The worst real estate and credit debacle in modern history and they're still not in it. So, I guess we'd have to overthrow the government to get them to devise a system that works. The answer to your question is "never".
 
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