Todays Bombshell Executive Order Ends Traditional Appraisals.

[Zoe]

Okay, let's go back to ground zero. In a very homogeneous market, Fannie can do pretty good. In a very heterogeneous market, Fannie stands no chance. Where will the repercussions come from?

Do you know who bailed out Fannie?

 

[Tom D]

Ok, no body remember no doc loans. alias liar loans. Financing made easier. The same with appraisals. When the crash happens, will see how good those values were.

If fannie gives safe harbour, that's different. If lender is still responsible for bad appraisals being used, they will go back to certified.

And by the way, all those lenders disappeared when the crash came.