Truth or Dare

[djd09]

their words are clearly stated...if you want to deny reality that is up to you

 

[George Hatch]

You're the one who is gaslighting their explanation as if they didn't plainly state it. The acceptance occurs AFTER their process, not in lieu of it as you are alleging.

 

[djd09]

Can't you see that you're smothering me? Holding too tightly, afraid to lose control...'Cause everything that you thought I would be....Has fallen apart right in front of you

I've become so numb, I can't feel you there
Become so tired, so much more aware
I'm becoming this, all I want to do
Is be more like me and be less like you...

 

[George Hatch]

You're being smothered by your own untruths. I didn't do it to you; I just pointed it out.

 

[djd09]

When a DU loan casefile receives a value acceptance offer and it is exercised by the lender, Fannie Mae accepts the value estimate submitted by the lender as the market value for the subject property

https://singlefamily.fanniemae.com/media/5916/display

any questions....

 

[George Hatch]

Asked and answered. RIF

 

[djd09]

yeah sure...if it was a honest system they would be transparent...hip hip hooray unlicensed mortgage broker appraisers

 

[George Hatch]

What do you think it means when they believe whatever alternatives they're using (under certain conditions) are at least as sufficient for their usage as your work?

 

[djd09]

Strategies to Help Get an Appraisal Waiver​

We can’t see the algorithm that Fannie and Freddie use, but they do give us some guidelines, and through trial and error we’ve picked up some tricks to help.

• For refinances, keep the home value below 1 million. Fannie nor Freddie will give the appraisal waiver if the home value is over that, so if your home is worth 1.3 million, we can change the home value (just for refinance purposes) to $999,000. The only caveat is if your loan to value goes down too much, it may affect your interest rate or other loan pricing. You can’t do this on a purchase because you have to use the purchase price.
• Make sure your address is exactly like the post office has it in their file. If you have the address even slightly wrong (Street vs St, for example), you will get denied.
• Don’t count rental income if you don’t need it. You will never get an approval with rental income. Works for purchases and Refinances.
• Lower the value as much as possible without changing your rate and pricing. Fannie likes equity. Refinances only.

Appraisal Waivers Explained – Tips On How to Get One - Jesse Rivera Mortgage Broker

Appraisal waivers are like manna from heaven, finding money in your coat pocket, and winning the lottery – all combined. But you need to...

jesserivera.com

any questions...

 

[George Hatch]

They're talking about how to squeeze a property into the program when the value exceeds the program limitations . That's exactly how the Wells loan officers got caught a while back. They lowballed the property values to get them into a program for which they weren't qualified and the GSEs caught them with their AVM.

That's exact opposite of a loan originator trying to get their pet monkey to overvalue a property for the purpose of cheating the lender. An undervalued property doesn't represent a risk of overencumbrance. Duh.