Waivers 50%. Hybrids 30%.

[Surf Cat]

Whatever damages these programs end up creating will eventually result in losses. What nobody can even guess at so far is whether those damages will be significant or insignificant.

That's the whole thing..... it doesn't matter because the GSE's will get bailed out.

They're saving money now though! By skirting around the system.... some executive is getting a new yacht or seaside villa.

 

[shrubberyvaluation]

That's just it, whenever I talk to a borrower or homeowner about what's "really" happening in regards to the appraisal process. They are like a deer in headlights...no idea, no clue.

This is to the AMC, appraisal modernization, lender's advantage..... and to the appraiser's detriment.

And the consumers detriment.

 

[shrubberyvaluation]

That's the whole thing..... it doesn't matter because the GSE's will get bailed out.

They're saving money now though! By skirting around the system.... some executive is getting a new yacht or seaside villa.

Like I said, to perpetuate fraud, in the name of modernization.

 

[Surf Cat]

And the consumers detriment.

I actually don't think the consumers care. As long as they get the house, the payment, the refi, whatever....It's all good.

That's why in my opinion, Public Trust smattered all throughout USPAP is meaningless. The public trust is only waned if the deal doesn't go through.

I follow USPAP, Fannie Mae guidelines, lender conditions because those are the rules. I follow the rules for my own moral compass, and pride in work product.

When I work on our house or our rental, detail our cars, etc. I don't do a slipshod job. I do it to the best of my ability because I have pride. Same thing with appraisals, even though the profession seems to be going down the drain.

Maybe there will be some sort of Revelation and it'll all turn around. That makes me wonder how the Korean appraisers are doing....