Waivers, huh?

[djd09]

One less source of problems. Some improvement is better than no improvement.

And IRL, it's: broker internal AVM estimates value via waiver with the gse blessings, but only up to 80% LTVs.

That is, in case you were ever interested in discussing the issue on the factual basis instead of just freebleeding all over the place.

just like all the other little liberals...blame me for their own confusions

 

[Tiffany Gibbons]

Hey Tiffany, you always me-too these idiots. Feel free to respond to any of these questions. I thoroughly enjoy watching you try to reason through some of your opinions. You seem especially fond of the appeal to motive, which is a category of fallacy:
View attachment 85783

My opinions are my own. They come from experience. I can agree with anyone I want. I don't have to justify anything to anyone, least of all someone who lacks the class not to call anyone in the same profession who doesn't agree with them idiots. You come off more as a lackey than a paid shill anyway.

 

[George Hatch]

You're the one who has their facts wrong. As in, false.

 

[George Hatch]

My opinions are my own. They come from experience. I can agree with anyone I want. I don't have to justify anything to anyone, least of all someone who lacks the class not to call anyone in the same profession who doesn't agree with them idiots. You come off more as a lackey than a paid shill anyway.

I'm not trying to say you have no right to side with the idiots. I'm just asking you to show your reasoning in support thereof. Under the assumption you actually have some reasoning in there somewhere.

 

[djd09]

so the point of this thread is if the ltv is low enough then waivers are ok...it reminds me of the mortgage broker telling me don't worry they have great credit wtf

 

[djd09]

You're the one who has their facts wrong. As in, false.

trust the unethical stakeholders...

 

[ucbruin]

just remember...not one gse employee went to jail for the financial crisis after they help pillage and plunder vast amounts of real estate

Ironic, right....
Kevin O'Leary says that's how the real estate business (and all businesses) operate....
Fudge your numbers to the financial institutions to get a loan....
And MAGA forumites are upset when Trump is caught....

 

[George Hatch]

so the point of this thread is if the ltv is low enough then waivers are ok...it reminds me of the mortgage broker telling me don't worry they have great credit wtf

From a lender's perspective and WRT safe/sound lending that's exactly what the reasoning is. And yes, I agree with that reasoning. A 50% LTV doesn't warrant a full 1004 appraisal, especially if they already have an appraisal on file (at the GSE that's using the AVM). What percentage of these SFRs have multiple appraisals in their history?

And since you bring up the MB making that comment to you (which I've also had first hand experience with), there are 3 distinctions to make:

- MBs don't make the loan decision and they are not loaning out the money. They're just selling the deal to the lender whose money it is that's going out the door​

​

- When an MB is telling an appraiser that it is in the process of asking the appraiser to lie for them in order to cheat their trading partner (the lender) by selling the lender a deal they would never make on those terms if fully informed about the true value.​

​

- There is zero overlap between that kind of dishonest conduct by a loan originator vs a lender getting an appraisal review or making a low LTV loan off an "eval" or hybrid or AVM.​

 

[George Hatch]

trust the unethical stakeholders...

Their conduct notwithstanding, you got your facts wrong with how the decisions are being made with these waivers. Which when considering the first posts of this thread show how they're doing it means you have no excuse for trying to pimp the untruth of it.

 

[George Hatch]

Ironic, right....
Kevin O'Leary says that's how the real estate business (and all businesses) operate....
Fudge your numbers to the financial institutions to get a loan....
And MAGA forumites are upset when Trump is caught....

Developers act like developers and brokers act like brokers - so what? You know the lenders don't take the borrower's word for anything without getting their own appraisals and accounting audits. Deposits, receipts, revenues in/out, etc. Nobody who has ever taken out a high-dollar mortgage is unaware of the lengths to which the lender is going to look them over.

You can't blame the developers for those loans because they aren't the ones making those decisions.