We need to clean up FNMA and Freddy

[djd09]

Sorry, call of duty.........COD.

HELOC, Broker, Appraisal, DPA Products; Why Credit Costs Matter; Variance in Q3 Earnings​

By: Rob Chrisman
Fri, Nov 8 2024, 12:10 PM
Many believe, and with good reason, that there will be some turnover at the CFPB coming up. Here are the pay grades if you’re interested in a job. (I can’t attest to the accuracy of Rohit Chopra’s comp.)

HELOC, Broker, Appraisal, DPA Products; Why Credit Costs Matter; Variance in Q3 Earnings

Many believe, and with good reason, that there will be some turnover at the CFPB coming up. Here are the pay grades if you’re interested in a job. (I can’t attest to the accuracy of Rohit Chopra’s comp.) The MBA’s latest prediction for 2025 is that residential volume will be up nearly 30...

www.mortgagenewsdaily.com

looks like your boy is gone with the wind...and he did not do a thing for the appraisal industry all talk no action

 

[Digger88]

The lender (or its authorized agent)

• must establish policies and procedures to ensure that qualified individuals are being selected in accordance with Fannie Mae requirements, including the Appraiser Independence Requirements.
• must ensure that an appraiser has demonstrated the ability to perform high-quality appraisals before using an appraiser’s services. The quality of an appraiser’s work is a key criterion that must be used in determining which appraiser the lender (or its authorized agent) uses for its assignments. The requirement for an appraiser to produce a high-quality work product must always outweigh fee or turnaround time considerations.

Delegating these responsibilities to a third party does not relieve the lender of its responsibilities related to the appraisal or the value, condition, and marketability of the property. See B4-1.3-12, Appraisal Quality Matters, for information related to ongoing review of appraisals.


How did any AMC you may be on do this before using your services?

A friend of mine was a manager at RELS who told me bitd about customary and reasonable "we determine what is C&R if someone accepts our $235 fee, that is C&R"

"all we want is the fastest turn around at our fees"

 

[TerryRohrer]

A friend of mine was a manager at RELS who told me bitd about customary and reasonable "we determine what is C&R if someone accepts our $235 fee, that is C&R"

"all we want is the fastest turn around at our fees"

Well, they usually wanted a few other things, but usually didn't insist on those until the appraiser completed their assignment.

 

[Tim Hicks (Texas)]

Fannie and Freddie are too full of themselves. They think since they have all the data they know more than the appraisers submitting the data. There is a lot more to appraising than just owning the sales data because the data is always changing.

 

[Non Sequitur]

Fannie and Freddie are too full of themselves. They think since they have all the data they know more than the appraisers submitting the data. There is a lot more to appraising than just owning the sales data because the data is always changing.

100% correct. Watch this podcast and hear it from someone who was there:

 

[Carnivore]

I did not want to start a new thread. I just got this today about PDR Dudes & Dudettes. There are real and legitimate concerns .

Push to Regulate Property Data Collectors

> The Appraiser Coach > AMC Resource Guide > OREP E&O ★★★★★ “They are knowledgeable, professional, and understand urgency.” – Joe Thweatt Push to Regulate Property Data Collectors by Isaac Peck, Publisher Property data collections have been a slow burn. For the last five years, powerful...

www.workingre.com

 

[Non Sequitur]

I did not want to start a new thread. I just got this today about PDR Dudes & Dudettes. There are real and legitimate concerns .

Push to Regulate Property Data Collectors

> The Appraiser Coach > AMC Resource Guide > OREP E&O ★★★★★ “They are knowledgeable, professional, and understand urgency.” – Joe Thweatt Push to Regulate Property Data Collectors by Isaac Peck, Publisher Property data collections have been a slow burn. For the last five years, powerful...

www.workingre.com

We don't need another license in our space. If PDC collectors are licensed they will have a seat on appraisal boards just like AMCs. How did that work out for us?