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Where Is A I On The Freddie/fannie Announcements?

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peturner

Member
Joined
Nov 28, 2006
Professional Status
Certified Residential Appraiser
State
Virginia
Where is the thought process and rebuttal?
Not gonna happen, imo.
 

Non Sequitur

Elite Member
Supporting Member
Joined
Feb 14, 2002
Professional Status
Certified Residential Appraiser
State
Louisiana
Rebut what? Fannie and Freddie weren't formed to be feeding troughs to service residential appraisers.

The users of residential mortgage appraisal services (at this time mainly Fannie & Freddie) are moving forward. Meanwhile, too many residential mortgage appraisers are holding on to their Fannie 1004 forms and refusing to move forward. Just what do you think any appraiser org could or should do? Demand Fannie and Freddie with their trillion dollar portfolios not move forward? Good luck with that.

Think C&R is the real fight? Well here's the cold hard reality: Fighting over fees for products that are being replaced is not only short sighted, it will likely be the final nail in the coffin for many residential appraisers who depend on mortgage origination assignments.
 
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djd09

Elite Member
Joined
May 20, 2009
Professional Status
Licensed Appraiser
State
Ohio
They are still applauding the hvcc, or they are too busy in oh canada, maybe they are writing more "green" guidelines.

Pay your dues. Never mind any real news in the industry.
 

Michigander

Senior Member
Joined
Oct 23, 2003
Professional Status
Certified Residential Appraiser
State
Michigan
The AI website does show documents related to what issues are and what concerns are being addressed. The announcement from Fannie and Freddie just came out a day or two ago, although I suspect there has been some commentary and concerns expressed. The site shows online newsletters as well as advocacy records. Admittedly, the site can be a bit difficult to navigate. For newsletters, start here http://www.appraisalinstitute.org/ano/ for advocacy start here http://www.appraisalinstitute.org/advocacy/

The stress test issue is something of interest since if the GSEs would fail, it seems pretty reckless to take on more risk through not obtaining appraisals, and the cost of an appraisal is a drop in the bucket compared to other costs of a mortgage. The elimination of the one unbiased party makes absolutely no sense.

Hope all of the appraisal organizations come out strongly against this, however rather doubt it would have any effect on the reckless ways of the GSEs when money is to be made.
 
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