Registered: 1204633345 Posts: 2,130
Reply with quote #1
FNMA's CU driven appraisal with no buy back guarantee now provides loans up to 90% LTV are now used on 20% of all loan transactions.
Within just 6 months we have already lost a huge chunk of business. They have also admitted that the product would not be possible without the appraiser's data which we happily provide to them without restrictions. Ok.. inserting head back in sand __________________ We argue this: Meanwhile the agent's assistant just did 5 unofficial appraisal inspections they paired with a Zestimate and granted 90% LTV - all guaranteed no buy back.
Registered: 1211294772 Posts: 455
Reply with quote #2
Wait til the market crashes. CU won't save them. The Fed will have to write a big check to FNMA to cover losses, TARP X. Will still blame appraisers or brokers or the scape goat of the day. It could never be their fault. The Execs will still get their bonuses.
Registered: 1452892955 Posts: 2,265
Reply with quote #3
There will be no checks written this time. TRUMP!!!!!!!!!!!
__________________ The AMC is my B!TCH!
Registered: 1341185158 Posts: 1,532
Reply with quote #4
Good news is that they lost their fall guy.
****I'm sorry, if you were right, I'd agree with you***