Registered: 1204633345 Posts: 1,882
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
Registered: 1211294772 Posts: 456
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: 1,855
Reply with quote #3
There will be no checks written this time. TRUMP!!!!!!!!!!!
__________________ The AMC is my B!TCH!
Registered: 1341185158 Posts: 1,353
Reply with quote #4
Good news is that they lost their fall guy.
****Karma means I can rest easy at night knowing all the people I treated badly had it coming***