Wednesday, July 21, 2010

Two Favorites: Fannie Mae and Countrywide

It's rare to post a video here on Appraiser Active, but CBS News has a story that WILL NOT make you feel all warm and fuzzy.

Now, what we need is to get a look at the appraisals used to value the collateral for those loans. It would also be interesting to take a long, leisurely look at the workfiles; particularly the communication between the loan origination staff and the appraiser. Do you reckon there may have been a little bit of pressure?

Are you as curious as I am?


Anonymous said...

Here is a logical assumption:

FNMA has stated that appraisal quality has significantly since HVCC reduced appraiser income by 50%.

Shouldn't appraisals be flawless if we cut the appraiser's fee by another 50%?

Problem solved. No more more appraisers.